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Business transfer planning

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Business transfer planning The link between success and succession Katleen Van Havere, senior expert UNIZO 22 nd of April 2005, Portoroz, SLO – PowerPoint PPT presentation

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Title: Business transfer planning


1
Business transfer planning
  • The link between success and succession
  • Katleen Van Havere, senior expert UNIZO
  • 22 nd of April 2005, Portoroz, SLO

2
I. About transfer of businessesII. Facts and
figures (ING study 2004)III. What needs
to be done ?
3
About transfer of businesses
  • 610.000 SMEs changing hands each year
    (Netherlands 20.000 Germany 70.000 Flanders
    13.500)
  • 2.4 million jobs
  • Who will take over these businesses ? - Some
    worrying tendencies
  • More transfers outside the family circle
  • Starting up a new firm is more popular
  • Ageing population

4
About transfer of businesses (2)
  • Major socio-economic importance of successful
    tranfers (job creation!)
  • Preparing the successor
  • ING study, February 2004
  • competences (quality) and personality of the
    successor are crucial
  • Also confirmed by recent research (EIM, March
    2005, Netherlands) -gt www.eim.nl/mkb-en-ondernemer
    schap

5
Business transfers in the Netherlands, Germany
and Flanders
  • ING economic bureau, UNIZO and MKB Netherlands
  • Published February 2004
  • 1.300 SMEs - industry and services N, G, F
  • Perspective of the successor
  • Report
  • Preliminary definitions - focus
  • Size of the transferred enterprises
  • Objectives of the transfer
  • Assistance of advisors
  • Bottlenecks
  • Results after transfer

6
Focus
  • Transfer of ownership
  • the transfer of the ownership of an enterprise
    to one or more persons (private individuals) OR
    to another company or enterprise, who continue
    the commercial activity of the enterprise and
    want to guarantee the continuity
  • 5 types of transfer
  • Phases in the process of transfer
  • Measuring success by growth - three categories
  • Top of the class
  • Middle of the class
  • Bottom of the class

7
Transfer of ownership 5 types
Transfer to private individuals
5. Merger
8
Phases in the process of transfer of ownership
Phases
Actions
Orientation strategy search for companies
Preparation
Validation financial, legal and fiscal analysis
finding finances negotiating and concluding
the agreement
Negotiation and transfer
Implementing changes reaping rewards
Post-transfer
9
Average number of employees involved with a
transfer of ownership, by degree of success
The Netherlands Flanders Germany
Top 48 64 88
Middle 54 58 91
Bottom 68 63 84
Average (weighted) 57 62 88
10
Objectives of the top-of-the-class-enterprises
11
Assistance of advisors
  • 5 categories
  • Accountants
  • Banks
  • Business brokers
  • Lawyers
  • Tax advisors
  • Netherlands 94 ,
  • Flanders 91
  • Germany 83

12
Appreciation of advisors
13
Major bottlenecks, by type of transfer of
ownership
Netherlands Flanders Germany
Succession within family No bottleneck ( respondents) 53 70 63
Succession within family Finding finances 36 16 19
MBO Finding finances 47 60 29
MBI Finding finances 46 39 29
MBI Company culture/cooperation with personnel 17 0 25
Takeover/acqui-sition Company culture/cooperation with personnel 29 31 20
Takeover/acqui-sition Finding finances 26 27 11
Merger Company culture/cooperation with personnel 37 31 48
Merger Finding finances 14 19 4
14
Bottlenecks for the top of the class, by region
(in of the respondents)
15
Results, by region (in of the respondents)
The Netherlands Flanders Germany
Increased turnover 65 69 59
Increased number of customers 68 59 58
Increased profit 58 63 62
Increased employment 43 40 31
16
Dominant type of transfer by degree of success,
per region
The Netherlands Flanders Germany
Top of the class MBI, Takeover MBO Takeover
Middle of the class Family succession MBI, merger Merger
Bottom of the class MBU, merger Family succession Family succession, MBO, MBI
17
Business transfers in the Netherlands, Germany
and Flanders conclusions
  • Investing in education of entrepreneurs
    importance of professional advice
  • What about family businesses ?
  • How to finance a business transfer ?
  • Paying attention to the market of business
    transfers pays in terms of profit, employment,
    tax income for the government, innovation

18
What needs to be done ?
  • Parties concerned EU (EC), national
    governments, business organisations AND the
    enterprises themselves
  • Europe ?
  • Recommendation (1994) Communication (1998)
    Best report (2002) Final report Vienna (2002)
    MAP report (2003) good practice guide (2003)
  • A new Recommendation (?)
  • For the future
  • promotion (business transfers start-ups!)
  • research
  • support (awareness training assistance)

19
What needs to be done ? (2)
  • Business organisations UNIZO
  • March, 2004 UNIZO-conference on business
    transfers (SME-policy-day)
  • Action plan
  • 1. Sensitisation and information
  • 2. A transparant market place for buyers and
    sellers
  • 3. Improving the fiscal environment
    (inheritance and gift taxes)
  • 4. Better financial instruments
  • 5. Investing in professional advice
  • 6. More research to address unanswered questions

20
Sensitisation and information
  • UNIZO training institute (Integraal)
  • Book (practical guide) ca. 5.000 issues
  • Four seminars autumn 2005
  • Special program for SMEs with high potential for
    further expansion (KMO Contact)
  • Startersdag a yearly event for everyone
    interested in starting up a business
  • Draft code on corporate governance special
    attention to family businesses (family
    governance)

21
A transparant market place for buyers and sellers
  • www.overnamemarkt.be
  • Launched by UNIZO, April 2005
  • With the support of the Flemish government
  • Contact mediation system for buyers and sellers
    in Flanders practical information and useful
    contacts/links on business transfer

22
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23
Professional advice
  • ING study positive correlation between the
    assistance of advisors and being top of the class
  • Flemish support measure adviescheques
    cheques to pay for advice, for 50 paid by the
    Flemish government
  • www.vlaanderen.be/adviescheques
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