More than 500 companies are facing company succession in Limburg and Weilburg in the next five years. Succession planning is started too late and the search for a successor turns out to be difficult. These are the main findings of a survey on the subject of company succession by the Limburg Chamber of Commerce and Industry among entrepreneurs in the economic region of Mittelassau. This confirms a trend in the Limburg and Weilburg region that is causing concern nationwide.
Demographic change meets declining interest in successors
Due to demographic change and the declining interest in setting up a business, there are fewer and fewer potential successors in the Limburg CCI district compared to the growing number of businesses to be sold. Around 75 percent of entrepreneurs who are considering giving up their business say that they have started too late with the succession (50 percent) or that they have not found a successor at all (25 percent).
Company succession in Limburg: Active search decisive for success
Finally, the survey also confirms the widespread behaviour of many entrepreneurs not to start a systematic search for a successor in time. In the vast majority of cases, successors are only sought in the entrepreneur’s immediate environment. Only 9 percent of the survey participants stated that they actively search for an external successor. In contrast, the experience of the consultants from K.E.R.N ? Die Nachfolgespezialisten that an early, well-prepared and supraregional search for an external successor is crowned with success in most cases. The free information event organised by the Limburg Chamber of Industry and Commerce (IHK) as part of the nationwide IHK Action Day on Company Succession on 21 June 2017 is intended to show what entrepreneurs need to pay attention to and how mistakes can be avoided so that the search for a successor in one’s own company is successful. Thomas Dörr, partner of K.E.R.N ? Die Nachfolgespezialisten in Frankfurt presents typical pitfalls and mistakes in the search for a successor.
500 entrepreneurs in Central Assau affected
According to an analysis by the consulting firm K.E.R.N - Die Nachfolgespezialisten, around 500 entrepreneurs over 55 in the Limburg-Weilburg district will have to deal with the issue of succession in their own company in the next five years. “The evaluation shows the high importance of the succession issue for the economic region of Mittelassau,” says Thomas Dörr, partner at K.E.R.N.
Source Photo: City of Limburg an der Lahn
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