The Current Legislative Framework of Family Owned Small and Medium Enterprises: Case Study of the Czech Republic and Poland
The Current Legislative Framework of Family Owned Small and Medium Enterprises: Case Study of the Czech Republic and Poland

Summary/Abstract: The research activity of the authors has focused on the synergy between family business and the legal environment in the Czech Republic. The findings are grounded in the empirical research conducted in more than 300 small and medium sized family enterprises in the Czech Republic and Poland. The paper examines especially the aspects of family business handover and the legal environment of the family entrepreneurship. The aim of the paper is to identify the key factors of development of family business in culturally close “post socialist” countries (the Czech Republic and Poland) in general and especially in relation to handover of family business to successors and the legal environment. To meet the research objective, a questionnaire survey was conducted in the Czech Republic and Poland. The paper points out theoretical dilemmas and practical disparities that arise as a result of underestimating the importance of family business development in the era of Industry 4.0 The main contribution of this study is to formulate a set of recommendations to support the family businesses regarding its definition and status in the legal framework. The presented findings deserve a wide theoretical discussion and further verification in practice with regard to new variants of dependence of family business and entrepreneurial environment in the Czech Republic.

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