'The entrepreneur is responsible for bringing together all the factors of production and discovering the value of products, the reorganisation of all the capital he employs, the value of wages, the interest and rent he pays, as well as the profits that belong to him' (Schumpeter, 1961). MANOLOVA (2007) states that entrepreneurship is a topic that deserves attention and should be studied worldwide, due to its economic and social importance. In the former communist world, according to the author, small and medium-sized enterprises represent between 50% and 60% of the gross domestic product of countries such as Hungary, Lithuania, the Czech Republic, Poland and Latvia. Therefore, the phenomenon of entrepreneurship should be seen 'as an important engine for job creation and social change' (p.407).