Specifics of the Entrepreneurial Activities of Slovaks: Evidences Based on GEM Research

AbstractEntrepreneurship plays an important role in economic growth mainly through contribution to creation of new jobs, development of competitiveness and innovations on company, country and global levels. Theoretical works and empirical studies confirm that entrepreneurial activities of individuals are key drivers of entrepreneurship development. The paper analyses entrepreneurial activities of Slovaks from international perspectives. Goal of the paper is to identify key specifics of Slovak entrepreneurial activities in comparison to benchmark groups of countries. In our research we focus on investigation of entrepreneurial potential, total early stage entrepreneurial activities and, entrepreneurial activities of established businesses, as well as discontinuation of entrepreneurial activities. In addition to that we analyzed motivation for entrepreneurship, employee entrepreneurial activities, entrepreneurship inclusivity from age and aspirations from growth, innovation and internationalization points of views in Slovakia. Our research is based on Global Entrepreneurship Monitor (GEM) data collected for years 2012 – 2014 in Slovakia and benchmark group of countries. We found out key specifics of Slovaks in comparison to benchmark groups of countries with special focus on innovation driven economies