CHAPTER 3

Implications of Financial Crisis in Small Business

Financial crisis and entrepreneurship. Financial crisis and small business. Management of risk paragons involved in small business. Active and passive enterprise risk management approach. The human capital risk. Credit risk. Bank lending and small business during financial crisis. Tax compliance. Small business company culture. The six components that drive cultural change.

3.1. Financial Crisis Impact on Small Business: The Example of the Last Global Financial Crisis

Financial stability can be beneficial to entrepreneurship in two ways (Wiebke and Winkler 2016). Firstly, according to Choi (1999, cited in Wiebke and Winkler 2016), it can be the springboard for entrepreneurship as economic ...

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