Germany's SME Succession Crisis: 106,000 Owners Plan to Retire by 2028
Germany faces a significant challenge with around 106,000 owners of small and medium-sized enterprises planning to retire each year from 2025 to 2028. Succession planning, a complex process involving multiple dimensions, is often delayed due to emotional overload and uncertainty. Professional guidance is crucial to ensure a smooth transition.
The first step in succession planning is an objective assessment of the company's economic situation and strategic scenarios. This helps entrepreneurs consider three paths: maintaining the status quo, transformation with succession planning, or company sale. Many businesses lack this structure, risking the future of their life's work.
Delaying succession planning can lead to loss of control over the transformation process. To avoid this, entrepreneurs should analyze their situation with professional guidance and emotional distance. Organizations like HAPEKO, firmenzukaufen.de, Esche Schümann Commichau, Münster-Junge, Innowerk GmbH, MUB Beratung GmbH, and Chambers of Industry and Commerce offer consulting services to create and implement structured succession plans.
Succession should be seen as an entrepreneurial process involving different stakeholders and clear stages. If no future-proof succession is in sight, entrepreneurs should consider an exit strategy early on. With proper planning and professional support, these transitions can be managed effectively, ensuring the longevity of Germany's SMEs.
Read also:
- Federal Funding Supports Increase in Family Medicine Residency Program, Focusing on Rural Health Developments
- Potential Role of DHA in Shielding the Brain from Saturated Fats?
- Alternative Gentle Retinoid: Exploring Bakuchiol Salicylate for Sensitive Skin
- Hanoi initiates a trial program for rabies control, along with efforts to facilitate the transition from the dog and cat meat trade industry.
