Business Restart in Visegrad Countries

Abstract

The main goal of our paper is to analyse business restarts in Visegrad countries on an individual level and to identify key drivers of restart activity from among perceptual variables. The analysis is based on Global Entrepreneurship Monitor data. We employ descriptive statistics to analyse the quantitative aspect of business restart and regression modelling to identifyits drivers. Our findings proved that business discontinuation and consequent restart are both integral parts of entrepreneurship in V4 countries. Entrepreneurial selfefficacy and fear of failure, together with gender andage, proved to have a significant relationship with individual restart activity. The individual perceptual variables as components of entrepreneurial potential, as well as the issue of inclusiveness, proved to play an important role in business restart. Our study is the first comprehensive analysis of the under-researched topic of business restart in the V4 region. In addition to highlighting its importance as an integral part of entrepreneurial dynamics in V4 countries, it also identifies individual-level drivers of this specifictype of entrepreneurial activity.

Keywords

• entrepreneurship
• discontinuation
• restart
• restart drivers
• Global Entrepreneurship Monitor (GEM)