Entrepreneurship during the Times of the Coronavirus Pandemic in Republic of Croatia

Abstract

Entrepreneurship is a key driver of economic growth and a generator of employment opportunities in all modern economies across the world. Small and medium enterprises (SMEs) are the engines of modern entrepreneurship. In the Republic of Croatia, SMEs are indispensable to boost employment and economic growth. Numerous economic activities have been slowed down due to the coronavirus pandemic, and some have even been completely halted. In these extraordinary circumstances, not only in the Republic of Croatia but also all over the world, an entrepreneur must be proactive and able to promptly adapt to this new situation. The purpose of this article is to investigate the entrepreneur's position in the Republic of Croatia and to identify key problems entrepreneurs face during the coronavirus pandemic. As indicated by the research results, the coronavirus pandemic has drastically altered business activity conduction and entrepreneurship. For their businesses to survive these new, everyday challenges, many companies are forced to adapt their supply to market demands, introduce business informatization, lower the product and service prices and invest in employee education.