Welcome to the Succession Ready E-zine

Issue 4

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.

News from our project

Announcing the Finalization of Successor Package Modules

We are pleased to inform you that the R3 Successor package modules for the Succession Ready project have been successfully finalized. These modules are designed to provide comprehensive support and practical skills for potential successors in small and medium-sized enterprises (SMEs). The finalized modules include…

A beginner’s guide for succession planning

Result 2 is one of the main outputs of the Succession Ready project. The primary objective of Result 2 is to disseminate knowledge aimed at assisting Small and Medium Enterprises (SMEs) in effectively transferring ownership across various levels. This can be a transfer to a family member, or alternatively when there are no successors within the family, selling the business or an internal employee or external person. The Training Manual is the main…

 

On the topic of succession…

Leadership in Company Succession: Five Qualities for Success

Leadership is a term that is often used but not always fully understood. In the context of company succession, effective leadership is critical for ensuring a smooth transition and continued success. Leadership can be defined as the ability to manage and coordinate people to achieve a desired goal or objective. It’s not only about getting someone else to do something you want, but it’s also about fostering creativity and self-confidence in one’s team members which leads to success. Leadership isn’t exclusive to…

Succesion landscape at our partner regions

Supporting a Smooth Transition: How Ireland Encourages Business Succession Planning

Ensuring a smooth and successful business succession is crucial for the continued prosperity of any economy. Recognizing this, Ireland has implemented various measures to support business owners in planning for the transfer of their businesses to the next generation or new owners. This comprehensive approach involves tax relief…

Navigating Business Succession Challenges in Saxony-Anhalt

Demographic change poses major challenges for Saxony-Anhalt. The population is ageing and shrinking, which is affecting rural regions in particular. This also means that many entrepreneurs in Saxony-Anhalt are about to retire. Unfortunately, processes needed for successful business successions are often not well organized by the involved stakeholder entities. Such successful handovers of well-managed companies are, however, crucial to maintaining and strengthening the state’s economic power. Without a suitable successor…