Critical success factors in the transition of German family-owned manufacturing SME companies to external management

Business succession is the biggest challenge for every entrepreneur in the entire career. The successful handover is a lengthy process with many hurdles. It represents an extreme situation for both the former owner and the successor. By 2027, a gigantic generation change within SME is awaiting us in Germany. With more than 1 million companies, a company succession is imminent. For the German SME, this represents an economic powder keg. Many medium-sized family businesses have already failed in the complex project of a successful succession. This workbook helps you navigating your business confidently through the troubled waters of the succession process. In doing so, you adopt different perspectives for a holistic view of the process. Whether it is a lawyer, tax consultant, employee or banker - you develop a sense of each party's point of view. Even the family – though not directly involved in the process - usually has a big influence on the succession and will be examined critically. The most important person in company succession is, of course, the successor himself. You will follow all typical situations from the point of views of the successor and thus will have a clear understanding of the transfer process. At an early stage, the questions arise whether the successor himself represents a solution at all or based on which skills he is chosen. Motivation, experience and training – that is the personality profile - are the decisive factors. A serious decision, with far-reaching consequences for many people and their families. Hands-on, this book guides you through all stages of the succession process. Thanks to detailed checklists you will always know what to do. In addition, you will learn all the necessary qualities and skills of a change manager. This workbook gives you the necessary vision to lead the company into a successful future. A follow-up guide for the smallest company to a medium-sized family business. Suitable for the following successor processes: - Business succession in the family business -Company succession through company sale - Business succession in SME -Business succession within the family Other topics to be covered: -Business valuation -Company law succession - Sale of companies - Business exchange - Tips on the topic: „Successor wanted“ - Business acquisition - and much more.