Who can help?
In every one of the following countries, different organisations who support the owner in the succession process exists.
The Centre for Owner-managed Business offers training, advice and help in relation to business succession. They have four projects (conferences and workshops) related to: digital training of future leaders, psychological aspects of owner-management and the transfer of ownership process, the importance of the board and management in the transfer of ownerships and the growth through business transfer in Danish owner-managed businesses.
Ejerstrategi-kortet the ownership strategy map, a planning tool to help owner managers start planning the future ownership and leadership of their business. The owner strategy map provides specific guidelines on how to incorporate future management and ownership in businesses. 1,300 owner managers and advisors have already made use of this tool.
Match-online – platform where you can seek the advice in connection with business transfer.
Business Aabenraa offers entrepreneurs support related to concept review, business plans, budgets, preparation of roadmap, contact with relevant advisors e. g. accounting, law, marketing etc.
Erhvervshus Sydjylland offers assistance to entrepreneurs in newly started companies, as well as Business Fredericia
Nexxt-change is an Internet Platform of the Federal Ministry of Economics and Energy, the KfW Bankengruppe, the German Chamber of Commerce and Industry, the Central Association of German Crafts, the Federation of German People’s Banks and Raiffeisenbanken and the German Savings Bank and Giroverban. The aim of platform is to bring together entrepreneurs and start-ups interested in succession. Entrepreneurs as well as start-ups and founders can browse the database with the company sales and the firm buying offers or place the advertisement themselves.
The nachfolg-o-mat (“success-o-meter”) is an online tool that gives a general overview about business succession in Germany. Each user can answer different questions and will then receive an individual analysis about their succession knowledge. In addition to that, the users can see in which areas they still need to acquire more information or knowledge and which contacts might be useful for that.
The National Agency for Women Start-ups Activities and Services (bga) offers the political, business, academic and public sectors a platform for information and services related to women entrepreneurship in all areas and phases of company foundation, consolidation and business succession.
- E&Y, Delloitte, PWC,
- In case of smaller companies, the local companies come into play, such as INVESTMENT AGENCY
- Estonian Chamber of Commerce and Industry
There are numerous organisations involved in business transfer issues, i.e. ministries, tax administration, enterprise associations, enterprise agencies, lawyers, banks, insurance companies, chambers, private consultants, cities, municipalities, etc.
Some examples are given here (see also http://www.theseus.fi/bitstream/handle/10024/97257/B108.pdf;sequence=1)
National- The Federation of Finnish Enterprises: support for members: membership services; Enterprise marketplace (Business Exchange, Yrityspörssi) for buying and selling enterprises
- Enterprise Finland (Ministry of Economic Affairs and Employment): see services
- Perheyritysten Liitto: coaching for family successors
- Finnish Business Transfer Society: advice and councelling for business transfers, business value determination calculator for basic value evaluations, links to business marker places
- Centre for Economic Development, Transport and the Environment
Regional- (member of the Federation of Finnish Enterprises) Satakunnan Yrittäjät: services only in Finnish, but in a nutshell: advice on selling and buying, advice on procedures for enterprise ownership change, advice on taxation and value determination, further contacts to other expert services; Regional enterprise marketplace for selling and buying enterprises.
- Regional: Prizztech Ltd: services include: counselling those who are planning to continue an existing business, directing to experts, making an action plan, consulting a tax adviser
Adizes Institute in Latvia They are consulting companies in business transfer processes, mainly those processes which concern employees and people management, not financial.
PwC Latvia They could help in legal aspects of the business transfers.
KPMG Latvia They are mainly dealing with business transfer processes which are related to finances (company value evaluation etc.).
Public Institution Lithuanian Business Support Agency (LBSA) is a non-profit institution established by the Ministry of Economy for the purpose of administering European Union (EU) support and co-financing funds. As the executive institution in the structure for the administration of EU funding in Lithuania, LBSA administers EU funding granted for the development of Lithuanian business, R&D, tourism, and the energy sector.
Business transfers can be also financed by commercial banks, credit unions, investment firms and other financial or credit institutions.
“Invega “ (National promotional institution) through the application of innovative and effective financing models and instruments designed to provide financial and other services to businesses. Invega manages financial instruments designed to help with starting up or expanding a small or medium-sized business, i.e. soft loans, loan guarantees, interest rate subsidies, and support for the first job. The Entrepreneurship Promotion Fund instrument offers the best conditions for newly established and young businesses. Invega cooperate with the banks, that grants loans from the Open Credit fund towards for business development (both investment and working capital loans). Invega also helps facilitate access to finance for SMEs by guaranteeing to financial intermediaries the repayment of up to 80% per cent of the first loan part. The bank secures the repayment of the remainder of the loan with collaterals offered by the enterprise
Through the subsidy schemes (Global Grant measures). Invega subsidise for companies portion part of the interests paid. Businesses can make use of the opportunities offered by the Interest rate subsidies instrument to cover up to 95% per cent of the interests paid on loans both guaranteed and not guaranteed by Invega.
Support for the First job provided for employers companies on the employees who employed for the first time, workers with no prior work experience. may be reimbursed some of the salary costs Part of the salary costs associated with the first-time employed young person (up to 23.3 per cent from the salary calculated). are reimbursed.
Special support programmes for training and mentoring on including business transfers topics, are not available in Lithuania eitheramong subsidy measures administered by INVEGA, however such mentoring/training topics are not so popular yet.
Invega is the main public investor into the private equity, venture and early stage capital funds. Invega also has the daughter company UAB “Kofinansavimas”, that is managing several Co-investment funds, investing alongside business angels into start-ups and growing SMEs, commercialisation of ideas generated in scientific and research institutions through the implementation of research, development and innovation (R&D) activities.
Financial support can be received only for general business consultations according to EU structural assistance measures. But they are targeted at other aims of business development more.
A certain proportion of EU structural assistance is used to finance public services for business.
Agency for Science, Innovation and Technology (MITA)
It is the main governmental institution, responsible for implementation of innovation policy in Lithuania.MITA provides free of charge services for clients from business, science and public sectors, interested in possibilities to develop strong cooperation relations with international partners and get financial support for research and innovation projects.
The main activity is the coordination of national activities and international programmes (HORIZON2020, EUREKA, EUROSTARS) of research, technological development and innovation and other financial schemes (innovation vouchers, protection of industrial property rights). MITA provides national financial support for projects participants.
MITA also promotes business and science cooperation, commercialization of research and protection of intellectual property rights.
Public Company “Versli Lietuva“(Enterprise Lithuania) has been playing a considerable role in business consultations and search for business partners. It is a non-profit agency under Ministry of Economy established to promote entrepreneurship, support business development and foster export. Enterprise Lithuania is a reliable adviser and assistant for start, growth and export of national businesses with focus on SME’s.
Looking for investor/ buyer
The basic browser for PE/VC funds in Poland
Portal which facilitates search for suitable angel investors – private investor
Matching platforms for business transfer in Poland: Szukam-inwestora.com, Sprzedambiznes.pl, Biznes2biznes.com, Investing.pl, Bizvendo.pl, Startinvest.pl, Intereso.pl, Biznesoferty.pl, Biznesmakler.com, Sprzedajkupfirme.pl, Inwestbiznes.pl
Mentoring and training – Business and professional associations
Chambers of Commerce and Industry is the largest independent business organization and represents the largest number of entrepreneurs, combining more than 150 business organizations e.g. 65 Chambers industry, 59 Chambers regional, 18 Chambers bilateral, 4 other organizations (associations, employers’ associations and foundations). National Chamber of Commerce in Poland and their members are partners in many projects related to the support of SME enterprises (also in mentoring/training in business transfer process).
This organization helps businesses innovate and grow on an international scale.
for Central Poland, for East Poland, for West Poland and for South Poland:
Fundacja Firmy Rodzinne is a foundation supporting family businesses and their surroundings. Among other things, the Foundation conducts mentoring meetings for entrepreneurs of family businesses and International Generation Congresses in various Polish cities. In the Foundation’s bulletin you can find many interesting and important articles on the current economic situation in Poland.
Parp.gov.pl agency is involved in the implementation of national and international programs financed from the EU structural funds, state budget and multiannual programs of the European Commission; it pays special attention succession in family businesses.
Inicjatywa Firm Rodzinnych is a public organization operating for the benefits of family businesses
The Family Enterprise Inititive together with Wroclaw Univeristy of Economics offer a one-year post-graduate study (Effective successor of a family business), which educates a conscious and competent successor, who will manage the family business in a way that enables its survival and development.
A number of organizations in Sweden provide advisory services and support for business transfers.
Some services are free of charge while other charge fees.Guides for business transfer
Some organizations offer free guides and tips about business transfers.
• Download Almi`s guide about buying a business.
• Download Ludvig & Co´s step by step guide for transferring a family business to the next generation.
• Danskebank offers guides and tips about preparations for a business transfer.
• Företagarna offers tips about the business transfer process.
• Verksamt.se offers information about buying a business. They also have information about selling a sole trader business (enskild näringsverksamhet), trading partnership company (handelsbolag) and a limited liability company (aktiebolag).
• LandshypetekBank offers tips about transferring a family business to the next generation.General support
Almi, Nyföretagarcentrum, and Connect Sverige support SMEs and can help with a business transfer. They also provide webinars, training, and information meetings about selling and buying businesses.
• Almi
• Nyföretagarcentrum
• Connect SverigeLegal and financial support
Most banks and audit firms can provide support with law, tax, and finance issues during business transfers.Supports sellers and successors:
• Swedbank
• Nordea
• PWCSupports sellers:
• Ludvig & Co
• SEB
• HandelsbankenMergers & Acquisitions Companies
M&A Companies advise and support the selling and buying processes during business transfers.
• Carnegie
• Censor
• Ekenberg & Andersson
• Euc
• Excore
• Exitpartner
• Freja partner
• HDR partners
• Länia
• Svensk företagsförmedlingFinding businesses for sale
Several sites show available business, properties, and land for sale.
• Bolagsplatsen is Sweden´s biggest marketplace for business transfers.
• Svensk företagsförmedling is another big marketplace for business transfers.
• Objektvision shows available companies, properties, and land for sale in Sweden.
• Blocket is a selling and buying site. Companies can post an ad that their company is for sale and potential buyers can post an ad that they are looking for a specific business to buy.
• Exitpartner shows available companies for sale and buyers that have requests for specific businesses.
• Länia shows available companies for sale.
• Ludvig & Co provides forestry and agricultural properties and businesses for sale in Sweden.
• Euc specializes in business transfers in the café, restaurant, hotel and retail industry.Business transfers within the agriculture and farming sector
Some organizations are specialized in advisory business transfers in the agriculture and farming sector.
• LandshypotekBank is specialized in agriculture and forestry. They finance investments and entrepreneurial advancements that will develop the countryside.
• Hushållningssällskapet is an NGO that supports agricultural economic development in Sweden. They offer legal advice to farmers.
• Ludvig & Co provides legal and financial advisory when transferring a family business to the next generation.Book recommendations
There are several books in Swedish about business transfers.- Framgångsrika ägarskiften
(2018) by Satish Sen and Roland Dansell - När företaget går vidare i familjen: Guide till ett lyckat generationsskifte
(2018) by Annika Hall - Tillväxt till salu
Excore - Ägarskifte och generationsskifte: i företag och lantbruk
(2020) by David Gustafsson and Björn Lundén - Handbok för generationsskifte: familjen, samtalen och den personliga vägen till beslut
(2017) by Erik Hedblad
Podcasts recommendations
There are several podcasts in Swedish that discuss business transfers.- Exitpodden – En podd för dig som ska sälja ditt företag
- Styrelsepodden – Avsnittt 15: Framgångsrika ägarskiften med Roland Dansell och Satish Sen
- Företagarpodden –
- LRF Podden – Avsnitt: Ägarskifte
- Landet – Avsnitt 3: Banker och ägarskiften
- Mitt lantbruk – Avsnitt 19: Panelsamtal om ägarskifte från Borgeby fältdagar
PP6: on both national and regional levels the state policy implies a number of business support measures and the infrastructure of organisations providing financial and non-financial support to businesses has been created. However, there is no such organization that would have it as a mission to support business transfers. Entrepreneurs willing to get advice on business transfer issues may turn to private consulting companies and law firms.
PP7: There are no organizations, which can support the owners, interested in a family business transferFurther information on business transfers in Russia can be found here.
