A reminder beforehand: Although the house banks require
\nsince Basel II, an early clarification of the succession of the entrepreneur
\n– but notwithstanding this
\nmost owners of medium-sized businesses are concerned about
\nthis existential core question still far too late. You
\nthus bring the life’s work of generations and their
\nlong-serving employees in dire straits. All the same:
\nAccording to a study by the Bonn Institute for SME Research
\n(IfM) takes up the topic of entrepreneurial succession at
\nowner-managed businesses have come to play a central role in the
\non. But the study also brings up again the order of magnitude
\nand the explosive nature of the topic in a nutshell: “Each
\nEvery year, around 30,000 entrepreneurs look for an external
\nsuccessor,” says the scientific director of the
\nIfM, Prof. Dr. Frank Wallau. Affected by the problem
\nare “increasingly smaller companies. And due to
\nof the disproportionate share that smaller farms have in
\nof the total number of succession cases is expected to have
\nthe number of annual plant closures due to a lack of
\nSuccessors, which currently stands at around 6,000, will rise.” Significantly
\nIn addition, the number of companies that are active in the
\nsuccession are currently being sold, these are currently
\n21 percent of all follow-up cases. Declining, on the other hand
\nis the number of companies which, due to the lack of family-internal
\nSuccession to employees from within the company
\nare handed over themselves (10.2 percent). And: “The existence
\nof companies with only a small enterprise value
\nor of companies affected by structural change,
\nin their succession requires a high level of personal commitment.
\ninterest of the owner as well as of his possible
\nsuccessor ahead,” says Munich lawyer Dr.
\nJohannes Fiala.<\/p>\n
Nevertheless, more and more often a successor outside Ralf E. Geiling<\/p>\n (creditreform 4\/2007, 58)<\/p>\n From Creditreform – Das Unternehmermagazin from the Handelsblatt publishing group, issue 4\/2007.<\/p>\n
\nof the family. The reasons given by entrepreneurs were
\nin a survey conducted by the L-Bank that no children of their own
\nexist (17 percent), their own children are too young (11
\npercent), not interested in their own children (58 percent)
\nor not suitable (28 percent).
\nInstead, the transfer of the business to externally
\nacquired executives are gaining in importance: in 2006
\nmore than 1,600 companies via company exchange
\n“nexxt-change” to a successor.
\nThis free of charge exchange is an initiative of the Federal Ministry
\nfor Economics and Technology, KfW Mittelstandsbank,
\nof the Association of German Chambers of Industry and Commerce,
\nof the German Confederation of Skilled Crafts,
\nof the Federal Association of German Cooperative Banks and
\nRaiffeisen banks and the German Savings Banks and
\nGiro Association. Entrepreneurs looking for a successor,
\nas well as interested transferees can submit their profile via the
\nregional partners online in the exchange (www.nexxt-change<\/a>.
\norg) or during a personal conversation.
\nThe company, which is currently being founded, wants to break completely new ground.
\nlocated “Private Hanse University” in Rostock (www.
\nhanseuni.de). Peter L. Pedersen, President of the Private
\nUniversity, knows the problems of medium-sized entrepreneurs
\n– also when it comes to the targeted search for suitable
\nentrepreneurial successors. “Internationally, it’s
\nabsolutely common,” emphasizes Pedersen, “already among high school graduates.
\nto be on the lookout for future management trainees.
\nand to give the latter, in return for a commitment to
\nto finance their studies by working for the company.
\nWith this goal in mind, the Hanseatic University was the first German
\nUniversity organises its study programmes accordingly.
\nIn addition to the compressed, university-based course of study
\nstudents for almost three months each semester
\navailable to the company for a trainee career.
\nAnyone who has been looking for an entrepreneurial successor,
\nfailed beside the fundamental suitability often at the
\nrequired trust. In cooperation with the Hanse University
\nthe entrepreneur can choose up to three potential
\nto select suitable applicants: He finances them the
\nsix to ten-semester course of study leading to a Bachelor’s or Master’s degree
\nand can use them for this purpose in every second quarter in the company.
\nuse. Students who drop out of college,
\nare contractually obligated to pay the expended tuition funds
\nto be repaid. “Those who successfully complete the course will receive
\nan offer as a manager in the company or
\nin the event of a search for a successor, the offer of a takeover
\nof the company,” announces university president Pedersen.
\nAnd a final reminder: “In order to ensure the continuation
\nof the company, it is important to protect sick
\nPrune branches on the farm in good time. The duty to
\nRisk management at the stock corporation (KonTraG since
\n2002 \u00a791 para. 2 AkGes.) also has a radiating effect.
\nto all other corporations, such as limited liability companies, limited,
\nGmbH or Limited & Co KG. The omission leads the
\nEntrepreneur into liability with his private assets”,
\nsays Fiala and refers to tried and tested instruments such as legal
\nControlling, risk and insurance management
\n– also in relation to a promised company pension scheme
\nfor the employees. Ultimately, the exhaustion of
\nof structuring options through prenuptial agreements, inheritance contracts
\nand will – synchronized with the social contract
\n– to the hoped-for success for the entrepreneur.<\/p>\n