Family firms in Poland. The impact of the Covid-19 pandemic on the economic and financial situation of selected family firms

Abstract

Every business in Poland was affected by the crisis caused by the Covid-19 pandemic. The negative impact on industries varied, this was due to the specifics of each industry, such as providing direct-to-consumer services. Pandemic restrictions caused such companies to not function and often declare bankruptcy and close down in the market. In the study, the author focused on family businesses, which have their own characteristics and 99% are micro and small businesses. What because of their low level of savings, they operate in monthly accounts, using the principle of "from 1 to 30 each month". The reason for this is the low level of savings and profit generation. As a result, this type of companies is not immune to the negative factors that determine the functioning of family businesses. The purpose of the author's study was to obtain information on what are the effects of the pandemic in companies that are among some of the most affected industries in the economy. For this purpose, the researcher conducted a study using the interview method. With the information obtained in the qualitative research, the research objective was achieved. The result of this work was the recommendations placed at the end of the publication.