DUHÁČEK ŠEBESTOVÁ, Jarmila, Pavla POKORNÁ and Petra KREJČÍ. INFLUENCE OF COVID 19 ON FINANCING BUSINESS ACTIVITIES: LESSONS LEARNED FROM SELF-EMPLOYED PERSONS. Online. In Zimmermannová Jarmila. International Days of Science 2021 –Economics, Management, InnovationTen years between the global financial crisis and the crisis of 2020. Olomouc: Moravian Business College Olomouc, 2021, p. 82-90. ISBN 978-80-7455-097-3.
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Basic information
Original name INFLUENCE OF COVID 19 ON FINANCING BUSINESS ACTIVITIES: LESSONS LEARNED FROM SELF-EMPLOYED PERSONS
Authors DUHÁČEK ŠEBESTOVÁ, Jarmila (203 Czech Republic, guarantor, belonging to the institution), Pavla POKORNÁ (203 Czech Republic, belonging to the institution) and Petra KREJČÍ (203 Czech Republic, belonging to the institution).
Edition Olomouc, International Days of Science 2021 –Economics, Management, InnovationTen years between the global financial crisis and the crisis of 2020, p. 82-90, 9 pp. 2021.
Publisher Moravian Business College Olomouc
Other information
Original language English
Type of outcome Proceedings paper
Field of Study 50204 Business and management
Country of publisher Czech Republic
Confidentiality degree is not subject to a state or trade secret
Publication form electronic version available online
RIV identification code RIV/47813059:19520/21:A0000207
Organization unit School of Business Administration in Karvina
ISBN 978-80-7455-097-3
Keywords in English Financial management; decision making; self-employed persons; governmental subsidies
Tags International impact, Reviewed
Changed by Changed by: Miroslava Snopková, učo 43819. Changed: 13/4/2022 08:41.
Abstract
Business activities and their financing depend in many cases on the financial knowledge of the entrepreneur. In a crisis, it is best seen whether the entrepreneur can plan in an unstable environment or rely on external resources, such as business subsidies from governmental resources. This paper's main goal isto present the results of primary research conducted during autumn 2020, which illustrate the current situation within the Covid-19 pandemic on the financial management of sole proprietors and changes in their thinking on investment impact on governmentalsubsidies on that behaviour. The results are based on primary research (177 interviews) in the Czech Republic. Those findings are compared with secondary data –asurvey realized by the Association for SMEs, where 8% of them would survive current restrictions (lasts up to one month). In contrast, about 46% have sufficient reserves for more than three months in emergency mode. Moreover, the study confirmed a negative relationship to public support. Based on these results, this study confirmed that many self-employed people prefer to solve their current situation by their selves, not with governmental assistance.
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