Specialists for business succession in the Ruhr region are in demand. In NRW and especially in the Ruhr conurbation, around 29,400 companies are ready to be handed over by 2018. This is according to statistics from the IfM in Bonn.

Entrepreneurs not only have a special responsibility towards the transferee, but also towards their employees. For this reason, it is important to deal with the issue at an early stage. We often hear in the initial discussions that this is ‘too early’, ‘I’ll get to you in the next few years’. Succession is not important right now. The operative business comes first. This (or something similar) is the argument we hear. However, the importance of finding a succession solution in good time affects not only the individual company, but above all its employees. A look at the relative figures in NRW provides more information.

Looking at companies in NRW relatively:

38 companies per 1,000 companies in NRW are up for transfer. (Source: IfM)
461 employees per 1,000 companies in NRW are affected. This puts NRW at the top of the national league. This means that an unregulated company succession in the Ruhr region can lead to the loss of many jobs.

Large companies with many employees are located around the Rhine and Ruhr. The Ruhr region is changing and is successfully transforming itself from an industrial centre to a high-tech and service sector. In the case of a company succession in the Ruhr region, it is particularly important to focus on the employees of the company to be handed over in order to successfully complete the change and thus also a succession to the next generation.

The special requirements for advisors in the Ruhr region

Of course, a good succession advisor in the context of a company sale or a company purchase must meet all the usual requirements such as company valuation, business management know-how, negotiation skills, moderation and/or business mediation and others. Like every region in Germany, the Ruhr region has its own peculiarities that must be taken into account as an advisor. The most important are:

Always Keeping an eye on change retain: This applies, for example, to the selection of MBI candidates. The advisor has to check their skills especially for future requirements. A good advisor tries to create a win-win situation for all parties involved: First, he helps the entrepreneur to find a suitable candidate for the company succession, thus securing the future of jobs and employees. At the same time, due diligence dictates that the potential buyer also be checked to see if he could be happy with the company.
At Eye level with the entrepreneur be: The people in the Ruhr region are open but direct. An advisor should speak the language of the region’s entrepreneurs.
Good network Must be present: Especially in the Ruhr region, people are literally ‘close together’. A good network can save valuable time in the search for potential company successors, especially in M&A processes.
Honesty and transparency is very important, especially in the Ruhr region. Here, the commercial handshake often still counts. Important supplier relationships are often maintained on a personal level without a written contract. Nevertheless, even in the case of a company succession in the Ruhr area, the details of a generational change should be set out in writing and, depending on the form of transaction, also (notarised).