Subjective Perception of Global Challenges Among Hungarian and Slovak SMEs

Our modern world is full of change. Keeping up with these changes and adapting to them is the inalienable task of all actors. The aim of this study is to investigate the subjective perception of global challenges among Hungarian and Slovak small and medium-sized enterprises (SMEs). It examines how small enterprises in the two countries perceive and respond to global economic, environmental and social challenges and what differences can be observed between enterprises in the two countries in this respect. It involves a primary research process to conduct the analysis. The results show that the way Hungarian and Slovak SMEs perceive and adapt to global challenges differs significantly, which is explained by differences in the economic environment, regulatory frameworks and entrepreneurial culture, among other factors. The study contributes to a better understanding of the adaptation strategies of SMEs and at the same time highlights the focus on the economic, social and cultural differences between the two countries, which may also have an impact on the competitiveness of enterprises. There is no doubt that businesses are also facing increasing challenges and changes. Their survival, further development or even growth requires them to keep abreast of global trends and to adapt to them or to take advantage of their potential This paper examines whether this is indeed the case for the SME sector by comparing businesses in two countries.