Should I sell my furniture company? How can a succession within the family succeed in the furniture industry? These are the questions many medium-sized furniture retailers are currently asking themselves. Parallel to the comprehensive consolidation of the industry, every second furniture dealer, including many kitchen studios, is facing the question of succession. Because already today, every second company director is older than 55. If nothing changes, in just 5 years about 74 percent of all company bosses in businesses with a turnover of between 500,000 and 25 million euros will be older than 55. Many of the more than 3,200 affected businesses, most of which are family-owned, will then be facing a generational change at the latest. What should you pay attention to when preparing the handover of your business?
The authors Ingo Claus and Axel Bergmann explain in this article which factors influence the choice of succession and how the ability to act in the company is ensured. In addition, they discuss how the three dimensions of “can”, “want” and “may” influence the success of a generation change.
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