The negative aspects of ESG implementation in SME business practise

Research background: The implementation of ESG (Environmental, Social, and Governance) principles has become an integral part of the strategic management of small and medium-sized enterprises (SMEs) in their pursuit of sustainable development. However, their practical application is often accompanied by various negative phenomena. Purpose of the article: This article analyses the barriers and negative attitudes toward ESG implementation in SMEs in the Visegrad Group countries (Slovakia, Czech Republic, Poland, Hungary), with particular attention to the differences between the attitudes of business owners and managers. Methods: The empirical part of the research was conducted through a quantitative questionnaire survey involving 1,549 respondents from SMEs in the V4 countries, with data analysis performed using the chi-square test and Z-score at a significance level of 0.05. Findings & Value added: The results confirm the existence of statistically significant differences between the countries in the degree of negative perception of ESG, particularly in the areas of perceived bureaucratic burden, environmental measures, social aspects, and longterm sustainability. Conversely, differences between owners and managers were found to be predominantly statistically insignificant. The article identifies key implementation barriers, including insufficient strategic anchoring of ESG, low levels of awareness, economic challenges, and organizational resistance to change, while highlighting the need for systematic education and internal capacity building in ESG.