Linking young SME entrepreneurial activity and economic development

Several studies have pointed out the importance of entrepreneurship and its link to economic growth. However, fewer studies contribute to the link it has toward economic development. Therefore, the chapter aimed to analyze the relationship between entrepreneurial activity and its contribution to economic growth and development in the Visegrad group. A quantitative research design was followed using secondary time series data from 2006 to 2019. A composite index was developed using the employment rate, Human Development Index (HDI), and the percentage of the population above the poverty line to measure economic development. Findings suggest that the variables, entrepreneurial development, economic growth, and economic development, are linked within the Visegrad. Economic and social characteristics amongst these countries seem to influence their performances. Policy stakeholders should ensure the stimulation and development of sound private market sectors primarily structured around responsive micro and macro decision-making.