Business culture, business intensity and business aspirations. Developed business culture and a high degree of entrepreneurship represent key prerequisites for the overall strengthening of the endogenous segment of companies and a higher innovation efficiency of the local economy. Four decades of central planning have practically destroyed entrepreneurship and the related specific knowledge and skills. The Czech Republic faces the following problems in this area: There are not many new in particular technology companies founded. Insufficient motivation of people to set up their own companies. Setting up new companies, in particular technology oriented companies, is the main ingredient for long-term strengthening of the endogenous company sector54. Despite the differences between regions, there is a certain mindset and a set of values anchored in the society and these do not favour development of entrepreneurship and add to low motivation to start one's own business: Enterprise is usually perceived by the society as a way of enrichment intended for a small group of people (sometimes not always in a moral manner) and not as a source of the development of the society, technology and the overall prosperity. There is a widespread opinion that it is far easier to become successful through the right contacts than through your own vision and hard work on making the vision come true. Citizens of the Czech Republic are less willing to undergo risks and they prefer being employed to starting their own business. This is shown, among other things, by the fact that university graduates strive en mass to find employment in a branch of a reputable foreign company or public sector instead of aspiring to set up their own company. The possibilities of external financing for setting up and developing SMEs are insufficient55. Companies gain means to develop their business through bank loans and it is more difficult for small and newly established companies to reach credit facilities, in particular at the time of worsened risk sentiment of the banks. If risk capital is secured for the development of 54 Global entrepreneurship monitor 2011 55 MPO (2012): Concept of Support for Small and Medium-Sized Enterprises 2014–2020. innovation companies, the Czech Republic market fails and according to Eurostat statistics there are no investments from private capital funds during the early stages of business enterprise. Development needs: ⮚ To increase the share of inhabitants starting their business for the first time, and people who have been repeat...
