With 8.9 million European self-employed individuals currently over the age of 55, business succession is emerging as the ultimate sustainability challenge.
Successful succession planning shouldn’t be left to the last minute. The European BS4INNO (Erasmus+) project highlights the 5 key signs indicating that your business needs a transition plan immediately:
- Owner Dependence: Operations rely exclusively on your personal knowledge.
- No Successor: There is no ready replacement identified.
- Informal Processes: Critical business functions are not officially documented.
- Lack of Planning: The company’s future has never been openly discussed.
- Conflicting Expectations: Family, staff, and partners have different views on the “next day.”
Through #BS4INNO, SMEs gain access to tools and training for a smooth business transfer.
Learn more at: https://bs4inno.eu/
