SUCCESSION IN FAMILY BUSINESSES IN SLOVAKIA

The history of family business in Slovakia began to be written shortly after 1989, which was the beginning of the transformation of the economy. Family businesses in our conditions are starting to solve the succession issues only now. Our contribution is focused on the evaluation of the current state of family business in Slovakia with an emphasis on the succession stage in this category of enterprises. Based on a questionnaire survey conducted on a sample of 276 family businesses, we can state interesting facts about the succession issues in this category of businesses. Based on the questionnaire survey, we found out that most companies are often confronted with the problems of transferring assets to the second generation, with doubts and distrust customers and ultimately with inexperience and lack of practice within the second generation. We have found that the generational exchange of family businesses in Slovakia is predominantly patriarchal in nature. The succession is decided mainly by the father, husband or man who manages the business. We used primary and secondary data in the article. We obtained the primary data through a questionnaire survey. The obtained data were analysed by appropriate statistical tests. Secondary data were scientific articles and contributions on family business issues, as well as data obtained from SBA, PSA and KPMG reports.