Barriers and specifics preventing the global development of Slovak family enterprises in wood-working and furniture industry

¹ Technical University in Zvolen, Faculty of Wood Sciences and Technology, Department of Economics, Management and Business, T. G. Masaryka 24, 960 01 Zvolen, Slovakia
² Technical University in Zvolen, Faculty of Wood Sciences and Technology, Department of Mathematics and Descriptive Geometry, T. G. Masaryka 24, 960 01 Zvolen, Slovakia

^* Corresponding author: xkocianovaa@is.tuzvo.sk

Abstract

Research background: The worldwide importance of family business is evidenced by its more than seventy percent share in all enterprises. A survey in the field of family business in wood-working and furniture industry in Slovakia has not been carried out yet. The situation is not helped by the fact that the family business is not legally defined in the conditions of Slovak Republic.

Purpose of the article: The presented contribution tries to eliminate these shortcomings. Its goal is to map the situation of family wood-working and furniture enterprises in Slovakia as a hitherto unexplored segment to capture a view of their current position together with the main internal and external determinants hindering their development in practice and to approach the potential areas of future development of the businesses in question from their point of view.

Methods: The research method of the questionnaire survey was chosen.

Findings & Value added: Based on the results of the survey, it can be stated that more than half of enterprises in wood-processing and furniture industry are family-owned and their main determinants of development can be considered lack of skilled labor and increasing intensity of competition with specific problems arising from the nature of family business which is underestimation of the issue of succession. The vision of the future development of these family businesses is to take advantage of the growing demand for organic products which they have at disposal.