Challenges of entrepreneurship development in Europe in the light of the pandemic crisis
The paper aims to perform an objective comparative analysis of the business climate for entrepreneurship development in European countries in 2021 and group them according to the quality of the business climate. The research uses thirteen criteria from the Global Entrepreneurship Monitor report and...
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2023-06-01
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| Series: | Journal of Business Economics and Management |
| Subjects: | |
| Online Access: | https://journals.vilniustech.lt/index.php/JBEM/article/view/18612 |
| _version_ | 1827920953227608064 |
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| author | Rita Remeikienė Ligita Gasparėnienė Aleksandra Fedajev Sanela Arsić Gracjana Noga |
| author_facet | Rita Remeikienė Ligita Gasparėnienė Aleksandra Fedajev Sanela Arsić Gracjana Noga |
| author_sort | Rita Remeikienė |
| collection | DOAJ |
| description |
The paper aims to perform an objective comparative analysis of the business climate for entrepreneurship development in European countries in 2021 and group them according to the quality of the business climate. The research uses thirteen criteria from the Global Entrepreneurship Monitor report and TOPSIS methodology combined with entropy to perform a comparative analysis of the business climate for entrepreneurship development in selected European economies in 2021. Usage of TOPSIS and entropy method based on the last available data enabled objective and the most accurate evaluation and ranking of countries, taking into account all observed criteria. According to the study, the ranking of European economies indicates that the Netherlands has the most favorable business climate for entrepreneurship development, considering all observed criteria, while Belarus is ranked in the last position. According to relative closeness to the ideal solution (Ci*), the four clusters of countries are derived. Besides the Netherlands, Lithuania, Norway, and Finland were also dedicated to the first cluster, indicating that these economies obtained the most favorable conditions for entrepreneurship development during the pandemic crisis. On the other hand, former command economies and Greece and Cyprus are placed in Cluster IV since they haven’t supported entrepreneurs with sufficient and appropriate economic policy and regulatory reforms.
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| first_indexed | 2024-03-13T04:19:04Z |
| format | Article |
| id | doaj.art-b9d1acf8622b49a08ae5f66d39d6b5f4 |
| institution | Directory Open Access Journal |
| issn | 1611-1699 2029-4433 |
| language | English |
| last_indexed | 2024-03-13T04:19:04Z |
| publishDate | 2023-06-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Journal of Business Economics and Management |
| spelling | doaj.art-b9d1acf8622b49a08ae5f66d39d6b5f42023-06-20T15:18:49ZengVilnius Gediminas Technical UniversityJournal of Business Economics and Management1611-16992029-44332023-06-0124210.3846/jbem.2023.18612Challenges of entrepreneurship development in Europe in the light of the pandemic crisisRita Remeikienė0Ligita Gasparėnienė1Aleksandra Fedajev2Sanela Arsić3Gracjana Noga4Law Faculty, Vilnius University, Vilnius, LithuaniaLaw Faculty, Vilnius University, Vilnius, LithuaniaEngineering Management Department, Technical Faculty in Bor, University of Belgrade, Bor, SerbiaEngineering Management Department, Technical Faculty in Bor, University of Belgrade, Bor, SerbiaDepartment of Strategic Analysis, Cracow University of Economics, Cracow, Poland The paper aims to perform an objective comparative analysis of the business climate for entrepreneurship development in European countries in 2021 and group them according to the quality of the business climate. The research uses thirteen criteria from the Global Entrepreneurship Monitor report and TOPSIS methodology combined with entropy to perform a comparative analysis of the business climate for entrepreneurship development in selected European economies in 2021. Usage of TOPSIS and entropy method based on the last available data enabled objective and the most accurate evaluation and ranking of countries, taking into account all observed criteria. According to the study, the ranking of European economies indicates that the Netherlands has the most favorable business climate for entrepreneurship development, considering all observed criteria, while Belarus is ranked in the last position. According to relative closeness to the ideal solution (Ci*), the four clusters of countries are derived. Besides the Netherlands, Lithuania, Norway, and Finland were also dedicated to the first cluster, indicating that these economies obtained the most favorable conditions for entrepreneurship development during the pandemic crisis. On the other hand, former command economies and Greece and Cyprus are placed in Cluster IV since they haven’t supported entrepreneurs with sufficient and appropriate economic policy and regulatory reforms. https://journals.vilniustech.lt/index.php/JBEM/article/view/18612entrepreneurshipbusiness climateEuropean countriesCOVID-19TOPSIS |
| spellingShingle | Rita Remeikienė Ligita Gasparėnienė Aleksandra Fedajev Sanela Arsić Gracjana Noga Challenges of entrepreneurship development in Europe in the light of the pandemic crisis Journal of Business Economics and Management entrepreneurship business climate European countries COVID-19 TOPSIS |
| title | Challenges of entrepreneurship development in Europe in the light of the pandemic crisis |
| title_full | Challenges of entrepreneurship development in Europe in the light of the pandemic crisis |
| title_fullStr | Challenges of entrepreneurship development in Europe in the light of the pandemic crisis |
| title_full_unstemmed | Challenges of entrepreneurship development in Europe in the light of the pandemic crisis |
| title_short | Challenges of entrepreneurship development in Europe in the light of the pandemic crisis |
| title_sort | challenges of entrepreneurship development in europe in the light of the pandemic crisis |
| topic | entrepreneurship business climate European countries COVID-19 TOPSIS |
| url | https://journals.vilniustech.lt/index.php/JBEM/article/view/18612 |
| work_keys_str_mv | AT ritaremeikiene challengesofentrepreneurshipdevelopmentineuropeinthelightofthepandemiccrisis AT ligitagaspareniene challengesofentrepreneurshipdevelopmentineuropeinthelightofthepandemiccrisis AT aleksandrafedajev challengesofentrepreneurshipdevelopmentineuropeinthelightofthepandemiccrisis AT sanelaarsic challengesofentrepreneurshipdevelopmentineuropeinthelightofthepandemiccrisis AT gracjananoga challengesofentrepreneurshipdevelopmentineuropeinthelightofthepandemiccrisis |