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Family Businesses during the COVID-19 Crisis – Evidence from Poland

100%
Zajkowski R., Żukowska B.
Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia
|
2020
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vol. 54
|
issue 3
EN
Theoretical background: Family businesses are a specific group of enterprises in which family bonds play a vital role in determining the economic and noneconomic goals of the business. The subject literature emphasises the long-term focus of family businesses which is on continuity, futurity and perseverance. During the COVID-19 crisis, unique family business traits can allow these entities to access useful resources and take positive actions such as forging strong networking relationships, tapping into local idiosyncratic knowledge, exercising rapid response, having flexibility and exercising trust with caution. This suggests that family businesses might also react to the COVID-19 crisis in their own distinctive ways using their unique attributes.Purpose of the article: In this paper we will show how family businesses deal with coronavirus restrictions and what measures they undertook during this challenging period. The paper is organised around four research questions.Research methods: This research was conducted using a sample of 167 family businesses. Primary data related to reactions of family businesses facing the COVID-19 crisis were collected in April and at the beginning of May 2020. To achieve the goals of this study, we carried out such research methods and procedures as fractal analyses, descriptive statistics, statistical comparison of means and subjective classification of the factors.Main findings: For family businesses, a sudden fall in revenue was a common result of COVID-19 restrictions in the Polish economy. In the case of the majority of surveyed family firms, revenues fell by 44%, and in the next 2 to 3 months businesses expected additional decreases of 39.8%. More than 65% declared a stable level of employment, but more than a quarter of surveyed family fims showed an average dip in fim employment of 15.7% and expected further job losses at around 13.1%. To protect businesses against the negative effects of the pandemic, surveyed family fims undertook several ad hoc measures. We divided the analysed reactions to COVID into three groups: proactive, neutral and progressive. We noticed that the most common measures were those marked as “neutral”, or those which neither expanded nor retrenched the business in the short term. This observation suggests that family businesses might choose “persevering” as their first strategic response to the sudden crisis. We also found that “proactive” measures were undertaken in family businesses which evaluated their probability of survival as higher than businesses that indicated “neutral” or “defensive” reactions. In addition, we isolated statistically significant differences in family fims’ average probability of survival among the firms which introduced particular neutral and defensive measures and those which did not. On this basis we can conclude that the lower the perceived probability of survival is, the more retrenchment-oriented types of measures begin to be taken. Additionally, it should be mentioned that so-called anti-crisis shields implemented by the Polish government were assessed as inadequately supportive of business entities’ survival.
PL
Theoretical background: Family businesses are a specific group of enterprises in which family bonds play a vital role in determining the economic and noneconomic goals of the business. The subject literature emphasises the long-term focus of family businesses which is on continuity, futurity and perseverance. During the COVID-19 crisis, unique family business traits can allow these entities to access useful resources and take positive actions such as forging strong networking relationships, tapping into local idiosyncratic knowledge, exercising rapid response, having flexibility and exercising trust with caution. This suggests that family businesses might also react to the COVID-19 crisis in their own distinctive ways using their unique attributes.Purpose of the article: In this paper we will show how family businesses deal with coronavirus restrictions and what measures they undertook during this challenging period. The paper is organised around four research questions.Research methods: This research was conducted using a sample of 167 family businesses. Primary data related to reactions of family businesses facing the COVID-19 crisis were collected in April and at the beginning of May 2020. To achieve the goals of this study, we carried out such research methods and procedures as fractal analyses, descriptive statistics, statistical comparison of means and subjective classification of the factors.Main findings: For family businesses, a sudden fall in revenue was a common result of COVID-19 restrictions in the Polish economy. In the case of the majority of surveyed family fims, revenues fell by 44%, and in the next 2 to 3 months businesses expected additional decreases of 39.8%. More than 65% declared a stable level of employment, but more than a quarter of surveyed family firms showed an average dip in firm employment of 15.7% and expected further job losses at around 13.1%. To protect businesses against the negative effects of the pandemic, surveyed family firms undertook several ad hoc measures. We divided the analysed reactions to COVID into three groups: proactive, neutral and progressive. We noticed that the most common measures were those marked as “neutral”, or those which neither expanded nor retrenched the business in the short term. This observation suggests that family businesses might choose “persevering” as their first strategic response to the sudden crisis. We also found that “proactive” measures were undertaken in family businesses which evaluated their probability of survival as higher than businesses that indicated “neutral” or “defensive” reactions. In addition, we isolated statistically significant differences in family fims’ average probability of survival among the firms which introduced particular neutral and defensive measures and those which did not. On this basis we can conclude that the lower the perceived probability of survival is, the more retrenchment-oriented types of measures begin to be taken. Additionally, it should be mentioned that so-called anti-crisis shields implemented by the Polish government were assessed as inadequately supportive of business entities’ survival.
2
Publication available in full text mode
Content available

Refreshing Typologies Based on Family Firms’ Goals: The Perspective of “First-Generation Enterprises”

100%
Węcławski J., Żukowska B.
Central European Management Journal
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2019
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vol. 27(3)
128-146
EN
Purpose: The study aims to build a typology of family businesses with relatively short experience in the free-market economy. The typology is based on the goal preferences of the family businesses. Methodology: The research is based on empirical data from Polish medium-sized and large enter prises, collected in 2014. Using cluster analysis and variance analysis, we identified four types of family enterprises based on their goal perceptions and tested the differences among them. Results: The article distinguishes and characterizes four types of family enterprises: “business first, family second,” “only business,” “immature,” and “family first, business second.” Originality/value: The proposed typology is similar to that presented in the subject literature. Nevertheless, our contribution resides in the discovery that even if family and business goals are integrated in the enterprise, one of the systems will be dominant. Moreover, enterprises that only prioritize family goals were absent in the explored data set.
3

Importance of Individual Characteristics of Entrepreneurs and Perception of Factors Determining the Start-Up of a Business in the Lubelskie Voivodship

81%
Domańska A., Żukowska B., Zajkowski R.
Barometr Regionalny. Analizy i prognozy
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2018
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issue 3(53)
101-108
EN
Businesses are an important part of economic development in a region. Through business activity, new innovations are created which accelerate economic growth and structural change. It should also be said that entrepreneurship has a strong influence on the competitiveness of the area in which it operates and shapes the professional activity of the population. In addition, entrepreneurship absorbs development factors that are specific to the region such as natural resources, human resources, etc. Hence, it is important to build entrepreneurial attitudes that influence the establishment of enterprises. The main goal of this paper is to express the importance of creating an entrepreneurial attitude in the Lubelskie Voivodship. In the paper, we discuss how this attitude can be beneficial for creating businesses and thus for regional development. To achieve the main goal, we used data collected in April and May 2016 among small and medium enterprises operating in the Lubelskie Voivodship. After rejecting the large enterprises, incomplete responses, and those that did not respond, the research sample consisted of 186 entities. Using statistical methods, such as regression models and statistical tests we found out that features such as creativity, ambition, hard work and self-confidence are the ones that were recognized by entrepreneurs in the Lubelskie Voivodship as the most desirable. In order to improve the situation of the region by boosting the number of established enterprises, the authorities should take steps to build an entrepreneurial attitude based on these characteristics. Results indicate that self-discipline is not a desirable feature among potential entrepreneurs. It turns out that according to the opinion of entrepreneurs, the ability to control oneself is not a useful feature when you want to run your business. Likewise, risk-taking propensity is also an undesirable characteristic. It should be noted, however, that the research made for the purpose of the paper was conducted among entrepreneurs who decided to start their own company. Their answers give a better picture of the traits which a potential entrepreneur should have. So, the results of these studies are an interesting starting point for further in-depth research.
PL
Przedsiębiorstwa w decydującej części odpowiadają za rozwój poszczególnych regionów. Poprzez swoją aktywność i innowacyjność przyspieszają rozwój gospodarczy oraz zmiany strukturalne. Można również powiedzieć, że wywierają wpływ na konkurencyjność obszarów, w których działają oraz kształtują profesjonalne zachowania społeczeństwa. Co więcej, przedsiębiorstwa absorbują specyficzne czynniki rozwoju regionów, jak np. zasoby naturalne, zasoby ludzkie itp. W świetle zarysowanych powyżej przyczyn kluczowe wydaje się kształtowanie postaw proprzedsiębiorczych, które będą sprzyjały tworzeniu nowych firm. Głównym celem pracy było ukazanie znaczenia procesów ukierunkowanych na kreowanie proprzedsiębiorczych postaw społeczeństwa w województwie lubelskim. Poddano dyskusji, w jaki sposób takie podejście może sprzyjać tworzeniu nowych podmiotów oraz wpływać na rozwój regionu. W procesie realizacji głównego celu pracy zostały wykorzystane dane liczbowe zgromadzone w okresie od kwietnia do maja 2016 roku — badanie zostało przeprowadzone na grupie małych i średnich przedsiębiorstw województwa lubelskiego. Po wyłączeniu z próby przypadkowo wybranych przedsiębiorstw dużych oraz wadliwych kwestionariuszy, ostateczna próba liczyła 186 jednostek. Przy wykorzystaniu modeli regresji liniowej oraz weryfikacji statystycznej uzyskanych wyników udało się ustalić, że takie cechy jak kreatywność, ambicja, zaangażowanie, pewność siebie zostały uznane przez przedsiębiorców z województwa lubelskiego jako pożądane. Chcąc poprawić sytuację w regionie poprzez zwiększenie liczby nowopowstających przedsiębiorstw, władze lokalne powinny podjąć kroki związane z tworzeniem proprzedsiebiorczego klimatu opartego o wskazane cechy. Uzyskane wyniki wskazują, że z kolei samodyscyplina, czy skłonność do podejmowania ryzyka nie są szczególnie ważnymi cechami zdaniem przedsiębiorców. Uzyskane wyniki rzucają nowe światło na analizowane zagadnienia i stanowią jednocześnie interesujący punkt wyjścia dla dalszych prac badawczych.
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