Thinking about the future of your business also means thinking about your successor. Aimed at managers of SMEs and ETIs, the French Institute of Administrators (IFA) recently published a “good practice” guide for the transfer of your company.
Transport is an unavoidable issue for the French economy: 25% of business leaders are already over 60 years old and no less than 700,000 companies will be sold in the next ten years, according to a Senate report. Without forgetting that family businesses, particularly concerned about the issue, represent 83% of French companies. However, the IFA argues, a business transfer process can take five to 10 years to materialize.
With one slogan: anticipation. “Either there is a transition that has been prepared, or is being experienced,” said Denis Terrien. “Unfortunately, in France, only 10% of the companies are sold in the family”, compared to 50% in Germany or 70% in Italy, laments the president of the IFA, who evokes the lack of support.
“It is quite difficult to put aside the ego”, but you have to “anticipate” and “be accompanied” in the transmission, advised Denis Terrien, for whom “there are many decisions in which the emotional must be put aside”. .
In addition, “you have to take your time”, added the president of the IFA. “When the manager is old enough, he is fed up, he has an illness,” the company “sells off very quickly” and France “risks losing very important assets.”
Source: BFM TV
