“…Moreover, this paper concerns the dynamics of new business formation in the Czech Republic, comparing the importance of specific determinants in two time periods -at the start of the first and second decades of the 21 st century. There are many studies that deal with this issue in the United States and in Western Europe (see e.g., Anderson and Koster, 2011;Armington and Acs, 2002;Lee et al, 2004;Sutaria and Hicks, 2004;Bishop, 2012). Research on the determinants of new business formation in post-socialist countries is, on the contrary, quite scarce (see e.g., Fritsch et al, 2014;Lafuente and Vaillant, 2010;Hájek et al, 2015;Belás et al, 2015c;Smékalová at al., 2014 for some exceptions).…”