INNOVATIVE ACTIVITIES OF FAMILY SMES: CASE STUDY OF THE SLOVAK REGIONS
INNOVATIVE ACTIVITIES OF FAMILY SMES: CASE STUDY OF THE SLOVAK REGIONS

Summary/Abstract: Building a competitive economy is based on the existence of competitive regions whose essential element interms of sustainable development is the effectively functioning business sector. Typical representatives of theregional economy are the small and medium enterprises that often have the character of family businesses. Thechallenging competitive environment requires proactive responses to turbulent changes, and innovativeactivities have to be pursued in order to maintain activities and development on the market. Innovation is thedriving force behind the development; it is a key issue to survive in a competitive business environment. Despitetheir quarter-century presence, family business in Slovakia are not addressed enough attention. This was thebasic motif to review the current situation on the market. 330 business entities were involved in the first phase ofour research. The aim if this article is to explore the innovative activity of small and medium enterprises havinga character of family businesses in the regions of Slovakia, and also identify those important determinants thatinfluence the innovation ability of the family businesses. The Chi-Square Test of Independence, the Pearsoncorrelation coefficient and the mean value statistics were applied in the research. The findings of our case studyaimed to reveal the trends linked to the innovation activity of family businesses.

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