INVESTIGATING THE LIQUIDITY OF FAMILY BUSINESSES IN BULGARIA

Velizar Petrov

Abstract


Family businesses are at the core of a sustainable regional business ecosystem. They often rely on equity or loans from owners, rather than external investments and loans, which limits opportunities for rapid growth and affects liquidity. Many of them have a conservative approach to financial management, seeking to minimize expenses and liabilities, but this usually limits their growth. The report includes a study of financials and calculation of liquidity ratios of 20 Bulgarian family businesses over a 10-year period.

Keywords


family businesses, sustainable business ecosystem, financial ratios

References


(1) Commissioners Tajani and Hahn, Foreword of Guidebook No. 3-Facilitating Transfer of Business 2012

(2) EC, Ref. Ares (2014)76082 - 15/01/2014; Final report of the European Seminar on the Transfer of Businesses, Vienna, 23-24 September 2002

(3) COM (2006) 117 final: Communication from the Commission to the Council, the European Parliament, the European Economic and Social Committee, and the Committee of the Regions - Implementing the Lisbon Community Programme for Growth and Jobs, Transfer of Businesses – Continuity through a new beginning

(4) COM (2012) Guidebook Series How to support SME Policy from Structural Funds. Facilitating Transfer of business

(5) COM (2006) 117 final, Transfer of Businesses – Continuity through a new beginning

(6) COM, Ref. Ares (2015)2182735 - 26/05/2015, “Business Dynamics: Start‐ups, Business Transfers and Bankruptcy”. The economic impact of legal and administrative procedures for licensing, business transfers and bankruptcy on entrepreneurship in Europe.; Final report 2011


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