Selected Aspects of Innovation Financing in Polish Family Firms

Creating conditions for knowledge-based economy is an appropriate response to globalization phenomena and real needs of enhancing national economy competitiveness. The base of economic and social development increasingly depends on new technologies, high-qualified and competent labour force, the potential of high schools and R&D centres, ITC infrastructure and the government pro-innovative policy as well. There are no doubts, that we have to do with fundamental changes determined by intellectual capital - human and social ones. Poland should benefit from its UE membership privileges, opportunities and draw up a proinnovative policy, which will help the economy to become aspiring to a knowledge-based one at least. The business capabilities of creating and implementing innovations resulting to high value added products and services seem to be critical for the process. Consequently, the business access to convenient sources of financing their innovative activities makes it possible. In every market economy family businesses constitute the majority of business population. In Poland over 70% of businesses are under the control of families. Therefore it is important to get to know how the innovative processes proceed in such business entities from the financial point of view. Referring to the literature studies and empirical research (including own ones) on family entrepreneurship innovative activity, the paper presents the results of the author's main, survey research of 115 family businesses ranked in The Forbes Diamond List in 2016 (Polish edition) and refers to the research hypotheses mentioned earlier. It also contains the methodology description.