Are small businesses better prepared for crises? Czech case

Abstract

Small businesses often suffer from a lack of resources, which in many cases they cite as a reason why they cannot prepare for crises. Increasingly frequent threats may have forced them to rethink their thinking. The aim of this study is to compare data from 2009, 2012, 2019 and 2021 and thus provide the basis for the non/confirmation of the hypothesis of continuously increasing crisis preparedness in small enterprises. A questionnaire survey was conducted within Czech small businesses in the mentioned years. More than 1000 respondents participated in the research each year. The outputs were statistically processed. Different prevention approach strategies in each year, barriers that complicate preparation and understanding of the not/importance of prevention have been identified. A basic hypothesis could not be confirmed. However, in the context of how highly the importance of crisis preparedness is assessed, actual active prevention is still low. Managers still do not consider crisis preparedness to be part of their competitiveness. The practical benefit of the research is to initiate their reflection on the necessity of crisis prevention. Theoretical contribution is its comparative character over time, allowing to monitor the evolution of the approach of small business managers.