Of 236,000 company owners who are already seeking a business succession this year and next year, 100,000 have not yet found a successor or have not even started looking for one. The situation of business succession in Hesse is more problematic than in the federal government. This is the sobering conclusion of the current SME Panel of the promotional bank KfW.

More business successions in Hesse than the national average

Approximately 17 percent of medium-sized entrepreneurs are aiming for business succession in Hessen in the next three years. Of the Hessian company owners, 38% are older than 55. For both key figures, the situation in Hessen is more explosive than in the federal government. This also shows that the succession problem in owner-managed SMEs is rapidly coming to a head in Hessen.

Perplexity in the search for a successor

The increasing tendency of many company owners to consider shutting down their business for lack of a suitable successor appears particularly problematic: according to the KfW study, one in five entrepreneurs is pursuing such thoughts. While the generation change within the family remains the most popular, alternative succession solutions are only considered by 2 out of 10 company owners.

Access to qualified successors crucial

But even if there is a willingness to look for a successor outside the family, many entrepreneurs fail in the task of finding and approaching qualified and suitable successors. Without outside help - for example from experienced succession advisors - precious time is lost and it is not uncommon for the half-hearted search for a successor to end in vain.

Involving a succession advisor can speed up the search considerably

When selecting an advisor, company owners should make absolutely sure that the advisor has very good access to top successors and does not have to start a lengthy search process first. Experienced succession advisors know which serious candidates are currently looking for companies and can thus quickly approach suitable candidates.