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Perception of business risk in the time of the COVID-19 pandemic
Abstract
SCIENTIFIC OBJECTIVE: The aim of the article is to assess the perception of the risk of business activity by current and potential entrepreneurs. The analysis of the literature on the subject and the results of the available, selected studies of the consequences of the Covid-19 pandemic for the Polish economy, especially for micro, small and medium-sized enterprises, prompted the authors to examine attitudes towards entrepreneurship, which may significantly determine the development of the MSME sector in Poland in the near future.
PROBLEM AND RESEARCH METHODS: Risk is an inherent part of running a business. The COVID-19 pandemic has affected almost all areas of human life. The theoretical part uses a critical analysis of the literature on the subject. In the empirical part, the method of online survey research was conducted among 170 students of a non-public university.
EXECUTIVE PROCESS: The first part presents the definition of risk, and then the research methods used in the article. The second part describes theoretical problems related to: general understanding of risk, the concept of risk in business and classification of its sources, experience of entrepreneur's uncertainty, relationship between risk and threat, human attitudes towards risk. The next part presents the results of own research on the perception of risk by potential and current young entrepreneurs. The last part of the article is a summary of the literature analysis on the subject and the empirical research conducted.
RESULTS OF THE SCIENTIFIC ANALYSIS: The results of empirical research proved that 48.8% of respondents was interested in running their own business. In addition, as many as 60.9% of respondents said that the pandemic did not affect their plans to start their own business. Over 70% of respondents assessed running their own business as risky. Nevertheless, they want to consciously take such a risk.
Keywords
risk, entrepreneurship, the Covid-19 pandemic
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