Module 2: Transferring Business:

Challenges and Potential Solutions

Summary

Module 2 provides guidance on navigating the succession process within your SME, focusing on ensuring business continuity, growth, and legacy. Succession planning is emphasized as a comprehensive endeavour, that goes far beyond filling a position and ensures that the business thrives under new leadership. The module helps you understand theoretical models and their practical applications, addressing challenges such as navigating change and preparing for a smooth transition.

In this module, you will learn to create a strategic plan, identify critical challenges, and comprehend what succession entails for family businesses. Moreover, you will explore various self-reflection questions to assess your business’s future direction and your role after the succession. 

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Additional Resources

INSIST Project – Cases of Family Business Successions in European SMEs

According to the Global Family Survey 2014, family business succession planning in Europe remained a key internal challenge between 2012-2014. This report highlights findings from the INSIST (Intergenerational Succession in SMEs Transition) project on challenges faced in SME transitions in UK, Poland and Hungary.

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Guiding Family Businesses Through the Succession Process

This article examines how receiving gratitude positively impacts the well-being of those who help others. It highlights the mechanisms through which gratitude enhances the helper’s sense of well-being and distinguishes between proactive and reactive helping behaviors.

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Prenos družinskega podjetja – PREVZEM ODGOVORNOSTI NASLEDNIKOV IN UČINKOVITO NADALJNJE VODENJE

Seminar on diverse succession-related topics (e.g., leadership, family implications, planning, etc.).

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IHK24 – Unternehmensnachfolge

IHK24 ist ein Verbund aus 62 Industrie- und Handelskammern in Deutschland. Dieses kurze Video gibt einen allgemeinen Überblick über den Nachfolgeprozess. / IHK24 is a network of 62 chambers of industry and commerce in Germany. This short video gives a general overview of the succession process.

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Facilitating Succession and Transfer of Small and Medium-Sized Enterprises in European Regions – A Guidebook

This guidebook and its research are results of the Succession and Transfer of Business in Regions (STOB) project’s interregional collaboration. It addresses the complexities of business succession in SMEs within the EU, covering various types of transfers from family-internal to external, and mixed solutions. This guidebook aims to provide pathways on the entire transfer process from initial considerations to completion and beyond.

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Akademija za prenos lastništva v družinskih podjetjih in mreženje naslednikov

Succession Academy (Free access)

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Family Business Succession – Empowering the Next Generation to Lead the Recovery

The COVID-19 pandemic has accelerated the business succession process due to founders’ deaths and liquidity issues. The European Commission’s timely intervention is crucial as business transfers offer significant growth and recovery opportunities for Europe. This report highlights the ways support can be provided for successful family business transfers.

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Case Studies on Transferring Challenges and Solutions

Case Study 1 – Preparation for the Succession Process in ‘Flowers by Hazel’

Case Study 2 – Crucial Competencies for the Succession Process

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Module 1: What is the meaning of succession

Module 3: Psychodinamics of Family Relationships During the Succession Process