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The article focuses on the financing of family-owned businesses in the Slovak wood-processing industry, highlighting their unique financial decision-making processes. Topics include the preference for internal funding sources over external ones, the influence of emotional and cultural factors on financial decisions, and the challenges faced by these businesses in accessing loans and capital.

Family enterprises play an important role in global economies and in national economies of all developed countries. Creating new, and maintaining the existing family enterprises, combined with their continuous development should be the key priority of all countries. Based on the evaluation of the current state of family business in Slovak micro, small, and medium enterprises, the main objective of this paper is to identify the key determinants which affect its development. At the same time, the authors propose such measures the implementation of which into business practice will lead to sustainability of the existing, as well as the support of the newly established family enterprises in Slovakia. The research has been evaluated with the use of methods of testing the statistical hypothesis and methods of descriptive statistics. As the conducted research has proved, at the external environment, the most negative determinant that limits the activities of family enterprises is strong competition of other enterprises operating in the Slovak market. The biggest problem related to internal environment of family enterprises is obtaining a stable qualified. The results led to conclusions and recommendations, the implementation of which into practice will help to support family business in Slovakia.

The aim of the paper is to assess the use of controlling in family businesses within the woodworking and furniture industry in Slovakia compared to non-family businesses and to identify the underlying reasons for its implementation or lack thereof. The questionnairebased survey was evaluated using relevant statistical methods. Based on the findings, it can be concluded that most of the woodworking and furniture enterprises belong to family businesses, and they tend to use controlling to a lesser extent compared to non-family businesses. The results indicated a positive correlation between the size of the enterprise and the implementation of controlling. Additionally, a distinctive specific of the surveyed businesses which may hinder the application of controlling is considered the concordance of ownership and management roles. The study identified the state of the use of controlling in the surveyed businesses and sheds light on the factors influencing their decisions. [ABSTRACT FROM AUTHOR]

The aim of the paper is to determine the prerequisites for the future sustainable economic development of the wood-processing family enterprises in Slovakia focusing on ecological mobility, certification, and strategic management. 3,500 wood-processing enterprises in Slovakia were addressed with a questionnaire. The validity of three assumed hypotheses were evaluated by applying the relevant statistical methods. The prerequisites for the development of the wood-processing family enterprises consist of removing the barrier of undervalued strategic planning and management, as well as the entire branch, and focusing on the needs of the family business as the most represented segment. It is necessary to support the communication of beneficial attributes and advantages of the industry in question. At the same time, space is being created for more detailed research in the field of certification and its impact on the growth of consumer demand. [ABSTRACT FROM AUTHOR]

The aim of the paper is to map the current state of succession as a critical prerequisite for the sustainability and development of Slovak wood-processing family businesses. The questionnaire survey was evaluated using statistical methods (Cronbach alpha, binomial test, interval estimate, Pearson´s test, and the Wilcoxon test). The results showed that Slovak wood-processing family enterprises do not have experience implementing the succession process. They do not plan to sell their business to strategic investors. The main reason for succession planning is the age of the founder of the enterprise. The key factors that threaten a successful succession process include a lack of a qualified workforce, a lack of interest in offspring in the business, and a lack of legislation in the field of the family business. The research provides a comprehensive view of succession in Slovak wood-processing family businesses and points to critical issues that need to be addressed. [ABSTRACT FROM AUTHOR]

The aim of this paper was to identify the application of selected green growth indicators, specifically voluntary environmental policy instruments of in wood-processing enterprises in Slovakia. The mapping of the researched issue was carried out in the form of questionnaire. The evaluation of the questionnaire was performed by the single-proportion hypothesis test. Pearson's Chi-square test was used to verify the representativeness of the examined sample and the consistency of the questionnaire was confirmed using Cronbach's alpha. Based on the achieved results, it can be stated that at least half of the enterprises do not use green procurement and do not label their products with an eco-label. These companies have neither implemented an Environmental Management System nor an Environmental Management and Audit Scheme. The achieved results show that enterprises in the wood-processing industry in Slovakia mostly do not apply green growth indicators voluntary instruments of environmental policy. [ABSTRACT FROM AUTHOR]

A survey into the field of the family business in woodworking and furniture enterprises in Slovakia has not been carried out yet. The presented paper tries to eliminate these shortcomings. Its goal is to map the situation of family woodworking 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. Based on the results obtained by conducting and evaluating the questionnaire, it can be stated that more than half of enterprises consider a lack of qualified workforce and increasing intensity of competition to hinder their development along with specific problems arising from the nature of family business, which is the underestimation of the issue of succession. A contribution at the level of theory and practice is assumed in the paper as well. The main contribution is characterizing of a family business as the legal definition in the legislative conditions in the Slovak Republic is absent. The contribution also refers to the future direction of the development of the Slovak woodworking and furniture family enterprises. [ABSTRACT FROM AUTHOR]

Current approaches to human resource management are focused on the sustainable development of small and medium-sized enterprises (SMEs). Career strategies of employees are its integral part. The aim of this paper is to determine the changes in professional priorities of employees in small and medium-sized wood-processing enterprises in the area of motivation relating to career aspiration throughout the course of life. The research outcomes show significant correlation between age, gender, and motivation factors relating to career aspiration. Slovak women working in SMEs prefer motivation factors relating to finances, mutual relationships, work, and career aspiration. Motivation factors selected by men are almost the same. In terms of age, motivation factors relating to career aspiration are preferred mainly by women aged 30 to 40 years old. Mentioned factors become less important for respondents of older age groups. Men working in SMEs prefer the motivation factors relating to career aspiration at the age of 30 and subsequently they become less important as well. Following the outcomes of this research, managers of SMEs should motivate careeroriented employees especially according to their needs. In the long-term perspectives, managers can encourage employees to stay focused on their careers. [ABSTRACT FROM AUTHOR]

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