Finansowanie wewnętrzne małych przedsiębiorstw przetwórstwa spożywczego
Internal Financing of Small Food Processing Enterprise

Summary/Abstract: Purpose – the purpose of the study was to assess the level and structure of internal financing in small food processing enterprises. Design/methodology/approach – the research was carried out on the basis of the F-02 GUS statistical form for non-financial corporations. Companies with PKD 10.0 and 11.0 were included in the sample. The research period covered years 2010–2015. The results of small business studies were compared with average values for the variables tested in the selected industry. The level of internal financing was determined on the basis of the net profit, depreciation, funds raised from the sale of assets and on account of the capital management improvement. Findings – during the period considered, the greatest contribution to the internal financing of small enterprises was attributable to net profit and depreciation, which together accounted for 81.5% of the available funds. In small enterprises compared to the industry average, higher profit and profitability contributed less to the increase of the internal financing sources. In the case of the debt level, in small entities, the growth of this variable contributed less to the reduction of internal financing compared to the average for the surveyed sample. Originality/value – the conducted research allows identifying the role of self-financing in the capital structure decision of small enterprises with the comparison to investigated branch tendencies.

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