The business transfer was an easy way for Morten to get started. He is the youngest son at the former owner. Morten and his wife both have an education in agriculture. The whole family (incl. Mortens sibling) wants the company to continue in the family’s ownership. The reality has the perfect setting for the life that Morten and his wife want for their family. The process of business transfer took about 1½ to 2 years. The biggest challenge has been to find out which rules on business transfer are the most advantageous for both parties. Here they talk most about the tax rules, which are very cumbersome in Denmark. So both parties have always been considering which model of succession was asked in their case.
Two advisors have been used in connection with the business transfer. An finance advisor and a generational change consultant. In fact, the economy has not been the big challenge, as it has not been necessary to obtain external funding. The two advisors come from an association for agricultural advisory services. The price for advice has been approx. 30,000 Euro.
|Owner||Martin Schmidt||Morten Beierholm Schmidt|
|Legal form of the|
|Owned by one person||Owned by one person|
|Number of employees||1||1|
|Brand||Model of transfer||Involved institution||Country|
|Agriculture||1 Family transfer||Finance advisor|
Generational Change Consultant