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Business Successors A changeover in generations will take place at 700,000 small to medium-sized enterprises during the next ten years. 5,000 firms are forced to close each year, because the process of managing the succession of the firm is dealt with unprofessionally or is wrongly timed. The psychological component certainly plays a large role here as well. Taking over a firm is not a game, but, in fact, represents a complex set of circumstances. For those starting-up a business taking-over an existing firm can represent a great opportunity. The mistakes that lead to the failure of a takeover can be avoided with competent and independent consulting. The incorrect calculation of the value of a firm, financing and shareholders' equity requirements (Basel II) and false tax estimates count as the most frequent mistakes made here amongst others. |
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