The unprecedented situation of the Covid-19 crisis has forced family business leaders and the rising generation to adapt and face a new reality. In this extraordinary context, how can entrepreneurs calmly consider passing on their family business? Anne Goedert, Family Practice Adviser provides some answers.
An accelerator for change
"When the health crisis hit, we felt it was important to hear how the Next Gen were feeling. So in July 2020, we launched a study among around thirty young people aged 20 to 30 with various profiles. All said the pressure was enormous and they felt real angst given the lack of visibility. The study also revealed a new dynamic that quickly emerged to address the situation," explains Anne Goedert. For some businesses, the crisis has even accelerated the transfer to the next generation, which has seized this opportunity to establish its legitimacy and make its own contribution to the entrepreneurial adventure.
The right time to hand over
In the life of an entrepreneur, the transfer of the business is an important stage for the person who has built it up and is ready to transfer it, but also for the person who wants to take it over. For 100 years, we have been supporting our clients in their entrepreneurial and private projects. We have recognised expertise in business transfers. We firmly believe that passing on a family business requires the collective support of the current and rising generations. We have developed programmes to support the younger generations in their decision on whether or not to join the company. Our approach aims to ensure the continuity of the business and the preservation of family harmony.
Listen to Anne Goedert, Family Practice Adviser, on RTL radio.
