DOI: 10.11118/978-80-7701-010-8-0048

AKO SÚ FINANCOVANÉ SLOVENSKÉ RODINNÉ DREVOSPRACUJÚCE PODNIKY?

Marek Kostúr¹, Mariana Sedliačiková¹

Family businesses play a key role in the global economy, serving as one of the main drivers of economic growth and employment. Their specific nature and approach to financial decision-making set them apart from non-family firms. This paper focuses on identifying the main forms of financing for family businesses in the wood-processing industry in Slovakia. The introduction emphasizes the importance of the business environment and highlights that family firms often consider not only economic factors but also emotional and cultural aspects when making financial decisions. The study analyzes various factors that influence the financial decisions of family firms, including their preference for internal capital and their cautious approach to risk. The methodology of this study combines secondary source analysis with primary research conducted through questionnaires. The research involved 491 companies, 392 of which were family firms in the wood-processing sector in Slovakia. The results showed that family businesses prefer internal financing, with only a smaller number utilizing external sources, and some combining both forms of financing. Working capital loans were not used as extensively as initially expected. Recommendations for future research include a deeper analysis of the reasons why family firms favor internal financing and how they could better utilize external sources.

Keywords: family business, financial resources, business financing, wood-processing industry

pages: 48-65, online: 2024