Then, Max Hogeforster – Chairman of the Hanseatic Parliament | Baltic Sea Academy (Germany) has represented the Inbets+ project aimed at supporting small and medium-sized enterprises facing the business transfer process. Under the project, innovative business transfer models, financing models, as well as tools for improving the qualifications of entrepreneurs were developed, tested and implemented.
Mr. Hogeforster noted that the most common challenges businessmen face when transferring business to successors are lack of time or funding, difficulty in finding a suitable successor and lack of know-how. But the main problem is time: the owners of the companies believe that they will be able to transfer the company to the successor in 2-3 months, but in reality it takes 2-3 years.
In Germany, 842,000 medium-sized business owners want to leave the market by 2025. 61% of them expect to transfer the company to successors. About 53% of entrepreneurs expect family members to start their own business, but children are often reluctant to become the heirs of family companies. A special website has been created in the EU, which contains information about businessmen who want to find a successor or become one.