SaS to Focus on Family Businesses with Help from Economist Nadova Kroslakova

Bratislava, 11 May (TASR) - The opposition Freedom and Solidarity (SaS) party plans to prepare systemic measures for family businesses with the help of economist Monika Nadova Kroslakova, an associate professor at the University of Economics in Bratislava, SaS leader Branislav Groehling told a news conference on Monday. According to Nadova Kroslakova, family businesses make up some 60 percent of entrepreneurship in Slovakia and account for half of employment in the private sector. In addition to standard problems, they face specific entrepreneurial challenges, such as generational transfer. "For this reason, it's very important to prepare systemic measures and legal tools that would help them to navigate these challenges," stated Nadova Kroslakova, who also serves as the president of the Slovak Business Alliance (PAS) and is a founder of the Family Business Centre. She's also a member of other professional organisations. Nadova Kroslakova, who intends to act as an independent expert for SaS, also pointed out that, according to international statistics, up to 70 percent of family businesses don't survive generational transfer, and she presented trusts and foundations as suitable tools that are already being utilised in the Czech Republic and Liechtenstein. "If we don't want such capital to leave the country, it's very important to create these tools for them here in Slovakia," she added. jrg/df