Impact of age of the entrepreneur on the export financing. Case study from Slovakia

Abstract

SMEs are frequently experiencing problems with obtaining capital for the expansion and cross-border activities due to their specific characteristics. Smaller enterprises owned or managed by younger entrepreneurs belong to the most vulnerable segment. The aim of this paper is to bring the statistical evidence whether the age of an entrepreneur is a significant factor with the relevant impact on export activities financing in case of SMEs in Slovakia. The presented results are based on the research carried out among Slovak SMEs in 2016 in comparison with the data from the international survey called TwinEnterpreneurs Regional Study that was performed by the Young Entrepreneurs Association of Slovakia and Vienna Business Agency in 2013. Application of Pearson´s chi square statistical analysis of the results brings clear statistical evidence that while the age of the owner is not a significant factor in the export decision making process, it becomes a significant factor in case of the export financing.