Although, the Small and Medium-sized enterprises are the most numerous members in clusters, many of their representatives do not know benefits from this type of cooperation and they perceive it as a risky in general. Whereby, the clusters present one form of sustainable development of SMEs business. The focus of this paper is to provide an analytical framework in which the SMEs' perception of selected risk indicators is investigated by characterizing the financial risks related to cluster cooperation. While risk indicators are presented through five main categories of financial risks. To gain the main aim of this paper following research methods were used:Chi square test to compare statistical significant differences between the stated groups of respondents, Z-score to investigate the statistically significant differences in individual responses, Pareto analysis to determine the most important risk indicators and Key risk matrix to assess the level of risk indicators. The results have showed, that most important risk indicators are from category of business risks and they related with main issues of cluster cooperation:human factor failure, legal risk and risk related to lose of own reputation. These results highlighted the importance of financial risks that may be necessary for SMEs, other stakeholders and policy makers to overcome the barriers in development of cluster cooperation. The added value of this paper is the comparison of SMEs' perception of risk indicators from several points of view and final evaluation is connected and compared with the perception of those SMEs that have or had experience with cluster cooperation.

中文翻译：

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集群合作背景下的中小企业对金融风险的认识

尽管中小型企业是集群中成员最多的企业，但许多代表并不知道这种合作会带来什么好处，他们普遍认为这种合作存在风险。因此，集群代表了中小企业业务可持续发展的一种形式。本文的重点是提供一个分析框架，在该框架中，通过表征与集群合作相关的金融风险来调查中小企业对选定风险指标的看法。风险指标通过五个主要类别的金融风险来表示。为了达到本文的主要目的，采用了以下研究方法：卡方检验比较陈述的受访者组之间的统计学显着性差异，Z评分调查个人回答的统计学显着性差异，帕累托分析确定最重要的风险指标，关键风险矩阵评估风险指标的水平。结果表明，最重要的风险指标来自业务风险类别，它们与集群合作的主要问题有关：人为因素失败，法律风险和与自身声誉丧失相关的风险。这些结果强调了中小企业，其他利益相关者和决策者克服集群合作发展障碍所必需的财务风险的重要性。本文的附加值是中小企业的比较