Particularly for the group of approximately 2 million family businesses in Germany, the succession process and transfer represents a big, often survival-threatening problem. The burden for the company's owner by an unresolved but latently existing unresolved succession issue is ultimately much greater than a reasonable transferal process planned for a 3-5 year period of time.
Experience and many investigations speak against a postponement which is too long and exposes many of the customary arguments as pure displacement mechanisms (having no time in the operative business, one's own irreplaceability, already the preoccupation with this topic is supposed to mean the loss of authority and control, etc.).
According to estimates, annually approximately 50,000 jobs in the economy are lost due to Succession Processes which are not planned or not planned in a timely manner. If the delay tactic does not lead to a total loss of the company, the company may nevertheless be damaged by the unsatisfactory succession process.
If successors are not introduced to responsibility in a timely manner and it is transferred to them too late, then this will often delay the introduction of new management methods and new technologies. The market position will worsen more and more. Investments will not be undertaken in time and will then be undertaken in a hasty manner by the successor.
Transfer planning as an entrepreneurial task
A wise entrepreneur does not allow this to go so far. Whoever has built a successful and profitable company will also dedicate himself in time to the urgent task of his own succession because he knows that this is unavoidable.
As a forward-thinking business owner, he already designed in time the further development of his lifework - solely because then he and not fate or haste will pave the decisive way. (See Publications: Unternehmensnachfolge in Mittelständischen Unternehmen / Company succession in SMEs.)