Plan, check and prepare your corporate succession.
The same rules as for new businesses apply to corporate successions. Take time to carefully plan, check and prepare each and every detail. You can never start too soon to sort out your corporate succession! A thorough knowledge of the facts and competent advice are the basis for a successful corporate succession.
There are many issues that need careful consideration:
Which succession solution is the best option? Should the successor be from the company or the family? Would it make sense even to sell the company?
What general circumstances need to be taken into account? Is there a complex participation relationship or do the shareholders have different aims/interests?
Together with the experts from Private Banking for Entrepreneurs and M&A/Brokerage your corporate client adviser will develop a bespoke solution which is tailored to meet your ideas and individual situation.
If necessary, further LBBW experts will be called upon. Specialists from the units Equity Capital Markets (exchange-funded succession solutions), Brokerage, Financial Planning, Foundation Management, etc. are available to help figure out the best possible concept for you. Legal and fiscal experts, and as a rule your current partners in this area, will naturally be incorporated in the process. We would be glad to recommend noted experts if you so desire.
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The handover from one generation to the next in medium-sized companies runs more smoothly than previously anticipated. A current survey proves that the start into entrepreneurship is successful if well prepared.
Handing the company over to a successor is often one of the most difficult tasks that entrepreneurs face during their career. However, German SMEs are proving their strong leadership skills in tackling this challenge: good succession planning shows that they take the responsibility for their companies very seriously and ensures that their successors achieve positive results.
This is the outcome of a survey among more than one thousand SME successors titled "Generational Change in SMEs" conducted by the Centre for European Economic Research (ZEW), Mannheim and the Institute of SME Research (ifm) of the University of Mannheim, on behalf of BW Bank.
The survey is available for download free of charge.