Economics of family farms business in Vukovar - srijem county

Vladimir Grebenar (), Slavko Bosnjak () and Boris Banovic ()
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Vladimir Grebenar: Periska L.t.d.
Slavko Bosnjak: City of Vinkovci
Boris Banovic: City of Vinkovci

Economy of eastern Croatia yesterday, today, tommorow, 2012, vol. 1, 65-70

Abstract: The paper deals with the issue of business economics in family farms and the poor knowledge level on business’s internal economics by family farm members. It is assumed that the owner of a family farm is an entrepreneur who manages the business venture. Many family farms use assets that are not registered on farm’s asset list in production processes. In addition, family farms which produce more than one primary product do not know the economics of internal operations and the profitability of individual sorts, cultures and products. Is there a financial model that solves this problem? Do the owners of family farms consider the information about the internal economics of their business as important for further business decisions? This paper is based on a tested statistical sample of family farms in Vukovar-Syrmia County and proves that their knowledge level of crucial internal-economic information, which is necessary in successful decision making, is very poor. In addition, the paper explains the causes of this poor knowledge level and gives a conclusion as a recommendation of how the authors consider it necessary to solve this problem.

Keywords: internal economics ofthe business; family farms; prices; costs (search for similar items in EconPapers)
Date: 2012
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