INBETS BSR aims to examine, further develop and design innovative and transferable models and tools, facilitating business transfers of small and medium-sized enterprises (SMEs), make them widely available and implement them in companies. One of the main tools to achieve these goals is Business Successors Training Educational Program, which aims to provide the knowledge and capacity building of those with business practices or business education necessary for the successful management of business transfer processes, in order not only to keep existing SMEs but also to increase their market value through innovative, successful business growth.
Vytautas Magnus University, one of INBETS BSR partners, developed this Business successors education training program for business successors (buyers, sellers, heirs), which consists of 3 separate modules lasting a total of 18 hours. All modules focus on the essential skills and competencies necessary for a successful business transfer process, highlight the basic issues of business transfer and their practical solution scenarios, and allow participants to choose training modules that meet their needs.
The first step of this program adoption is to test it with a target group, so that at least 30 people would be trained for business succession, and receive their feedback on the satisfaction with:
This implementation report presents the results of the first testing of Business Successors Training Education Program, which was carried out on 20-22 of October, 2020.
The target groups of Business Successors Training Educational Program are:
Since the target group is wide, the registration for the training was carried out using Google Forms, so that it would be widely available for everyone who is interested in participation of testing of a new training program.
The testing of Business Successors Training Educational Program attracted 67 participants in total. Participants’ list is attached as Annex 1 to this report.
The testing of Business Successors Training Educational Program was carried out as follows:
Each training day started with a welcome word and presentation of INBETS project from prof. Vytas Navickas, who is the project manager of INBETS at Vytautas Magnus University. The participants were introduced to the main goals of the project as well as some visual information, available on the official project website https://inbets.eu/, followed by a presentation of lecturers, who were responsible for the first testing of Business Successors Training Educational Program. Training agenda is attached to this report as Annex 2.
At the end of each training day Vytautas Magnus University has served the certificates of attendance to all the participants (106 certificates to 67 participants in total) and collected the feedback regarding each testing in order to assess the need for revision of the training (example of the certificate attached to this report as Annex 3, example of filled in evaluation form attached to this report as Annex 4, photos of the trainings attached to this report as Annex 5, training material attached to this report as Annex 6).
Since the testing of training was carried out during the global Covid-19 pandemic, every testing session was translated live on Vytautas Magnus University Facebook account, which can be found here: https://www.facebook.com/VDU.svietimo.akademija. The information about the Business Successors Training was presented on Vytautas Magnus University website and social media accounts (Facebook) for the dissemination of the training and its results (examples of dissemination attached to this report as Annex 7).
The evaluation of participants’ satisfaction with the module(s) was carried out in three parts:
Part 1: Assessment of satisfaction with the organization / educational institution for the module(s)
Part 2: Satisfaction with the trainer’s skills / competences for the module(s)
Part 3: Assessment of personal benefit for the module
2020 October 21, 09:00-14:00 (6 academic hours)
„Crowne Plaza Vilnius“, Conference Hall, M. K. Čiurlionio st. 84, LT-03100 Vilnius
Lecturer – Nerius Jasinavicius
2020 October 22, 09:30-14:30 (6 academic hours)
„Crowne Plaza Vilnius“, Conference Hall, M. K. Čiurlionio st. 84, LT-03100 Vilnius
Lecturers – Sergej Butov ir Kęstutis Adamonis
2020 October 20, 09:00-14:00 (6 academic hours)
„Crowne Plaza Vilnius“, Conference Hall, M. K. Čiurlionio st. 84, LT-03100 Vilnius
Lecturer – Artūras Kapitanovas
On the 20-22 October, 2020 Vytautas Magnus University, one of the INBETS BSR partners from Lithuania, successfully run the Business succession education training program for business owners and potential successors (entrepreneurs, students, graduates and others).
During 3 days trainings participants deepened their knowledge on three important business transfer aspects:
• “Financial optimization in business transfer processes”, lectured by Mr.A.Kapitanovas, experienced tax advisor;
• “Determining the competitiveness of companies and developing strategies”, lectured by well-known business consultant
Mr.N.Jasinavičius, and
• “Legal environment and business transfer logistics”, presented by the law firm Sorainen partners Mr.S.Butov and Mr.K.Adamonis.
Participants could choose particular one day training or could attend all trainings. To allow more participants to attend the trainings and decrease the risk of COVID-19 spread, the trainings where also broadcasted online. All registered participants received the certification of attendance form the Vytautas Magnus University’s Prof. Mr.V.Navickas.
The success of the pilot trainings of such nature in Lithuania, proved that business transfer topic is of high importance for matured entrepreneurs and business founders, as well as interesting for potential successors.
