Financing of wood-processing of family business: a survey in Slovakia

Mariana Sedliačiková (), Marek Kostúr (), Ján Dobrovič (), Ľudmila Lipková () and Eva Jančíková ()
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Mariana Sedliačiková: Technical University in Zvolen, Slovakia
Marek Kostúr: Technical University in Zvolen, Slovakia
Ján Dobrovič: International School of Management Slovakia, Slovakia
Ľudmila Lipková: Alexander Dubček University of Trenčín, Slovakia
Eva Jančíková: University of Economics in Bratislava, Slovakia

Entrepreneurship and Sustainability Issues, 2024, vol. 12, issue 1, 402-410

Abstract: In the current global economy, family businesses play an important role as one of the main driving forces of economic growth and employment. Their unique nature and approach to financial decisions sets them apart from non-family businesses. This study identifies the critical forms of financing in the family business segment in the wood-processing industry in Slovakia. The introduction to the issue addresses the importance of the business community. It highlights that family businesses often consider not only economic factors but also emotional and cultural aspects in their financial decisions. Various factors that influence the financial decision-making processes of family businesses are examined, including their tendency to prefer their funding sources and their risk aversion. The available literature focuses on the importance of family businesses in the global context and their recent legislative support in Slovakia. It also analyses the status and challenges of the Slovak wood-processing industry and its link to the support of family businesses.

Keywords: family business; funding sources; financing; wood-processing enterprises (search for similar items in EconPapers)
JEL-codes: D91 L20 M21 M29 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:12:y:2024:i:1:p:402-410

DOI: 10.9770/jesi.2024.12.1(26)

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