ENTREPRENEURS' PERCEPTIONS ON THE BUSINESS RISK

Moch Amri Amiruddin, Achmad Yanu Alif Fianto

Abstract


This paper examines the impact that entrepreneurs' perceptions on the identified business risks have on their predictions for the future of small and medium-sized businesses (SMEs). The study was completed by 230 different SMBs located in Surabaya. Structural equation modeling and factor analysis were used to determine the interrelationships between the variables. The founders' lack of a pessimistic attitude on the probability of company failure is beneficial to the success of small and medium-sized firms (SMEs). The future of an organization is most affected by its perspective on financial risk, both in terms of indications of financial success and the status of financial risk as an intrinsic component of the business's day-to-day operations. Operational risk-aware resource management lessens the possibility that consumers would complain about the quality of the company's goods or its dependence on a select group of suppliers. Even with solid sales, the corporation nevertheless faces some competition in the market. It's the third most important component that will determine the long-term prosperity of small and medium-sized businesses. The findings of this study will serve as a solid foundation for those who draft national and regional development strategy plans aiming to assist and promote SMEs, as well as those who draft relevant policies.

Keywords


Entrepreneurship; Perceived Risk; Risk Management

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