Too Many, too Small
Too Many, too Small
Small Entrepreneurship in Hungary—Ailing or Prospering?
This chapter argues that the development of small businesses in Hungary had been hampered both by historical heritage and the context of the transformational crisis. It sees mass and chronic unemployment as a contextual factor preventing the emergence of an efficient and dynamic small-business sector. The chapter focuses on the effects of narrowly economic determinants as observed in larger aggregates of self-employment. Based on the experience of established market economies as a comparative standard of measure, it proposes that small entrepreneurship in Hungary is exhibiting a syndrome that might be characterized as ‘too many, too small’. It adopts a macro-level economic approach to assess whether small entrepreneurship in Hungary is ailing or prospering. Lastly, it elaborates the implications of this syndrome for economic policy.
Keywords: small businesses, transformational crisis, mass unemployment, chronic unemployment, economic determinants, established market economies, too many, too small, Hungary, small entrepreneurship
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