Welcome to the Succession Ready E-zine
Welcome to Succession Ready!
According to the European Commission, in te European Union (EU) around 150.000 failed business successions of small and medium-sized enterprises (SMEs) per year put approximately 600.000 jobs at risk.This corresponds to a failure rate of about 1/3, with a high number of unreported cases.
Insights from Our Research
How to Smoothly Transfer your Business: Lessons for our Investigation
For many businesses topic of succession is not prioritised and in many cases is addressed in a long overdue fashion. There is a great deal of focus placed on day-to-day business activities, and succession is pushed further into the future, it is not a priority. The importance of succession planning must be emphasised, particularly in smaller businesses. Succession should not be treated it as an isolated event, but as an integral part of the business planning process and continuously prepared for. Succession planning should…
How is Succession supported locally in Germany?
Succession planning is a critical issue for small and medium-sized enterprises (SMEs) in Germany. According to a survey conducted by the German Federal Ministry for Economic Affairs and Energy, almost 90% of SMEs in Germany are family-owned, and around 50% of their owners plan to retire within the next 10 years. However, only a small percentage of these SMEs have a succession plan and a successor in place, which poses a significant risk…
A word from a succession expert
JJ O’Connell’s Key to Success: Preparation, Planning, and Implementation in Family Business Succession
The University Industry Innovation Network (UIIN) had the unique chance to speak to Marie Depelssemaker, the secretary general of Transeo, one of the largest networks in Europe when it comes to succession. Marie has an extreme wealth of knowledge in transfers and acquisitions of businesses, international relations, and communication. Within Transeo…
Case studies: Stories from successful successions
Succession in Germany: the story of SONOTEC
SONOTEC GmbH is a leading specialist in ultrasonic measurement technology. With around 200 employees, the manufacturer develops and manufactures customer-specific ultrasonic transducers and sensors as well as test equipment and measurement technology solutions at the Halle (Saale) site. SONOTEC GmbH is a family owned business that has recently been through the succession process. The succession took place as part of a planned handover within the family…
Succession in Belgium: The Value of Intermediary Services in Successful Business Transfer
The importance of external and impartial support in ensuring successful leadership transfer cannot be understated. Experts and literature agree that without the assistance of intermediary services, companies often face unsuccessful transfers that can lead to bankruptcy or closure. Each year, approximately 150,000 SMEs in the European Union fail to transfer leadership, resulting in bankruptcy or closure. This case study focuses on Risterm, a Belgian-based SME specializing in industrial valves, and highlights…