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According to a calculation from the Institut für Mittelstandsforschung (Institute for Small Business Research), approximately 300,000 small business operations face a generational change or change in management within the next few years.
About 20% of the successor demand is due to the unexpected retirement of the owner. Therefore, succession planning in companies and family businesses is extremely important, and also a challenge.
The importance of carefully considering core issues such as strategy, management, and finance at an early stage in the succession procedure goes without saying. The decision has to be made whether a suitable succession regulation should be made within the family, by outsourced management, outside family, or within a management-buy-in and/or management-buy-out concept. A complete sale to financial investors or strategic partners needs to be looked into by professionals.
Here, a high degree of expertise, broad experience and target-oriented networks are required in order to make the right decision. Generally, family members make decisions based on their feelings. It is our belief that in order to avoid undesirable developments, advice from external consultants is vital.
With our solid foundation of varied experience in this field, we are able to devise and implement realistic and acceptable solutions together with the owner, for virtually any issue regarding succession.