BusinessTransferProgrammeYourWaytoSuccess

BusinessSuccessioninEurope

Busine

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Success

ThisprojecthasbeenfundedwithsupportfromtheEuropean

Commission.Thispublicationreflectstheviewsonlyoftheauthor,

andtheCommissioncannotbeheldresponsibleforanyusewhich

maybemadeoftheinformationcontainedtherein.

AndreaLangbitmanagementBeratungGmbH,Graz

ThomasSchmalzerFHJOANNEUMGesellscha2mbH,Graz

RupertBeinhauerFHJOANNEUMGesellscha2mbH,Graz

JacoboRamirezCopenhagenBusinessSchool(CBS),Copenhagen

AndreaLangThomasSchmalzerRupertBeinhauerJacoboRamirez

AndreaLang,bitmanagementBeratungGmbHThomasWychodil,bitmanagementBeratungGmbHThomasSchmalzer,FHJOANNEUMGesellscha2mbHRupertBeinhauer,FHJOANNEUMGesellscha2mbHBernadeCeFrech,FHJOANNEUMGesellscha2mbHReneWenzel,FHJOANNEUMGesellscha2mbHAntjeUtecht,BerufsfortbildungswerkdesDGB(CompetenceCenterEUROPE)ToniBrunello,StudioCentroVenetoLaraScantamburlo,StudioCentroVenetoPaoloZaramella,StudioCentroVenetoMihaiSvasta,SVASTAConsult,AuraBadea,SVASTAConsultKamileCanbay,CRMConsulHngGulsahOguzYigitbasi,CRMConsulHngJacoboRamirez,CopenhagenBusinessSchool(CBS)VernerWorm,CopenhagenBusinessSchool(CBS)RaúldeArribaBueno.ESICMarkeHngandBusinessSchool

*Graphicdesign,TypesePng:ChrisHanKendlbacherOctober2008,Graz,Austria*Publisher,1stEdiHon,168pages*Published:FHJOANNEUMGmbH,Graz,Austria*Printed:MAILBOXESETC.,Reitschulgasse27,A‐8010GrazISBN3‐902103‐17‐5

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Acknowledgments 8

TheBTPConsorHum 10

IntroducHon 17

BusinessTransferinEurope 20

CountryReports 31

TheSituaHoninAustria 31

TheSituaHoninGermany 36

TheSituaHoninItaly(VenetoRegion) 42

TheSituaHoninSpain(ValenciaRegion) 47

TheSituaHoninDenmark 51

TheSituaHoninRomania 55

TheSituaHoninTurkey 60

Round‐upoftheSituaHon 63

TheBTPProject 64

ProjectDescripHon 64

GeneralObjecHves 64

TargetGroups 67

BTPDidacHcalConcept 68

Overview 69

OrientaHonPhase 70

GroupTrainings 70

IndividualSuccessionPlan 72

E–content 72

PilotTrainings 73

PilotTraining–Austria 73

PilotTraining–Italy 81

TheSurvey 87

FeedbackandAdaptaHonoftheCurriculum 94

TheScreeningTool 99

SyllabioftheBTPModules 105

Finance 106

LegalAspects 110

BusinessAnalysis 114

MarkeHng 118

So2Skills 121

HumanResourceManagement 127

ConcludingRemarksandOutlook 132

Annexes 135

AnnexIStaHsHcalData 135

AnnexIITrainingProgrammesforBusinessTransferandStart‐upEnterprises. 151

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A2ermonthsofhardwork,weareproudtopresentthisbookaboutBusinessTransfer.OurspecialthanksgototheenHreprojectteammembers.ThekeyacHviHeswithinthisprojectweretheresearchonbusinesstransferinEurope,developmentandtestofacurriculumandthecorrespondingcontents.ThegoalhasbeentoprovidesupportforBusinessTransfer.OurteamaimedatcreaHngastronginternaHonalcommunity inthisfieldthroughnetworkingandinternaHonalmeeHngs.Thisbookcompilesallresultsdevelopedthroughouttheprojectperiod andoffers the final version of theBusiness Transfer curriculum. The collaboraHveeffortwasmade possible only by the excepHonal and thorough teamwork of all partnerinsHtuHons andmembersof theproject teamaswell as external trainers andexperts inthe field of business transfer. Funded by the European Commissionwithin the Leonardoda Vinci Programmeof the EuropeanUnion, the project aimed at developing innovaHvelearning concepts for the integrated Europeanmarket of 25member states, all ofwhichfacechanges in theownershipofahuge fracHonofbusinesseswithin thenext10years.Acknowledgementsgotoallpeoplewhocontributedtothesuccessoftheprojectaswellastoallauthorswhoworkedtogethertocompilethiseditedvolume.Aboveall,thepartnerinsHtuHonsinvolvedintheprojectarethankedfortheirinsHtuHonalandfinancialsupportgiventotheLeonardodaVinciproject:

The editors also wish to express their sincere graHtude to all people who made thispublicaHonpossibleandprovidedinputatvariouslevels.TheeditorialteamwishestothanktheEuropeanCommissionrepresentedbytheLeonardodaVinciNaHonalAgencyinAustria

bitmanagementBeratungGmbHFHJOANNEUMWirtscha2skammerSteiermark,FachgruppefürUnternehmensberatungundInformaHonstechnologieBerufsfortbildungswerk(bfw)desDGB(CompetenceCenterEUROPE)

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StudioCentroVenetoSvastaBusinessConsulHngCRMConsulHngCBSCopenhagenBusinessSchoolESICBusiness&MarkeHngSchool

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for thegenerousfundinggrantedtotheconsorHumfortheexecuHonof theBTPproject.SpecialthanksgotoMr.BerndCastellaz,whofollowedthroughtheprojectandsupportedtheteamonbehalfoftheEC.AcknowledgementsalsogototheprojectteamandthetrainersoftheBTPpilottraining:

TheprojectwouldneverhavebeenconcludedsuccessfullywithouttheHrelessworkofMag.AndreaLang,whomanagedtheprojectanditsfinancialaspects.

ThomasWychodil(bitmanagement)AndreaLang(bitmanagement)ManuelaOrtner‐Arch(bitmanagement)GerhardApfelthaler(FHJOANNEUM)RupertBeinhauer(FHJOANNEUM)ThomasSchmalzer(FHJOANNEUM)BernadeCeFrech(FHJOANNEUM)ReneWenzel(FHJOANNEUM)WernerLämmerer(WKO/UBIT)HeinzMichalitsch(WKO/UBIT)AntjeUtecht(bfw)To‐NgaTruong(bfw)ToniBrunello(StudioCentroVeneto)PaoloZaramella(StudioCentroVeneto)LaraScantamburlo(StudioCentroVeneto)MihaiSvasta(Svasta)AuraBadea(Svasta)KamileCanbay(CRM)GülsahOguzYiğitbaşı(CRM)JacoboRamirez(CBS)VernerWorm(CBS)RaúldeArriba(ESIC)

JoachimJanezicWolfgangEgiGregorReautschnigMichaelaJentlManuelaMätzenerPetraPulstHeinzMichalitschBirgitMayer

FerruccioDalLinAlinIvanMarcoEvangelisHLuisaBarausseElenaPadovanMarcoZanonRobertoMunareCoGiampieroGaneo

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NineinternaHonalinsHtuHonsfromsevenEuropeancountrieshaveformedaninternaHonalprojectconsorHumwiththepurposeofworkingtogetheronthetopicofbusinesssuccessionforaperiodoftwoyears.Theprojectcalled“BusinessTransferProgramme(BTP)”wasco‐funded by the European Commission under the Leonardo da Vinci programme. Withinthe framework of this project, Austrian,German, Italian, Romanian, Turkish,Danish, andSpanishpartnerscontributedtothedevelopmentoftrainingandascreeningtooltofacilitatebusinesssuccessionandtransferinEurope.ExperHseandexperiencefromthefieldsofhighereducaHon,e‐learning,vocaHonaltraining,andmanagementconsultancywereintegratedintheinternaHonaldevelopmentprocess.ThemixbetweenconsulHngcompanies,universiHes,businessschools,e‐learningexperts,andenduserscombinedpracHcalexperiencewithascienHficapproach.EachprojectconsorHummembercontributedsignificantlytothesuccessoftheprojectandtheproductsdevelopedtherein.The BTP consorHum consists of the insHtuHons led by bitmanagement BeratungGmbH,Graz,Austria,whichpresentthemselvesbelow:

bit management Beratung GmbH is part of the bit group, the largest private trainingproviderinAustria,andofferstrainingsandconsultancyinvariousareas,suchaspersonality,leadership,team,sale,projectmanagement,logisHcs,andbusinesseconomies.Weadviseandsupportenterprises,publicorganizaHonsandindividualstoextendtheirknow‐howandtheirkeyqualificaHonsforastrengthenedmarketsituaHon.Weaccompanyourcustomersindividually fromtheanalysisofneedsoverpuPngtheresulHngplan intoacHon in theircompanytofinalevaluaHon.With individualcoachingandspecial trainings in theareaoffinances, law, taxes, and so2 skills,we accompany people from the business idea to thefoundaHon.

Every year we accompany over 500 enterprises, non‐profit organizaHons, and trainingparHcipants aswell as about 6000 start‐ups at our locaHons inAustria.Weoffer flexiblesoluHonsorientedtotheneedsofthecustomersandobservethehigheststandardsofquality.OurhighlycompetentandcommiCedemployeesthinkandactontheirownresponsibilitywiththeneedsofbusinessinmind.OurinnovaHveproductsmakethelasHngacquisiHonofknowledgeandtraininganenjoyableandenrichingexperience.

The FH JOANNEUM is one of Austria‘s leading UniversiHes of Applied Sciences. In ordertomaintain and consolidate this status, both our teaching andour applied research anddevelopment is modelled on the best colleges and universiHes in Europe. Our R&DacHviHeshelp to accumulate a knowledgebase for theuniversity and society in general,whichimprovesnotonlyourowncompeHHveabiliHes,butalsothoseofStyriaasawhole.AddiHonally,theknow‐howweacquirefromR&DprojectshelpstoensurethehightuiHonqualityinourdegreeprogrammes.AsauniversitywesupportinternaHonalcooperaHoninteaching,research,andongoingeducaHon.

TheFHJOANNEUMisanacknowledged,innovaHvepartnerforbusinessesandinsHtuHonsinthefieldsofteachingandofresearchanddevelopment.InaddiHontheFHJOANNEUMoffersregularongoingeducaHoneventsinwhichtheuniversity‘sknow‐howismadeavailabletoallwhowishtoparHcipate.

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TheWirtscha2skammerSteiermarkispartoftheEconomicChamberinStyriaandtheinterestrepresentaHonforselfemployedmanagementconsultantsand informaHontechnologists.WeofferconsultaHon invariousareas, suchas law, represent theassociaHon interests innaHonalandinternaHonalassociaHons,offerpublicrelaHons,andsupportfurthereducaHonforthesegroups.AmongotherthingsinthecontextofthisprofessionalassociaHon,wehaveinstalledanumberofexpertgroupsforspecialtopicswhichincludesoneexpertgroupforbusinesssuccession.

The Berufsfortbildungswerk des DGB is one of Germany‘s major vocaHonal traininginsHtuHons and comprises 36branches naHon‐wide represented in all the federal states,300vocaHonaltrainingcentres,approximatelyand70,000parHcipantsperyear.Sincebfw‘sfoundaHonin1953,2.5millionparHcipantshaveenrolled.Astaffofaround2,000employees,including vocaHonal trainers, teachers, social teachers, structural and qualifying advisers,andadministrators,workforusandoursubsidiaries.

WeandourvocaHonaltrainingcentresarefirmlyestablishedintheregions.RegionallabourmarketsaswellaspresentandfuturerequirementsoftheenterprisesarebeingconHnuouslyanalysed,thusprovidingthebasisfortrainingschemestailor‐madeforbothtargetgroups

and enterprises. Themajor business fields are vocaHonal training, organisaHon and staffdevelopmentadviceinconnecHonwithtrainingschemes,combinedemploymentmeasuresandtrainingschemes,andiniHalvocaHonaltraining.

Our schemes are aimed at the following target groups: employees intending to undergofurther educaHon, employees threatened by unemployment, the unemployed andmen/womenreturningtowork,youngpeople,soldiers,prisonersaswellasenterprises,publicadministraHonsandotherinsHtuHons,andworkscouncils.FurthermoretheFederalLabourOffice,enterprises,administraHons,workscouncillors,staffcouncils,EuropeanCommission,ministriesandprivatepeopleareamongourclients.

We are involved inmany European projects in all its business fields. This enables us toconHnuouslytestanddevelopnewapproachestovocaHonaltrainingandtointegratetheminourtrainingscope.

To coordinate all European acHviHes of the bfw‐group, the Competence Center EUROPE(CCE)hasbeencreatedin2004tomakesurethattheoutcomesoftheinnovaHveEU‐fundedprojectsareimplementedinanappropriatewayintoallbusinessfieldsofbfw.

StudioCENTROVenetoisaprivateconsulHngcompanyandhasstarteditsacHviHesinVicenzain 1968. It is specialised in research, training and consulHng, parHcularly focusingon thetransferofbusinessesfromonegeneraHontothenextortoathirdparty.Themain“BusinessTransfer”acHviHesare the increaseofawareness, surveys, trainers training, junior/seniortraining,systemacHons,andprivateconsulHng.In1997aspecialhandbookonthissubjectwaswriCenand translated intofive languages. This tool is knownas kit.brunello (hCp://www.kit.brunello.net)/andhasalsobeenofficiallyacknowledgedasabestpracHcebythe

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EuropeanUnion.TheSCVhasalotofexperienceinthefieldofbusinesstransfer,SMEsandinternaHonalprojectsandworksatEuropean,naHonal,regionalandlocal levelsinsystemacHonsthatjoinpublicandprivatebodies.

SVASTAConsultisanindependentRomanianManagementConsulHngcompany,establishedin1993.OurheadquarterisinBucharestandwehave3branchesinTransylvania:Bistrita,OradeasiBaia‐Mare.Atpresent16consultantsand6supportstaffareworkingforSVASTA.

Weare a cerHfiedmemberofRomanianAssociaHonofManagementConsultantsAMCOR,affiliatedattheEuropeanFederaHonofManagementConsultantsAssociaHon–FEACO.

SVASTAhas3businesslines:publicsectorconsulHng,privatesectorconsulHngandtraining.In the public sector, SVASTA has good competence and references in the field of publicadministraHon reform, public procurement, training for public administraHon, structuralinstrumentsandproject cyclemanagement, regionaldevelopmentandSMEs,environmentprotecHon.Intheprivatesector,SVASTAhasimplementedorganisaHonaldevelopmentandM&AprojectsformediumsizeRomaniancompanies.InaddiHon,SVASTAhasassistedchangemanagementprojectsformulHnaHonalcompanies,inpartnershipwithleadinginternaHonalconsultantsandhasperformedawidevarietyofstudiesforGermanorScandinavianclientsthatapproachedRomanianmarket.

Inthetrainingsector,SVASTAisofferingtrainingforpublicauthoriHesandforprivatemarket.In the last 5 years, SVASTA hadmore than 2300 trainees from the public authoriHes andmorethan400fromtheprivatebusiness.ThepublicsectortrainingproductsaredesignedbySVASTA,whileintheprivatesectorSVASTAisusinganAustriantraininglicenceforitstrainingproducts.

CRMConsulHngofferstraining,appliedconsultancyservicesforprivatecompanies,publicandlocalinsHtuHons,makesmarketresearchesanddealswithEUprojectsandtenders.Ourbusinesslinesaretraining,strategicplanning,restructuring,qualitymanagementsystemsbothinpublicandprivatsectors,andmarketdevelopmentconsultancyinprivatesectorforthebenefitofbothSMEsandbigsales‐networkingcompanies.

Ourtrainingprogramscovermorethan24subjectsincludingvocaHonaltrainingandhumanresurces development trainings.We work together with full Hme consultants, part Hmetrainersanddisposeofaconsultantpool.

Wepromotea strong survey reporHngacHviHesand cooperate closelywith thebusinesscommunityatthelocal,regionalandnaHonallevelfortheinformaHonexchangesbetweenthesectoralinsHtuHons.

CopenhagenBusinessSchool(CBS)isDenmark‘smostinternaHonallyorientedinsHtuHonofhighereducaHonaswellastheoneuniversityinDenmarkofferingthemostcomprehensiverangeofuniversityleveldegreesinbusinesseconomicsandmodernlanguages.WeregardourselvesasaEuropeanuniversityandstrivetobeamongthetopbusinessschoolsinEurope.OurresearchandteachingisstructuredinlinewithinternaHonalstandards,andwemeasureourlevelofqualityincomparisonwiththetopforeignuniversiHes.

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The co‐operaHonwith Danish and foreign business communiHes is a cornerstone in ourstrategy.Wedevelop studyprogrammes thatmeet theneedsofbusinessexecuHvesandemployees for lifelong learning. We also parHcipate in applicaHon‐oriented researchcollaboraHonsinconnecHonwithourinternaHonally‐orientedbasicresearch.Thisincludesjoint research projects, the CBS Partnership Program and the increasing number of newbusiness research centres that perform research in collaboraHon with enterprises andorganisaHons.

WepromoteastronginternaHonalplaxormintheformofinternaHonalpublicaHon,leadershipofacademicnetworks,editorial acHviHes, conferencehosHng,andPhDcollaboraHonandcooperatecloselywiththebusinesscommunityatthelocal,regional,andnaHonallevelsforthe‘translaHon’ofCBS’researchintopracHce.

ESICwasfoundedin1965andistheleadingprivatemarkeHngschoolinSpain.ThroughourwiderangeofareasandacHviHes,wesaHsfythecurrentneedsofcompaniesandtheircompeHHveenvironmentbymeansofprovidingthenecessarytrainingtoenablebusiness professionals to analyse situaHons, undertake decision‐taking tasks, and to actresponsiblyatallcorporatelevels.In our internaHonal dimension,wehold academic agreementswith themost presHgiouscompanies anduniversiHes all over theworld. TheeducaHonal and trainingprogrammesofferedinitsdifferentbusinessdisciplinesaretypicalofthemostpresHgiousinternaHonalbusinessschools.ProgrammesandcourseworkarebasedonabroadeconomicandbusinessfoundaHonwithspecialisaHon inmarkeHngandmanagement.Furthermore,oneofourmainobjecHves isto saHsfy company needs for qualified personnel bymeans of offering a comprehensivecandidatesearch,pre‐selecHonandrecruitmentservicetofilltheposiHonadequately.

Micro,smallandmediumcompaniesarethebackboneoftheEUeconomyandarethemostimportant providers of jobs in a globally changing landscape characterised by conHnuousstructural changes and increasing compeHHon. StaHsHcally there are 23 million small andmedium‐sizedenterprisesintheEuropeanUnionrepresenHng99.8%ofallEUenterprisesandemployingmorethan74millionpeople.Theseenterprisesarethemainsourceofemployment,innovaHon,entrepreneurship,andgrowth,and,duetotheir importantsocialandeconomicrole,SMEsbenefitfromspecifictreatmentwithintheEuropeanUnion,suchasnaHonalstate‐aid schemes and community programmes. The “Lisbon Growth and Employment Strategy(2005)”haditsmainfocusontheneedsofSMEsandemphasisedthe“TransferofBusinesses–ConHnuitythroughanewbeginning”andinvitedthememberstatestoimplementthisstrategyintheirowncountries,forexampleimprovementofframeworkcondiHonsforbusinesstransferto ensuremore transfer‐friendly tax systems, provide convenient financial condiHons, raiseawarenessofaHmelypreparaHon,andprovideabasis forbusinesstransfermarkets.Since2005theroleoftheSMEsforgrowthandinnovaHonhasbeenhighlightedevenfurtherwithintheEuropeanUnionthroughnewpapers,publicaHons,andguidelines,andboththememberstatesandtheEUaresHllworkingonthecreaHonofanSME‐friendlierbusinessenvironment.

Almost 1/3 of the abovemenHoned SMEs, approximately 690,000with about 28millionemployees(EuropeanCommission,2008)willbefacedwiththesuccession/transferprocesswithin thenext10years.On theEuropean level,exisHng training‐offersandconsultancy‐servicesprimarilyaddressbusinessstart‐ups,althoughtherearecleardifferencesbetweena business start‐up and a business take‐over, both in the scope of training and in theprocess‐oriented and supporHve coaching. Handing/taking‐over a company requiresspecificknowledge,e.g. lawofsuccession,company law,contractualobligaHons,financialrecapitalisaHon and modernisaHon measures, or analyses of the company, handling thechangingrolefromanemployeetobusinessowner,andismuchmorecomplexcomparedwiththefoundingofanewcompany.Furthermore,fromtheeconomicpointofview,inmanycasesitismuchmoreprofitabletostartwithanexisHngcompanybecausethesurvivabilityofanexisHngbusinessishighercomparedwithanewlyfoundedcompany(a2er5years,96%ofexisHngcompaniesversus75%ofstart‐upsaresHllonthemarket).

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The lack of succession/transfer regulaHonmeasures, such as in‐Hme planning, adequatepreparaHon phase, and tailor‐made trainings for successors/transferors, have led tothousandsofenterprisesandwithithundredsofthousandsofjobsdisappearingfromthemarketeachyear.Theawarenessforthenecessityoflong‐termandstrategicplanningofthebusinesssuccessionaswellasmeasuresfortheassuranceandsimplificaHonofthebusinesssuccessionsHllneedtobe intensifiedattheEuropean level.Taking intoaccountall thesefactsprovidedtheiniHalmoHvaHonfortheproject“BusinessTransferProgramme(BTP)”.This projectmade a contribuHon in raising awareness on the importance ofmaintainingtheseenterprisesinthepartnercountriesfromthebusinessandeconomicpointofviewandofkeepinganeyeontheconHnuousalteraHonofgeneraHonsinEurope.ThemaingoalsoftheprojectwerethedevelopmentofconsistentsupportmeasuresforexisHngSMEscloseto the transferprocess, facilitaHnganupcoming transferprocess through increasing theirownbusinesstransferrelatedknowledge,andintensifyingtheirpreparaHonphasethroughatechnicalinstrument/tool.

This publicaHon describes in detail the raHonale, format, and content of the “BusinessTransfer Programme”. A tailor‐made training programme in combinaHon with a specificScreeningTool forbusinesssuccessorsandtransferorshasbeendesignedandtestedandis available on the Europeanmarket. AmoHvated and experienced teamof training andconsulHngcompaniesandresearchersfromsevenEuropeancountries,namelyAustria,Italy,Germany,Romania,Turkey,Denmark,andSpain,havebeenworkingtogetheronthisproject,whichwasgenerouslyfundedbytheLeonardodaVinciprogrammeoftheEuropeanUnion.TheresultsoftheprojectareverypromisingandcontributetotheimprovementoftheskillsofbusinesssuccessorsandtransferorstohandlethedifficulHesinvolvedinthetransferofownershipandalsoprovideanaddiHonaltoolforsuccessors/transferorsandmanagementconsultantstocarryoutafirstenterprisecheck.Inthisrespecttheprojectcontributestothesurvivalofsmallandmediumsizedbusinesses,whichareimportanttostrengthentheSMEdominatedEuropeaneconomy.

European Commission, Enterprise Directorate‐General, Unit E.1. Entrepreneurship.Retrieved 02/09/2008 from hCp://ec.europa.eu/enterprise/entrepreneurship/support_measures/transfer_business/trans_com.htm

PuPngSmallBusinessFirst.EuropeisgoodforSMEs,SMEsaregoodforEurope.2008ediHon. Retrieved 22/08/2008 from hCp://ec.europa.eu/enterprise/entrepreneurship/docs/sme_pack_eng_2008.pdf.

Märkte für Unternehmensübertragungen. Förderung transparenter Marktplätze fürUnternehmensübertragungeninEuropa.BerichtderSachverständigengruppe.Retrieved02/09/2008 fromhCp://ec.europa.eu/enterprise/entrepreneurship/support_measures/transfer_business/docs/transfer_markets_de.pdf

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Business transfer is of major concern in the European Union today. One third of allbusinesses are to be transferred within the next ten years. This accounts for 690,000companies.OutofthisquanHty,afracHonof43%employsoneormorepersons.Allinallnearly3millionjobsareaffected,intheEuropeanUnion.ThefracHonoffuturebusinesstransfersvariesfrommemberstatetomemberstate.Forinstance,inFinlandandItaly,40%ofallbusinessesareaffected.InAustriaabout28%ofallbusinesseswillbetransferredinthenextdecade(EuropeanCommission,2003).

ThefracHonofbusinesstransferstothirdparHes,i.e.formeremployeesandpeopleoutsidethebusiness,isincreasing.Forbusinessownerswhodonothaveatransfereewithinthefamily orwithin the company it becomesmore andmore difficult to find an adequatesuccessor. Two thirds of all adverHsements regarding business transfer are placed bytransferorsandonlyonethirdisplacedbytransferees.Hence,businesstransferisofmajorconcernintheEuropeanUnion,butmeasuresareo2enlimitedtoaregionallevel.

Trends in business transfer suggest that entrepreneurs will more o2en transfer theirenterprise before reHrement due to private reasons. As a consequence an increasingnumberofentrepreneurswillstay inthebusinessforashorterperiodthan inthepast,wheretheyworkedinthesameenterprisefortheirenHrelifeHme.

Duetothesechangesinthestructureofbusinesstransfer,theEuropeanUnionproposed21recommendaHonsforthememberstatestoimplement.ThemeasuresaffectthefieldsoflawandtaxaHon.Intheyear2002,anexpertgroupfoundoutthatonlyabouthalfofthemeasuresweretransposedintheEuropeanUnion.TheimplementaHonsofthemeasuresvaryfromtwoinGreeceto16intheNetherlands.Theyalsofoundoutthat,intwooffivekey areas in supporHng efforts for business transfers, advancementsmade bymemberstates were relaHvely good. 13member states have established special regulaHons oninheritanceandgi2taxes.TencountrieshaveincludedrulestosupporttransferstothirdparHes. The other three key areas – specificmeasures to alleviate transfers to former

employees,taxreliefonearlyreHrementandtaxreliefonmoneyreinvested inanotherSME–areimplementedinonlysevenoreightmembercountries(ibid.).

Businesstransferorsaswellastransfereesareo2ennotwell‐prepared.Inthisrespecttheexpertgroupdetectedfollowingweakpoints:

Especially owners ofmicro‐ and small enterprises require assistance and guidelineswhen searching for business transferees.More awareness and training is needed todemonstratethatthetransferofbusinessisagoodalternaHvetomaintaintheoperaHonoftheviablecompany.ThiscanbedonebyfindingandpromoHngsuccessstoriesinthefieldofbusinesstransfer(Eonmex,2005).

Onemajorproblemofsmallcompaniesisthatitishardforthemtofindsuccessorsduetoadifficulteconomicbackgroundofthecompany,e.g.alackofequityintheirbalancesheets,taxproblems,andtroubleswithsocialsecuritycontribuHons.Thiso2encausestheproblemsalsowithdefininganappropriatevalueofsuchcompany(ibid.).

SincebusinesstransferespeciallytothirdparHeswillbeofhighimportanceinthefuture,theexpertgroupmadethefollowingrecommendaHons,whichconcerntheprovisionofsupportmeasures.Theypropose:

thecreaHonofaEuropeanbusinesstransfercentre,avirtualEuropeanplaxorm,whereinformaHoncollecHngiscoordinated,bestpracHcesaresharedacrossEuropeandcrossbordercooperaHonissHmulated.OnanaHonallevel,similarinsHtuHonsshouldalsobeestablishediftheydonotexistalready;(EuropeanCommission,2003)

theestablishmentofanEuropeansellers’andbuyers’marketplaceinconnecHonwiththe business transfer centre, the up‐linking of exisHng naHonal databases and thefacilitaHonofcountrieswithoutsuchdatabasestosetthemup;(ibid.)

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the execuHonof regular conferences and other events on specific transfer issues atEuropeanleveltoexchangebestpracHceandtheusageofresultsoftheseeventsasinputforseminarsandmeeHngsatnaHonal,regional,andlocallevels;(ibid.)

thedevelopmentofalternaHveoraddiHonalcustom‐madeeducaHonandmanagementtools for present andpotenHal ownermanagedand small family‐ownedbusinesses;(ibid)

theimplementaHonofpubliclyiniHatedsupportprogrammesandresearchonbusinesstransfers;(ibid)

higheraCenHontobusinesstransfersinrelaHontootherissues.TransfersshouldgetasmuchaCenHonasstart‐upsintheEuropeanUnion.(ibid)

ThereareseveralEuropeanIniHaHvestosupportbusinesstransferintheEuropeanUnion.Someofthemfocusontheimprovementofthefinancialenvironment,whileothersaimatimprovementsinthetransparencyofmarketsforbusinesstransfer.

Several iniHaHves to improve the financial environment have recently been found in theEuropeanUnion.TheEuropeanCommissionitselfhasestablishedtwoprogrammestofosterthefinancialbackgroundforbusinesstransferees:

The CompeHHveness and InnovaHon Framework Programme encourages thecompeHHveness of SMEs by supporHng innovaHon acHviHes, providing beCer access tofinancing resources, and delivering business support services in the regions. Within theprojectaCenHonispaidtobusinesstransfersaswellastostart‐ups.(EuropeanCommission,2008)

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Joint European Resources for Micro to Medium Enterprises provides theframeworkforaseriesofcoherentfinancialacHonstoimprovethefinancialenvironmentforsmallSMEsatnaHonal,regional,andlocallevels.Itprovidesmemberstatesandregionswithacustom‐madesetoffinancialtools,formulatedtobeopHmallyappliedineachsePng.

Somememberstatesintroducedmeasuresonthefinancialbackgroundofbusiness transfers.BelgiumandLuxembourghave implemented interestreduced loansforbusinesstransferees.LuxembourgaddiHonallyoffersinterest‐freeloansforstart‐upsandtake‐overs.LoansforbusinesstransferareprovidedinFinlandandBelgium.LoanguaranteeswhichdecreasetheriskpremiumareavailableinAustria,France,andDenmark.Irelandhasintroducedtaxrelievesforinvestmentsincludinginvestmentsinbusinesstransfer.Subsidiesare granted by the Austrian Gründerservice. Severalmember countries have establishedconsultancyservicesanddatabasestoesHmatethevalueofthebusiness.

FoundingnewbusinessesisthecommonwaytobecomeanentrepreneurinEurope.54%ofallEuropeanswouldratherestablishanewbusiness,whileonly29%prefertotakeoveranexisHngbusiness.Thereare some reasons for that fact.Preferencesof transferorsaredifficulttomatchwiththoseoftransferees.FurthermoreaninformaHonasymmetryexistsbetweenbuyersandsellers.Thisholdstrueespeciallyforsmallerbusinesses.Thereforeitisdifficult toestablish trust in themarket forbusiness transfer.Measures to improve thetransparency of markets for business transfer, such as seminars for business transfersandexaminaHonsof goodpracHceexamples, canhelp toovercome thoseproblems.TheBESTproject for the transferofbusinessesmonitors the implementaHonsof theEC1994recommendaHonandidenHfiesnewlegal,tax,andsupportmeasures.TheECExpertgroupsuggested the foundaHonofmarketplaces forbusiness transfer.Somecountries, suchasBelgium,Germany,France, Italy,Luxembourg,Austria,theNetherlands,andFinland,havefoundedmarketplaces.Insomecasesthesemarketplacesarerunbypublicandsemi‐publicinsHtuHons,whileinothercountriestheyareoperatedprivately.

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Table1presentsexisHngmarketplacesforbusinesstransfersandimportantfacts,suchaswhocanuseitandwhetherthereisafeeorduraHonofadverHsement.AnalysesofexisHngmarketplacesforbusinessconductedbytheECexpertgroupdepictthefollowingresults:

On an insHtuHonal level, market places are one way to face the high number of futurebusinesstransfers.SomemembercountriesoftheEuropeanUnionhaverecentlyestablishedsuchmarketplaces,whileinothercountriesentrepreneursarele2totheirowndevicesinthisrespect.TheexpertgroupidenHfiedthefollowingstructuresofbusinesstransfermarketplacesintheEuropeanUnion:

O2enthereismorethanonemarketplaceoperatorinonecountry.Someofthemarepublicorsemi‐public insHtuHons,whilesomeothersareprivate,suchascommercialoperators,banks,andconsultancygroups.SomecountriesimplementedcoordinaHonat naHonal level, but in generalmarket places are not consolidated. Inmany cases,however,theyareoperatedregionally.(Eonmex,2005)

Marketplacesareo2entoosmalltofulfiltheirobjecHves.Specificallythebuyers’sideisunderdeveloped.InmanycasesarelaHvelyhighnumberoftransferorsareconfrontedwitharelaHvelysmallamountoftransferees.A“CriHcalmass”ofbuyersandsellersonthemarketplaceisneeded,butitisdifficulttoensure.(Eonmex,2005)

ThereisroomforimprovementontheinformaHonprovidedonthemarketplaces.TheinformaHon that can be gathered is someHmes limited (sector, turnover, someHmesprofit, and price), wrong, and in some sense irrelevant. Due to the fact that manysellershavenoideaabouttherealisHcvalueoftheircompanyandthepriceisusuallynegoHatedinalaterphaseofthetransferprocess,thisinformaHonisnotrelevantingeneral.Furthermore inmanycasestheprice isnotarealobstacleforabuyeroncethecompanysaHsfiesotherneedsofabuyer,e.g.establishedproducHon,networks,relaHonswithclients,goodreputaHon.(Eonmex,2005)

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Database Whocanconsult?

Whocanadver,se? Fees? Dura,onofadver,sements

Overnamemarkt Everybody Everybody.Ad.notplacedbyintermediariesarecheckedbyadminstrator

FeeswereintroducedinMay2007

Standard6months,prolongaHon(+3months)possible.

SOWACCESS Everybody Adsareplacesbyintermediariesordirectly(a2erainterviewwithSOWACCESS)

Flatfeeperyear.InaddiHon:successfeefordirectbuyers/sellersifmatchingwasmadethroughdatabase

Unlimitedbutreviewedeverytwomonths

Nexxt‐Change Everybody Adsareplacedbyintermediaries

Basicserviceisfree.FeesmightbechargedforaddiHonalservicesbyintermediaries

Dependsonagreementwithintermediary

Passerlerelais Everybody CCIstaffifbuyer/selleragrees.Networkpartners

Nofees;costsarecoveredbycompulsorymembershipfeeofchambers

Oneyear,butseller/buyercanaskforprolongaHon

BorsadelleImprese Everybody Astransferees:everybody,transferors’adshavetobecheckedbynetworkpartners

Nofeeformatching.Feesarechargedforadviceandcoaching.

2years

Boursed’enterprises

Everybody Adsareplacedbyhost No Unlimited

Ondernemingsbeurs Everybody Onlyintermediaries Ads49€,contact12.50€ 6months+prolongaHon

Nachfolgeboerse Everybody Everybody.AdverHsershavetorevealidenHtytohost.

No Unlimited

YriCajat Everybody MembersofFederaHonofFinnishEnterprises

60Euro+VAT 6months

Source:EuropeanCommission(2006)

26 27

Another objecHve of transfer market places besides matching sellers and buyers isto provide informaHon, such as contact details and offerings, about intermediaryinsHtuHonsthataremediaHngthenegoHaHonsandaboutotherstepstobetakenforthetransferofbusiness. Inasmall fracHonofcountries,addiHonalservices linkedtobusinesstransferareofferedonrequest.(Eonmex,2005)

InmembercountrieslikeAustria,Germany,andLuxembourgwheremarketplacesarerun by public or semi‐public business organisaHons, for example by the chamber ofcommerce.Whilethereisnofeeformatchingbuyersandsellers,anannualcontribuHonto that organisaHon has to be paid by all members. In some countries, i.e. theNetherlands,wherebusinesstransferisnotrunbypublicandsemi‐publicinsHtuHons,apayment is requested frombothsellersandbuyers toguarantee thesustainabilityofthemarketplace.ThefeesareingeneralquitelowandaredifferentforacHveandpassivesearching.AcHvesearcherspayforplacingtheirprofileintothedatabase,andthepassivesearcherspayforacontact.50Eurosarechargedforprofile,10Eurosforsearching intheNetherlands,andbetween20and40Euros inFinlandtosearchthedatabase.Thesemarketplacesare focussedon theprocessofmatching rather thanbusinesssuccession.(Eonmex,2005)

Themarketplaceoperators,whoareregardedasneutralpartnersbyusers,aremorelikelytobeseenasreliableserviceproviders.BusinessorganisaHonswitharelaHvelycharitableinterestandthosewithwell‐establishedcontactswithinthenaHonalbusinesscommunityarenormallygoodcandidatestoprovidetheseservices.(Eonmex,2005)

Insomecountriesit isdifficulttoestablishanadequateHmehorizonastowhenthecompanyshouldbeeliminatedfromthemarketplaceifthereisnointerestfrombuyers.Incontrasttothis,thereisaHmelimitinGermanytoupdatetheprofileofthecompanywhichotherwisemightbewithdrawn.(Eonmex,2005)

DiscreHonofinformaHononbusinessesthatarepotenHallytransferredisrequired,duetothefactthatinmanycasespossibletransferorscanbeeasilyidenHfiedbycompeHtors,especiallyinsmallcountries,butalsoinbigcountriesoncethematchingistakingplaceonlocalorregionallevel.(Eonmex,2005)

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GoodpracHceexamplesinthefieldsofinformaHonandtrainingandadvicecanbefoundinseveralcountries.ThefollowingsecHonoffersashortsummaryofinsHtuHonsandiniHaHvesthatarerolemodelsforfutureiniHaHves.

TheobjecHvesofgoodpracHceinthefieldofinformaHonforbusinesstransferarenotonlytoprovideknowledge,butalsotoraiseawarenessofthetopicandtheimportanceofbusinesstransfer.Itshouldalsoofferstep‐by‐stepguidesandoverviewsforbuyersandsellers.Thiscanbedonethroughone‐stop‐shopsoluHons,informaHonportals,mentoringconcepts,andsystemaHcinformaHonacHviHes.

Good pracHce examples of one‐stop‐shop soluHons can be found in Austria (Followme:www.wko.at/stmk/followme/)andGermany(IHK:www.erfurt.ihk.de).HerepotenHalsellersandbuyers canmeet experts, like lawyers, tax advisors, and consultants, gather relevantbasicinformaHon,getconsulHng,andreceivemediaHonmoderaHonatnegoHaHoninonelocaHonandononewebsiterespecHvely.

GoodpracHceexamples for informaHonportalscanbe found inGermany (next IniHaHve:www.nexxt.org) and in Switzerland (KMUnext: www.kmunext.ch). These internet portalsprovidetransferorsandtransfereeswithlinkstoallmajorinsHtuHonsinvolvedinbusinesstransfer, extensive selecHon of informaHonmaterial, like brochures and checklists, and adatabaseforsellersandbuyers,andannounceseminarsandacHviHesrelatedtobusinesstransfer.

Germany (alt hil2 jung: www.althi2jung.de) and Ireland (County Carlow, SuccessionPlanning: www.carlowchamber.com/whatwedo.aspx?id=295) have introduced mentoringconceptsthatconnectexperiencedentrepreneursorconsultantswithnewcomersandofferconsultancyservices.Suchmentoringprogrammesareeitherfreeofchargeorincludedintheconsultancystrategy.

28 29

SystemaHcInformaHonAcHviHesshouldtrytosystemaHcallycontactyoungentrepreneurs,raise awareness about opportuniHes and chances of business transfers, andoffer specialtrainingacHviHes.AgoodexampleforsuchaniniHaHveisFormaper(Italy;www.formaper.com/).

Thefieldoftrainingincludesseminars,workshops,andcourseswhereaknowledgebaseisbuiltandrequiredskillsforsuccessors.EducaHonalprogrammesareo2enincludedinMBAprogrammesofinsHtuHonsofhighereducaHoninEurope.UniversiHes,businessschools,liketheEOIBusinessschoolinSpainandchambersofcommerce,e.g.PlatoinIreland,o2enofferspecificcoursesforbusinesssuccessors.

TheselfanalysistoolallowsselfevaluaHonandiscustom‐tailoredforfamilybusinesstransfer.ThistoolgivespotenHalentrepreneursthepossibilitytouncoverstrongandweakpointsofthebusinessandshowshowwellpreparedtransferorsandtransfereesare.GoodpracHceexamplescanbefoundonwww.businesslink.gov.ukandwww.kit.brunello.net.

Consultancy services are offered by consultancy agencies, chambers of commerce, andcentresofemploymentoreconomicdevelopment.Normallyonehastopaya feefortheconsultaHonofsuchanagency.Consultancyservicesaimatdevelopingasuccessionplan.AgoodexampleofsuchacontactaddresscanbefoundonthewebpageoftheMinistryofTradeandIndustryinFinland(www.te‐keskus.fi).Discussionforumscanalsobequitehelpfulto receivegoodadvice.AgoodpracHceexample is thewebsiteof theAustrianChamberofCommerce(www.wko.at),whereonecanfindnotonlydiscussionforums,butalsolinksandcontactstoexperts,onlinemeeHngswithexperts,and, lastbutnot least,peergroupdiscussionsandinformaHonexchange.

Bundesarbeitsgemeinscha2Wirtscha2s‐Senioren. Alt hil2 jung. Retrieved 21.08.2008,fromhCp://www.althil2jung.de/.

Bundesministerium für Wirtscha2 und Technik (2008). Unternehmensnachfolge aufnexxt.org.Online:hCp://www.nexxt.org/.Retrieved19/08/2008

Business Link: Business support, informaHon and advice. Retrieved 04.08.2008, fromhttp://www.businesslink.gov.uk/bdotg/action/home?domain=www.businesslink.gov.uk&target=hCp://www.businesslink.gov.uk/.

CountyCarlowChamber(2008):SuccessionPlanning.Retrieved14.08.2008,fromhCp://www.carlowchamber.com/whatwedo.aspx?id=29.

Eonmex(2005):Report:FosteringUniformTransparentMarketPlacesfortheTransferofBusiness. Retrieved 02.09.2008, from hCp://www.eommex.gr/Hfloi/metabibasi_MME/market_places.doc

European Commission (2008): The CompeHHveness and InnovaHon Programme (CIP).Retrieved10.09.2008,fromhCp://ec.europa.eu/cip/index_en.htm

EuropeanCommission(2006).ReportoftheExpertGroup,MarketsforBusinessTransfers,Fostering transparentmarketplaces for the transfer of businesses in Europe. Brussels:EuropeanCommissionEnterpriseandIndustryDirectorateGeneral

EuropeanCommission(2003).Helpingthetransferofbusinesses—A‘goodpracHceguide’ofmeasuresforsupporHngthetransferofbusinessestonewownership.Luxembourg:OfficeforOfficialPublicaHonsoftheEuropeanCommuniHes

30 31

European InvestmentFund(2008): JEREMIE–RegionalFunding.Retrieved15.08.2008,fromhCp://www.eif.org/jeremie/.

Formaper (2007): Formaper: Azienda Speciale della Camera di Commercio diMilano.Retrieved11.08.2008,fromhCp://www.formaper.com/.

Industrie‐undHandelskammerErfurt(2008):IHKStarthilfe.Retrieved10.08.2008,fromhCp://www.erfurt.ihk.de/www/ihk/starthilfe/unternehmensnachfolg/index.htm.

kmuNEXT:KMUNext.Retrieved19.08.2008,fromhCp://www.kmunext.ch/.

StudioCentroVeneto:DiPadrein…Meglio.Retrieved12.08.2008,fromhCp://www.kit.brunello.net/.

Te keskus: Työvoima‐ ja elinkeinokeskus. Retrieved 10.09.2008, from hCp://www.te‐keskus.fi/public/Default.aspx.

WKO (2008a): FollowMe: Betriebsnachfolge in der Steiermark. Retrieved 07.08.2008,fromhCp://ww.wko.at/stmk/followme/.

WKO(2008b):WKO–DasPortalderWirtscha2skammern.Retrieved20.08.2008, fromhCp://portal.wko.at/wk/startseite.wk.

The Federal Republic of Austria is located in the „Heart of Europe“, in the north of ItalyandSloveniaand in thesouthofGermany. Its capital isVienna.ThepopulaHonnumbersapproximately8.2millioninhabitantsonanareaof83,871km².

Austriahasbenefitedgreatly fromjoiningtheEU in1995andmorerecently fromtheEUenlargement in2004,whichbroughtAustria‘seasternneighbours intotheUnion. In2007theGDPwas at 271billion Euro,which amounts to 31959 in PPPper capita. The strongexport performancepushed theGDPgrowth to 3.1%per cent in 2007. 1.7%of theGDPisgainedbytheagriculturalsector,30.3%areproducedbytheindustrialsector,whiletheservicesectorisresponsiblefor68%oftheGDP.In2007,Austria‘sunemploymentratewasat4.3%accordingtoEUstandards,whichissHllcomparaHvelylowcomparedtoothermembercountriesoftheEuropeanUnion(CIA,2008).

BeforejoiningtheEuropeanUnion,theAustrianeconomicperformanceheavilydependedontheeconomicdevelopmentofGermany.A2ertheEUaccess in1995,thedependencyhasbeenreduced,andother tradepartnershavebeen found.Asasmallopeneconomy,AustriahasarelaHvelyhighexportorientaHon.Germany issHll themost importanttradepartnerofAustria(30%)followedbyItaly(9%),theUSA(6%)andSwitzerland(5%).AustriahasalsoenteredthemarketinmanyEasternEuropeancountries,suchasSlovenia,Romania,Bulgaria,theSlovakRepublic,Hungary,andtheCzechRepublic.Theprimaryexportgoodsaremachineryandequipment,motorvehiclesandparts,andpaperboards(CIA,2008).

32 33

Intheyear2007,therewere303,395companies,asofficialdatafromtheAustrianChamberofCommerce(WKO,2008)shows.In2007morethan99%ofallcompaniesareSMEs.50.3%donotemployanypersonnel.30.7%ofthecompanieshavefewerthan4employees,andafurther18.1%employedfewerthan100workers(ibid).30.1%ofallcompaniesweresmalltrades,whichisthelargestsector,followedbycommercewith25,1%andtourism(18,5%).The industrialsector isrankedattheboCom(2.1%),butwith19,8%ofallemployeestheindustrial sector is ranked third just behind small trades (25.9%) and commerce (21.2%).These data do not contain all companies because someentrepreneurs neednot registerat theAustrianChamberof Commerce.Data from theGlobal EntrepreneurshipMonitor1suggest that 8.39% of the populaHon between the ages of 18 and 64 are engaged inentrepreneurialacHvity(Apfelthaleretal.,2008),whichamountstoabout445,000people.In2007,6575businessesweretransferred.Abouttwothirdsofthesebusinesstransferstookplacebetweenfamilymembers.Thetransferintensitywasat1.79%in2007.Mostbusinesstransfersweredoneintourismwith34%ofalltransfersfollowedbysmalltrades(23%)andcommerce(20%)(WKO,2008).

Asmanybusinessesthatweretransferredcollapsea2ersuccession,guidancefortransferorsaswellassuccessorscanhelptoovercomethisperiod.ImportantiniHaHvesandinsHtuHonsthatpromoteandsupportbusinesstransfersinAustriaarethefollowing:

bitisaninsHtuHonforadulteducaHonlocatedinGraz.Amongstothersin‐servicetraining,itoffersteachingforunemployed,trainingformanagers,ande‐learningprojects.Recentlybitfocussedonservicesforstart‐upandbusinesstransfers.

Within theBusinessTransferProgrammebitoffersa seminaronbusiness transfer.Targetgroupsaresuccessorsinsidethefamily,formerstaffmembers,andsuccessorsfromoutside.Withintheseminarthefollowingaspectsaretaught:

RegulatoryframeworkcondiHonsofbusinesstransferFinancingforbusinesssuccessorsBusinessanalysisforbusinesssuccessorsMarkeHngforbusinesssuccessorsSocialcompetenceforbusinesssuccessorsHumanresourcemanagementforbusinesssuccessors

FurtherinformaHononthisbusinesstransferseminarcanbefoundonthewebpageshCp://www.bitonline.ccandhCp://btp.�‐joanneum.at/.

TheChamberofCommerceofStyria incooperaHonwith theadministraHonsofGrazandStyria started an iniHaHve for business succession. This project is called Followme. Theprojectincludesfollowingaspects:

AcHveSuccessionmanagementDevelopmentofaregionalnetworkPublicrelaHonsInformaHon meeHngs for business transferor and business successors where legal,financialandfiscalaspectsaredealt.Coachingforbusinesssuccessors

TheFollow‐meprojectfocusesonbusinesstransfersthatdonottakeplacewithinthefamilyasthenumberoffamilytransfershasdecreased.MoreinformaHoncanbefoundonthewebpagehCp://portal.wko.at/wk/startseite_dst.wk?DstID=8314,wherealsoatransferexchangeislinked.

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1TheGlobalEntrepreneurshipMonitor isan internaHonal,representaHvesurveyofthepopulaHonbetweentheages of 18 and 64. At least 2000 peoplewere interviewed in every parHcipaHng country. In the year 2007, 42countriestookpart.

34 35

TheFederalMinistryofEconomicsandLabouroffersabrochure forbusiness transfer intourism,asmostbusinessesaretransferredintourism.ThisguideoffersinformaHononthetourismsectorandgiveslegalaswellasfinancialadviceandspecialhintsforthisbranch.TheguidecanbefoundonhCp://www.bmwa.gv.at/NR/rdonlyres/AF33D283‐DE4C‐4D4F‐A612‐C6D233E891D8/0/BetriebsnachfolgeimTourismus.pdf.

TheChamberofCommerceofAustriapresentscontactaddressesforconsultantsspecializedinbusinesstransfers.InformaHonontheseconsultantscanbefoundonhCp://portal.wko.at/wk/startseite_dst.wk?AngID=1&DstID=7271.

Theinternetportaldiegründer.atprovidesbroadinformaHononbusinesstransfersincludingrecommendaHonsonlegal,financial,organizaHonalandpracHcalaspects.InformaHoncanbegatheredonhCp://www.diegruender.at/betriebsnachfolge/allgemein1.php.

TheHernstein Ins,tuteoffersseminars forbusiness transfersat irregular intervals.Theseseminars focus on administraHve and legal facets for business successors. ThewebpagehCp://www.hernstein.at/Seminare/Ueberblick_‐_Auswahl/providesallrelevantinformaHononthesetrainings.

TheKMUForschungAustriasuppliesbackgroundinformaHonanddataonbusinesssuccessionandotherrelevantdata.ThehomepagehCp://www.kmuforschung.ac.at/primarilyprovidesdataonSME‐relatedtopics.

SincethefirstofAugust2008businesstransferisfreedfromtheinheritancetaxandgi2tax.IfthetotalvalueofthetransferredbusinessexceedsEUR50.000(betweenrelaHvesinoneyear)andEUR15.000(betweenallotherpersonswithin5years)respecHvely,onesimplyhastoannounceittothefiscalauthoriHes.Iflandisincludedwithinagratuitousbusinesstransfer,thetransfereehastopaytaxesonacquisiHonofrealestate.ThetransfereeisfreedfromthisformoftaxaHon,if

businesstransferisfullyorpartlyfreeofchargeandthetransferorisolderthan55yearsordisabledandatleastonefourthofthecompanyistransferred.

It is nowpossible that shares in private limited companies andpublic limited companiescanbe transcribed to thespouseand/or to theownchildren for free.So it ispossible toopHmizethefamilyincomebyareducHonoftheincometaxprogression,iftheincomeisdistributedtoseveralfamilymembers.Ifgi2sbeforetheAugust2008wereprovidedwithspecialrequirements(i.e.rightoflifeholdorrightofabode),thenthesecontractscannowbeadaptedinordertobefreedfromgi2tax.Inordertobereleasedfromgi2taxaHonthedonatorhastorenouncethegrantedright.

GratuitoustransferstriggerpartlybeCerandpartlyworselegalconsequences,especiallyinthefieldoftaxshelters.Thatwaythegratuitouslegalsuccessorhastotakethetaxburdenof undistributed profits. There are also substanHal differences regarding special businessassets.ForfurtherinformaHononthistopicaskyourtaxconsultant.

Apfelthaler,G.,Schmalzer,T.,Schneider;U.,&Wenzel,R.(2008).GlobalEntrepreneurshipMonitor Bericht 2007 zur Lage des Unernehmertums in Österreich. Graz: FHJOANNEUM.

CIA(2008).TheWorldFactbook–Austria.Retrieved02.08.2008fromhCps://www.cia.gov/library/publicaHons/the‐world‐factbook/geos/au.html.

WKO(2008).KammermitgliedernachRechtsformen.Retrieved01.08.2008fromhCp://wko.at/staHsHk/jahrbuch/mg‐rf.pdf.

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GermanyislocatedinCentralEurope,borderingtheBalHcSeaandtheNorthSea,betweentheNetherlandsandPoland,inthesouthofDenmark,inthenorthofAustria.ItscapitalisBerlin.ThepopulaHonnumbersapproximately82.4millioninhabitantsonanareaof349.223km².

Inthecomingyears,ageneraHonchangeispendingforseveralenterprisesinthesectorsofindustry,cra2,trade,services,andliberalprofessions.Morethan10%oftheheadsoffamily‐ownedenterprisesareover65yearsold.Theissueonbusinesstransferisnotrelevantforthevastmajorityofthelargescaleenterprises,since,inthissizegroup,itiso2enamaCerofjoint‐stockcompanieslistedonthestockexchange.

According to calculaHons of the InsHtut fürMiCelstandsforschung (IfM) (the insHtute ofresearch on medium‐sized enterprises) in Bonn, approximately 354,000 enterprises inGermanyhavebeendealingwiththeregulaHonsonbusinesstransferintheperiodbetween2005unHl2009‐312,000ofthemintheoldandaround42,000inthenewfederalstates.Theseenterprisesemployapproximately3.4millionpeople.

Inthecaseofabout71,000smallandmedium‐sizedenterprises,theissueofthebusinesstransferremainsunsolved,calculatedforaperiodofayear.Itisassumedthatanaverageof5,900enterpriseswillshutdownbecauseasuccessorcannotbefound.Thiscanbetranslatedintoanannuallossofabout33,500jobs.Allthesefiguresmakeobviousthattheissueonbusiness transfer is notonly relevant to individual enterprises, but can alsohave seriousimplicaHonsforthenaHonaleconomy.

In half of the family‐owned enterprises involved in a business transfer, the successor ismeanwhilebeingsoughtoutsidetheowner‘s family.Thereasonsforthegrowing interestinfindingthesoluHonoutsidethefamilyarethelackofapHtudeonthepartofthechildrenand their lacking interest. Yet, business transferwithin the family sHll ranks number onewithapercentageof43.8%.Thenumberofbusinesstransferstomanagersworkingfortheenterpriseisonthewholedecreasing–about10.2%.Thenumberoftransferstoexternalmanagershasslightlyincreasedandshowsapercentageof16.5%.AnincreasingsignificancemustbeaCachedtothisalternaHvewithgrowingenterprisesize.Approximately21%ofthefamily‐ownedenterprisesareexpectedtobesoldtoothercompanies.Thepercentageofshutdownsispredictedtobe8.3%.

AccordingtoanonlinesurveyoftheChamberofIndustryandCommerce(IHK),20%ofallenterprisesareplanningatransferofthebusinessownershiptothenextgeneraHonwithinthefamilybutwithasimultaneousmanagementtransfertoanexternalmanager.Thelargerthecompanyis,themoretheassignmentofanexternalmanagertothecompanymanagementis considered. While for every tenth enterprise with a maximum of 20 employees, theengagementofanexternalmanagerrepresentsanopHon,thisalternaHveisconsideredbyatleasteveryfi2henterprisewithmorethan20employees.

TherearetwoquesHonsthattheenterprisesaskthemselvesbeforeabusinesstransfer:Howcan I structure the transferprocessandhowcan Ifind theappropriatesuccessor?WhenthenextgeneraHoninafamily‐ownedenterprisedoesnotwanttoconHnuethecompanyordoesnotpossessthecorrespondingentrepreneurialandmanagementqualificaHons,thesearchforthesuitablesuccessorwilltakeplaceoutsidethefamily.TheIHK–initsroleofoneofthemostimportantcounsellingprovidersforsmallandmedium‐sizedenterprisesonmaCersconcerningbusinesstransfer–hasfoundthefollowingdifficulHeswhenregulaHngthetransfer:Thefrequentobstacleisanon‐Hmelypreparedtransfer(50%).AccordingtotheIHK,asuccessfultransfertakesatleastthreeyears.In39%ofthecases,thepurchasingpriceistoohigh,36%ofthemanagerscannotgiveuptheirposiHons,34%donothaveasuitablesuccessor, 30% cling strongly to their enterprises because they only have an insufficientpensionplan,and19%ofthemanagersfearaveryhighinheritancetaxburdenforthenextgeneraHon.

38 39

Yet,thetransferofanenterpriseasaspecialwaytoself‐employmentisconsideredbyonly14%ofthemalebusinessfoundersinGermany.Inthecaseofwomen,thepercentageisevenlower.PotenHalcompanytransfereesseethemselvesconfrontedwiththefollowingobstacles:Morethanhalfofthecandidates(55%)havefinancialdifficulHes,38%haveunderesHmatedthedemands,33%donotfindasuitablecompany,and22%fearaveryhighinheritancetaxburden.Afurther22%donothaveanadequatequalificaHon.Thenewmanagermusthavecommercialandentrepreneurialexperienceaswellasaprofoundknowledgeofthetradewhendealingwithlongstandingstructuresofcustomers,suppliers,andemployees.

ConsideringthesedifficulHes,theIHKtalksaboutadeep‐seatedmatchingproblemthathastobefacedwithcounsellingandmediaHonoffers.

Whentransferringanenterprise,bothcontracHngparHes–thevendorandthepurchaser–havetheirindividualviewoftheenterprise.Theinter‐personalissueplaysaverysignificantroletogetherwiththeeconomic,financial,andlegalaspects.Howcanthe“right”companysuccessororthe“right”enterprisebefound?Howcantheknow‐howofthecompanyholderbetransferredtothesuccessor?

AccordingtostaHsHcalprojecHonsoftheIfMinBonn,between4,000and5,000enterprisesper year prepare or accomplish their business transfer with the support of professionalconsultants.The IHKrecordedalmost100enquiriesonbusiness transferperworkingdayfor theyear2006.Theseenquiries range from theelaboraHonof a transfer concept, thedeterminaHonofthesaleorpurchasingprice,andthedemonstraHonofthedevelopmentpotenHalofthetransferredenterprisetotheelaboraHonofafundingconcept.

For the leavingentrepreneur, thebusiness transfermeansaverydeepturning‐point.NotonlytheemoHonalsidehastobeovercome,butalsothecontractualrelaHonships(social,marriage, lease,borrowed capital agreements, amongothers)mustbe regularisedagain.ItalsomeanschangesfortheotherparHesthatareindirectlyinvolvedinthemanagementtransferofamedium‐sizedenterprise,sinceanewmanagementbringsfrequentlywithitanewentrepreneurialandmanagementculture.AddiHonally,thishasadirecteffectontheemployees,customerrelaHonships,andthecooperaHonwithimportantbusinesspartners.

Thebusinesstransferprocesshidesaltogetherconsiderablerisksthatcouldbe increased,whentheprocessisnotiniHatedonHme.FinancialinsHtuHonstakethisintoaccountwhenassessinganenterprise.Forthatreason,theregulaHonofthebusinesstransferisconsideredasaqualitaHvefactor intheraHngprocessofthebanks,whichhasadirecteffectonthecreditcondiHonsanddisposiHonofthebank.

Importantconsultantsonissuesconcerningtransfer,takeover,transferforms,laws,financing,taxes, and communicaHon are trade associaHons, chambers, tax consultants, notaries,lawyers,enterpriseconsultantsorcreditconsultantsofbanks.Acomprehensivesupplyofcounsellingandserviceoffers,whicharepresentinthedifferentregionsorintheinternet,areguaranteedbyinsHtuHonalprovidersthatcoveralargecircleofpotenHalindividuals:

Thechambersof industryandcommerce (IHK)supportenterpriseson thequesHonsrelatedtobusinesstransferwithprivatecounsellingsessionsandevents.Nexxt‐change, the common iniHaHve of the Federal Ministry of Economics andTechnology,theKreditanstaltfürWiederau�au(KfW)(reconstrucHonloancorporaHon)aswellasrepresentaHvesofassociaHons,insHtuHons,andorganisaHonsoftheeconomicsector,creditsystem,andliberalprofessions.TheInternetsiteof„nexxt“isthemeeHngpointforallentrepreneurswhowanttotransferortakeoveranenterprise.

A good agreement between all involved parHes plays a significant role for a successfulbusinesstransfertogetherwiththehardfacts.DifficulHes,suchasthefactwhenmanagerscanhardlygiveuptheirlife‘sworkorwhentherearefricHonsbetweenthe„newones“andtheold‐establishedemployees,occurfrequently.Finally,abusinesstransferwithinafamilycangiverisetoconflictsbetweenthefamilymembers,suchasontheissueofinheritanceparHHon.AnearlyuseofprofessionalprocesssupporthasprovedtobemorethaneffecHveinordertoavoidorsolveconflicts.ExamplesofcounsellingorsupporHvebodiesare:

Coaching‐Consultants:TheyhavepsychologicalandentrepreneurialknowledgeaswellaspracHcalexperience.Mentors on economics: KfW MiCelstandsbank and DIHK convey mentors of theeconomic sector, who support enterprises, among others, in the case of problemsrelatedtobusinesstransfers.

Mediators:TheirobjecHveistofindasoluHonthatisconvenientforallpartsinvolvedinaconflict

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GermanChambersofIndustryandCommerce(dt.DeutscherIndustrie‐undHandelskammertag).Retrieved10.09.2008fromwww.dihk.de/english/.

InsHtuteofResearchonMedium‐SizedEnterprisesBonn.Retrieved12.09.2008fromwww.ifm‐bonn.org/.

KfWBankengruppe.Retrieved12.09.2008fromwww.kfw.de/EN_Home/index.jsp.Nexxt–IniHaHveUnternehmensnachfolge.Retrieved11.09.2008fromwww.nexxt.org/.

BundesministeriumfürArbeitundSoziales‐GründercoachingbeiGründungausArbeitslosigkeit.Retrieved10.09.2008fromwww.esf.de/portal/generator/734/programm__gruendercoaching.html

BundesministeriumfürBildungundForschung‐PowerfürGründerinnen.Retrieved13.09.2008fromhCp://www.esf.de/portal/generator/814/programm__power__fuer__gruenderinnen.html

BundesministeriumfürWirtscha2undTechnologie:EXIST–Gründungskultur:Retrieved12.09.2008fromwww.esf.de/portal/generator/752/programm__exist__gruendungskultur.htmlESIST–GründersHpendium:Retrieved12.09.2008fromwww.esf.de/portal/generator/758/programm__exist__gruendersHpendium.htmlhCp://www.exist.de/exist‐gruendersHpendium/index.phpInformaHons‐undSchulungsveranstaltung:Retrieved12.09.2008fromwww.esf.de/portal/generator/778/programm__schulungsveranstaltung__bafa.htmlUnternehmensberatungRetrieved12.09.2008fromwww.esf.de/portal/generator/784/programm__unternehmensberatung__bafa.htmlGründercoachinginDeutschlandRetrieved12.09.2008fromwww.esf.de/portal/generator/766/programm__gruendercoaching__deutschland.htmlhCp://www.kfw‐miCelstandsbank.de/DE_Home/Beratungsangebot/Beratungsfoerderung/Gruendercoaching_Deutschland/index.jsp

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GründerweCbewerbMulHmedia:Retrieved12.09.2008fromhCp://www.gruenderweCbewerb.de/

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Förderdatenbank.FörderprogrammeundFinanzhilfendesBundes,derLänderundderEU:Retrieved10.09.2008fromhCp://www.foerderdatenbank.de/

FörderungvonInformaHons‐undSchulungsveranstaltungensowieWorkshops:Retrieved10.09.2008fromhCp://www.bafa.de/bafa/de/wirtscha2sfoerderung/informaHons_und_schulungsveranstaltungen/index.html

Gründungszuschuss:Retrieved11.09.2008fromhCp://www.arbeitsagentur.de/nn_26400/NavigaHon/zentral/Buerger/Hilfen/Existenzgruendung/Existenzgruendung‐Nav.html

High‐TechGründerfonds:Retrieved13.09.2008fromhCp://www.high‐tech‐gruenderfonds.de/htgf/

KfWMiCelstandsbank:ERP‐Beteiligungsprogramm:Retrieved12.09.2008fromhCp://www.kfw‐miCelstandsbank.de/DE_Home/Beteiligungsfinanzierung/Later_Stage/ERP‐Beteiligungsprogramm/index.jspERP‐Regionalförderungsprogramm:Retrieved12.09.2008fromhCp://www.kfw‐miCelstandsbank.de/DE_Home/Kredite/Die_Foerderprogramme_im_Einzelnen/ERP‐Regionalfoerderprogramm/index.jspERP‐Starxonds:Retrieved12.09.2008fromhCp://www.kfw‐miCelstandsbank.de/DE_Home/Beteiligungsfinanzierung/Early_Stage/ERP‐Starxonds/index.jspUnternehmerkredit:Retrieved12.09.2008fromhCp://www.kfw‐miCelstandsbank.de/DE_Home/Kredite/Die_Foerderprogramme_im_Einzelnen/KfW‐Unternehmerkredit/index.jspERP‐KapitalfürGründung(Unternehmerkapital):Retrieved12.09.2008fromhCp://www.kfw‐miCelstandsbank.de/DE_Home/Kredite/Die_Foerderprogramme_im_Einzelnen/Unternehmerkapital/ERP‐Kapital_fuer_Gruendung/index.jsp

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Italy is located inSouthernEurope,apeninsulaextending intothecentralMediterraneanSea, in thenortheastofTunisiaand in thesouthofSwitzerlandandAustria. Its capital isRome.ThepopulaHonnumbersapproximately58.2millioninhabitantsonanareaof294,020km².

In1994,theEuropeanUnionissuedanalarmingsignalconcerningbusinesstransfer.Inthenext10years,oneoutofthreecompanies,whichmeansmillionsofmSMEs inall theEUmemberstates,wouldfacethatthornymoment.AddiHonallybusinesssuccessiontothirdparHeswouldbecomemoreandmorefrequent.ThisshouldholdtrueespeciallyforNorthernEuropeancountries.

The Italian situaHon was as much noteworthy. It was esHmated that about 1.5 millionenterprisesweregoingtohavetodealwithbusinesstransferanditsimplicaHonsinthenext10years:Thismeantthatitwouldaffectanaverageof600,000workplaceseveryyear.

Inspiteoftheseworryingstatements,theVenetoregionalinsHtuHonsfirststartedrealizingthat succession is a major issue for mSMEs and family businesses in the year 2001.PoliHcians responsible for mSMEs development noHced that there was no insHtuHonalsupport.Therefore,theydecidedtogodeeper intothemaCer. In2002,theyappointedaprivatecompanytodoresearchontheissueofbusinesstransfer.Thesurvey,calledRilancio(Relaunch),wasthefirstoneinItalyusingtheEuropeanparametersrecommendedintheBESTReport(May2002).Itsmainresultswereremarkable:

About118,000companies–27%ofthe444.000micro,smallandmediumenterprisesexisHngatthatHmeintheregionalterritory–couldbeatriskfortransferreasonsinthenexttenyears;

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About82%ofthemweredealingwithageneraHonalchangeover(transmissionamongfamilymembers);OneoutofthreepotenHalconHnuatorswasawoman;Finally,justafewbusinessownersandleaders(about8%)wereactuallyplanningthesuccession.

ConsideringthisinformaHon,regionalleadersdecidedtodealwiththeproblemwhichwasaffecHngsomanybusinesses.ItwasthefirstHmetheissuewasgoingtobemanagedfromaninsHtuHonalpointofview.TheRegionalGovernmentpromotedaroundtableopentothechambersofcommerceaswellastothesocialparHes,likeassociaHonsandtradeunions,withthemainobjecHveofdesigningabill to includebusinesstransfer inthe insHtuHonalagenda.TheobjecHvewas to facilitatebusiness transfergovernance in the regionand tosupportbusinessconHnuity.ThebasicchallengewastotransformwhatwasconsideredahiddenpotenHalthreatintoaconsciousinnovaHonopportunity.Keepinginmindtheoverallaim, the bill was developed, discussed and formally proposed (see the picture below tobeCerunderstanditsstructure).

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AnnualSurvey

GoodpracHces,tools

Bankofcases

Registerforexperts

StrategicgoodpracHce

BTguidelines

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mSMEfacingtheBT

Financialais(loans,consultancy)

“New”companies(i.e.branch)

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Thebillwasdividedintotwobasicparts:

I. Awareness raising and maintenance of permanent support: the means supposed toachieve these objecHves could be the creaHon of a Regional Dynamic Observatory andshouldinclude:

Annualsurveys:researchcanraiseawarenessaboutwhathappensandananalysiscanmakethereasonclearerwhythishappens;Databaseof goodpracHcesand tools: theEU suggestedgoodpracHces, strategicallyrecommendedgoodpracHcesfortransferincludingaspecialemphasisonthebusinessdevelopmentphase,Databaseofcases:containssamplesofeffecHvesoluHonsandvirtuouspathsoutlinedonthebasisofpreviousexperiences,etc.;Basicexpertsassessment:rulesandlistofassessedexperts;ProvisionalandsuggestedacHons:whattodo,topreventitfromhappeningandwhattodowhenithappens/hashappened.

II.PromoHonofconcretemeasuresformSMEs:sHlltoonon‐specificandnotfocusedonthewholeItalianterritory:

Currentandfutureactorsanalysis;Businessanalysis;Suggested„virtuous“transferplan;Ordinarytransferplan;SpecialincenHvecondiHons;Specialfinancialsupport(taxrules,loans,consultancy)andsuggestedlawstofollow.

The innovaHve bill was discussed by the Regional Council and unanimously approved in2005.Yet,sincenewregionalelecHonstookplaceshortlya2erwardsandthenewlyelectedpoliHciansdidnotconsiderthebillasapriority,thepracHcalapplicaHonphaseunfortunatelyneverstartedunHl2008.WhatremainedwasaweaksituaHonregardingthepublicsupportfor business transfer. Unfortunately, it sHll is. Things have sHll not changed. On the onehand, there isahuge fracHonofbusinesseshavingproblems indealingwith thedelicatetransferprocesses;ontheotherhand,thereisarisingproblemduetothelackofpotenHalsuccessors. It isesHmatedthat in Italyabout700.000cra2smensuccessorsaremissing indifferentsectorssuchasbakery,tailor,hydraulic,andwood2.

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AwarenessofBusinesstransferissHllverypoorintheVeneto(andItalian)territory.SincethereisnoacHvityonthenaHonallevel,ithasbeennecessary‐andsHllis‐toactregionallyinordertowakeupbusinessowners.SomeiniHaleffortswereaimedatdirectlyinvolvingentrepreneursbutwithoutmuchsuccess.SeniorentrepreneursinparHcularwerereluctanttobeinvolvedinacHonsspecificallyfocusedonbusinesstransfer,becausetheyfeltforcedto start thinking about their own reHrement. So, in order to get in touchwith them, anindirectapproachwasneeded.SeveralcoordinatedeventsandmeeHngopportuniHeswerepromotedandorganised‐o2enbytheprivateSCVactor‐instrictco‐operaHonwithseveralinsHtuHonal or quasi‐insHtuHonal operators, such as Chambers of Commerce and TradeAssociaHons. In Italy,ChambersofCommerceandTradeAssociaHonsconsHtuteareliablebaseforthenaHonalmSMEs’ground.TheyhavegreatimpactbyofferingawiderangeofservicesformSMEs,throughwhichthebusinesstransfersensiHsaHoncouldbeachieved.ItwasinthecontextofthissolidrelaHonshipbetweencompaniesandbodiesthroughwhichsomeinnovaHvepilotprojectswerepromoted. Itwasexpectedthat iniHaHvesrunbytheChamberofCommerceand/ortradeassociaHonswouldbeabletoreachasmanymSMEsaspossible.Severalactorsfromboththeprivateandthepublicsector,i.e.theRegionalCra2sAssociaHons,theRegionalIndustryAssociaHon,theAPCORegionalandNaHonalConsultantsAssociaHon, theAIFVenetoRegionTrainersAssociaHon,havebeenandsHll arecurrentlyinvolvedinawarenessraising.

AnexampleofpilotacHonledintheVenetoRegionbySCVduringthelastyearsistheso‐called“PrecauHonary SensiHzaHon” designed to sensiHzemicro companies to business transferissues.ItsmainacHonisasetofgroupmeeHngswithownersofmicroandsmallcompanies.SuchmeeHngspreferably aCendedbyamaximumof 15‐20peoplewerearranged in co‐operaHonwithbusinessassociaHonsorsimilarinsHtuHons,forthereasonsmenHonedabove.EachmeeHng‘spurposewastomaketheparHcipantsawareoftothetransfermanagementproblemsinordertoencouragethemtotakecareoftheirrespecHvebusinesstransferissuesinHme.ThemaintooltoachievethisgoalwasaquesHonnaireforentrepreneurs,adaptedfromkit.brunello,EuropeanGoodPracHcesince1998,aimingatquicklyshowingthebusinesstransfersituaHonofthecompany.Thistoolisalsoincludedinthekit.bryunello.system083asoneofthetoolsprovidedtosupportbusinesstransfergovernance.

2Unioncamere,January2008.

3Thenewkit.brunello.system08isawidegamutoftoolsaimedathelpingtodealwithallthephasesconcerningthebusinesstransferissue(fromthebasicsensiHsaHontotheactualtransfermanagement,fromthelocalsurveystothewholeterritorymonitoringthroughfocusedstaHsHcs).ForfurtherinformaHonpleasecontactinfo@studiocentroveneto.com.

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A2erthemeeHngs,the“PrecauHonarySensiHzaHon”approachincludedfourmoresteps:processingandanalysingthequesHonnaires;abriefreportforeachquesHonnaire(orcompany);personal(face‐to‐face)meeHngsbetweencompanyrepresentaHveswhoaCendedthemeeHngandconsultants;anoverallreportforthebusinessassociaHonorinsHtuHonsupporter.

ItisnotalwayseasytoconvinceentrepreneurstoparHcipateinsuchacHviHes.Tryingtoreachtheminvariousways,suchasleCers,phonecalls,arHclesinlocaljournals,communicaHonininsHtuHonperiodicjournals,andtesHmonials,isessenHal.Itisalsoimportanttorememberthatentrepreneursaregenerallyverybusy.WesuggestplanningthesemeeHngsa2erworkHmepreferablyalsobeforedinner.

Thissortofpublic‐privateacHonsplaysakeyrole inVeneHaandItaly. Itactuallyprovidesinterested parHes with an insHtuHonal, quasi‐insHtuHonal, professional, organisaHonal,pracHcal, and theoreHcalactors’networkwhichcouldguaranteeapotenHal serviceflow.Evenwhenworkingwell, it shouldbeseen justasa secondsoluHona2era fundamentalinsHtuHonalanswer.AstepforwardinthisdirecHonwasdoneinJanuary2008duringatrans‐naHonalEUproject(REINO4)meeHngthattookplaceinVenice.DuringthatmeeHngseveralinsHtuHonaldelegates‐allthemainregionalbusinessassociaHonsandtheregionalChambersofCommerceOrganisaHon‐signedarequestaddressedtotheregionalpoliHcalauthorityinwhichtheywereaskingtotakecareofthehandovertransferprocessesmanagement.Therecent approval (June 2008) of the Small Business Act by the EUCommission is anothergoodomenas it includesbusiness transfer in the listofchallengesneedingsupport.ThisinsHtuHonaldocumentrepresentsafurtherstepinthedirecHonofacHngpragmaHcallytoconvertthetransferprocessfromathreattoanopportunity.ThereisroomforhopethatthenextpublicmeasurespromotedandacHvatedcouldconfirmtheseexpectaHons.

Bornello,M.&Brunello,T.(2003).PassaggiObbligaH.Milano:FrancoAngeliEditore.

1.2.3.

4.

SpainislocatedinSouth‐westernEurope,borderingtheBayofBiscay,MediterraneanSea,North AtlanHc Ocean, and Pyrenees Mountains, in the south‐west of France. Its capitalisMadrid. ThepopulaHonnumbers approximately 40.5million inhabitants on an areaof499,542km².TheValenciaRegionisoneof17autonomousregionsinSpainand,liketheotherregions,hasawideself‐governmentpower.Itislocatedinthesouth‐eastofSpainanditsareaisof23,255 km2. It consists of threeprovinces, namelyAlicante, Castellón, andValencia. ThetotalpopulaHonoftheValenciaRegionis4,326,708.TheregisteredimmigrantpopulaHonrepresentsaround10%ofthetotal.

ThelevelofeconomicdevelopmentoftheValenciaRegion,measuredintermsofincomepercapita,isattheSpanishaverage.TheGDPpercapitaamountsto15,200Euros.InreferencetotheEuropeanUnion,theValenciaRegionhasexperiencedaprocessofrealconvergenceinthelastyearsthathastakenittohaveaGDPpercapitaof86.7%oftheEU‐15in1999andtoreach89.5%in2003.ThedistribuHonaccording toeconomicsectors in theregion is: services61.71%, industry24.22%,building9.57%andagriculture4.50%.TheagrariansetbackandtheterHarysectorprogressprocessesaretypicalcharacterisHcsofdevelopedeconomies.The Valencia economy is characterized by the diversity of its acHviHes. The industries offootwear,toy,furniture,andceramicshaveaveryimportanteconomicweight,asdotheironandsteelindustry,theautomobileindustry,chemistry,petrochemical,andfruitandvegetableplantaHonthatconcentrateonvariouspointsofthegeographyoftheregion.ThesmallandmediumcompaniesconsHtutethespineoftheeconomicdevelopment,asshowninthelastavailablestaHsHcaldataofthesurveyoftheCentralDirectoryofCompanies(DIRCE),carriedoutbytheNaHonalInsHtuteofStaHsHc(INE).

4hCp://www.reinoproject.eu.

48 49

ThecompaniesregisteredintheDIRCEoftheValenciaRegionin2006amountto348,692andrepresentaround10%oftheSpanishcompanies.AccordingtothestaHsHcaldataofDIRCEfortheyear2006,outof348,692companiesoftheValenciaRegion,348,221areSMEswith0to199employees,tobeprecise,99.86%ofallthecompaniesoftheterritory.93.52%ofthem,326,115, aremicro‐companies, and approximately half of the companies are enterpriseswithoutemployees,corroboraHngthiswaythecleardomainoftheself‐employmentthatcanbeobservedinthelegalstructureofValenciaenterprises.Thenumberofbigcompaniesisnotveryoutstandingandiswitharound0.1%belowthenaHonalaverage.TheenterprisesoftheValenciaRegionaremainlyregisteredunderthelegalstatusofphysicalperson(slightlymorethanthehalf)andaslimitedcompany(approximatelyathirdofthetotal).

Around48%oftheValenciaenterprisesareengagedintheservicesector,28%incommerce,13%inconstrucHon,and9%intheindustrialsector.ThestructureoftheValencianeconomydiffers from thatof Spain to someextent. The industrial and the commercial sectors aresomewhatover‐represented.Amoredetailedanalysis shows that thegreaterpartof theservice sector consists of restaurants, hotel businesses, and real estate agencies. Thecommerce,thesecondmostrepresentaHvesectoroftheValenciaeconomy, ismainlytheretailsector,withastrongpresenceoftheestablishmentsspecializedinfood,beverages,andtobacco.Finally,theindustrialsectorisbasicallymanufacturing,withapredominanceoftheproducHonoffootwear,furniture,andmetallicelementsforconstrucHon.

ThereisnoexactofficialdataonthetransferofbusinessesinSpain,but,accordingtosomeesHmaHons,morethan40%oftheSMEbelongtobusinessmenolderthan60yearsandagreatpartofthesedoesnothavesuccessorsinsidetheirfamilies.AccordingtosomecalculaHonsofthechambersofcommerce,approximately650,000companieswillbetransferredinthenexttenyears.

ThedifficulHesforthedevelopmentofthebusinesstransferareofthreetypes.Firstly,theinformaHonontheexistenceofSMEforsaleisscarceandfragmented.Secondly,onlyfewmechanismsoffinancialorfiscalsupportexistonthepartofthepublicadministraHonthatfacilitatestheprocessesoftransfer.Finally,therearealsogapsintheareaofthetrainingtoqualifytheagentsinvolvedinthebusinesstransferprocess.ThepublicauthoriHesconcentratetheiraCenHononthebusinessstart‐upprocessesmorethanonthetransferofbusinesses.ThereisnospecificpublicdepartmenttoaCendtothesephenomenaonanaHonal levelor in theValenciaRegion. Theassistance for the transferprocessispartofthegeneralprogrammesofsupportfortheSMEthattheGeneralDirecHonof Policy for SME of the Ministry of Industry develops. Among others acHviHes theseprogrammesprovideinformaHontotheSME,supervisethestart‐upofbusinesses,devisesomestaHsHcsanddatabases.Ontheotherhand,therearesomeinteresHnginiHaHvesfromsomebusinessorganisaHons,universiHes,andbusinessschoolsthatareproposingdifferentprogrammesandservicesoftrainingtothecompanies.Besides,otherprivateiniHaHvesforassistancetothebusinesstransferinSpaincomefromaccountants,consultants,banks,financialadvisors,andotherspecialiststhatofferassistanceatthelocallevel.While there are no specific training programmes for business succession in the ValenciaRegion,therearemanyprogrammesconcentratedonstart‐upenterprises. InSpain,morepreciselyinBarcelona,thereisanewmaster‘sdegreeonfamilybusinesstransfer.ThisistheonlyprogrammeonbusinesstransferthatexistsinSpain.ItisofferedbyIDEC(InsHtutodeEducaciónConHnua)andPompeuFabraUniversityofBarcelona.Itisapost‐graduatemaster‘sdegreeinManagementandTransferofFamilyBusinesswithaduraHonof750hours.

AddiHonally,therearesomewebsitesrelatedtobusinesstransfer,likewww.buyacom.comor www.bizalia.com. However, the databases are new, and the informaHon they offer isfragmented.Forexample,thedatabaseofbuyacomhaveoffersforonly169companiestobesold,andthebizaliadatabaseshows5700companiestobesoldortobuy(on15thAugust,2008).Somechambersofcommercehavealsodevelopedsomeprojectsonthissubject.Forexample,theChamberofCommerceofValenciahasadatabaseofcompaniesincludingalistofcompaniestobetransferredandisalsodevelopingaprojecttoadvisethetransferprocess.Moreover,thechambersofcommercehaveproducedareportaboutbusinesstransferof

50 51

companiesinFrance,Italy,andSpainontheEuropeanwebsitewww.eurotransbiz.com.ForadetailedoverviewoftrainingprogrammesconcernedwithentrepreneurshiporbusinesstransferseeAnnexII(pagexxx).

Alvarez, J. M. & Carrasco, A. (2004). Fusiones y adquisiciones de empresas. Madrid:Aranzadi.

CES‐CV(2004).MemoriasocioeconómicadelaComunidadValenciana.Valencia:ConsejoEconómicoySocialdelaComunidadValenciana

Fernández, J. P. (1999). Problemas de la transmisión de la empresa familiar. València:TirantloBlanch.

INE (2006). Directorio Central de Empresas 2006. Madrid: InsHtuto Nacional deEstadísHca.

IVE (2006). La Comunidad Valenciana en cifras 2006. Valencia: InsHtuto Valenciano deEstadísHca

Santandreu,E.(2004).ConsideracionesprácHcasenlaventayadquisicióndeempresas.Harvard‐DeustoFinanzasyContabilidad,2004,62,pp.48‐63

Negocius.Retrieved22.08.2008fromwww.buyacom.com.

Bizalia: compra venta empresas, compraventa, venta de negocias, venta de empresas,negocio.Retrieved22.08.2008fromwww.bizalia.com.

www.eurotransbiz.com. Retrieved 22.08.2008 from hCp://www.robtex.com/dns/eurotransbiz.com.html.

Denmark is locatedinNorthernEurope,borderingtheBalHcSeaandtheNorthSea,onapeninsulanorthofGermany(Jutland).Italsoincludestwomajorislands,namelySjaellandandFyn.ItscapitalisCopenhagen.Denmarkisasmallcountrywithatotalareaof43.094km²andhasapopulaHonof5.5million.TheGDPpercapitaiscomparaHvelyhighwithUS$37,000(2007),whichisnumbersixintheworld.DenmarkhasthelowestGini‐indexintheworldwith24.7.From2006to2008,surveysrankedDenmarkas„thehappiestplaceintheworld,“basedonstandardsofhealth,welfare,andeducaHon.Inthe2008survey,theGlobalPeaceIndexranksDenmarkasthesecondmostpeacefulcountryintheworld.In2008,thecapitalCopenhagen,wasrankedasthemostliveablecityintheworldbyMonoclemagazine.The naHonal languageDanish is similar to Swedish andNorwegian,withwhich it sharesstrongculturalandhistoricalHes.82.0%of the inhabitantsofDenmarkand90.3%of theethnicDanesaremembersoftheLutheranstatechurch.

Originally a seafaring naHon relying on fishing, farming and trade, Denmark experiencedsteady industrializaHon in the 19th and 20th centuries. Denmark had the world‘s thirdhighestGDPpercapitain1970.Between1970and1990,theleveloftaxaHonandregulaHonincreaseddramaHcally asDenmark adopted theNordicmodelwelfare state. A2er fallingsharplybehindinprosperity,unemployment,andother indicators,Denmarktooksteps ineconomicliberalizaHoninthe1980sand1990s,includingtheabolishmentofalmostalljobmarketregulaHons.Denmark‘smarketeconomyfeaturesaveryefficientagriculture,anup‐to‐datesmall‐scaleandcorporateindustry,extensivegovernmentwelfaremeasures,aboveaverageEuropeanlivingstandards,astablecurrency,andhighdependenceonforeigntrade.Denmarkisanetexporterof foodandenergyandhashad, foranumberof years,abalanceofpaymentssurplus.

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According to theWorldBank,Denmarkhas themostflexible labourmarket inEurope. Itiseasy tohire,fire,andfinda job.According to rankingsby theOECD,Denmarkhas theleastfinancialregulaHonintheEU‐15countriesandalsooneoftheleastregulatedproductmarketsofmostEuropeancountries,and15‐20%abovethatoftheUnitedStates.DenmarkrankedthirdintheGlobalCompeHHveessReport2008‐2009

According to theDanishMinistry of Economic and Business Affairs, both agriculture andindustryarehighlyeffecHve.Agricultureandfisheriesemployonly3.7%,andindustryandconstrucHon23%ofthepopulaHon.Theremaining73%areemployedintheservicesector,35%inpublicandpersonalservicesand38%inprivatebusiness,includingfinancialacHviHesandtradiHonalshippingtrade.20%oftheemployees inDenmarkareemployedinmicro‐enterprises. InDenmarkthesecompanies are also called sole trader and they have several employees,where only onepersonisresponsibleforthecompanyalsowhenitcomestoliabiliHes.Mostofthemicro‐enterprisesareagricultureandfishingwith1‐2employeesandcra2workers,butalsobarbershops, repair shops, small car dealers, kiosks, and small shops selling groceries are wellrepresented.InparHcular,manyimmigrantsworkinorhavemicro‐enterprises.Ithasbeendifficultforthemtofindajobinalargercompany,someHmesjustbecausetheirnameswerenot familiar totheDanesandsomeHmesbecausetheydidnotspeakDanish.ThismeansthatinDenmarkmanymicro‐enterpriseshavebeentransferredtonon‐ethnicDaneslivinginDenmarkandhaveo2enalreadybeennaturalised,whichmeansthattheyareDanishciHzens,butsHllwithalimitedunderstandingoftheDanishbusinessenvironment.Themajorityofthesepeopleworks longhours. Ifonecountedtheirhourly income, itwouldbe low,but,becausetheyareworkingmanyhours,someofthesesoleownershavehighincomes.Thisisthecaseformanypizzeriasandothertakeawayfoodstalls.Othermicro‐enterprisesarenotsofortunate,buttheyareveryentrepreneurial.Incaseacompanygoesbankrupt,itwillo2enbereopenedinthenameofthespouse,whichisawaytogetoutofthedebttrap.Thebiggestchallengeformicro‐enterprisesishowtodealwiththetaxauthoriHes.Forexample,ifafarmerculHvatesvegetables,hemightnotearnenoughtosurviveaccordingtoDanishtaxauthoriHes,whichwillgivehimanarHficialincomeandtaxhimaccordingly.Thismeansthatthefarmerispayingtaxonanincomethathedoesnothave.

In order to overcome the smallness ofmany Danish enterprises, Denmark is historicallyknown for its cooperaHvemovement concerning farming, food industry anddairy,whichmeansproduceror consumer controlled corporaHonswhichby thismeanshavebecomelarger.TheproducersorconsumersinfluencethecorporaHononaonemanonevotebasic.During recent years of globalisaHon, the cooperaHve system has undergone tremendouschangesbecause,forexample,individualfarmerswerenotinterestedininvesHnginforeignmarketswherelabourpowerwascheaper.ThedilemmawassolvedbythecooperaHvesbysePngupsubsidiariesthatarerunaslargercompaniesandarenotdirectlycontrolledbytheindividualfarmers,butbyaboardofdirectors.

AccordingtoastatementoftheCentralBusinessRegisterandtheDanishMinistryofTaxaHon,32,000entrepreneursstartupeachyear.Therefore,theinteresttostartone‘sowncompanyis apparently increasing.However,most of thepeoplewhoestablish their own companystartfromscratchandveryfewentrepreneurstakeoveranalreadyexisHngcompany(REINO,2006).

OnanaHonal level,only43%of thepersonallyownedcompanieswhichstarted in2000survivedthefirstfiveyears.Ofthecompaniesestablishedin1995,only27%survivedthefirsttenyears(REINO,2006).Surveysshowthatthesurvivalratesofcompaniestakenoverbyanentrepreneurarehigherthanfortheentrepreneurswhohavestartedfromscratch.OneoftheexplanaHonstowhyentrepreneurso2endonotconsidertakingoveranalreadyexisHngcompanyiso2enthattheireducaHonalbackgrounddoesnotfitwiththebackgroundneeded.Moreover,itisacommonunderstandingthattheycannotli2thefinancialburden.Othersdonotconsiderthepossibilityatall.

The1`stof January2007Denmarkdivided thecountry intofiveRegions,which integrate98countrycouncils.Thesehavebusinessofficesandcanofferguidancetoentrepreneursandcompaniestodifferentextents.InApril2006thegovernmenttookiniHaHvetoestablishregional Business Link centres (Startvækst) as part of their globalisaHon strategy. Theirpurposeistounifygovernmentalandlocaloffersforentrepreneursandsmallercompanieswith growth ambiHons. Business Link is an insHtuHon for entrepreneurs and growthbusinesses,operatedby theDanishEnterpriseandConstrucHonAuthority incooperaHon

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withanumberofpublicandprivatepartners.ThelocalauthoriHeswithintheregionownBusinessLinkarethecentralentrancetospecialisedbusinessserviceintheregion.BusinessLink’sjobistoprovideservicetothegrowthentrepreneursandthegrowthorientedcompaniesincooperaHonwiththelocalbusinessoffices.Businesstransfersareoneoftheareas theBusinessLinkcentresarespecialised in.Thebusinessoffices typically carryoutthe first problem clarificaHon, for instance, for a company owner who seeks addiHonalinformaHon and guidance about a business transfer. When the business offices find itappropriate,theassignmentispassedontotheBusinessLinkcentrewhichthenwillensureanopHmalprocess for thecompany.This servicehasnocost for thecompany. If specificfinancialand/orlegalcounsellingisneeded,theBusinessLinkcentrewillrefertheclienttoprivatespecialistswhothenwillsolvethespecificproblemsatnormalmarketcondiHons.

Denmark(officialwebpage).Retrieved01.10.2008fromhCp://www.denmark.dk/.

LivingInsHtute.Retrieved01.10.2008fromhCp://www.denmark.dk/.

Ministryof Economic andBusinessAffairsDenmark.Retrieved01.10.2008 fromhCp://www.oem.dk/.

REINO (Renewal and InnovaHon to Business Transfer of Micro Companies). 2006.(VS/2006/0347). Retrieved 01.10.2008 from hCp://www.reinoproject.eu/Reino.aspx?cat=201.

Startvækst.Retrieved01.10.2008fromhCp://www.startvaekst.dk.

SkaCeministeriet.Retrieved01.10.2008fromhCp://www.skm.dk/.

StaHsHcsDenmark.Retrieved01.10.2008fromhCp://www.dst.dk/.

TheGlobalCompeHHvenessReport2008‐2009.Retrieved30.11.2008fromhCp://www.weforum.org/en/iniHaHves/gcp/Global%20CompeHHveness%20Report/index.htm

Romania is locatedinSouth‐EastCentralEurope, inthenorthoftheBalkanPeninsula,ontheLowerDanube(1075km),withinandoutsidetheCarpathianarchandhasaccesstotheBlackSea.Romaniaisamedium‐sizedcountryinEuropewithasurfaceof238,391km2outofwhich87%(207,372km2)isruraland13%urban(31,018km2),comparabletotheUnitedKingdom.Romaniahas21.5millioninhabitants.ItscapitalcityisBucharest.

During the past years, the Romanian government has implemented macroeconomicpolicies aimedat supporHng theeconomic growth. TheEU conferred funcHoningmarketeconomystatusonRomaniainOctober2004,duetothesignificantprogressmadeintheimplementaHonofeconomicreforms.

In 2000, the real GDP ratewas only 1.8%. During the period 2001 – 2004, the averageincreaseratewasat6.1%.In2004asignificanteconomicgrowthof8.3%.wasregisteredInQ2 in2008.TherealGDPratewas9.3%.TheGDP/inhabitant indicatoralsorecordedaposiHvedevelopment.

A2er 1990, the economic structure changed significantly with a shi2 from industry andagriculturetoservices. Inafirstphase, therestructuringof industry ledtoareducHon initscontribuHontoaGDPgrowthfromabout40%in1990toalmost27%attheendofthe90’s.A2er2000,thestructuraldeclinewashalted,andthecontribuHonindustrymakestoGDPgrowthremainedataconstant level.ThesechangesmeantsubstanHal reducHons inemployment,parHcularlyintradiHonalheavyindustries,suchassteel,chemicalsandmachineproducHon.TheincreaseintheRomanianservicesectoriscomparablewithothermoderneconomies,andthefiguresshowthattheservicesectorhas increased itscontribuHontoGDPgrowth,from26.5%in1990to48.3%in2005(seetablebelow).

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2000 2001 2002 2003 2004* 2005**

GrossAddedValue,ofwhich:

Manufacturing 17.3 27.7 28.1 25.0 25.1 24.4

Agriculture 11.1 13.3 11.4 11.6 12.8 8.9

ConstrucHon 4.9 5.3 5.8 5.8 6.0 6.5

Services 46.3 44.5 45.3 46.4 45.2 48.3

OtherComponents 10.4 9.2 9.4 11.2 10.9 11.9

GrossDomesHcProduct 100 100 100 100 100 100

*Semi‐definiteData.**ProvisionalData.

Source:Na9onalCommissionforPrognosis,basedondatafromtheNa9onalIns9tuteofSta9s9cs

Thenumberofunemployedpeople,definedaccordingtoILOcriteria,followedanoscillatorytrend, reaching641,000persons in 2007, as compared to704,000persons in 2005,withyouth(15‐24years)accounHngfor30.7%.Themen‘sshareprevails(62.2%in2007).AbouttwothirdsofunemployedpeopleresideinmunicipaliHesandtowns(65.8%in2007).ThebreakdownofemploymentbyacHviHesofnaHonaleconomyshowsthatduringrecentyears,theservicessectorshowedanupwardtrend,withemploymentrisingfrom37.5%in2005to39.1%in2007.Bycontrast,theagriculturalsectorrecordedadecline,theshareofemployedpeopledecreasingfrom32.2%in2005to29.5%in2007.Withinnon‐agriculturalbranches in 2007, 29.9%of employedpersonsworked inmanufacturing, 17.5% in trade,10.3% in construcHon, and7.4% in transport, storage, and communicaHons. TheposiHveeconomictrendsarerepresentedbythesteadyincreaseinemploymentwithintheprivatesector,from76.6%in2005to79.3%in2007.

Romania’sforeigntradeincreasedsignificantlyastheeconomystructurewasmodernised.During2000‐2005,exportsandimports increasedwithagrowthrateof18.6%and21.9%respecHvely.TwothirdsofforeigntradeiswiththeEUmemberstates(35.3billionEUR).70%oftheEUtradewasdonewithfourcountries,namelyItaly,Germany,France,andtheUK.

Theshareofoutwardprocessingtrade(OPT)exportofgoodsishigh.Thestructureofexportshasconsiderablychangedinrecentyears,withOPTfromthelightindustrybeingprogressivelyreplacedwithmachineryandequipment.Themajorityofexportsare in lowandmedium technologyproducts. Someprogresshasbeenmade in themove to higher value added products and services (communicaHons,automoHve– 5.1% of total in 2005, electric machinery and apparatus – 5.1%). Romaniaimports the biggest part of the used high and medium technology products. RomanianexportsremaincostcompeHHveratherthaninnovaHveandtechnologicallyadvanced.

RomaniadoesnothaveatradiHonofentrepreneurship,withanaveragenumberof19SMEsper1,000inhabitants,which isthree Hmes lowerthan inthe EU‐15(52SMEsper1,000inhabitants).

2005 2006 Sem.I20071)

Total 431135 459972 4988922

Miningandquarrying 642 707 493

Manufacturing 56765 57835 44778

Electricanthermalenergy,gasandwater 379 412 389

ConstrucHon 30204 35954 32365

Wholesaleand retail, repairandmaintencanceofmotor‐vehicles andmotorcycles and of individualandhouseholdappliances

200246 205787 266902

Hotelsandrestaurants 19204 20554 16389

Transport,storageandcommunicaHons 28810 31969 27493

Real estate transacHons, renHngs and serviceacHviHesmainlyrenderedtoenterprises

74200 83828 94241

OtheraciHviHesofcollecHve, social,andpersonalservices

20685 22926 15872

Source:Sta9s9calAbstract–RomaniainFigures,Na9onalIns9tuteofSta9s9cs

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SMEs as employers account for only a marginally lower proporHon of employees inemploymentthantheEuropeanaverage,with56.6%inRomaniain2004and69.7%intheEUin2002.However,thetrendofemploymentrateinSMEswasposiHveduringtheperiodsin2002‐2004with16.7%.AnanalysisbysectorsshowsthattheproducHvityofSMEsacHveintheserviceareain2004wasEUR36,863/employee,EUR17,303/employeeintheindustry,EUR18,964/employeeinconstrucHonsandEUR18,445/employeeintheagriculture.

In2004,theexportsoftheSMEsectoramountedtoEUR6,754.8millioninvalue,whiletheimports reached EUR13,203.7million.Most SMEsmade small investments. Thus, 46.1%oftheSMEsdeclaredtohavemadesmallinvestmentsin2004,while14.3%ofthemmadebiggerinvestments.TheanalysisbysectorsofacHvityhighlightstheparHcularsituaHonofthehotelsandrestaurantssectorintermsofinvestments.Theshareofsmall investmentsmadebyhotelsandrestaurantsisalmosttwicetheoverallaverage,i.e.73.3%.Infact,thisisthesectorwiththelargestnumberofSMEswhichmadebiginvestments(25.3%).InthetransportaHonandtelecommunicaHonssector, thevolumeofsmall investmentsaccountsformorethan40%.

AtpresenttherearenoorganizedmarketplacesforthetransferofbusinessesinRomania.

Many of the owner‐managers of the companies have reached the age where they arethinkingabouttransferringtheirbusiness.Morethan11%oftheSMEsareownedbypeopleolderthan55,buttheownerreachingreHrementageisnottheonlyreasonforthetransferofenterprises.AnimportantissueofbusinesstransfersistopreservetradiHonalacHviHes,especiallywithincra2sandco‐operaHves.

Organisingsupport for thetransferofbusiness inRomania is sHll inanearlystage.Someprovisions were established by law no. 346/2004 on sHmulaHng the sePng‐up anddevelopmentofSMEs,whichtookintoaccounttheEuropeanCommission’srecommendaHonof1994onthetransferofbusinessasarealalternaHvetostart‐up.TheulHmateaimoftheprogrammeistopromoteeconomicdevelopmentthroughthetransferofbusinesseswithgrowthpotenHalandtoapplythetradiHonalpracHcesandideasfromthefoundingownerstoanewgeneraHonofentrepreneurs.

WithintheLeonardoBusinessTransferProgramme,mulHplelobbyacHviHesandawarenessacHonswereconductedbySVASTAConsultwithinthenetworkingmeeHngsandconferencesof Romanian AssociaHon of Management Consultancies (AMCOR), within the formerNaHonalAgencyforSmallandMediumSizedEnterprisesandCooperaHves–DepartmentofTechnicalAssistance, actualMinistry for Small andMedium–SizedCompanies, Trade,Tourism&LiberalProfessions(MSMEsCTTLP).Fortunately,oureffortswerekindlysupportedbyMs.IleanaModreanu,atopdecisionmakerwithintheabovemenHonedinsHtuHon.

Sofartheresultsareasfollows:Orderno.722/30May2008ofMinistryforSMEs(MSMEsCTTLP)referringtoSupportProgram of Business Transfer in Romania – budget for 2008 – 50,000 EUR; all theadministraHve costs related to business transfer are zero, being covered from thisprogram.Portal for business entrepreneurs –www.esimplu.ro, containing a benchmarking formeasuringandevaluaHonoftheSMEsperformances.

StructuralFundssupport forBusinessTransferallocatedbySectorialOperaHonalProgramfor Economic CompeHHveness to PriorityAxe 1 – elaboraHonof business evaluaHon anddiagnosisstudiesforbusinesstransfer–grantsof10,000EUR,70%co‐financing.

StaHsHcal Abstract – Romania in Figures, NaHonal InsHtute of StaHsHcs. Retrieved22.08.2008fromwww.insse.ro.

Ministry for Small andMedium–SizedCompanies, Trade, Tourism& Liberal Professions(MSMEsCTTLP).Retrieved22.08.2008fromwww.mimmc.ro.

Portalforbusinessentrepreneurs.Retrieved22.08.2008fromwww.esimplu.ro.

RomaniaNaHonalDevelopmentPlan2007–2013

European Commission (2006). Markets for business transfer: Fostering TransparentmarketplacesforthetransferofbusinessesinEurope.Brussels:EuropeanCommission.

1.

2.

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Turkey is situated in south‐easternEuropeandsouth‐westernAsia (theporHonofTurkeywestoftheBosporus isgeographicallypartofEurope),borderingtheBlackSea,betweenBulgariaandGeorgia,andborderingtheAegeanSeaandtheMediterraneanSea,betweenGreece and Syria. Its capital is Ankara. PopulaHon numbers approximately 71.9 millioninhabitantsonanareaof770,760km².

Owingtotheirnumberandthelargeshareoftheworkforcetheyemploy,smallandmedium‐sizedenterprises(SMEs)playanimportantroleintheTurkisheconomy.SMEsrepresent99%ofthetotalcompaniesandkeep75%ofemployment,and46%ofbusinessturnoverinTurkey.EsHmatesvary,butitiscertainthatSMEsaccountforanenormousamountoftheTurkisheconomy,keepingbetween95%and99%ofTurkishbusinesses,accordingtoanalysts.Therearearoundfourmillionbusinesses,calledmicro‐SMEs,whichhavebetweenoneandten employees registeredwith the Tradesmen‘s andArHsans‘ ConfederaHon. In addiHon,officialdocumentssaythatinTurkeythenumberofunregisteredofinformalbusinessesliesanywherebetween500,000toeightmillion.Atthestartofthedecade,theNaHonalReportonSustainableDevelopmentesHmatedtherewereoversixmillionpeopleworking in thecountry‘sunregisteredSMEsector.

The Turkish SME‘s average profile is different from SMEs in the EU, and their averageworkforceandturnoveraremuchsmallerthanamongotherOECDcountries.Theyarewellbehindintermsofknow‐how,skill levels,capitalinvestmenttosupporttheiracHviHesi.e.training,andaccessandabilitytotakeadvantageofmoderntechnologies,especiallyintheinformaHonandcommunicaHonsfields.Asinmostothercountries,theyfinditdifficulttoobtainfinancing.FormanyyearsthegovernmentauthoriHeshavecarriedoutawidevarietyofprogrammestosupporttheseenterprises.

SuccessionplanningisimportantforanybusinesstosurviveforgeneraHons.AcomprehensivebusinesssuccessionplanlaysthefoundaHonforasmoothertransiHonfromonecompanypresident to the next. In Turkey, business transfer is more common among the familymemberswhen theSMEsaremicro companiesandmanagementbuy in,which refers toexternalpersonsinterestedintakingoveracompany,ismorecommonwhenthecompanyisbigger.Managementbuyouts,employeeswithinthecompanyinterestedintakingoverthecompany,arenotcommonlyseen.ManagementbuyinsareseenasriskybecausethereisnoinsHtuHoncontrollingthedebtsoftheSMEs,soanewownermighthavetheriskoffacingthedebtsoftheSMEa2ertheSMEwastransferredtothenewowner.Furthermore,inTurkey,therearemanySMEswhicharecloseddownwhenanotherjobistaken.

TrainingandconsultancyservicesfortransferofbusinessistakenasanissueinthecontextoftrainingsofinsHtuHonalisaHonoffamilyfirmsandmanagementinfamilyfirmsduetothefactthattransferofbusinessismorecommonlyseeninfamilyfirms.BusinessTransferIniHaHvesinTurkey

InTurkeythere isnodatabasewhichbringstogetherownersoftheSMEswhowould liketotransfertheirbusinessandpeoplewhowouldliketotakeover.TheownersofthemicroSMEswhowouldliketotransfertheirbusinessmakeannouncementsinlocaland/ornaHonalnewspapersorputannouncementsintheirshopwindowsshowingthattheshopisforsaletobusinesssuccessors.

Atpresentno reliabledataon the transferofbusiness is available inTurkey. Itwouldbeimportant to collect informaHon about the reasons for the transfer of business, such aschangingmarkets;newproductsordistribuHonchannels; incidentssuchasdeath, illness,divorceandpersonneldecisions, changeofprofession,and reHrement,and toperformadetailedanalysisinthisareainordertoshapeadevelopmentstrategyforSMEs.

In 2004, KOSGEB (Small and Medium Industry Development OrganizaHon) conducted asurveyonthesituaHonofTurkishSMEs,whichincludedsomebusinesstransferindicators.TheinformaHonobtainedfromapproximately43,000SMEs,whichaccountforonefi2hofallTurkishSMEs,confirmedthat15,000SMEshadbeentransferred;mostofwhichwerefamilybusinesses.InTurkeyreHrementisnotthemainreasonforbusinesstransfer.Otherreasons

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areequally importantandshouldbeaddressed inordertopreventunnecessarybusinessclosuresintheSMEsector.

InTurkeytherearenoorganizedmarketplacesatpresent,buttherearesomeiniHaHvestosetupdatabasesofbuyersandsellersandtocreateaNaHonalBusinessTransferCentre.TheNaHonal StaHsHcal InsHtute has completed the creaHon of Business Record SystemsofTurkey inaccordancewithEUnorms. In2006,anewcommonprojectwith theEUonbusinessdemographywaslaunchedandbusinesstransferindicatorswillbecomeapartoftherecordsystem.InaddiHon,somebusinesstransferindicatorshavebeenintroducedintotheKOSGEB’sSMEdatabase.ItisplannedtoiniHateanaHonalhostdatabaseforbuyersandsellersatKOSGEB.

In2005,KOSGEBpreparedaprojectproposalforsubmissiontotheEUFinancialCooperaHonFund to create the NaHonal Business Transfer Centre for providing and coordinaHnginformaHon, creaHng a contact mediaHon system for buyers‐sellers, collecHng data ontransferofbusinesses,andalsosHmulaHngcooperaHonwiththeEUbylinkingupexisHngEUdatabases.Thisproposalwasdiscussedinthe2006annualprogrammeandevaluatedinthe2007programme.StudiesaboutKOSGEBBusinessTransferCentrehavebeenconHnuinginTurkey.

Turkey(officialwebpage).Retrieved1.08.2008,fromhCp://www.kosgeb.gov.tr/.

Considering the situaHon in different European countries, some of which have beenpresentedabove,andthepan‐EuropeaniniHaHves,wecanconcludethat,whiletheproblemofunsuccessfulbusinesssuccessionandtheconnectedhighcosthasbeennoHcedonanEuropean level, there is sHllonlyasmalldegreeofawarenessandcorrespondinglymuchtooliCleeffortonnaHonalandregionallevels.Atfirstunion‐wideiniHaHveswerelaunched.However,noneoftheseiniHaHvesseemedtohaveprofoundimpactonregionallevel.MostlynaHonalandregionalauthoriHesdonotassignhighlevelsofprioritytosolveproblemsofbusiness successionor to support theprocesswitheasilyavailableexpertsand trainings.Yet,theamountofmoneythatcouldbesavedandthenumberofjobsthatcouldberescuedisenormous.AlthoughexisHnginiHaHvesaremanifoldandshowverydifferentdegreesofsuccess, theyrarelyoffercompleteknowledgeandsupportneededfromonesource.ThedevelopmentofanewEuropeantrainingandconsulHngprogrammeincludingthenecessarytools for screening and planning and the corresponding project applicaHonwas a logicalstepintothedirecHonofsolvingtheproblem.EventhoughtheprojectprovedtobeverysuccessfulasthetraineesprovidedexcellentfeedbackandanumberoftrainingswillmostprobablyconHnuetousethedevelopedmateriala2ertheendoftheproject,thereissHlladireneedformoreawarenessraisingacHviHesonalllevels.Mostlysuccessorsarenotawareoftheproblemsanddangersconnectedtotransferringabusiness,whichsHllo2enleadstodisaster.

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AttheEuropeanlevel,manysmallandmediumsizedcompanieswillhavetofaceatransferofownershipwithinthenextdecade.Asmeasurestofacilitatethebusinesstransferandtheconsciousnessforlong‐termplanningaresHlllacking,thedevelopmentofimprovementsintheframeworkcondiHons forSMEs,amongstothersbusinesstransfers,wouldbehelpful.Examplesof suchmeasureswouldbe steps to raise awareness, to increase transparencyand improve entrepreneurial educaHon, to ensure that training insHtuHons deliver anadequate supply of skills adapted to theneedsof SMEs, and to provide lifeHme trainingprogrammes.TheiniHalmoHvaHonfortheproject“BusinessTransferProgramme(BTP)”wasthedevelopmentandimplementaHonoffurthermeasurestofacilitatebusinesssuccessionand transfer in Europeand to raiseawarenessabout this topicespecially in the involvedprojectpartnercountries.

Theprimarygoalofthisprojectwasthedevelopmentofatailor‐madetrainingforsuccessorsand transferors in combinaHonwith a technical aid, the Screening Tool. The coursewasdesigned as an integral concept for business succession and includes technical detailsconnectedwith handingover a business aswell as aspects of enterprise leadership. Thetrainingisnotorientedtowardnewfounders/start‐upsbecauseatransferprocessrequiresavarietyoflong‐termandstrategicplanningaswellasarrangementswhichmustbemadeearlytoguaranteeitssuccessandisnotcomparablewiththefoundaHonofanenterprise.

Onthebasisofanextensiveliteratureresearchandabroadsurveyofsuccessors/transferorsinallsevenpartnercountries,adra2curriculumwasdeveloped.A2eratrialrunhadbeencarriedout in twocountries,namely trans‐naHonally inAustria/Germanyand in Italy, thecurriculum was adapted according to the feedback from parHcipants, training staff, thesummarisedevaluaHonresults,andtheconstantexchangeofexperienceamongtheproject

partners.ThereasonsforthetrialruninthecountriesmenHonedabovewerethedifferentcondiHonswithregardtothetopicofbusinesssuccession/transferinthepartnercountries(learningfrombestpracHcesincountrieswherethistopicisalreadymoreemphasised),theorganisaHonalprerequisitestocarryoutatestrunandtoguaranteetwosuccessfultrainingswithenoughparHcipants.

Thetrainingwasdesignedonamodularbasisandcombineddifferentteachingandstudyingmethods, such as face‐to‐face, use of an e‐learning plaxorm, peer group learning, andselfstudybydeliveringatransferplananddescribingthe imminenttransferprocess.Thecurriculumitself,aswillbeshowninthelatersecHons,originallyconsistedofsixmodules:

legalaspectsofthetake‐overprocessfinancingandrecapitalisaHonanalysisandvaluaHonofthebusiness(duediligence)markeHngsocialskillshumanresourcemanagement

Thedevelopmentofthecurriculumwasaccompaniedbythedesignofaspecificon‐linetooltailoredtofacilitatethetake‐overprocess.ThestructureoftheScreeningTool isorientedto themain trainingmodules and is based on standardised quesHonnaires on the legal,economic(finance,analysis,markeHng,humanresources,locaHon),andtechnicalsituaHonofthetransferredcompany.The tool enables afirst evaluaHonof the take‐overbusiness from theeconomicpointofview and contributes to increasing the necessary entrepreneurial transfer‐informaHon. Itis a highly innovaHve technical instrument for successors, transferors, and managementconsultantsthatsupportsthebusinesstransferprocess.

ApartfromthedesignofthecurriculumandScreeningTool,aspecificconceptwasdevelopedthatallowsasmanytraininginsHtuHonsaspossibletouseandimplementthecurriculumwhichensuresthatthetargetgroupsbenefitfromthecurriculumandScreeningTool.Inordertoachieve this goal, the trainingprogrammewas standardised inasmanycharacterisHcs

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as possible, whereas for special modules, e.g. law/legal aspects and finance (differentfunding systems in the countries), local adaptaHonswere allowed. These standardisaHonefforts included the uniform curriculum and course contents, technical requirements (e‐learning plaxorm and Screening tool), and a uniform Hme schedule for the face‐to‐facetraining. A2er fine‐tuning the curriculum (feedback and adaptaHon phase), the trainingprogrammeandscreeningcannowbeofferedbyvocaHonaltrainingprovidersandthelaCerbymanagementconsultantswhoobtainpermissionthroughtheBTPconsorHum.Inordertoofferthecurriculum,thecapacityandresourcestodeliverthecontentatthequalitydefinedbytheprojectconsorHummustbeavailable.TheexisHnge‐learningplaxormisconstantlybeingupdated, andboth, the learningplaxormand Screening Tool, canbeusedbynewparHcipants.Thisprovidesagoodopportunity tobuildacommunityofparHcipants fromdifferentcountriesbyfacilitaHngthesharingoftheirexperHse.

Apart from delivering valuable content and knowledge, the project consorHum tried toprovide maximum value to the parHcipants in the training programme. Based on theexperienceoftheconsorHum,internaHonalrecogniHongivesahighvaluetotheprogrammeitself.TheconsorHumagreedonaEuropeandiploma/cerHficatebasedonacertainamountofcompulsoryaCendanceduring thepresenceblock,acertainamountofe‐learningandself‐studyhoursandHmeforthefinaltransferplan,andthefinalevaluaHonofthetransferplanbytheexternalsuccession/transferexpert.

Throughthetrialrunintwopartnercountries,namelytrans‐naHonallyinAustria/Germanyand in Italy, the curriculum was tested for pracHcal implementaHon. Furthermore, thetrainingwasadaptedandfurtherdevelopedduringanda2erthetestrunsinordertohaveaEuropean‐wide,standardiseddiploma‐coursethatcanbeofferedinthetrainingprogrammeof the project partners. Due to cooperaHon with training insHtuHons and chambers ofcommerceduringanda2ertheendoftheproject,thesustainabilityoftheprojectresultsisassured.

Asabusinesssuccession/transfermeansadeepcut intoexisHngbusinessstructures, thisprocess needs to be well prepared and planned. The main target group are “businesssuccessors”dividedintothefollowingthreemainsub‐groups:

Familymembers, becausemore andmore businesses are being transferred to non‐familypersonsManagementbuyout:employeeswhotakeoveracompanyManagementbuyin:externalpersonswhowanttotakeoveranexisHngbusiness

It has to be noted that, since the project applicaHon phase, the project consorHum hasfocussed solely on business successors and transferors because exisHng trainings andconsultaHonaretargetedatfoundersandnotonsuccessors.ThemainemphasisregardingthecontentofexisHngtrainingsisongeneralbusinesseconomicbases,suchasmarkeHng,accounHng, costs/turnover calculaHon, and social factors as well as sales strategies andacquisiHon.Thisbasicknowledgeisconsideredtobethebasisforthebusinesssuccessors/transferorsandforthebusinesstransfertrainingcombinedwiththescreeningtool.

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The innovaHve training conceptof theBusiness TransferProgramme is abroad,modern,blendedlearningconcept.Methods,likeself‐directedlearning,face‐to‐facetraining,ande‐learning,individualcoaching,andlearningfromexperiencearecombined.Thedevelopmentof the BTP curriculum was based on a standardised applicaHon in different Europeancountries.

This training programme is designed as an integrated soluHon combining the process ofconsulHng, training, and experience exchange in a single, integrated approach that takesinto account the fact that successors canusually provideonly limited resources in termsofpresenceHmefortraining.Forthisreasonaswellas formethodologicalpurposes, theprogramme employs a blended learning approach incorporaHng presence learning withselectedfeaturesofe‐learningundertheumbrellaofaspecificallydesignedlearningpath.ThislearningpathwassetupbyexpertsoftheconsorHumworkingtogethertodeliverstateoftheartcontentusingcontemporarybestpracHcetechniquesinvocaHonaleducaHon.

Theblendedlearningconceptenableslearninginlargegroups,smallteams,orindividuallyinaself‐directedway.Themode,Hme,andplacecanbechosenbyparHcipantsthemselves,andtheyareempoweredtofollowtheirindividuallearningapproach.Toreachthislevelofself‐organisedlearning,parHcipantsarefamiliarisedwiththesedifferentlearningmethodsatthebeginningofthetrainingthroughanintroductorysession.

IntotalBTPwasdevelopedinamodularfashion.EachoftheBTPmodulescanbeincludedin individual trainingpaths,butthere isnoneedto includeallof themortousetheminalwaysthesamefashion.ThematerialisdesignedtoallowforeasyadaptaHonfordifferentprogrammeswhicharealreadyinuse.InaddiHontomaterialforfacetofacelecturesandindividualconsulHngsessions,e‐learningelements,problembasedexercises,andselfstudymaterialformanintegralpartofthetraining.

ThedevelopedcurriculumandScreeningToolcanbeappliedindifferentEuropeancountries.Sincethecontentandtheexpectedoutcomesarewelldefined,itcanbeofferedbytraininginsHtutesthathavetheresourcesandknowledgetomeettheBTPrequirements.Inthecontextofthepilotproject,thecurriculumwastwicecarriedoutasatestrun.Itwasshownthatthetrainingprogrammewashighlysuccessfully,whichcanbeseenthroughthehighlyposiHvefeedbackofthecourseparHcipants.However, ithadtobeadaptedandfurther improvedonthebasisofthegatheredfeedback.Finally,ahighlyinnovaHvetrainingprogrammecanbeofferedthroughoutEuropeeitherincombinaHonwiththeScreeningToolorseparately,whichguaranteesthesustainabilityoftheachievedprojectresults.

Chart 1 gives a comprehensive overview of the suggested learning path within the BTPtrainingprogramme.Thepresenceblockscontained in thetrainingarecomplementedbye‐learningelements,selfstudyphases,andproblembasedworkinwhichstronginteracHonbetween parHcipants and trainers/consultants is fostered to develop independent skillsinworking individually on the respecHve succession plan. Throughout thewhole period,evaluaHonandmonitoringtoolscheckforprogressoftheparHcipants.AlltheseelementsconsHtuteablendedlearningapproachwhichisbasedonequalraHosofgroupmeeHngs,individualcounselling.andselfpacedtraining.Thesuggested learningpathcaneasilybemodifiedby removingoraddingelementsandmodules,thoughthatmethodisrecommendedforexperiencedprofessionalsonly.

TheBTPconsistsoftwomainpaths:

Individualpath,whichincludestheindividualsuccessionplan,consulHngsessionsandselfpacedtrainingusingthee‐learningelements.Grouppath,whichincludesgrouptrainingsinfacetofacesessions.

TheBTPTrainingModulesprovideelementsforeachofthesepaths.ThecombinaHonoftheindividualsuccessionplan,consulHngandgrouptrainingswill formthecomplete learningpathforeachparHcipant.

1.

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EvenbeforethebeginningoftheactualtrainingpotenHalparHcipantsreceiveanintroducHontoBTPviadifferentinformaHonchannels)itisessenHalformoHvaHonalpurposesthattheyunderstandwhytheyshouldpartakeinBTPandsupporttheaimsoftheprogramme.Theprogramme startswith an introducHonor orientaHon sessionprovidingparHcipantswithallnecessary informaHonabout theBTPmaterials, themethodologyemployed, thegoalsand content of the training, the Hmeline, expected results, administraHve issues as wellas introducing the trainer/consultant. This phase uses the same approach as the wholeprogrammebyintegraHngonlinematerialsaswellaspresenceparts.

InpartparalleltotheinformaHonphase,parHcipantsareprovidedwithintroductorycontentvia thewebpage. For parHcipantswho cannot use thismedia due to a lackof computerknowledgeorlackofequipment,computeraccessisavailableatthetrainingfacility,thoughthis did not prove necessary. Thismarks the beginning of the e‐learning, self‐study, andcommunicaHon and supervision phases of the training. These phases are summarized inoneonlineblocklasHngthroughoutthetrainingprogramme.Eachmodulehasadefinedsetofpreliminarymaterials,supporHvematerial,andlinkstoexternalsourcescontribuHngtobuildingbasicknowledgeandexperHseineachmodulenecessaryfortheopHmaluseofHmeduringthesubsequentgrouptrainings.AllBTPmaterialwasavailableviatheonlineplaxorm,readingmaterialsandsupporHvematerialwereeitheravailablefordownloadandreadyforprintout(ifnotcopyrighted)orasreference.MaterialpresentedinfacetofacesessionswasalsoavailableasPowerPointontheplaxormtoprovidethechancetocatchuponatopicifasessionwasmissed.CommunicaHonwiththetrainerswaspossiblefacetofaceatthemeeHngsbutalsoperemailandforums.

In addiHon to online collaboraHon and e‐content delivery, the BTP training programmefostereddirectfacetofacegroupwork.Intotalthepresenceblockscovers60grouptrainingunits.

The trainings following the informaHon block are focused on face to face experienceexchangeandknowledgetransfer.AddiHonalelementsusedwerecontentdeliverythroughlectures, small groupwork, independentworkon assignments, coaching and supervisionthroughtrainers,quesHonandanswersessions,groupdiscussionsaswellasworkoncasestudies.DependingontheHmeavailable,onthemethodsalreadyinuseandonthewishesof trainersandparHcipants,eachofthemodulescanbe includedsingularlyorthewholeprogrammecanbeusedtoprovidethetraining.BTPtriestocoverall(oratleastmostof)thetopicspossiblyrelevant fortheparHcipants,butexperiencedtrainersandconsultantswillo2enneedtoincludeaddiHonalelementsforbestresults.Withitsmodularstructure,BTPencouragesthis.GrouptrainingsformanintegralpartofthelearningpathbyprovidingopportuniHesandlearningexperiencesalmostimpossibletodeliverinthesamequalityinonline courses. The strong commitmentof this trainingprogramme forpresence trainingismirrored in the amount of Hme suggested for group trainings. This phase opHmally issupplemented by thematerial provided but leaves enoughHme for parHcipants toworkonselected topics themselves.Detailsoncontents foreachmodulearepresented in thefollwingsecHons.

E-Learning - Self Study

Pre Training Phase Training Units

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ApartoftheBTPtrainingprogrammeisdedicatedtoindependentlycreaHngandindividuallyworkingona specific successionplanwhich is setup togetherwith the consultantusingthescreeningtooldescribedabove.ThescheduleofthewholeprogrammeleavesenoughHmetoallowforassignmentsandpracHcalworkonthesuccessionplan.ItwillbeusedtospecificallymeettheneedscommunicatedthroughtheparHcipants inthecourseoftheirindividualconsulHngsessions.Initsmainpurpose,theacHonplanservestheneedtodefinepersonalaimsandastepwiseapproachforreachingthem.ThisensuresastructuredwayforprogressfortheparHcipantsandallowsforaneasycheckupofsuccessand,therefore,raisesqualityconsiderably.TheacHonplanisconHnuouslyupdatedandrefined,eachacHvitysetwillbecheckedforsuccessindueHme.ThisisaveryimportantelementofBTP.ThisindividualplanisthebackboneofthetrainingandservesasthemainmoHvaHonaltoolfortheparHcipant.InthisrespectthegroupmeeHngsserveasidealforumtodiscussideasandsuggesHonswithtrainersandotherparHcipants.

The key reason for integraHng e‐content elements in the curriculum is amethodologicalone. Inorder toopHmisethe learningprocessandsuccessfullyconcludetheBTPtrainingprogramme, self study and self moHvaHon is as important as the parHcipaHon in groupmeeHngsorconsulHngsessions.EquallyvaluableasthepresencemeeHngs,alsoe‐learningelements, available throughout the training programme, are essenHal for providing aconHnuous sourceofmaterialwhichenables theparHcipants toworkon their individualsuccessionplanortosimplydeepentheirknowledgeonnewlylearnedcontents.ItisalsotheonlywaytoprovidepartsofthepossibiliHestothosewhocannotparHcipateingroupmeeHngs.InaddiHonthenecessityofe–contentelementsstemsfromtheconstraintsintermsofHmeandmobilityastrainingprogrammesarenotlimitlessintheiravailableresources.Forthesetworeasons,onemethodologicalandtheotherpracHcal,BTPemploysablendedlearningapproachinwhichthemainelementisfacetofacetraining,whichcaneasilybesupplementedbyaddiHonalonlinematerialdependingontheparHcipants‘needsandwishes.

The primary goal of the BTP project was the development of a tailor‐made training forsuccessorsandtransferorscombinedwithatechnicalaid,theonlineScreeningTool.Twotrialrunswerecarriedout,oneinGraz/AustriaandoneinVicenza/Italytotestthecurriculumtrans‐naHonallyandtogetthenecessaryinformaHonforthefinalset‐upofthetrainingonEuropeanlevel.

Asabusinesssuccessionmeansadeepcutintothewholestructureofthebusiness,legalquesHons (succession, labour, and corporaHon law), liability, tax‐based, and personalquesHons are raised.According to research acHviHesof theproject consorHum,businesssuccessions/transfersveryo2entakeplacemuchtoohasHly,andtheconsequenceshavenotbeenreflectedsufficiently.FurthermoreithastobemenHonedthatabusinesstake‐overismorecomplexcomparedtoabusinessfoundaHonbecauseofanalreadyexisHngbusinessstructure with employees, extant technical infrastructure, necessary modernisaHon andrecapitalisaHonmeasures,andavarietyofexisHng legal relaHonships.ThereforedifferentquesHonsarerelevantforthetransferprocesscomparedwithbusinessstart‐ups,andthedevelopedtraininghastobedelimitedfromalreadyexisHngtrainingsforstart‐ups.

ThetrialtrainingcontributedtoanidealpreparaHonofthebusinesssuccessionprocessandhelpedtobalancetheexisHnglackofknowledgeconcerningbusinesssuccession/transfer.It combinedbusiness economic know‐how (legal aspects, taxaHon) so‐called “hard facts”withsocialaspectslikecommunicaHonandnegoHaHonskillsso‐called“so2facts”becauseboth,hardfactsandso2facts,arethebasisforasolidenterpriseleadership.ThetrainingwasadjustedtotheconcretesituaHonofbusinesssuccessorsandspecialisedknowledgefortheupcomingbusinesshand‐overtake‐overwasimparted.

Thetrainingwasbasedonthefollowingmodules,whichwerethesameinGrazandVicenzabutwereadaptedtoregionalornaHonalcondiHonsorframeworkcondiHons:

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LegalaspectsBusinessanalysisMarkeHngSo2skillsHumanresourcemanagement

Thepilot trainingwas carriedoutatboth locaHonsasa comprehensivemodernblendedlearningconceptandintegratedthefollowingmethods:

FacetofacetrainingAsagreedwiththepartnerinVicenza,fivepresenceblockswereplannedandcarriedouttoimpartthemaincontentsofthebasicmodules.Withinthepresencedays,predefinedwork tasksandpracHceexamplesweresolved together. Learningmaterialas scripts,check‐lists,casestudies,andtransferplansupportedthepresenceblocks.

E‐learningAddiHonallytothepresenceblocks,e‐learningwasusedasasupplementarystudying/teachingmethodandallowedthecourseparHcipantstoworkonthetrainingcontentsontheirownindependentlyofthelocaHon.AlreadyimpartedknowledgeinthepresenceblockscouldberepeatedandpracHced.

ProjectorientedworkinsimulaHonsundertheuseoftheScreeningToolAddiHonally to the training, an online tool was developed that allowed the courseparHcipantstosimulatetheirownfollow‐upsituaHonseveralHmes.ParHcipantsworkedoutpossibleconceptsfortheirbusinesssuccession, fromabestcasetoaworstcasescenariobasedontheirownexperiences,theimpartedknowledgebythelecturer,selfstudy,andexperienceexchange/discussionwithothercourseparHcipants.

LearningplaxormInthepartnermeeHng inVicenza, the implementaHonofa learningplaxormontheBTP websiten was agreed on. The installed plaxorm complemented the presenceblocksand supported furthernetworkingof theparHcipants.Two learningplaxormsweresetup:oneforGrazandoneforVicenzabecausethetrainingswereheldinthenaHonallanguages.Eachplaxormwasdividedintothreeparts:first,adiscussionforum

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forparHcipants,trainers,projectmembers,secondlyanareaforFAQ’s,and,thirdly,arestricteddownloadareaforthetrainingmaterial.

WorkingindependentlyinpeergroupsbetweenthemodulesThecourseparHcipantswereinvitedtoorganisethemselvesinpeergroupsbetweenthemodulestoexerciseandapplythetheoreHcalknowledgetosupportteamworkaswellasthesocialcompetenceoftheparHcipantsthroughfurthergroupwork.

Supportthroughanexternalsuccession/transferexpertDuringthewholetraining,theparHcipantswereaccompaniedbyasuccessionexpertthroughpersonalmeeHngsande‐coaching.Theexpertheldtheintroductorysession,theinterims,andclosingfeedbackandsupportedtheparHcipantsintheestablishmentoftheirtransferplanandintheuseoftheScreeningTool.

SummingupthecombinaHonof thedifferent learninganddidacHcalmethodsduringthecourseperiodofferedthebusinesssuccessorsanewandinnovaHvetrainingaspreparaHonforthesuccessionprocess.

DetailsofthePilotTraininginGrazThetrainingwasdividedintofivepresenceblocksforwhichthedateswerealreadyfixedinthepartnermeeHnginVicenzainOctober2007andlastedfromFebruaryunHlJune2008.ThetrainingsinGrazandVicenzawerecarriedoutonea2ertheothertoexchangeexperiencesbetweenthedifferentcountriesduringthetwotrialruns.ThetrainingwasfreeofchargeforthecourseparHcipantsbecausetheprojectwasfundedbytheEuropeanCommission.InordertofindenoughparHcipantsinourtargetgroupandtargetsectors,thepromoHonofthetrainingwasveryextensiveThefirstblockhadtobeshi2edfromthebeginningofFebruaryunHltheendofFebruarybecauseoftoofewparHcipants.A2ervariouspress releases in localnewspapers,personal contact tocolleagues fromthestart‐upprogramme,arHcles in theemployers‘newspaperof theChamberofCommerce,announcingofthetrainingonthebit‐websiteandwebsitesofinsHtuHonsclosetostart‐upsandsuccessors/transferors (amongothersFollowme,GründerInnenzentrum, IFUB…),andthesupportofthetrainingstaff,finally20peopleappliedforthepilottraininginGraz.

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IntroductorySessionThetrainingstartedwiththeintroducHonsessionon29ofFebruary2008andwasopenedbytheprojectcontractorbitmanagement(ThomasWychodil,AndreaLang,andManuelaOrtner‐Arch)andtheprojectpartnersFHJoanneum(ThomasSchmalzer)andUBIT/ChamberofCommerce(DIHeinzMichalitsch).TheprojectbackgroundandobjecHveswereintroducedaswellastheupcomingtrainingandtheScreeningTool. A2erwardstheexternalexpert,BirgitMayerconHnuedtointroducetheexternalaccompanyingprocessforthewholepilottraining especially the personal and e‐coaching, the addiHonal support for the businesstransferplan,andtheScreeningTool.

The following chart shows theHme schedule and thedivisionofmodules/topics, for thetraininginGrazandVicenza:

Module Presence

Units

E‐Learning Self‐Study Establishment

transfer‐plan/

Selfstudies

total

INTRODUTION 2

1 LEGAL 8 4

2 FINANCE 8 8 12

3 ANALYSIS 12 5

4 MARKETING 12 4 10

5 SOFTSKILLS 10 2 8

6 HUMANRESOURCES 8 2

60 20 35 10 125

ModuleFinanceThismodulewasinstructedbyWoflgangEgi,aselfemployedtrainerforcontrolling,finance,andplanningandanexpertonrevitalisaHonmeasures.Becauseof longstandingpracHcalexperiencesasaninstructoratuniversiHesandhavingbelongedtothemanagementboardofanAustriancompanyformorethantenyears,hecouldbringinmuchknowledgetothetopicfinanceandhadmuchadviceforthecourseparHcipants.

ModuleLegalAspectsJoachimJanezic,aself‐employedlawyer,instructedthismodule.HehadvariouspublicaHonsincludingone on the topic of business succession. As amember and foundermember invariousnaHonalandinternaHonallawyers’officesandhisexperienceswithhisowncompany,hecouldgiveveryusefuladvicetothecourseparHcipantsrelatedtopracHceandsmallandmediumsizedcompanies.

ModuleAnalysisGregorReautschnigisataxconsultantandaninstructoratuniversityandimpartedpracHcalorientedknowledgeonthetopicofcompanyevaluaHonandduediligenceandenabledtheparHcipants; addiHonal to theScreeningTool and thebenchmarkdatabase; to carryouta company’squick checkwithfivemanagement raHos. This is the training’s coremodulebecause the evaluaHon process delivers necessary informaHon, to find out if an exisHngcompanyisworthtakingover.

ModuleMarke,ngMichaelaJentlistheproductmanagerinabiginternaHonalcompanyinAustriaandaselfemployed trainer for markeHng‐controlling, strategy development, communicaHon, andtrainings forstart‐ups.She inspiredthecourseparHcipants throughherglobalknowledgebecauseofherinternaHonalexperiences.

ModuleSoTSkillsPetraPulstwasrecommendedbyourGermanpartner,BWF,andisanexpertonso2skillsandstart‐upconsultaHon.WorkingtogetherwithherwasveryanextremelyposiHveexperiencebecause she brought in new aspects and many pracHcal examples for the parHcipantsconcerningcommunicaHonandleadershipskills.

ModuleHumanResourcesManuela Mätzener is a self employed expert in business succession and has wriCen aextensivepublicaHonontransfer/successionwithinfamilybusiness.Hermainfocusliesonthesystemicapproach,andshe integratedthisapproachveryprofessionallyduring theselessons,andtheparHcipantssawtheimportanceofthewholecompanyasasystemandhowthedifferentpartsofacompanyarecombined.ShealsoofferedherwidenetworkforthepromoHonofthetraininginthewholeofAustria.

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AtbothlocaHons,GrazandVicenza,thecourseparHcipantsbenefitedfromawellbalancednaHonal and internaHonal trainer team that brought in addiHonal knowledge,manynewaspects,andpercepHonsforbusinesssuccessorsandcontributedtothecompensaHonofexisHnglacksofknowledgeonthistopic.

InterimFeedbackThisfeedbacksessionwascarriedoutinthethirdpresenceblockatthebeginningofApril2008 moderated by the external expert for business succession/transfer, Birgit Mayer.Shemoderatedthe interimfeedbacksessionandsummarisedthefeedbackofthecourseparHcipantsconcerningthepresencemodulessofar,theinstructors,theorganisaHon,theuseoftheScreeningToolandlearningplaxorm,theprogressofthecourseparHcipantswiththeir own transfer plan, the saHsfacHonwith the external coaching, and the experienceexchangebetweentheparHcipants.

The interim feedbackcontributed to theassessmentand the furtherdevelopmentof thetraining and showed that the parHcipantswere very saHsfiedwith the training, the highqualityof trainers, trainingcontentand theaddiHonal tools,ScreeningTool,and learningplaxorm.AtthatHmethetechnicaltoolswereusedtoadifferentextentbytheparHcipants,because of a lack of Hme. All the parHcipants were employed either in the transferredcompanyorinanothercompanyandplannedtheparHcipaHoninthepresenceblockswheretheyhaddirectcontacttotrainersandcouldasktheirquesHons,andtheremainingHme,whentheretheyhadHmele2becauseoftheirjobinvolvements,wasusedforthetools,selfstudy,andtheirowntransferplan.

Key‐noteSpeechbyHeinzMichalitschHeinz Michalitsch is a self employed management consultant and the chairman of theAssociaHonofManagementConsultants (UBIT)/ChamberofCommerce.Thissession tookplaceattheendofthethirdblockandwasaveryopensessionforfurtherquesHonsanddo’sanddon’tsinthebusinesstransferprocess.HeinzMichalitschbroughtinhisownexperienceasabusinesssuccessorforthetakeoverofadrivingschoolwithinthefamilyandhislonglasHngexperienceasmanagementconsultantamongstotherthingsfortheconsultaHonoftransferredcompanies.

ClosingFeedbackThissessiontookplaceattheendofthelastpresencecoursedayandwasmoderatedagainbyourexternalexpert,BirgitMayer.All thecourseparHcipantsreportedabouttheirownexperiencesduringthecourseandwhatshouldbeobtainedandchangedconcerningthetraining,trainingstaff,content,proporHonofpresence/e‐learning/selfstudy,ScreeningTool,andlearningplaxorm.IngeneralparHcipantswereverysaHsfiedwiththisnewtraining,andtheposiHvefeedbackconfirmedtheconsorHums’worksofarandthatitwasontherighttrack.

Cer,fica,onAwardBirgitMayermoderatedthiseventbecauseshehadaccompaniedthewholetrainingasanexternal expert andusedhernetwork for thepromoHonof this event and the invitaHonof representaHves of economy and poliHcs. The project contractor, bit management(ThomasWychodil,AndreaLangandManuelaOrtner‐Arch)openedthecerHficaHonawardbypresenHngtheprojectbackground.TheFHJOANNEUM(ThomasSchmalzerandRupertBeinhauer) then informed the parHcipants about the background for its parHcipaHon onthis project. Furthermore, the representaHves of UBIT/Chamber of Commerce (HeinzMichalitsch, Werner Lämmerer) presented the moHvaHon of their parHcipaHon on thisproject.A2erwardstherepresentaHvesoftheprovincialandfederalgovernmentheldakeynote speechabout their relaHonshipwith the topic business succession/transfer and theimportanceofmaintainingtheseenterprisesforthewholeeconomy.ManfredWegscheiderrepresentedthegovernorasamemberoftheprovincialgovernmentandJohannKoroschetzrepresentedthelocalmayorasmunicipalcouncillor.BarbaraEibingeristhepresidentoftheJungeWirtscha2,afederalcouncillor,andafuturebusinesssuccessorwithinthefamily.ShemenHonedthenecessityofmeasuresforbusinesssuccessorsinAustriaandcomplimentedthecontribuHonoftheprojectconsorHumtoraiseawarenessonthetopicbusinesssuccessionandtodeliverconcretemeasureslikethetrainingandScreeningToolasanaddiHonalhelpforbusinesssuccessors.

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A2erthekeynotespeeches, thecourseparHcipantswere introducedandthecerHficateswereawardedbyManfredWegscheider,BarbaraEibingerandbitmanagementteam.ThecerHficaHonawardwasverysuccessful,andpressreleasesinvariousmediafollowed,suchasinManagerMagazinandDerStandard.Likethewholeproject,thiseventcontributedtomakepeopleawareofthetopicofbusinesssuccessionatlocal,naHonal,andinternaHonallevels. The main BTP objecHve was to develop an effecHve training instrument able to help

entrepreneursindealingwithseveralimplicaHonsrelatedwithbusinesstransfer.Thepilottraining’schallengewastodesignexperimentaltrainingtoolswhich,ifsuccessful,couldbespreadandadoptedallovertheEUstatesfacilitaHngcompanies’handovergovernance.Thetargetgroupswerefamilymembers,MBOs(employeeswillingtotakeoveracompany)andMBIs(externalpersonswillingtotakeoveracompany).

AfirstphasewasdedicatedtocollectquanHtaHveandqualitaHvedatathatcouldleadtoabeCerunderstandingofthe issue’smainfeatures:asampleofsmallenterprisesfromthenorth‐eastregionofItalywerecontactedandinterviewedinordertorecognisetheiractualneedsconcerningbusinesstransfer.

A2erthatitwasdecidedfocusontwobasicaspects:On‐linetool–called“ScreeningTool”‐abletohelpthesuccessors’self‐assessment.ItcouldletthemesHmatetheirownandtheir‐actualorfuture‐businesspreparaHonrelated toapotenHal (imminentor just future)businesshandover. It shouldalsobeusefulforpossiblebuyersasameanstomeasurethedevelopmentpotenHaliHesofacompanytotakeover;Designingan innovaHve trainingpath– called “EuropeanCurriculum forSuccessors“– with all the partner support, aimed to teach the knowledge, skills, and abiliHesnecessaryforbusinesssuccessors.

ThepilottrainingwascarriedoutatthesameHmeinGraz/Austria(bit)andVicenza/Italy(StudioCentroVeneto‐SCV).Thetwocoursesfollowedthesameprogramme,inaccordancewiththetraining‐planwhichwassetuptogetherduringthepartnermeeHnginVicenzainOctober2007includingthebasiccontentsandobjecHvesofthecurriculumaswellasafirstblocks’calendarandadra2ofthetrainers/expertsinvolvedinthetrainingsessions.

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ItisimportanttonotethattherewasaconHnuousexchangebetweenbitandSCVforthewholeduraHonoftheprojecttoshareideasandexperienceswhichleadtoagoodandusefulproduct.ThespecificcontentswereadaptedtothelocalsituaHonandneeds.

ThecourseprogrammewasdevelopedwithinthescopeofaLeonardodaVinciProgrammefundedbytheEuropeanCommissionand,therefore,thetrainingprogrammeitselfwasfreeofchargefortheparHcipants.AccordingtoatypicalVeneHan(butmaybealsoEuropean)aPtude,“freeiniHaHves”havesomeHmesunexpectedimplicaHons,linkedtoqualityfeelingormoHvaHon.Whenthebusinesstransferissue’scomplexityisconsidered,itisnotdifficulttounderstandthatfindingparHcipantswasnotsoeasy:thus,amarkeHngmixapproachwasneededinordertoadverHsetheprogramme.InthecaseoftheVicenzapilottraining,differentchannelswerejointlyused,namelydirectmail,personalcontacts(i.e.peoplemetthankstoothereventsandprojects),promoHonalacHons through the Italian supporHngpartnerVicenzaCra2sAssociaHon,an introducHonarHclepublishedinaspecificentrepreneurialperiodical,andatargetedadverHsementinthelocalnewspaper.ThelaCerwasareallysuccessfulstrategyasitletSCVcollectsixsubscripHons,mostofwhichwereinvolvenotinafamilysuccessionbutinapotenHalbuyout).

For theVicenzapilot training18people registered.Unfortunately, twoof themwithdrewbecauseofbusinessengagements.Sothecoursehadfinally16actualparHcipants. ItwaspossibletodisHnguishtwomaintargetgroups:thefirstwascomposedof11familybusinesssuccessors, and the second one was consHtuted of five managers/employees willing toconHnueanexisHngcompany.

InmanagingtheVicenzapilottraining,SCVhadadoubleroleasprojectcoordinatorandasexperts.SCVstaffmembers(ToniBrunelloandPaoloZaramella)wereexpertsonbusinesstransfer. So theywere involvedbothas trainers’assessorsandasassessed trainers: it letthem follow thecoursedevelopment froma specialpointof view.The teamwaschosentaking into account the European dimension of the whole programme. Experts comingfromthelocalandregionalnetworkaswellastrans‐naHonaltrainerscomingfrompartnerscountries,namelyRomaniaandTurkey,wereincludedintheteam.

ThetrainingcoursewasheldwithinthefollowingoperaHve‐plan,foratotalduraHonoffourmonths,fromthemiddleofFebruaryunHlthemiddleofJune2008:

Star,ngDay.ToniBrunelloandPaoloZaramellaledthisintroducHonmeeHngwiththespecificpurposetoinvolveparHcipants,toacquaintthemwitheachother,andtobuildanopenclimatewithinthe group. They also tried to find out which expectaHons andwhichmain difficulHes indealingwiththetransferprocesstheparHcipantshad.

TheModulesComposingtheBTPCurriculum.

1.FinanceThis training session was led by Alin Ivan, a consultant and trainer coming from theconsorHum(SVASTA,Romania).ThankstohisbasicknowledgeofItalian,andsomeHmestothesimultaneousinterpreHng,thesessionwasreallysuccessful.ParHcipantsappreciatedtheinternaHonalscopeofthismeeHng,makingclearthathavingtrans‐naHonaltrainerscouldbeanimportantaddedvaluetothewholecourse.“I’vebeenposiHvely surprisedby the interest thatmy topicshave raised. Theyarequitetechnical,sousuallytheyarenoteasilyappreciatedbythewideaudience.ParHcipantsgetsoon involved in the proposed exercitaHons and they have quickly imagined innovaHvemarkeHngpaths.”IvanAlin,expertconsultant/trainer,SVASTA–Romania.

2.MarkeHngMarco EvangelisH, an Italian consultant with a wide experience of the Turkish market,led this module. He was suggested to StudioCentroVeneto by the BTP‘s Turkish partnerCRM ConsulHng. He showed strong competence in the markeHng field as well as goodcommunicaHon skills. StarHng from his consolidated consulHng experiences (amongsthisclientsit ispossibletofindreallypresHgiousfirms),hewasabletogivealotofusefulsuggesHons o2en focused on specific cases raised directly from parHcipants. Thanks toseveral inputs provided,most of the aCendants cameout from thesemarkeHng trainingsessionswithnewideastoimprovetheirownbusinessdevelopmentstrategy.

3.InterimCheckToni Brunello and Paolo Zaramella managed the interim meeHng, necessary to set upandadaptthetrainingcoursecontents.Theygotthefirstfeed‐backfromtheparHcipantsconcerninginterests,challenges,andproblems.TheyalsopresentedthebasicstructureofthetwosupporHngtools:ScreeningTool(+Benchmarkdata)andthelearningplaxorm.The

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toolsareveryuseful,andallowtheuserstointegratethelearningpathwithon‐linematerials(arHcles,books,comments,and links).ThebasicScreeningToolcreateda“virtualcircuit”in theparHcipants,whostarted to thinkaboutandmeasurewhenpossible, thedifferentaspectsthatarefacingofinabusinesstransferprocess.ThebenchmarkdataseemstobeveryeffecHveforthepotenHalbuyersofanexisHngcompany:theyareabletocheckthedifferentaspectsofthecompanyandtakethedecisionofbuyingornot.A2erthisblockthetrainerswereabletocontactthefollowingexperts(DalLin,Barausse,andPadovan)withamoredetailedprogrammeaswellaswithsomefreshandusefulfeed‐backs.

4.LegalAspectsInthiscasethetrainerwasFerruccioDalLin,an Italianbusinessconsultantandexpert inreporHng,whohasworkedwithmicroandsmallcompaniessince1980.FerruccioDalLinstartedwith a complex topic, namelyhow to guarantee a good transfer in termof fiscalandlegalcosts/liabiliHesand,atthesameHme,ensureagoodtransfer.Thankstohiswideexperience,hepresentedamodel,asortofmatrixwith fourdifferentgoals:guaranteeahappyoldness to the transferor/seller;equity inside the family/partnership; conHnuityofthebusiness,andfewcosts.FerruccioDalLindeclared,atthebeginningofthelesson,that“eachcaseisaspecificandunique case”, in term of complexity, needs, and soluHons/tools. In the Italian legislaHonthereisabigadvantage:someHmestherearetoomanytools/lawsforsolvingthebusinesstransferproblems.Inotherwords,itisveryimportanttoreceiveprofessionalsupportfromanexternalexpertandtoconsiderthespecificneedsofeachentrepreneur.

5.So2SkillsLuisaBarausseledthismodule.Sheisanexpertconsultant,partnerofSTAFF,whichisaprivatecompanyfocusedontrainingandresearch.Duringhertrainingsessions,shedealtwithcrucialtopics,suchascommunicaHonskillsandHmemanagement,fromaninteresHngperspecHve.ShewasabletomakeparHcipantsthinkabouttheirlifeprioriHesand,consequently,assignthemostcorrectvaluetoeachofthem.Atthisoccasionitwasalsopossiblefortheaudiencetoexpresssingleneedsandrequirements,findingusefulanswersandoperaHveguidelines.

6.HumanResourcesThe leading trainer of this meeHng was Elena Padovan, a freelance consultant with abackgroundinpsychology.HersessionwasfocusedonthebestwaytobuildaproducHve

relaHonship amongst the owner, his/her employees, and collaborators. ParHcipantsdiscoveredanewaPtudetovalorisepeopleandtogetthebestfromtheirwork.SinceElenaPadovanisanexpertalso in thebusinesstransferfield,shealso introducedtheBusinessTransferPlansupposedtobefilled inbyeachparHcipantasfinalpartof theBTPtrainingpath.

ClosingDay.ToniBrunelloandPaoloZaramellaledthisfinalsessioninordertocollectalltheparHcipants’transferplansandtoassessthewholetrainingprogramme.ItwastheoccasiontoexchangestrategiesandfuturedevelopmentambiHons:ausefulmomenttoconfrontthenextstepseachfuturesuccessorwouldwishtoperform.

AllthesemeeHngswereassessedbytheaCendantswiththeprojectevaluaHonform.TheoutstandingevaluaHonresultsshowedhowmuchtheparHcipantsappreciatedthemodulesandhowgoodthetrainingsessionswereinhelpingthemdesigntheirownfutureacHons.Thebasic targetof thecourse foreseeingpotenHal successors’demandsandcovering,asmuchaspossible,thelackofknowledgeonfuncHonalmaCerswassuccessfullyreached.InsomecasesthesingletrainingsessionwasthestartofamorefocusedrelaHonshipbetweenaparHcipantandatrainerwithexperHseonaparHcularissueleadingtoevenmoreconcretesoluHonsandresults.

Theuseof innovaHveand funcHonal tools, the learningplaxormand theScreeningTool,provedtobeveryuseful.Thelearningplaxormprovided:

An easy and fastmeans to get all coursematerials used during the sessions. Papercopieswere always provided, but nowadays it can bemore comfortable to have anonlineversion,whichisavailablewheneverneeded.Anetworkinginstrument,forparHcipantstobeabletoeasilygetintouchwithotherparHcipants through its forumsecHon. It servedand sHll servesasavirtualmeeHngpointtospeakaboutbusinesstransferissues,exchangingpointsofviewandexperienceaswellasquesHonsandanswers.Thanks to its benchmarking approach, the Screening Tool hasbeen veryuseful, too.Crucialaspectsoftheenterprise’smanagementareidenHfied;eachonewithanaveragestandardscore(calculatedwithinthesinglemarketbranch)supposedto indicatethecompany’sstatusonthatspecificpoint.ItwasusefulnotonlyasaproperposiHoning

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instrument,butalsoasanactualexerciseable to“force”parHcipants to thinkaboutall thatdifferentaspectsasawhole. Itwasnotsoeasytofindbenchmarkdata,but,thankstothesupporHngpartnerVicenzaCra2sAssociaHon,benchmarkdatawasfinallyavailable. The involvementof theVicenzaCra2sAssociaHonwas reinforcedwith theparHcipaHon of its Young Entrepreneurs secHon in some programme meeHngs. ItspresidentaswellassomemanagersgavetheirowncontribuHon,alsoensuring theirpossiblesupporta2ertheproject,ifnecessary.

“Wehavewelcomed this ini9a9veveryenthusias9cally. Fromsomeyears,asYoungCraJEntrepreneurs,wearefollowingtheBusinessTransferissue:itisaverydelicatemaOerbut,ifwellmanaged,canalsoleadtonewdevelopmentopportuni9es.”AndreaNardello,PresidentofCra2AssociaHon’sYoungEntrepreneurs.

TheoverallimpressionisthattheapproachadoptedhasbeenveryeffecHveasparHcipants’feedbackseemstoconfirm.Beginningfromtheirconcreteexperiences, itwaspossibletostartanacHvecircuitoflearningandteaching,inwhichalltheparHesinvolvedcontributedtomaking thecourseausefulandsuccessfulexperience.ThecoordinaHng teamwas thepointofreferenceforparHcipants.Theywerecontactedabouttwiceamonththroughcalls,emails,aswellasdirectandone‐to‐onemeeHngs.TherelaHonshipbuiltinthiswaywasthestrongestpointoftheprogrammeastheparHcipants’enthusiasmproves.A2erthisfirsttrial,thepilottrainingcansurelybeimproved,butitisdefinitelytobehopedthatitwillnotstopwiththeofficialdeadlineoftheBTPProject.Itiscommonopinionamongallthepartnerstotrytoworktogetheragain,tovalorisetheobtainedresults,togivethemconHnuityandtoimprovetheminotherprojects.

TheobjecHveofthissecHonistoprovidestaHsHcalevidenceonhowindustrialsectorandcountrymould the successors‘ and transferors‘ percepHons of the importance of certainskillsandknowledgeforabusiness transferprocess.Theaimof thissecHon is toprovideaddiHonal informaHon todesign the screening tool according to theneedsofbusinesseslocatedinEurope.First a brief account of the study is presented. It follows the general proposiHon to thisenquiry.Thenthedesignofthestudyanditsmethodologyarepresented.InthissecHonadetailedexplanaHonofthestaHsHcalapproachselectedforthisanalysisisdiscussed.Theresultsarepresented,starHngwiththesampleanddatacollecHon.TheresultsoftheinstrumentvalidaHonandmodeltestarediscussed.AconcludingremarkispresentedattheendofthissecHon.

Inordertoexploretheappropriatecontentforthescreeningtoolinvariouscountriesandacrossdifferent industrial sectors,a studywas required.Thesevencountries selected forthis project are Austria, Germany, Denmark, Italy, Turkey, Romania, and Spain. In thesecountriestherearehistorical,religious,educaHonal,andpoliHcalfactorsthataredecisiveincausingculturaldifferencesbetweenthem.Therefore,thescreeningtoolshouldbeadaptedaccordingtothedifferencespresentinthesecountries.Wewillassesthemagnitudeanddetailoftheindustrialsector‘seffectonthesuccessors‘andtransferors‘percepHonsoftheimportanceandvalueofcertainskillsandknowledgeforasuccessfulbusiness transferprocess.ThispercepHonwillbeevaluatedacross thesevencountriesinvolvedinthisproject.ThisanalysiswillbedevelopedbyintegraHngcountryandindustrialsectorastwoindependentvariables.

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NaHonalcultureintermsofthecountrywherethebusinesstransferprocesstakesplacewillmoderatetherelaHonbetweenindustrialsectorandtheknowledge,skills,andcompetencesthatascreeningtoolshouldhave.NaHonalcultureandthedifferentindustrialsectorswillinteracttopredictthecontentofthescreeningtoolforthesuccessorsandtransferors.ThisresearchaCemptstofindoutwhattypeofknowledge,skill,andcompetenceswillhavetobeeffecHvelyintegratedinatrainingprogrammeunderdifferentindustrialsectors‘andnaHonalsePngs‘condiHons.

InordertotestthegeneralproposiHon,itisnecessarytoanalysethecountryandindustrialsector together. The outcome of this analysis could help to understand the importance,difficulty,valuableknowledgeandskillsinthehand&take‐overprocessesfordevisingthedifferentcontentsofascreeningtoolforbusinesstransferpurposes.

AquesHonnairewasdesignedbytheBTPconsorHuminordertoexploreaboutsuccessors‘andtransferors‘beliefsoftheknowledgeandskillsneededforthebusinesstransferprocessindifferentcountriesandindustrialsector.ThequesHonnairewasdevelopedforresearchonissuesrelevantforbusinesstransferinEuropeancountries.TheconstructofthequesHonnairewasdesignedtomeasurethesuccessors‘andtransferors‘percepHonsbasedonafour‐pointLikertscaleinthefollowingterms:A)Importance1:Veryimportantto4:Notimportant,B)Difficulty,1:Verydifficultto4:Notdifficult,C)Valuable,1:Veryvaluableto4:NotValuable,andD)Agreement,1:Stronglyagreeto4:Stronglydisagree.AquesHonnairewasdesignedforthesuccessorsandtransferorswhosharedbetweenthemthesameskillsandcapabiliHes.Yet,theintenHonistoexplorethepercepHonofthebusinesstransferprocessforbothsides,thesuccessorsandtransferors.TherelaHonshipbetweenthesuccessorsandtransferorsinthetake‐overprocessintermsofknowledge,skills,andbelievesofthecontentofsuitabletrainingprogrammeandasetofdemographicvariablesofthetargetgroupwereinvesHgated.Thedemographicvariablesselected for invesHgaHonwereage, gender, level of educaHon, and country.AddiHonally,companyinformaHonwasalsoinvesHgatedintermsoflegalform,size(numberofemployees),targetmarket,andindustrialsector.

The quesHonnaire for the successors‘ sample asked for general informaHon about thetake‐overprocess in termsof type for successors,howhe/she found the transferor,Hmeforthetransferprocess,andreasonsfortakingoverthefirm. Intermsofthetransferors’quesHonnaireversion,differentquesHonswereaskedinrelaHontothehand‐overprocessintermsofthestageofthebusinesstransfer,addressedsuccessor,waystofindasuccessor,typeofbusinesstransfermostappealing,Hmeforthetransferprocess,reasonsforhandingover the business, plans for the conHnuity of the firm,ways to learn about the transferprocess,andopinionofexternalfactorsthatmightaffectthetransferprocess.

ThequesHonnairewasdesignedinEnglishwithconsideraHonofitsfuturetranslaHonintotheofficiallanguagesofthesevencountriesinvolvedinthisresearch.QuesHonnairetesHngwasconducted toensure that thequesHonnairedesigned for thecross‐naHonal researchprojectwouldaccomplishitsobjecHve.

Inordertodecreasethemarginoferrorwhencomparingthesamples,sevenindependentdatabasesforsuccessorsandtransferorswerecreatedbasedonlocaHon(twodatabasesforeachofthesevencountries)andindustrialsector(manufacturing,retail/wholesale,tourism,and services). The industrial sectors were broken down into the sub‐sectors presentedearlier.Differentsourceswereconsultedineachcountryinordertocompilethesample.IngeneraltermstheKOMPASSdatabaseandtheChamberofCommerceassociatedlistwereconsulted.

BetweenMarch andMay 2007 an online and offline versions of the quesHonnaire wasadministrated.Thefinal sampleconsistsofa totalof340successorsand317 transferors,usable quesHonnaires from the seven countries represented in the consorHum. A papera pencil version of the quesHonnaire was also done betweenMarch and April 2007. Itreceived228successors‘responsesand223transferors‘responses.Tables1to3presentthedemographicresultsforthesuccessors‘andtransferors‘samples.

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AprincipalcomponentanalysiswithavarimaxrotaHonwasdevelopedtogroupthedifferentknowledge, skills, and content of the screening tool dependent variables into differentfactors.TheReliabilityCoefficienttest–AlphaCronbachwascalculatedintheobtainedfactorinordertotestitsreliability.EachofthevariableswhichintegratedtheresulHngfactorshascommunaliHes higher than 0.45 and loading factors higher than 0.5. The factors presentanAlpha>than0.5.TheAlphaswerenotcalculatedforthefactorsthatpresentonlytwoitems.Fiveclustersoffactorswereobtainedforthesuccessors:1) Importantstepswithinthetake‐overprocess,2)DifficulHesinthetake‐overprocess,3)Valuableofknowledgeandskillsinthetake‐overprocess,4)Valuableofknowledgeandcompetencesforthebusiness’conHnuity, and5)Contentof the screening tool. Sixteen factors integrate theseobtainedclusters,(pleaserefertoTables4to6forthedetails).ThefactoranalysisforthetransferorquesHonnaire presents six clusters: 1) Important steps within the hand‐over process, 2)DifficulHesinthehand‐overprocess,3)Valuableofknowledgeandskills inthehand‐overprocess,4)Valuableofknowledgeandcompetencesthatasuccessorshouldhaveforthebusiness’ conHnuity,5)Knowledgeandskills that successors shouldhave,and6)Contentofthescreeningtool.Seventeenfactors integratetheseobtainedclusters (pleaserefertoTables4to6forthedetails).

Successors: Sixteen univariate analyses of variance tests (ANOVA) were conducted toexamine themaineffectof countryand industrial sectoron the sixteen factors.Table10suggeststhatthereisaninteracHonbetweencountryandindustrialsectorforthefollowingfactors:TechnicalKnowledge,CommunicaHonSkills, LegislaHonknowledge,Contactothersuccessors,Financialknowledge,Commercialknowledge,Firm’ssectorknowledge,Businessworthand,Finance(p<0.05).TheresultspartlysupportsthenoHonthatthereisadifferenceintheimportance,difficulty,andvaluableknowledgeandskillswithinthetake‐overprocessbetweenmanufacturing,retail/wholesale,tourismandservicesbusiness.Wefurtherexplorethisresultbyanalysingtheglobalimpactofindustrialsectorindependentvariableonsixteenfactors.Table7showsthattheindustrialsectorvariablepresentsahighlysignificantstaHsHcaldifference(*p<0.05) inthefollowingfactor:FinancialKnowledge.Thisresultsignifiesthattheindustrialsectormouldsthevaluableknowledgeandskillswithinthetake‐overprocess.Inordertoexaminewhichindustrialsectorpresentsmeandifference,aposthoctestwasappliedtothesuccessors’sample.Thisprocedurewasdevelopedforthefactortakingallthe

cases for thesevencountries.Table4showsthatsuccessors inmanufacturingbusinessestendtoratelowertheimportanceofthefinancialcompetencewithinthetake‐overprocessthanthesuccessorsinretail/wholesales,tourism,andservicesbusiness(*p<0.05).

WefurtherexploretheinteracHonbetweenindustrialsectorandcountrybyanalysingtheglobal impactofthecountry independentvariableonthesixteenfactors.Table10showsthatthecountryvariablepresentsahighlysignificantstaHsHcaldifference(*p<0.05) inallthefactorsexceptforthefactorlaw.Thisresultsignifiesthatcountryshapesthevaluableknowledge and skills within the take‐over process. This result implies that the relaHonbetweentheindustrialsectorsandtheimportance,difficulty,andvaluableknowledgeandskillswithin the take‐over processwill bemoderatedby the countrywhere thebusinessoperates.Inordertoexaminewhichcountrypresentsmeandifference;aposthoctestwasappliedtothesuccessors’sample.Tables12‐20presenttheresults.

Transferors: Seventeenunivariate analyses of variance tests (ANOVA)were conducted toexamine themaineffectof countryand industrial sectoron the seventeen factors. Table10 suggests that there is an interacHon between country and industrial sector for theManagementandSuccessors’ Sales Skills factors (p<0.05). These results indicate that theimpactof the industrial sectoron the two factors isnot thesame in thesevencountries(Austria, Germany, Denmark, Italy, Turkey, Romania, and Spain). In here the staHsHcalevidencepresentsdifferenttransferors’approachestotheimportance,difficulty,andvalueofcertainknowledgeandskillsinthesevencountries.

Thisresultsignifiestheimportance,difficulty,andvaluableknowledgeandskillswithinthehand‐overprocessbetweenmanufacturing,retail/wholesale,tourismandservicesbusiness(pleaseseeTable3).Table8showsthattransferorsinmanufacturingbusinessestendtoratelowerthanretail/wholesalesandservicesbusinessesthevaluableofsuccessors’salesskillsasacapabilitythattheyshouldhave(*p<0.05).

Table 9 shows that transferors in manufacturing businesses tend to rate lower thanretail/wholesales the importance to include law aspects in the screening tool (*p<0.05).AddiHonally,transferorsintheretail/wholesalesbusinesstendtoratehigherthantourisminthisrespect.Table7showsthattheindustrialsectorvariablepresentsahighlysignificantstaHsHcaldifference(*p<0.05)inthefollowingfactors:contactkeyplayer,successors’sales

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skillsandlaw.Theseresultssignifythattheindustrialsectormouldsthevaluableknowledgeandskillswithinthehand‐overprocess.

Theseresultsindicatethattheimpactoftheindustrialsectorontheninefactorsisnotthesameinthesevencountries(Austria,Germany,Denmark,Italy,Turkey,Romania,andSpain).InherethestaHsHcalevidencepresentsdifferentsuccessors’approachestotheimportance,difficulty,andvalueofcertainknowledgeandskillsinthesevencountries.

The primary purpose of this chapter is to provide staHsHcal evidence on themagnitudeanddetailof the industrial sectorandcountryeffectson the successors‘and transferors‘percepHonsof the importanceand valueof certain skills and knowledge for a successfulbusinesstransferprocess.Theempiricalanalysisconsistedofaskingthesametypeoftraining,skills,andknowledgetypeofquesHonstothetwogroups(successorsandtransferors),anda2er controlling the industrial sector and country, comparing the extent to which theirpercepHonwerebothdifferentandtosomeextentsimilar.

WhilethestaHsHcalresultsofthisstudyprovideinsightintotheperceivedimpactofcertainskillsandknowledgeonthesuccessfulbusinesstransferprocess,theydonotallowaccurateconclusionstobedrawnregardingtheextenttowhichthesefactorsarekeyelementsfora“successful”businesstransferprocess.ThetentaHveinterpretaHonofthequanHtaHvedatapresentedsuggeststhatculturalandotherenvironmentalfactorsaremajordeterminantsofcertainknowledge,skills,andcompetencestobeincludedinthescreeningtool.Theresultspresented in this chapter encourage further study of the impact of industrial sector andcountryinthedesignofatrainingtoolforbusinesslocatedinEurope.

From the transferors‘/successors‘ side, everything is important, there is only a slightdifferencebetween the topics. The consorHumhas todecide if thedifferencesbasedonstaHsHcaldataarebigenoughtoberegardedinthedivisionofhoursorif,basedontheirexpertknowledgetheconsorHummembersdecidethemselveswherethemainemphasisshouldbe.TheagreementoftheconsorHumisthatthestaHsHcaldataisnotbigenoughtoberegardedandthatthedivisionofhoursismadeaccordingtotheirexpertknowledge.

OneofthechallengesofthissecHonistocommunicateeffecHvelytopracHHonersthefindingsdiscussedhereandtheirimplicaHonsforsuccessors‘andtransferors‘day‐to‐daychallengesintheirfirms.Atthemacro‐level,thissecHondrawsaCenHonofsuccessorsandtransferorsto potenHal and actual advantages of the naHonal context within the business transferprocess takes place. It also enhances the business owners’ awareness of the significantroleof the industrial sector that shapes the typeof skills and knowledge the transferorsand successors shoulddevelop inorder to succeed in thebusiness transferprocess. ThisawarenessmighthelptransferorstounderstandtheirroleinthebusinesstransferprocessbeCeranddeviseappropriatemeansofhandlingitsdiversityatthemicro‐level.Forexample,itwouldbepointlesstodeviselawcoursesforthebusinesstransferprocessontheEuropeanlevel,giventhediversityofthedifferent legislaHonsacrossEurope.BasedonthefindingsandtheirinterpretaHon,itseemsthatthetrainingtoolsshouldbedevisedaccordingtothecontextualfactorswherethefirmsoperate.Afirm’sindustrialsectorandthenaHonalcultureinwhichitoperatesappeartohaveastrongereffectonthecontentofthescreeningtoolwhicheventuallyfacilitatesthebusinesstransferprocess.

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FortheevaluaHonofthecurriculumweconsideredthreemainphases:1)markeHngofthetrainingcourse;2)thecourseandthefeed‐back(forsingleblocksandthegeneralevaluaHon);3)conclusionofthecourseandhypothesisforthefuture.

First of all, we underline that in the Italian market, and perhaps also on the Austrianmarket,therearemanycoursessimilartotheBTPpilot.Thesecoursesarefocusedon“newentrepreneurs”:most of them are targeted at sons or daughtersworking or planning toworkinthefamilybusiness.Moreover,somecoursesarefocusedonstart‐ups,arenormallyorganisedbypublicbodies,i.e.ChambersofCommerce,andoffersomefinancialaid,suchasspecialloans.ThepotenHalBTPparHcipanthastoconsidertheconcreteaddedvalueofthepilot.ItisofutmostimportancetounderlinethedifferencebetweentheBTPcourseandothersimilarcourses.EveryhourofacHveparHcipaHonintermsofpresenceHmehastobeconsideredwellbecauseallparHcipantsusuallyworkintheirownbusinessorinacompanyasemployees/managers.

CommentsfromtheparHcipants:all parHcipants asked for more Hme for the “face to face” meeHngs: the subjects,especiallyfinanceandfiscal/law,werecomplex,solongerlessonswouldbewelcome;to support the lessons beCer, more basic material should be available before themeeHngs(morepreliminaryreadingmaterial)someHmes a more pracHcal approach would be useful; more case histories, moreexamplesorexercises(i.e.forfinanceblock);beforethelessonsitwouldbeusefultocheckandrefreshthebasicknow‐hownecessarytounderstandthecontentsthetrainerisgoingtouse;

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most of the contents and approaches have been well appreciated because theparHcipantsfoundtheminnovaHveandnew.BeforeaCendingtheBTPcourse,theydidnotconsidermanykeyaspectsoftheirowntransfer.

Commentsfromtheexpertsandtrainers:thegroupofparHcipantsshowedhighmoHvaHon;thisaPtudepermiCedeasierwork;someofthetrainersandexpertsaskedifitwaspossibletosplittheparHcipantsintotwogroups(familybusinesssuccessorsandpotenHalconHnuators);duetothedifferenttargetgroups(i.e.speakingaboutfinance,theneedsarecompletelydifferentforanexternalpersonwhowouldliketotakeoveranexisHngcompanyfromthoseofadaughterorsonthinkingaboutasuccessioninsidethefamilybusiness)partsofthecourseswerenotusefulforsomeparHcipants.;abasiccheckbeforethelessons/blockswouldbeuseful,notonlyforfiPngthecontents,butalsofortheparHcipantstoassesstheirlevelofknowledge;apersonalisedand short interviewa2erorbeforeeach lesson couldbe considered,especiallyifthenumberofparHcipantsisnotveryhigh(liketheBTPpilot);in fact,duetothepracHcalapproach,oneofthemainneedsexpressedbyfromtheparHcipantswas:“IwouldliketoreceivemorepracHcalinformaHonandpersonalisedsoluHonformysinglecase”.

Thankstothesecomments,thegeneralevaluaHoncouldbesummarizedasfollow:thewholepilotreceivedaveryhighscoreintermsofevaluaHon(moreorlessalltheresultsfrom4to5,withastrongconcentraHoninthehighestscore);ingeneralthecourseneedsmoreHme:somemaCerswereinteresHng,butthelessonswerequiteshort;manyparHcipantsaskedfordetailsconcerningthesingleblocksandformorematerials/documents,beforethelessons,usefultoapproachthesinglesubjects;the involvement and the pracHcal approach worked well: all the evaluaHon of theteachersandtheirskillswereverygoodorexcellent;the transfer plan was considered useful by each parHcipant especially because itpermiCed the parHcipants to think about the future in terms of competence, skills,necessityofaids,etc;alltheparHcipantssaid:“Iwillsuggestthecoursetoacolleagueortoanotherperson”.ThisanswershowsverywellthegoodresultandthecorrectcontentoftheBTPpilot.

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ConcerningthespecificcommentsoftheparHcipants,thetrainersandtheexpertsabouttheScreeningToolandbenchmarkdata,thesearethemainstatements:

ingeneral, the toolsworkwell,are innovaHve,andareagoodstarHngpoint for theparHcipants;someofthequesHonsinsidetheScreeningToolarenotclear,especiallyforthemicrocompanies,forsomespecificbranches,andtheItalian/VeneHansituaHon;thecalculaHonmodelofthesituaHon(spotlight:red,yellow,andgreen)shouldhavedifferentweights(itdependsontheimportanceofthemaCer);someoftherequesteddocumentsineachpartareo2ennotavailable,especiallyforthemicrocompaniesandforsomespecificbranches;atthesameHme,thewholequesHonnaireandtherequesteddocuments/datawereaveryeffecHvesHmulustoanalyseaspectsnormallyconsiderednotimportant;the pilot course increased the level of “entrepreneurial culture” in the parHcipaHngmicroorsmallorganisaHon(from2to25employees);benchmarkdatawasingeneralconsideredgood;itwouldbeusefultofindthedataforeachbranch,addingsomeotheraspectsconcerningthemarket(currentsituaHon,trends,etc.)andhumanresources.

Firstofall,wehavetoconsiderthatthepilotwasofferedfreeofcharge.InthefinalevaluaHonform,weaskedthepotenHalcostforafuturecourse: ingeneraltheparHcipantssaidthecourseshouldcostnomorethan1,000/1,500Euros.ThelevelofawarenessissHllnothigh,andthecompeHHonintheeducaHonalmarketisveryhigh.Agoodwaywouldbetomaintainastrong linkwiththe localTradeAssociaHontopromotethecourseanddisseminatetheresults.

Concerning the organisaHon of the courses (duraHon, Hme, locaHon, etc.), we have toconsiderthatalltheparHcipantsworkandarebusy,soaflexibleHmetable,extralessons,andeveningmeeHngswouldbewelcome.TheoriginalHmetable(Fridaya2ernoonandSaturday)workedwell.

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The target group of the training are adults and not students/young people. A pracHcalapproachwithaconHnuousexchangebetweentheparHcipantsandtheexperts/trainersisstronglypreferred.TheevaluaHonresultsunderlinethisfact.

Some basic knowledge concerning the company and the business relaHons are alreadyknown.Sothesingleteachercanrefreshverybrieflysomeaspectsandgodeeperonlyintothebasicnewtopics.ConcerningthecourseduraHon,wehavetorememberthattheoriginaldistribuHonwas:‐48%facetoface(inpresencemeeHngs);‐16%e‐learning/e‐consulHng(useofthelearningplaxorm,forum);‐36%selfstudy.TakingintoconsideraHonthefeed‐backfromtheparHcipantsaswellasfromtheexperts/trainers,wesuggestalongercoursewithatleastthe30/40%moreintermsofhours,plussomeshortwork‐shops(notcompulsory)forthetesHmonialsandforsomeextralessonsinsubjectsconsideredusefulbytheparHcipantsfortheirownsituaHon.

Anewversionofthe“EuropeanCurriculumforSuccessors”couldbedesignedasfollow:alongercourseoveralongerperiodofHme(i.e.asortofMaster‘sprogrammewithaduraHonofsixtoeightmonths)forworkingpeoplecouldbepromotedsuccessfullyintheeducaHonalmarket;lessonsalsointheevening(8‐11PM)tofacilitatetheparHcipaHon;Saturdayasadayfortrainingcouldbemaintained;afeeshouldbepaidforthenewcourse,butitshouldnotbeveryhigh:morespaceforthetesHmonials:formerentrepreneurswhosolvedtheirfamilybusinessprocesses;sonordaughterthattookoverthefamilybusiness;peoplewhoboughtanexternal company, or insHtuHons (i.e. chambers of commerce or trade associaHons)supporHngthissubject;etc.;morespacetothefinanceblock,especiallyconcerningfinancialaids;ageneralsupportforthematching(forboththesituaHon:successionofexternaltakeover)isconsideredwelcome;thematchingcannotbe“automaHc”,butageneral support in termof coachingandprofessionalaidisneeded;

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thissupporthastobeorganiseddifferently,forexample:for the family business, a transfer plan is welcome, and the course has toconcentratethelessonsinthe“so2skills”aspectsandtheleadership;for an external transfer, it is important to consider the financial aids, the rightevaluaHonofthepotenHalcompany,thewholebusinessplan,etc;

in general, the parHcipants asked for more scope for strategic aspects: again thedevelopmentofthesinglemarketandthenewinternalleadership;concerningthenonfamilybusinesstransfer:anewsurveyshowsthatallaroundEuropetherearetwiceasmanytransferorsastherearesellers;this means that for a potenHal conHnuator it might not be that difficult to find acompany.Theproblemistofindtherightcompanyintermsofstructure,potenHalityofthemarketand,aboveall,price/investment.

Finally,inafuturecourse,thetechnicalor“hardaspects”(legal/fiscal/finance,etc.)and“so2skills”(relaHons,training,management,etc.)havetobebalancedwell.Infact,bothaspectswere appreciated a lot during the BTP pilot, not only because the trainers‘ knowledge/experienceswasofahighlevel,butalsobecausethisapproachpermitsageneraloverviewofthecomplexityofbusinesstransferprocess.

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TheprojectconsorHum’smanyyearsofexperienceintheareaofstart‐upsandsuccession/transfer consultaHon togetherwith an intensive phase ofmarket research in the field ofbusiness succession showed a severe lack of training offers for business successors andtransferors.Easy‐to‐usetoolswerealsonotavailablethatwouldenableaniniHalcheckofanenterpriseanditseconomicaCracHvenesswithoutthesupportofanexternalconsultancy.

Withinthescopeofthe“BusinessTransferProgramme”and inaddiHontothetraining,aspecifictechnical instrument,theScreeningTool,wasdesignedtomeettherequirementsanddemandsofbusinesssuccessors,oftransferorsaswellasofself‐employedmanagementconsultants.TheScreeningToolprovidespotenHalsuccessors/transferorswithafirstbusinessanalysis,facilitaHngtheidenHficaHonprocessoffindingtherightbusinessandthecollecHonofimportantentrepreneurialinformaHon.A simulaHon of succession/follow‐up situaHons is possible and enables the formulaHonofvariousconcepts forbusinesssuccession (bestcase–worstcasescenarios)andallowsmethodical knowledge to beput intopracHce. Theprocess of succession canbeworkedthrough severalHmes,and thedifferent results canbecompared,e.g. the current statusofthetransferredcompanycomparedwiththestatusa2erobtainingaddiHonalsuccessionrelatedinformaHon.

ItshouldbemenHonedthattheScreeningToolisasupporttoolforthepreparaHonphasesofatransferprocessthatprovidesaddiHonalinformaHonforthedecisionmaking,butitisnotareplacementforexpertknowledge,likelawyersandtaxadvisers.

TheprojectconsorHumdecidedtodesignaveryflexibleandadaptableweb‐basedtoolthatisindependentformHmeandplaceandcanbeadaptedtotheneedsofsmallandmediumsizedenterprises.Itconsistsoftwomainparts:

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DetailedquesHoncatalogueincludingquesHonsonthegeneral,legal,finance,markeHng,humanresources,locaHon,andtechnicalinfrastructuresituaHonofthecompanyandBenchmarkdatabase:consisHngofavailablebenchmarksfortheindustry

In the first stage of development, the tool is available in three languages of the projectconsorHum,namelyinEnglish,German,andItalian,withEnglishbeingthebasisofthetool.AllquesHonswerefirstdesignedinEnglishandthentranslatedintootherlanguages.ThismeansthatanynecessarychangestothequesHonshavetobemadefirstinEnglishandthentranslatedintotheotherlanguages.AnextensiontootherlanguagesispossibleatanyHmedependingonthedecisionoftheprojectconsorHumastowhichaddiHonallanguagesshouldbeofferedandwhowillbearthetranslaHoncosts.

Thetoolhasbeendesignedforsixindustriesoftheproject’stargetsector(cra2andtrade):carpenters, locksmiths,mechanics, hairdressers, small restaurants & bars, and retail andcanbeexpandedeasily in future toother industries.AsalreadymenHoned, there isonemainquesHonnairewhichincludesquesHonsonvariouspartsofanenterprise.TheenHrequesHonnaireisavailableforeachindustry,andquesHonscanbeselectedorle2outdependingontheindustryandthecountry.Thesameappliestotheindustrybenchmarks.ThereisonemainbenchmarkcataloguethatwasdevelopedwithalltheconsorHummembersduringtheprojectinaccordancewithlocalChambersofCommerceorinsHtutesforSMEswhichcanbeadaptedtotheavailablebenchmarksintherespecHvecountryandindustry.Both, the quesHon catalogue and the benchmark data base of the Screening Tool, aredesignedtobeasflexibleaspossibleandcanbeextendedtofurtherindustriesandcountriesinfuture.

The chart 2 gives an overview of the main structure of the Screening Tool (languages,industries,quesHoncatalogue,andbenchmarkdatabase):

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TheScreeningToolisdesignedasaweb‐basedtoolandislocatedonthecommonprojectconsorHum’s plaxorm hCp://btp.bitonline.cc, which can be entered by the user with ausernameandpasswordobtainedthroughtheprojectcontractororapartnerinsHtuHon.

ThetechnicaldesignoftheScreeningTooloffersthefollowingtwomainopHons:1.Screening

a)CurrentScreeningOverviewb)ScreeningReports

2.BenchmarkDataBase

1.ScreeningThispartconsistsofsevencataloguesofquesHonsconcerningthefollowingbusinessareasofthecompanybeingtakenover:

SCREENINGTOOL

German ItalienEnglish

6Industries(expandableinfuture)

Carpenter Locksmith Mechanic Hairdresser SmallRestaurant Retail

Benchmarks

Legal

Finance

LocaHon

MarkeHng

HumanResources

TechnicalInfrastructure

QuesHonCatalogue

Assetsandliabilitystructure

Capitalstructure

Profit/lossstructure

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GeneralquesHonsLegalsituaHon/legalaspectsFinancialsituaHonMarkeHngLocaHonHumanresourcesTechnicalinfrastructure

A2er entering the tool, the language is selected first, then the country, and finally theindustry.Thenthescreeningiscarriedout.ThequesHonnaireforeachbusinessareaisthenansweredaccordingtothefollowingthreeansweropHons:

‡Yes,Ihavethedataandcaninterpretthem(e.g.Ihavethebalancesheetsofthelastthreeyears,andIcanusethisinformaHon–Iknowwhatitmeansforthecompanyclosetosuccession/transfer)‡ Yes,Ihavetherelevantdatabutcannotinterpretthem(e.g.Ihavethebalancesheetsofthelastthreeyears,butIdon’tunderstandthefiguresanddon’tknowwhatitmeansformytake‐overcompany)‡ No, Idon’thavetherelevantdata (e.g. Ieitherhavethebalancesheetsof the lastthreeyearsnorcanIusetheinformaHon)

TheuserhastogothrougheachpartindetailandselectoneofthethreeansweropHons.AttheboComofeachquesHon,documentsarelistedwhichdeliverimportantinformaHononthecompanybeingtakenoverandwhichsupportthedecisionmakingprocess.Theusershouldhaveanoverviewastowhichdocumentsarealreadyavailableandwhichthataremissing.Themoredocumentsareavailableandinterpretable,thebeCertheuserisinformedaboutthecompanybeingtakenover.

A2eransweringthesevenbusinessareas,theuserwillreceiveanoverviewofthecurrentinformaHonstatusof thecompany tobe transferred.Theoverviewsummarisesall sevenbusinessareas(general,financial,legal,markeHng,locaHon,humanresources,andtechnicalinfrastructure)andishighlightedinred,orange,orgreen,justlikeatrafficlightsystem:

Green:verywellinformedaboutthecompanyOrange: parHallywell informed, but there is a lack of informaHon in somebusinessareas

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Red:insufficientinformaHonaboutthecompany,andtheusershouldtrytogetmoreinformaHon

Itisadvisabletosavethefirstscreeningsothat,whenthescreeningiscarriedoutagain,theusercanstartanewroundandsaveitunderanewname(secondscreening).ThisallowsacomparisonbetweenthedifferentscreeningscenariostobemadewithviewsoftheoldandnewlevelsofinformaHon.

a.ScreeningOverview:TheusergetsanoverviewoftheresultsofthecompletedscreeningandthebusinessareasheorsheiswellinformedofaswellastheareasinwhichmoreinformaHonisnecessary

b.ScreeningReports:ThescreeningcanbecarriedoutseveralHmes,andeachreportcanbesaved,deleted,oredited.Thereportgivesanoverviewofthecompletedscreening,andacomparisonbetweenvariousscreeningsispossible(worst‐bestcase).2.BenchmarkDataBase:The benchmark tool is based on a benchmark data base including benchmarks availablein the project partner countries and for the selected industries. The data base has beendevelopedtobeasflexibleaspossibleandcanbeadaptedatanyHmetoothercountriesandindustries.Thebenchmarktoolallowstheusertocomparethecompany’sbenchmarkswiththeaveragebenchmarksoftheindustryasfarasaveragedataoftheindustryisavailable.Thisscreeningtool isorientedtowardsduediligenceanddesignedforthetargetsectorofthesmallest‐,small‐andmediumsizedbusinesses.Thetoolisdividedintothreesteps:first,theselecHonofthecountry,second,theselecHonof the industry, and, third, enteringof thebenchmarkdataof the companybeing taken‐over.Theformulasarelistedonthele2handside,anda2erthecalculaHontheresultsareenteredintothetool.Theenteredfigurescomeupinred/orange/green,andtheresultsareasfollows:

Green:TheenteredvalueisabovetheaverageoftheindustryOrange:TheenteredvalueisthesameastheaverageofyourindustryRed:Theenteredvalueisbelowtheaverageofyourindustry

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104 105

Finally, the listed results can be saved, and the benchmark tool can be completed. Theenteredfigureswillbeincludedintheaverage,and,thus,theaverageofthestatedindustriesisupdated.

To summarise, the Screening Tool supports the successor‘s self‐assessment, shows thecurrent informaHon statusof business take‐overs, provides anoverview to transferors astohowfarthetransferprocesshasprogressed,andsupportsbothinthedecisionmakingprocess.

ThissecHonwillgiveashortoverviewofthesuggestedtrainingmodulesanddescribethegoalsandcontentsofthemodules.Eachmodulecanbeseenasanintegratedstandalonelearningunitemployingtheblendedlearningmethod,which integratespresencepartsaswellasonlinecoursework,andself study.All coursemodulesexhibitapracHce‐orientedfocus.theblendedlearningmethodisfollowedinallmodules.ThefollowingsecHonswilloutlinethemodules,starHngwiththepresencepartsandpresenHngtheonlineandofflinematerialsused.Allmodulesaretailoredtothespecificneedsofthetargetgroup.

EachmoduledescripHonbelowisstructuredinawayverysimilartoasyllabus,whichwillenablethereadertocomparethemodulesoftheBTPmethodtootheralternaHvetrainingdesigns.ThisservestoincreasetransparencyandeffecHvenessintheorganisaHonofsucha programme.Modules are first described in a general secHon outlining basic goals andoutcomes of themodule. A clear amount of counselling/training hours is given for eachacHvityandforeachmoduleindicaHngthedistribuHonofhoursforpresenceande‐learning.ThegeneralaimsdepictedintheintroductorypartofeachmoduledescripHonarebrokendowntospecificobjecHvesindicaHngclearlythelearninggoalsofthemodule.BasedontheseobjecHves,ascheduleforthegroupmeeHngsincludingthedetailedcontentsofthemoduleispresented.ThemethodsusedthroughoutthecoursemodulearedescribedintegraHnge‐learning,andpresencelearningparts.

Each module requires the fulfilment of certain prerequisites, which are listed in itscorresponding secHon. Exemplary literature andweb links are given to provide a deeperinsight into eachmodule. Throughout the training programme, literature,web links, andonline material are available electronically (on the website) organised in the modularstructureofthecurriculumandwithinthemodules.

Themodulesare:

FINANCELEGALASPECTSBUSINESSANALYSIS

1.2.3.

MARKETINGSOFTSKILLSHUMANRESOUCEMANAGEMENT

4.5.6.

106 107

AsamaCeroffact,anymanagerialposiHonandconsequentlyalsothebusinesssuccessionprocessrequiresthoroughknowledgeinfinance.TheevaluaHonoftheresourcesnecessaryforgrowth,financialprevision,investmentdecisions,valuemanagement,andthefinancialmanagementofthecompanyincrisissituaHonsorduringatakeoverprocessalikeinvolveaninter‐funcHonalcooperaHon,acommonfinancialapproach,andaquanHficaHonofvalueonfinancialbasis.ThismoduleaimstofacilitatebusinesstransferbybuildingthenecessarycapabiliHestodealwithfinancialaspectsofsuccession.

ParHcipantswill be familiarisedwith thefinancial aspects tobe considered in abusinesstakeoverprocessandwill learntounderstandaccounHngtocommunicateandimplementnecessary financial controls and plans as part of their management role. Managers willlearnaboutthebehaviourofcostsandexpensesandthereasonswhythecontrolprocessis essenHal to successandwill understand that theeconomicsofbusiness is essenHal toprofitabilityandgrowth.

Thismoduleshouldconsistofatleastatotalof21hoursdividedinto12hoursofface‐to‐facelearning–presenceHme,3hoursfore‐learningand6hoursofself‐study–essay/projectwork.

ThespecificobjecHvesofthismoduleare:

A2ercompleHonofthemodule,parHcipantswillbeabletoapplytheirknowledgeintopracHcetofindanappropriatebusiness.ParHcipantswill understand and use financial accounts,management accounts, andfinancial management techniques to successfully valuate, takeover, and managebusinesses.ParHcipantswillknowthemainfinancialsourcesandfundingsystemsandrecapitalisaHonmeasures.

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Time Day1 Time Day2

0.5h IntroducHon 0.5hSummaryofthecontentofDay1,QuesHons

1.5h

CapitalResourcesFinancialSources:Ownvs.ForeignSources;Internalvs.externalSources

1.5hInvestmentPlanningDynamicandstaHcMethods

Break Break

1.5hCostcalcula,onCalculaHonofthemarketpriceCalculaHonmethods,Liquidity

2h

BasicFinancialConcepts:BalanceSheetProfit&LossAccountMethodstocalculatetheprofit

Break Break

0.5hQuesHons&AnswersCaseStudyPresentaHonforSelf‐study

2hMethodsofFinancing,FinancialRestructuringandFundingSystemsMicroCredits,VentureCapital

Break

1.5hControllingOverview,Tasks,Benchmarking

0.5h QuesHonsandConclusions

Total4h Total8hTable1:FinanceforSuccessors‐Face‐to‐faceContent

108 109

The coursemodulewill uHlise a combinaHon of learningmethods including groupwork,discussions, case studies, short assignments, self‐study, and face‐to‐face lectures. Theuseofa learningplaxormviaaddiHonalmaterialandonlinecontent isofferedisstronglyrecommended.ContentsofthismoduleshouldbeappliedespeciallytopracHcalplanningandtotheworkonthefinaltransferplan,includingrecurringdo’sanddon’tssessions,whichshouldtakeintoaccounttheconcretesuccessionplansoftheparHcipants.InordertoopHmisethelearningprocess and successfully conclude themodule, self‐study using thematerials provided isessenHal. Learninggroupscanbe formed face to faceorvirtually,and thepresencedaysserve as possibiliHes to answer quesHons and discuss the content of the module withother course parHcipants and the instructors. Preliminary and follow‐up readings aswellaspossibleelectronic resourcesare strongly recommendedpartsof the course contents.ThegoalofcombiningmethodsistomovetoandfrombetweentheoreHcalconceptsandpracHcalapplicaHonsinordertocreaterelevancefortheparHcipants.

ParHcipaHoninthismodulerequiresparHcipantstohavebasicknowledgeofaccountancyandfinancialmanagement.

Pre‐assessment:ItisstronglyrecommendedtodiscussthelevelofpriorknowledgewiththeparHcipantsusingaforumoremailstogetageneralimpressionofthelevelofknowledgeoftheparHcipantsgroup.

Finalassessment:To prove that parHcipants have understood the presence contents and achieved the e‐learningunits,parHcipantsshouldwriteanessayonatopicsetbythetrainer(e.g.cashflowforecastelaboraHon,evaluaHonofcompanies).

Itisrecommendedtolistpreliminaryandfollow‐upliteraturebasedontherecommendaHonofthetrainer.ThefollowingisanexampleforaworkshopinGerman:

Preliminary:Preissler,P.R.(2007).Controlling.LehrbuchundIntensivkurs.13Auflage.München:Oldenburg.Pernsteiner,H.,Andessner,R.(2007).Finanzmanagementkompakt.2Aufflage,Wien:Linde.Kralicek,P.(1995).KennzahlenfürGeschä2sführer.3.Auflage.Wien:Überreuter.Milichamp,A.H.(1992).FinanceforNon‐FinancialManagers.AnAcHve‐LearningApproach,London:DPPublicaHonsLtd.

Follow‐upOwen,J.(2003).Hard–coremanagement:revealingtheunwriCenrules.London:KoganPage.ACCAUK(2006).StrategicFinancialManagement,HandbookforFinalExaminaHon.London:ACCAUK.Wöhe,G.,Bilstein,J.(1991).GrundzügederUnternehmensfinanzierung.München:Vahlen.Haberstock,L.(1987).Kostenrechnung.8Auflage,Hamburg:Schmidt.Pernsteiner,H.,AndessnerR.(2007).Finanzmanagementkompakt.2Auflage.Wien:Linde.

It is recommended to list web links based on the recommendaHon of the trainer. Thefollowingisanexample:CogentValuaHon:www.cogentvaluaHon.comInvestopedia:www.investopedia.com

110 111

Business successionhas,among themany relatedaspects for successfulexecuHonof thebusinesstransferprocess,alsoastrongrelaHontolegalaspects.Mostimportantlyissuesofcorporatelaw,inheritancelegislaHon,liabilityregulaHons,labourlawissues,andtaxlawareintegralpartsof thismodule.ParHcipantswillget themost important informaHononthecurrentlegalsituaHonwithrespecttotheaspectsmenHonedaboveandwilllearnhowtosearch independently for furtherdetailed informaHon.Throughmixed teachingmethods,the contentwill be presented as such that parHcipantswith liCle or noprior knowledgeabouttheselegalaspectswillgetaprofoundinsightintothepixallsandopportuniHeswithinthe legal framework governing business succession. Certainly legal aspects differ in eachmembercountryoftheEuropeanUnion.Thisisalsotrueforthoseareaswithanimpactonthebusinesstransferprocess.Thereforealocalisedversionofcontentsisnecessaryforthismodule.

Thismoduleshouldconsistofatleastatotalof16hoursdividedinto10hoursofface‐to‐facelearning–presenceHme,2hoursfore‐learningand4hoursofself‐study–essay/projectwork.

Inordertoaccountforcomplexissuesrelatedtothelegalaspectsofbusinesssuccession,parHcipantswillhavetogainknowledgeinthedifferentareasoflawgoverningthetransferprocess.Asespeciallysmalltomedium‐sizedenterprisesandtheirbusinessoperaHonscanbe seenashighly interdependent systems, it is imperaHve toequipparHcipantswith thenecessaryknowledge,skills,andabiliHes(KSAs)toactwithinthelegalworldandbeabletoleadqualifieddiscussionswithlegalexperts.ThismoduledevelopsexactlytheseKSAs.ThespecificobjecHvesofthismoduleare:

ParHcipantsunderstandthelawofcorporaHonsandpartnershipsandwillgettoknowtheconceptoflimitedliability.ParHcipantswilllearnaboutthecharacterisHcsofeffecHveandlegallysoundbusinesscooperaHon.ParHcipantswill knowhowtomakewillsanddonaHonswhilebeingawareofwhich

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mandatorylegalprovisionsinfavouroffamilymembershavetobetakenintoaccount.ParHcipants will be knowledgeable about issues of liability (i.e. debt of company –transfertobusinesssuccessor;liabilityforunknownresponsibiliHes).ParHcipants will become aware of the legal norms protecHng employees in case ofbusinesstransfer.ParHcipantswillknowwhattotakeintoaccountintermsoftaxlegislaHon,suchastaxongi2sandinheritance,legalfees,ortaxoftransferofownershiponrealestate,amongothers.ParHcipantswillbeabletoavoidlegalpixallsinthesuccessionprocess.ParHcipants will understand the importance of qualificaHons in internaHonalconsulHng.ParHcipantswillbeabletoapplytheirlegalknowledgetopracHcalsuccessioncases,todeveloptheirownrecommendaHonsorstrategies,andtoaddressthespecificneedsofEuropeanSMEs.

Time Day1 Time Day2

0.5h IntroducHon 0.5hSummaryofthecontentofDay1,QuesHons

1h CorporateLaw 2h LabourLaw

Break Break

1hLawofInheritanceandRelatedIssues

1h TaxesandLegalFees

Break Break

1hContractLawandBusinessTransfer

1h LiabilityRegulaHons

Break Break

0.5h QuesHonsandConclusion 1hDo’sandDon’tsfortheTransfer/SuccessionPlan

0.5h QuesHonsandConclusion

Total4h Total6hTable2:LegalAspectsofBusinessSuccession‐Face‐to‐faceContent

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112 113

The coursemodulewill uHlise a combinaHon of learningmethods including groupwork,discussions, case studies, short assignments, self‐study, and face‐to‐face lectures. Theuseofa learningplaxormviaaddiHonalmaterialandonlinecontent isofferedisstronglyrecommended.ContentsofthismoduleshouldbeappliedespeciallytopracHcalplanningandtotheworkonthefinaltransferplan,includingrecurringdo’sanddon’tssessions,whichshouldtakeintoaccounttheconcretesuccessionplansoftheparHcipants.InordertoopHmisethelearningprocess and successfully conclude themodule, self‐study using thematerials provided isessenHal. Learninggroupscanbe formed face to faceorvirtually,and thepresencedaysserve as possibiliHes to answer quesHons and discuss the content of the module withother course parHcipants and the instructors. Preliminary and follow‐up readings aswellaspossibleelectronic resourcesare strongly recommendedpartsof the course contents.ThegoalofcombiningmethodsistomovetoandfrombetweentheoreHcalconceptsandpracHcalapplicaHonsinordertocreaterelevancefortheparHcipants.

ParHcipaHon in thismodule requires parHcipants to have a basic knowledge of or somepracHcalexperienceinthebusinesssuccessionprocessandaboutthegenerallegalsystemintheircountry.

Pre‐assessment:ItisstronglyrecommendedtodiscussthelevelofpriorknowledgewiththeparHcipantsusingaforumoremailstogetageneralimpressionofthelevelofknowledgeoftheparHcipants.Finalassessment:ShortassignmentsandinclassparHcipaHontogetherwiththefinaltransferplanwillbethebasisforassessmentoftheparHcipant‘sknowledge.

Itisrecommendedtolistpreliminaryandfollow‐upliteraturebasedontherecommendaHonofthetrainer.ThefollowingisanexampleforaworkshopinGerman:

PreliminaryandFollow‐upReadings:BucherJ.(1997).UnternehmensübergangundAltlasten.Wien:ecolex.Karollus,M.(1995).UnternehmerwechselundDauerschuldverhältnis,ÖsterreichischeJuristenzeitung1995,241‐248,292‐296.Wagnest,W.(1997).DieHa2ungbeiÜbergangeinesUnternehmensoderBetriebes.Wien:VerlagdesÖGB.BydlinskiP.(2007).GrundzügedesPrivatrechts.Wien:Manz.Mader,P.(2008).Kapitalgesellscha2en.Wien:Orac.Schummer,G.(2006).Personengesellscha2en6.Auflage.Wien:Orac.

ItisrecommendedtolistweblinksbasedontherecommendaHonofthetrainer.

114 115

In any company certain criHcal factors, such as the shareholder value, the corporateenvironment, the locaHon, and the technical equipment, are of crucial importance to itssuccess.Forbusinesstransferprocesses,thesemaCersplayanevenmoreimportantroleasknowledgeaboutthesefactsmaybetacitorhiddenwithinthecompany.TheskillstoanalysethevaluesandpotenHalsfordevelopmentofthecompanytobetransferredareimperaHvetoasoundsuccession. If transfersdonottakeplacewithina familystructure,transferorstypicallytrytogetthemaximumprofitoutofthesaleofthecompany.Consequentlyit isveryimportantforsuccessorstogetarealisHcoverviewofandcertainknowhowabouttheenvironment(locaHon)andtechnicalequipmentandthevalueandpriceofacompany.ThismoduleprovidestheparHcipantwiththenecessarytoolstoundertakethisanalysis.

Thismoduleshouldconsistofatleastatotalof25hoursdividedinto13hoursofface‐to‐facelearning–presenceHme,4hoursfore‐learningand8hoursofself‐study–essay/projectwork.

ThismodulewillprovideparHcipantswiththenecessaryknowledge,skills,andabiliHeshowtoevaluatethecompanyanditsenvironmentaswellasthetechnicalequipment.Thismodulefurther develops the ability to apply this knowledgewithin the scopeof the transferringprocess.AveryimportantpartofthismodulewillbethedescripHonandtheinterpretaHonofeconomicoperaHngfigures.ThespecificobjecHvesofthismoduleare:

ParHcipantswillunderstandthebasicprinciplesofbusinessvaluaHonParHcipantswillknowabouttheimportanceoftheenvironmentalcondiHonsandthecurrentstateofthetechnicalequipmentandhowtoavoidpixalls.ParHcipantswillbeabletoapplytheirknowledgetopracHcaltakeovercases,toreadandunderstandofficialpapers,andtobecomeawareofpotenHalrisksthatcouldbehiddeninthetakenoverenterprise.ParHcipantswillgettoknowtheelementsofeconomicoperaHngfiguresandhowtointerpretthem.

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Time Day1 Time Day2

0,5h IntroducHon 0.5SummaryoftheContentofDay1,QuesHons

1,5h

ObjecHves,contentandprocedureofthebusinessanalysisandtherelaHonwithcontractualagreements

2h

BasicsoftheofcalucaHonoftheShareholderValue;

CashFlow,LiquidityEvaluaHonmethods

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Break Break

2,5h

Analysisoftheassetsandliabilitesstructureaswelloftheprofitstructure;

BasicslikeBalanceSheet,Profit&LossAccount,FinancialAnalysis,PastPerformanceAnalysis;ManagementraHos

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2h

AnalysisoftheassetsanditsimplicaHononthecompany’svalue

Investmentsandcurrentassets.Benchmarks

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Break

0,5h

QuesHon&AnswersCaseStudy,taskforselfstudyandpreparaHonforpracHcalassignment

1,5hAnalysisofthecostandprofitstructure

0,5h QuesHonsandConclusion

Break

1,5h PracHcalAssignment

Total5h Total8hTable3:BusinessAnalysis‐Face‐to‐faceContent

116 117

The coursemodulewill uHlise a combinaHon of learningmethods including groupwork,discussions,casestudies,shortassignments,self‐study,andface‐to‐face lectures.TheuseofalearningplaxormviawhichaddiHonalmaterialandonlinecontentisofferedisstronglyrecommended.ContentsofthismoduleshouldbeappliedespeciallytopracHcalplanningandtotheworkonthefinaltransferplan,includingrecurringdo’sanddon’tssessions,whichshouldtakeintoaccounttheconcretesuccessionplansoftheparHcipants.InordertoopHmisethelearningprocess and successfully conclude themodule, self‐study using thematerials provided isessenHal. Learninggroupscanbe formed face to faceorvirtually,and thepresencedaysserve as possibiliHes to answer quesHons and discuss the content of the module withother course parHcipants and the instructors. Preliminary and follow‐up readings aswellaspossibleelectronic resourcesare strongly recommendedpartsof the course contents.ThegoalofcombiningmethodsistomovetoandfrombetweentheoreHcalconceptsandpracHcalapplicaHonsinordertocreaterelevancefortheparHcipants.

ParHcipantsshouldhavebasicknowledgeoftheenvironmentalsituaHonandthetechnicalequipmentofthetakenovercompany.

Thismoduleintegratesthecontentsofthecompletecourse.Thereisnospecificassessmentforthismodulealone.Themodulewillbeassessedonthebasisofthefinaltransferplan,whichistobeestablishedbyeveryparHcipant.

Itisrecommendedtolistpreliminaryandfollow‐upliteraturebasedontherecommendaHonofthetrainer.ThefollowingisanexampleforaworkshopinGerman:

Preliminary

Behringer,S.(2002).UnternehmensbewertungderMiCel‐undKleinbetriebe:betriebswirtscha2licheVerfahrensweisen2.,neubearb.underw.Aufl.Berlin:ErichSchmidt.

Matschke,M.J.Brösel,G.(2007):Unternehmensbewertung:FunkHonen,Methoden,Grundsätze‐3.,überarb.underw.Aufl.Wiesbaden:Gabler.KinkelS.(2004)ErfolgsfaktorStandortplanung:in‐undausländischeStandorterichHgbewerten.Berlin[u.a.]:Springer.Bruns,K.(1997).AnalyseundBeurteilungvonEntsorgungslogisHksystemen.Ökonomische,ökologischeu.gesellscha2licheAspekte.Wiesbaden:DeutscherUniv.‐Verl.Jauk,A.(2006).DasGrundbuchinderPraxis:dasABCderGrundbuchseintragungen.Wien:Orac.

Follow‐up

AugusHn,K.,Gumpetsberger,A.,Haltrich,W.,Herzog,B.(2005).Betriebsnachfolge–perfektgeregelt.Graz:dbv‐VerlagDomschke,W.,DrexlA.(1996).LogisHk,Bd.3,Standorte.München:Oldenbourg.Zobl,D.(2004).Grundbuchrecht‐2.,erg.undnachgeführteAufl.Zürich:Schulthess.Schoppler,M.(2007).StandortwahlfürkleineundmiClereHandelsunternehmen:dargestelltamBeispielderBlueTomatoGmbH.Haeseler,H.R.(2007).Unternehmensbewertung:GrundlagenderBewertungvonUnternehmenundBeteiligungen.Wien:Orac.

ItisrecommendedtolistwebLinksbasedontherecommendaHonofthetrainer.Thefollowingisanexample:

English:www.sba.gov/idc/groups/public/documents/sba_homepage/pub_fm4.pdfGerman:www.univie.ac.at/bwl/iev/lehre/ss06/zusatz_2.pdfwww08.mg.hs‐niederreihn.de/dozenten/krause/Elemente/KennzahlenT2.pdfwww.kore‐virtuell.at/joanneum/Lehreinheit%20Einf%81hrung%20VBM.pdfwww.mdi.at/fileadmin/mdi/download/controlling/woerterbuch.pdfwww.realfinanz.at/produkte/Grundbuch.pdfwww.kwr.at/kwr/pdf/RechtsHpp0701.pdf

118 119

Businessestodayarefacedwiththegrowingneedtoadoptnewapproachestowardswinningthemarket.ThechallengeistoofferamixthatproducesthenecessaryclientsaHsfacHonaswellasasaHsfactorycompany‐marketexchangerelaHonshipbearing inmindthattoday’sclientsorcustomersarelookingforsoluHonsandnotproducts.InthismoduleparHcipantswilltakeacloserlookattheconceptsofstrategicmarkeHngasthebasisofplanning.Forasuccessfulbusinesstransfer,itisimperaHvetobefamiliarwiththedifferentcomponentsofthemarkeHngmixasoperaHngtoolsforcompanies.ThishelpstodifferenHateacompanyfromitscompeHHoninsuchawayastobeperceivedclearlybythemarket.

Thismoduleconsistsofatotalof21unitsdivided into13unitsof face‐to‐face learning–presenceHme‐and4unitsfore‐learning.Besides,thiscourseneedsanesHmatedamountof6hoursforselfstudy

ImplemenHngthechangeprocessofbusinesstransferandmaintainingorexpandingmarketpresence, customer saHsfacHon, and sales is crucial to successful business succession. Toequip parHcipants with the necessary tools to actually be able to run and manage thisprocesswithrespecttoallmarkeHngrelatedissuesisthekeyobjecHvetothismodule.InparHcularparHcipantswilllearn:

TheimportanceofthemarkeHngstrategyinthebusinesssuccessionprocessThe4PsofthemarkeHngmix(Product,Price,PromoHon,andPlacement)MarkeHnganalysisusingstateofthearttechniquesHowtoapplytheacquiredknowledgetotheirparHcularpracHcalcaseandothercases

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Time Day1 Time Day2

0.5h IntroducHon 0.5hSummaryoftheContentofDay1,QuesHons

2h

MarkeHngBasicsandthecompany

MarkeHngTaskTheEnvironmentInternalAnalysisSWOTAnalysis

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2h

MarkeHnginthe21stCentury.Presentvision.

MarkeHnganintegratedbusinessphilosophyCommercialresearchMarketPosiHoning

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2hTheCompanyandtheclient

PrinciplesoftheCompanyCustomerSaHsfacHon

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MarkeHnginthe21stCentury.PresentVision.

SpecificOfferPromoHonalCommunicaHonPostsalesRelaHons

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Break

3hTransformaHonofthetheoreHcalknowledgeintopracHce–workonhis/hercompany

0.5h QuesHonsandConclusions 0.5h QuesHonsandConclusions

Total5h Total8hTable4:Marke9ng‐Face‐to‐faceContent

The coursemodulewill uHlise a combinaHon of learningmethods including groupwork,discussions, case studies, short assignments, self‐study, and face‐to‐face lectures. Theuseofa learningplaxormviaaddiHonalmaterialandonlinecontent isofferedisstronglyrecommended.ContentsofthismoduleshouldbeappliedespeciallytopracHcalplanningandtotheworkonthefinaltransferplan,includingrecurringdo’sanddon’tssessions,whichshouldtakeinto

120 121

accounttheconcretesuccessionplansoftheparHcipants.InordertoopHmisethelearningprocess and successfully conclude themodule, self‐study using thematerials provided isessenHal. Learninggroupscanbe formed face to faceorvirtually,and thepresencedaysserve as possibiliHes to answer quesHons and discuss the content of the module withother course parHcipants and the instructors. Preliminary and follow‐up readings aswellaspossibleelectronic resourcesare strongly recommendedpartsof the course contents.ThegoalofcombiningmethodsistomovetoandfrombetweentheoreHcalconceptsandpracHcalapplicaHonsinordertocreaterelevancefortheparHcipants.

ParHcipants should have knowledge of the basic characterisHcs of the company to betransferred.

Small assignments and acHve class parHcipaHon will serve as one pillar for grading thismodule.InaddiHon,thetransferplanwillbepartoftheassessmentforthismodule.

PreliminaryandFollow‐upReadings

Lovelock,C.H.,WirtzJ.(2007).ServicesmarkeHng:people,technology,strategy.UpperSaddle(NJ):PrenHceHall.Cravens,D.W.,Piercy,N.(2006).StrategicmarkeHng.Boston:McGraw‐Hill.Kotler,P.,Armstrong,G.(2007):PrinciplesofmarkeHng.EnglewoodCliffs(NJ):PrenHce‐Hall.KotlerP.(2006).MarkeHngmanagement.UpperSaddleRiver(NJ):PearsonEducaHonInternaHonal.

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Businesstransferisacomplexprocess.ManagingsuchaprocessinvolvesboththetechnicalandtheemoHonalside.Bothmanagementknowledgeandtechniques,andso2skillsshouldbetrained.Analysesfromthelast10‐20yearshaveshownthatthesmallerthecompany,thehigher theemoHonal andpsychological impact. The challenge isparHcularlyhard forsuccessorsforseveralreasons.Thetransferorhasalreadylivedhis/herlifeandcareerandhasdevelopedamanagementstyle.Thisisnoteasytobechanged.Butthehandover‐animportantchangeframeworkitself‐requireschangeswithinandduringtheprocess.Businessflexibilityneedsadaptability.And since the transferor is generallynot in the condiHonofadapHnghim/herselforofeasilyaccepHngchange,itisuptothesuccessortocarrythemainweightoftheflexibilitychallenges.

AsbusinessleaderandrelaHonshipmanager,thesuccessorisaskedtoinvolvecollaboratorsandtopromotetheirmoHvaHontoconHnuousup‐to‐datemanagement,toinnovaHon,andtoeffecHvecompeHHveness.ThesuccessorshouldlearnandconHnuouslyimprovehis/heraPtudestomanagesmallgroupsandrelaHonshipwithindividuals.AsabusinessconHnuer,thesuccessormustbereadytounderstandhowthetransferormayfeelaboutthepersonwhoisnowgoingtomanagethebusiness.S/hemustbeskilledininvolvingandmoHvaHngallcollaboratorsinthebusinesschangeprocesses.

ThiscoursewillteachtheparHcipantshowtorecognise,toget,tomanage,andtoimprovesuchskills.

Thismoduleconsistsofatotalof16hoursdividedinto12hoursofface‐to‐facelearning,2hourse‐learningandapproximately2hoursself‐study.

In order to become more and more aware of mulH‐faced business transfer processes,parHcipantswilllearnasystemicapproachtothecompanyasahumanteam,engagedtobeprofessionalandcompeHHveinthemarket.EveryparHcipantisexpectedtogetpersonallyinvolvedinadialoguewiththetransferor,atleastwhilethetransferorissHllthere.Peopleinthecompany,andoutofit,shouldbeseenasindividualsinsteadoffigures.Thediscussionof

122 123

real‐lifecases,andsomeadviceandaddressesforexcursionsonthewebwillhelptoimprovethisaPtude.

ThespecificobjecHvesofthismoduleare:

ParHcipantswillunderstandtheirroleandtheexpectedbehaviourtowardspeople.They will start to recognise human psychology, behaviour, and reacHon in differentsituaHonsandroles.ParHcipantswillbecomeawareoftheimportanceofunderstandingtheirbusinessasaglobalpicture(vision)andasaspecific,compeHHveopportunityinthemarket(mission)tobepursuedbyacompactteam(values);Theywill learn about the importance of transferring such a vision andmission andvaluessensiHvityasanessenHalbasisforpeoplemoHvaHon.ParHcipantswillbecomeawareoftheimportanceoflisteningtothetransferor’sfeelingsandpointsofview,andwillbesensiHsedtowardstryingtounderstandandposiHvelymanagethem.ParHcipants will be able to apply their knowledge to concrete business transfersituaHons.

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Time Day1 Time Day2

0.5h IntroducHon 0.5hSummaryoftheContentofDay1,QuesHons

0.5hBusinessTransferSituaHons‐TheImportanceofSo2Skills

1h

TheSuccessorasaBusinessConHnuer:

UnderstandingandManagingtheConnecHonwiththeFormerBusinessVisionandMission

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1h

TheSuccessorasaBusinessLeader:

UnderstandingtheBusinessVisionandMissionintheScenarioandintheMarket

° 1,5h

DifferentKindsofRelaHonshipswiththePreviousBusinessManagementStyle.ConveyingthePersonalLeadingStyle.

Break Break

1h

TheSuccessorasaProfessionalRelaHonshipManager:

TheInnerSideInspiringCollaboratorsHowtoPracHceEmpowermenttowardsPeoplePracHcalExperience(SmallGroups)

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3h

DifferentKindsofSituaHonsConcerningtheRelaHonshipwithPreviousTransferors.CaseAnalysis(SmallGroups)

Break

0.5hProfessional Time Managementand DelegaHon. The Basic andWhatisNew

1.5h

TheSuccessorasaBusinessConHnuerontheMarket.ChangeManagement:InvolvingAllThoseInterestedintheTransferProcess

0.5h QuesHonsandConclusions 0.5h QuesHonsandConclusionsTotal4h Total8h

Table5:SoJSkills‐Face‐to‐faceContent

124 125

The coursemodulewill uHlise a combinaHon of learningmethods including groupwork,discussions, case studies, short assignments, self‐study, and face‐to‐face lectures. Theuseofa learningplaxormviaaddiHonalmaterialandonlinecontent isofferedisstronglyrecommended.ContentsofthismoduleshouldbeappliedespeciallytopracHcalplanningandtotheworkonthefinaltransferplan,includingrecurringdo’sanddon’tssessions,whichshouldtakeintoaccounttheconcretesuccessionplansoftheparHcipants.InordertoopHmisethelearningprocess and successfully conclude themodule, self‐study using thematerials provided isessenHal. Learninggroupscanbe formed face to faceorvirtually,and thepresencedaysserve as possibiliHes to answer quesHons and discuss the content of the module withother course parHcipants and the instructors. Preliminary and follow‐up readings aswellaspossibleelectronic resourcesare strongly recommendedpartsof the course contents.ThegoalofcombiningmethodsistomovetoandfrombetweentheoreHcalconceptsandpracHcalapplicaHonsinordertocreaterelevancefortheparHcipants.

ParHcipaHoninthismodulerequiresparHcipantstobemoHvatedtoleadabusinessandtohaveaminimumbasicknowledgeofbusinessmanagement.

Short assignments and discussionswill serve as one basis for course assessment. AcHveparHcipaHoninface‐to‐faceclassesaccountsfor60%ofthefinalgrade.

PreliminaryBarnesL.,HershonS.,1976,Transferringpowerinthefamilybusiness,HarvardBusinessReview,Juillet‐Août,105‐114BragardL.,VanCaillieD.,1994,AspectsstratégiquesethumainsdelatransmissiondesPeHtesetMoyennesEntreprisesfamiliales:résultatsd‘uneenquête,in„HéritageettransmissionintergénéraHonnelle“,Chapitre9(DeBoeckUniversité,Bruxelles)DonckelsR.,FrölichE.,1991,Arefamilybusinessesreallydifferent?EuropeanexperiencesfromSTRATOS,FamilyBusinessReview,2,149‐160

AA.VV.,Padriefigliinazienda:aspeCaHveaconfronto,Assolombarda,GruppoGiovaniIndustriali,1990GersickK.,DaviesJ.,HamptonM.andLandesbergI.,GeneraHontoGeneraHon‐lifecyclesoftheFamilyBusiness,HarvardBusinessSchoolPress,1997.MorrisM.,WilliamsR.,W.andNelD.,FactorsinfluencingFamilyBusinessSuccession,InternaHonalJournalofEntrepreneurialBehaviourandResearch,Vol2,No3,MCBUniv.Press1996.Jean‐MarcTARIANT,Pourreprendreuneenterprise,EdiHond’organisaHon2000ATELIERSTUDIOCENTROVENETO,ProgeCoRi‐lancio,RegioneVenetoassessoratoPMI,VicenzaOCobre2002ATELIERSTUDIOCENTROVENETO,RicercaAncorArHgiani,gesHreilpassaggiogenerazionaleall’internodelleimpreseArHgianeVeneziane,ConfarHgianatoVenezia,2002.BARNESL.B.‐HERSHONS.A.,TrasferringPowerinfamilyBusiness,in“HarwardEspansione”,20,1983.LEVINSONH.,Don‘tchooseyourownsuccessor,in„HarvardBusinessReview“,novembre‐dicembre1974.SONNENFELDJ.,Heroesincollision:ChiefexecuHvereHrementandtheparadeoffutureLeader,in“HumanResourcemanagement”,Summer,vol.XXV.

Follow‐upBAUERM.„Traimpresaefamiglia:trasmissioneesuccessionenellepiccoleemedieimprese“;NuovaItaliaScienHfica,Roma,1997BRUNELLOT.,PassaggiObbligaH,F.Angeli,Milano2003.GibbDyerW.Jr.,1986,Culturalchangeinfamilyfirms‐AnHcipaHngandmanagingbusinessandfamilytransiHons(Jossey‐BassPublishers,SanFrancisco)McGivernC.,1978,Thedynamicsofmanagementsuccession,ManagementDecision,Vol.16,1,32‐42

(overview)hCp://ec.europa.eu/enterprise/entrepreneurship/support_measures/transfer_business/index.htmTheEuropeanForumontheTransferofBusiness,Lille/France1997Europa‐MarketsforBusinessTransfers(page14‐15)

126 127

hCp://ec.europa.eu/enterprise/entrepreneurship/support_measures/transfer_business/transfer‐brochure‐en.pdfhCp://www.unioncamere.it/allegaH/lille_conclusions1997_en.pdf(page8). In thiscourseyouwillbeplacedat the forefront inunderstandinghoworganizaHonscan

gainasustainablecompeHHveadvantagethroughitspeople.TheroleofHRmanagersisnolonger limited to service funcHons, suchas recruiHngand selecHngemployees.TodayHRmanagersassumeanacHveroleinthebusinesstransferprocess,especiallyinthestrategicplanninganddecisionmakingintheirorganisaHons.MeeHngchallengeshead‐onandusinghumanresourceseffecHvelyarecriHcaltothesuccessofanyworkorganisaHon.Nevertheless, in recent years the field of Human Resource Management (HRM) haschangeddrasHcally.NowadaysHRmanagersplayakeyroleinorganisaHonaldevelopment.TradiHonallymanagersbelievedthatorganisaHonsthathadaccesstocapitalortechnologycouldachieveacompeHHveadvantage.AnotherapproachisthatorganisaHonsthatcouldofferqualityproductsandservicesareastepaheadfromcompeHtors.NonethelesshumancapitalisthesolefactorthatcouldmaintainanorganisaHon‘scompeHHveadvantage.

Inthelightofthecomplexbusinesstransferprocess,bothtransferorsandsuccessorsmustbeabletomasterthekeyHRfuncHonsinordertosucceedinthisprocess.OneofthemainobjecHvesofthismoduleistodevelopanunderstandingofthebusinesstransferconceptandprocessinrelaHonwithHumanResourceManagementfuncHon.ReachingthisobjecHvewillbedonebydiscussingtheimportanceoflinkingeachofthehumanresourcesfuncHonstothebusinesstransferprocess.Thebusinesstransferprocesscouldbedonefromtheownertoanemployeeor toa familymember.Thiswouldbethepathwhichthebusiness tobetransferredshouldtaketocreateacompeHHveadvantageintoday‘sbusinessenvironment.

Themoduleitselfisdividedintofourtopics:1. ImportanceandroleofHumanResourcesattheHmeofbusinesstransferprocess,2.AlignmentoftheHRMstrategywiththeenterprisestrategy,3.HRMattheBusinessTransferProcess,4.ExpandingHRMHorizons.

Thismoduleshouldconsistofatotalof14hoursdividedinto8hours(oneday)offace‐to‐facelearningand2hourse‐learningandapproximately4hoursself‐study.

128 129

This module discusses the importance of Human Resource Management through theanalysisofitsspecifictopicswhichwilltraintheparHcipantsinthecapabilitytodesignandimplementHRMstrategiestoachieveorganisaHonalcompeHHveadvantagesinthebusinesstransferprocess.ThespecificobjecHvesofthismoduleare:

ParHcipantswillunderstandbothshort‐andlong‐termorganisaHonalchallengesintheareaofHRMtomakeaposiHveimpactonfirmdevelopment.ParHcipantswilldiscusseachoftheHRMfuncHonstohelpunderstandhowthefuncHonsaremanagedintheHRMdepartment.ParHcipantswillanalysethedifferentsituaHonsthatcouldemergeintheorganisaHonsandaffecttheHRMdepartmentinordertofindthewaytoapproachthem.ParHcipantswilllearntodevelopteam‐workcapabiliHesinordertoenhancecollaboraHvelearningforhumandevelopmentandeffecHvehumancapitalachievement.ParHcipants will idenHfy the requirements for aCaining a work environment thatpromoteshonesty,respect,andpeople‘sdignity.ParHcipantswilldiscussthe importanceofunderstandingtheemployee,groups,andorganisaHonalneedsinthedevelopmentoftheirfuncHons.

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Time Day10,5h IntroducHon

2hAlignmentoftheHRMStrategywiththeEnterpriseStrategy‐StateoftheHRMFuncHonsbeforeDecisionMakingBusinessTransferBreak

1.5h HRMPlanningfortheBusinessTransferProcessBreak

1.5h

HRMattheBusinessTransferProcessNewHumanResourcesManagementPlanningattheTimeofBusinessTransferProcessCreaHngHigh‐performanceWorkSystemCareerDevelopmentattheBusinessTransferProcess–AcquiringNewEmployeesandDismissal

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Break

1.5h

ExpandingHRMHorizonsDesignaHngNewHumanResourcesManagementStructureSePngHumanResourcesWorkingrequirementsEnhancingEmployee–ManagementRelaHons:RouHneExercisingControlofNewHumanResourcesSystem

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Break1h ConclusionandPracHcalAssignmentTotal8h

Table6:HumanResources‐Face‐to‐faceContent

The coursemodulewill uHlise a combinaHon of learningmethods including groupwork,discussions, case studies, short assignments, self‐study, and face‐to‐face lectures. Theuseofa learningplaxormviaaddiHonalmaterialandonlinecontent isofferedisstronglyrecommended.ContentsofthismoduleshouldbeappliedespeciallytopracHcalplanningandtotheworkonthefinaltransferplan,includingrecurringdo’sanddon’tssessions,whichshouldtakeintoaccounttheconcretesuccessionplansoftheparHcipants.InordertoopHmisethelearning

130 131

process and successfully conclude themodule, self‐study using thematerials provided isessenHal. Learninggroupscanbe formed face to faceorvirtually,and thepresencedaysserve as possibiliHes to answer quesHons and discuss the content of the module withother course parHcipants and the instructors. Preliminary and follow‐up readings aswellaspossibleelectronic resourcesare strongly recommendedpartsof the course contents.ThegoalofcombiningmethodsistomovetoandfrombetweentheoreHcalconceptsandpracHcalapplicaHonsinordertocreaterelevancefortheparHcipants.

UsingcasestudiesistheopHmallearningstrategyfortheteaching‐learningprocess.OneoftheprincipalobjecHvesofthislearningstrategyisthattheparHcipanttakesakeyroleinthelearningprocess.Thecasestudyistheteaching‐learningstrategythatconfrontsparHcipantswith real‐life situaHons in the area of HRM. In this way parHcipants can learn to makedecisionstoproposesoluHonstoaspecificsituaHon.ItisimportanttorememberthattherearenouniquesoluHons;however,somesoluHonscouldbebeCerthanothers.

ParHcipaHoninthismodulerequiresparHcipantstobemoHvatedtoleadabusinessandtohaveaminimumbasicknowledgeofbusinessmanagement.

In classparHcipaHonand short assignments could serveasabasis for assessmentof thecoursemodule.

Itisrecommendedtolistpreliminaryandfollow‐upliteraturebasedontherecommendaHonofthetrainer.

PreliminaryandFollow‐upReading

Armstrong,M.A.(2003).HandbookofHumanResourceManagementPracHce.London:KoganPage.Legge,K.(1995).HumanResourceManagement:RhetoricandRealiHes.London:Macmillan.

Sisson,K.,Storey,J.(2000).TheRealiHesofHumanResourceManagement.Buckingham:OpenUniversityPress.Bach,S.,Sisson,K.(2000).PersonnelManagement:AComprehensiveGuidetoTheoryandPracHce.Oxford:Blackwell.Hollinshead,G.,Leat,M.(1995).HumanResourceManagement:AnInternaHonalandComparaHvePerspecHve.UpperSaddle(NJ)FTPrenHceHall.Salaman,M.(2001).IndustrialRelaHons,UpperSaddle(NJ)FTPrenHceHall.Tayeb,M.(2005).InternaHonalHumanResourceManagement:AMulHnaHonalCompanyPerspecHve.Oxford:OxfordUniversityPress.Torrington,D.,Hall,L.,Taylor,S.(2002).HumanResourceManagement.UpperSaddle(NJ):FTPrenHceHall

ItisrecommendedtolistweblinksbasedontherecommendaHonofthetrainer.Thefollowingisanexample:

CentreforEconomicPerformance‐www.cep.lse.ac.ukCharteredInsHtuteofPersonnelandDevelopment(CIPD)‐www.cipd.co.ukConfederaHonofBriHshIndustry(CBI)‐www.cbi.org.ukDepartmentofTradeandIndustry(DTI)‐www.dH.gov.ukHumanResourceManagement‐www.bized.ac.ukInsHtuteofManagement‐www.inst‐mgt.org.ukTheFinancialTimes‐www.2.comTradesUnionCongress(TUC)‐www.tuc.org.uk

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When we began the Business Transfer Programme, we had several goals in mind. First,wewantedtopromotebusinesstransferintheEuropeanUnion.SinceaboutathirdofallEuropeanbusinessesaretobetransferredwithinthenext10yearsandtransfersaremoreandmoretakingplaceoutsidethefamily,businesstransferhasbecomeamajorpolicyissueinEurope.Aswehavediscussedearlier,everyyear690,000jobsdependonsuccessfulbusinesssuccession.Duetothefactthatbusinesstransferwithinthefamilydiminishesnowadays,theprocessofbusinesstransferfacesdifficulHesthatcannotbeignored.ProblemsarisebecausemeasuresreleasedbytheEuropeanCommissionsupporHngbusinesstransferareonlyhalfimplementedinthememberstatesandtransfereesareo2ennotwellpreparedtotakeoverabusiness. SupporHngbusiness transfer inEuropemeans thatwecanhelpnotonlyonesingleentrepreneurbutalsotheEuropeaneconomy,sinceeveryclosedenterprisemeansalossinwealthandadecreaseofemploymentfigures.ThebeCerthetransferispreparedandtransfereesareeducatedinmanaging,thegreaterprobabilityofsuccessandthepossibilitytocreatenewjobsforthelocaleconomy.

Second,wewantedtointroducedifferentmethodsofteachingandtraininginthefieldofbusinesstransfer.OneonlyhastolookatexisHngregulaHonsindifferentmemberstatestorealisethatteachingbusinesstransfer isnotaneasytask.What isrightanduseful inonecountrycanbethetotaloppositeinanother.Inthisbookwehavediscussedcircumstancesforbusinesstransferinthecountriesofourprojectpartners.TherearevariousinsHtuHonsthatpromotebusinesstransfersinthesecountries.However,weaimatimplemenHngthenewlydevelopedsyllabusoftheBusinessTransferProgrammeintheparHcipaHngcountriesandbeyond.Ourlearningmethodconsistsofself‐directedlearning,face‐to‐facetraining,e‐learning,individualcoaching,andlearningfromexperience.PuPngittogetherprovidesuswithanintegratedsoluHonthatcombinestheprocessofconsulHng,training,andexperienceexchange.

TheresultsofoureffortswereacurriculumforbusinesstransfereesthatcanbeappliedindifferentEuropeancountriesandthatconsistsofanindividualpathandagrouppath.Thecurriculumwasstructuredinthefollowingway:

OrientaHonphase:here theparHcipantsareprovidedwithallnecessary informaHonaboutlearningmaterials,theuHlisedmethodology,goalsandcontentsofthetrainingmodules, a Hme schedule, and expected results. The trainers and consultants areintroduced,too.

E‐learning/Self‐study/supervision: this phase is started at the same Hme as theorientaHonphaseandgoesonHlltheendoftheprogramme.Everylearningmaterialcanbefoundontheonlineplaxorm.AddiHonallytheinternetplaxormservesasanaidtodevelopanindividualbusinessplan.

Group trainings: the first training session is primarily dealing with face‐to‐faceexperienceexchangeandknowledge transfer.As teachingmethodsweuse lectures,small groupworks, independentwork, coaching and supervision, group discussions,answersessions,andworkingonacasestudy.

Individual successionplan: in this part the aim is to develop an individually‐tailoredplanfortheparHcipant‘sownbusinesssuccession. ItwillbeusedtomeettheneedscommunicatedbytheparHcipantsintheirindividualconsulHngsession.

Inorder to testourcurriculum,wehad trials it in twopilot trainings,whichbothstartedinFebruary2008andlastedfortwomonths.OnewasconductedinGraz,theotheroneinVicenza.ThefeedbackthatwasgivenbytheparHcipaHngtransfereesinbothpilottrainingswasextremelyposiHve,andsowearelookingforwardtootherapplicaHonsofthissyllabus.

TheintegraHonofe‐learningintothetrainingprocesswasdevelopedfollowingstateoftheart theoreHcal insights into the approaches to e‐learning.With the help of project teammembersaswellasexpertinsHtuHons,alltechnicalandeducaHonalissuescouldberesolveddeliveringahighendproductforacontemporaryblendedsyllabus.Themixofmethodsisatthecoreofthee‐learningconceptwhichthebusinesstransfertrainingprogrammefollows.

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134 135

DemographicVariables

Successors Transferors

Number % Number %

Age

30orlessthan30yearsold 82 24.1 17 5.4

31through40yearsold 182 53.5 35 11.0

41through50yearsold 64 18.8 53 16.7

51through60yearsold 10 2.9 106 33.4

Over60yearsold 2 0.6 106 33.4

Gender

Female 108 31.8 63 19.9

Male 230 67.6 244 77.0

Na,onality

Austrian 45 13.2 40 12.6

Danish 39 11.5 39 12.3

German 50 14.7 50 15.8

Italian 56 16.5 48 15.1

Spanish 44 12.9 33 10.4

Turkish 52 15.3 50 15.8

Romanian 51 15.0 49 15.5

OtherNaHonaliHes 3 0.9 8 2.5

TheprojectprimarilyaimsatreducingexpensiveclassroompresenceaswellastorealisehigherqualitybyemployingamodernmethodologicalconcepHon.

Theendproductisastandardisedapproachtolearningandteachingbusinesstransferfromtheteachers’,transferors’andtransferees’pointofview.WebelievethatoursystemisaHonofthelearningandteachingprocesseswillbenefitallprotagonistsinthisprogramme.ItisourwishthatitwillbeposiHvelyrecognisedforalongHme.

TheconsorHumwillalsoconHnueitseffortsinthelongerruntryingtoofferthecurriculumvocaHonal training programmes and to support other VET (VocaHonal EducaHon andTraining) providers for licensing across Europe and worldwide. Through this significantimpactandperfecHonintheconsulHngservicesofferedtotransferees,theimprovementoftheeffecHvenessoftransferscanbeexpected,andtheEuropeancorporatelandscapeandconsequentlythewholeeconomywillbenefitfromourefforts.

136 137

Successors Austria Germany Denmark Italy Turkey Romania Spain

Manufacturing 2 50 21 14 11 18 7

Retail/Wholesales 10 0 12 4 12 6 13

Tourism 14 0 1 15 2 24 4

Services 21 0 8 23 7 3 9

Unknown 0 0 0 0 18 0 0

OtherSectors 0 0 0 0 0 0 11

TotalCases 47 50 42 56 32 51 44

Online 42 50 1 0 0 18 1

Offline 5 0 41 56 50 33 43

Transferors Austria Germany Denmark Italy Turkey Romania Spain

Manufacturing 7 50 32 14 15 6 9

Retail/Wholesales 10 0 2 2 12 3 16

Tourism 4 0 1 13 7 29 12

Services 19 0 5 19 13 11 2

Unknown 0 0 0 0 3 0 1

OtherSectors 0 0 0 0 0 0 0

TotalCases 40 50 40 48 50 49 40

Online 38 50 0 0 0 2 3

Offline 2 0 40 48 50 47 37

(I)IndustrialSector (J)IndustrialSector MeanDifference(I‐J) Sig.

Manufacturing Retail/Wholesales ‐.4204028(*) .033

Tourism ‐.6091709(*) .000

Services ‐.4304451(*) .013

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

Successors Transferors

ImportantStepswithintheTake‐overProcess Alpha

ImportantStepswithintheHand‐overProcess Alpha

TechnicalKnowledge(Legal(6),Tax(7),Admon(8),Financial(9)) 0.768

TechnicalKnowledge(Legal(4),Tax(5),AdministraHve(6)) 0.861

Communica,onSkills(Employees(2),Clients(3),Contact(4),Training(5)) 0.714

Communica,onSkills(Successors(1),Employees(2)) n.a

Difficul,eswithintheTake‐overProcess Difficul,eswithintheHand‐overProcess

Legisla,onKnowledge(Tax(8),Legal(7)) n.aManagement(Legal(4),Tax(5),Admin(6),Financial(7)) 0.754

ContactKeyPlayers(Clients(4),Employees(3),Business(1)) 0.542

ContactKeyPlayers(Successor(1),Employees(2),Clients(3)) 0.888

ContactOtherSuccessors(Training(6),Successors(5)) n.a

Financialknowledge(Financial(10),Owner(2)) n.a

ValuableKnowledgeandSkillsinthetake‐overprocess

ValuableKnowledgeandSkillsintheHand‐overProcess

CommercialKnowledge(Legal(4),Financial(3),Commercial(2)) 0.718

LegalAspects(Legal(2),Taxes(3);Pension(4)) 0.737

SoTSkillsandMarke,ngCompetences(MarkeHng(9),Leadership(8),CommunicaHon(7) 0.727

Nego,a,onAspects(Shareholders(1),NegoHaHon(5)) n.a

Firm’sSectorKnowledge(WorkExperience(10),Customer(5),Branch(1)) 0.568

138 139

Successors Transferors

ValuableKW&Competencesforcon,nueBusiness Alpha

ValuableKW&Competencesthatasuccessorshouldhaveforcon,nueBusiness Alpha

BusinessWorth(Market(8),Technical(7),ValuaHon(6)) 0.602

Finance(Legal(1),Financing(3),Liability(4),Funding(5)) 0.732

FinancialCompetence(Liability(4),Financing(3)) n.a Sales(Technical(7),Market(8),So2Skills(9)) 0.667

HRM(LabourLaw(2),HumanResources(10),ValuaHon(6)) 0.604

KnowledgeandSkillsthatSuccessorsShouldHave

Successors’SalesSkills(AccounHngSkills(5),CommunicaHonSkills(6),LeadershipSkills(7),MarkeHngSkills(8)) 0.630

Successors’FirmKnowledge(KWBranch(1),KWCommercial(2),KWFinancial(3)) 0.679

Successors’WorkExperience(WorkExperience(9)) n.a

Successors Transferors

ContentoftheScreeningTool Alpha ContentoftheScreeningTool Alpha

SoT‐Skills(HR(15),So2Skills(16),CommunicaHon(17),PresentaHon(18),NegoHaHon(19),Self&Time(20)) 0.901

SoTSkills(So2Skills(22.16),CommunicaHon(22.17),PresentaHon(22.18),NegoHaHon(22.19),Self&HmeManagement(22.20)) 0.863

Marke,ng(MarkeHng(11),Market(12),CompeHHon(13),Sales(14)) 0.856

Marke,ng(MarkeHng(22.11),Market(22.12),CompeHHon(22.13),Sales(22.14),HumanResources(22.15))

0.846

Law(Lawingeneral(1),TaxLaw(2),BusinessLaw(3))

0.906 Legisla,on(Law(22.1),Tax(22.2),Labour(22.4)) 0.810

Finance(Finance(5),Financing(6),Liability(8)) 0.769

BusinessFinance(Business(22.3),Finance(22.5),Financing(22.6),Credit(22.7),Liability(22.8),Founding(22.9)) 0.896

ExternalFinancialResources(Credit(7),Funding(9)) n.a Infrastructure(Technical(22.10)) n.a

(I)IndustrialSector (J)IndustrialSector MeanDifference(I‐J) Sig.

Manufacturing Retail/Wholesales ‐.3474594(*) .033

Service ‐.2834047(*) .040

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

(I)IndustrialSector (J)IndustrialSector MeanDifference(I‐J) Sig.

Manufacturing Retail/Wholesales ‐.4721950(*) .009

Retail/Wholesales Tourism .4018437(*) .043

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

FactorTransferors

Country*IndustrialSector

IndustrialSector Country Factor

Successors

Country*IndustrialSector

IndustrialSector Country

F p F p F p F p F p F p

TechnicalKnowledge .691 .793 .013 .998 3.599* .002

TechnicalKnowledge 1.875* .026 .255 .858 7.947* .000

CommunicaHonSkills .728 .755 .073 .975 3.403* .003

CommunicaHonSkills 1.738 .044 1.531 .207 11.119* .000

Management 1.887* .024 1.652 .178 4.342* .000LegislaHonKnowledge 2.375* .003 .355 .800 7.130* .000

ContactKeyPlayer 1.480 .112 5.031* .002 17.861* .000

ContactKeyPlayer 1.681 .055 .085 .968 12.290* .000

LegalAspects .846 .626 .448 .719 19.630* .000ContactOtherSuccessors 3.642* .000 1.811 .146 23.743* .000

NegoHaHonAspects .959 .499 2.225 .085 9.176* .000

FinancialKnowledge 2.716* .001 .399 .754 11.178* .000

Successors’SalesSkills 2.797* .000 2.654* .049 7.986* .000

CommercialKnowledge 2.032* .014 1.571 .197 4.215* .000

140 141

Successors’FirmKnowledge 1.190 .279 .178 .911 2.877* .010

So2SkillsandMKTCompetences 1.657 .060 1.884 .133 10.455* .000

Successors’WorkExperience .689 .795 1.824 .143 3.175* .005

Firm’sSectorKnowledge 2.625* .001 .722 .510 19.086* .000

Finance 1.183 .285 .862 .461 4.831* .000 BusinessWorth3.146* .000 1.758 .156 4.584* .000

Sales 1.674 .056 .437 .727 3.942* .001FinancialCompetence 1.458 .122 3.380* .019 10.974* .000

HRM 1.113 .344 .510 .676 6.853* .000 So2Skills 1.132 .333 1.763 .156 2.261* .039

Business’Finance 1.222 .256 1.122 .341 5.119* .000 MarkeHng 1.481 .121 1.518 .211 7.056* .000

So2Skills .687 .796 2.400 .069 2.284* .037 Law .753 .718 1.100 .350 1.919 .080

MarkeHng 1.281 .215 .896 .444 1.245 .284 Finance 1.978* .021 1.237 .298 4.137* .001

Law 1.368 .165 2.709* .046 3.420* .003ExternalFinanceResources .944 .513 1.292 .279 11.719* .000

Infrastructure .744 .738 .124 .946 8.556* .000

Notes:*p<0.05

Successors Transferors

ImportantStepswithintheTake‐overProcess ImportantStepswithintheHand‐overProcess

TechnicalKnowledge TechnicalKnowledge

Austria Germany ‐1.0359022(*) .000 Austria Germany ‐.7977880(*) .000

Italy ‐1.0482800(*) .000 Italy ‐1.1793878(*) .000

Romania ‐1.1615871(*) .000 Romania ‐.9241021(*) .000

Denmark ‐1.4379317(*) .000 Denmark ‐.9122014(*) .000

Spain ‐1.6847599(*) .000 Spain ‐.5213173(*) .019

Turkey Denmark ‐.8411447(*) .016 Germany Turkey .4971384(*) .011

Spain ‐1.0879729(*) .001 Italy Turkey .8787381(*) .000

Spain .6580705(*) .002

Romania Turkey .6234525(*) .002

Turkey Denmark ‐.6115517(*) .004

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

Successors Transferors

ImportantStepswithintheTake‐overProcess ImportantStepswithintheHand‐overProcess

Communica,onSkills Communica,onSkills

Austria Germany 1.8089678(*) .000 Austria Romania ‐.8163001(*) .000

Italy .8183598(*) .000 Denmark ‐.7322294(*) .001

Germany Italy ‐.9906080(*) .000 Germany Romania ‐.6213637(*) .001

Romania ‐1.6527369(*) .000 Denmark ‐.5372930(*) .009

Turkey ‐1.5227055(*) .000 Italy Romania ‐.5782546(*) .004

Denmark ‐2.1155994(*) .000 Denmark ‐.4941839(*) .020

Spain ‐1.4852098(*) .000 Romania Turkey .9376140(*) .000

Italy Romania ‐.6621289(*) .000 Spain .6372311(*) .002

Turkey ‐.5320974(*) .004 Turkey Denmark ‐.8535434(*) .000

Denmark ‐1.1249914(*) .000 Denmark Spain .5531604(*) .013

Spain ‐.4946017(*) .004

Romania Denmark ‐.4628625(*) .008

Turkey Denmark ‐.5928940(*) .002

Denmark Spain .6303897(*) .001

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

142 143

Successors Transferors

Difficul,eswithintheTake‐overProcess Difficul,eswithintheHand‐overProcess

Legisla,onKnowledge Management

Austria Germany .4332920(*) .026 Austria Italy ‐.4972430(*) .017 Italy .6610042(*) .001 Romania ‐.7943254(*) .000 Romania ‐.5554468(*) .004 Germany Italy ‐.8929598(*) .000 Denmark .5205395(*) .017 Romania ‐1.1900422(*) .000 Spain .9598457(*) .000 Turkey ‐.4689064(*) .012Germany Romania ‐.9887388(*) .000 Denmark ‐.3853250(*) .046 Spain .5265537(*) .004 Spain ‐.5116089(*) .009Italy Romania ‐1.2164511(*) .000 Italy Turkey .4240534(*) .026Romania Turkey .8386547(*) .000 Denmark .5076347(*) .011 Denmark 1.0759863(*) .000 Romania Turkey .7211358(*) .000 Spain 1.5152925(*) .000 Denmark .8047172(*) .000Turkey Spain .6766379(*) .001 Spain .6784333(*) .001Denmark Spain .4393062(*) .035

ContactKeyPlayers ContactKeyPlayers

Austria Germany 1.3617181(*) .000 Austria Germany 1.0661969(*) .000Germany Italy ‐1.3370956(*) .000 Romania .5449831(*) .004

Romania ‐1.7133658(*) .000 Turkey 1.2352819(*) .000Turkey ‐1.0105660(*) .000 Denmark .6382635(*) .001Denmark ‐1.6519225(*) .000 Spain .4510234(*) .023Spain ‐1.1368135(*) .000 Germany Italy ‐1.4179519(*) .000

Italy Romania ‐.3762702(*) .027 Romania ‐.5212139(*) .002Romania Turkey .7027998(*) .000 Denmark ‐.4279334(*) .016

Spain .5765523(*) .001 Spain ‐.6151735(*) .001Turkey Denmark ‐.6413564(*) .003 Italy Romania .8967381(*) .000Denmark Spain .5151089(*) .011 Turkey 1.5870370(*) .000

Denmark .9900185(*) .000 Spain .8027784(*) .000Romania Turkey .6902989(*) .000Turkey Denmark ‐.5970184(*) .001 Spain ‐.7842586(*) .000

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

Successors Transferors

ValuableKnowledgeandSkillsintheTake‐overProcess

ValuableKnowledgeandSkillsintheHand‐overProcess

CommercialKnowledge LegalAspects

Austria Italy ‐.6723558(*) .000 Austria Germany ‐1.7164434(*) .000

Romania ‐.4106729(*) .033 Italy ‐1.5416239(*) .000

Turkey ‐.5379425(*) .013 Romania ‐1.8162270(*) .000

Denmark ‐1.2633405(*) .000 Turkey ‐.4698372(*) .006

Spain ‐.6145718(*) .002 Denmark ‐1.2013382(*) .000

Germany Italy ‐.5308301(*) .011 Spain ‐.8052690(*) .000

Denmark ‐1.1218148(*) .000 Germany Turkey 1.2466062(*) .000

Spain ‐.4730462(*) .030 Denmark .5151052(*) .003

Italy Denmark ‐.5909847(*) .002 Spain .9111744(*) .000

Romania Denmark ‐.8526677(*) .000 Italy Turkey 1.0717867(*) .000

Turkey Denmark ‐.7253981(*) .001 Denmark .3402857 .051

Denmark Spain .6487687(*) .001 Spain .7363549(*) .000

SoTSkillsandMarke,ngCompetences Romania Turkey 1.3463898(*) .000

Austria Germany .7961918(*) .000 Denmark .6148888(*) .000

Romania ‐.4178881(*) .020 Spain 1.0109580(*) .000

Denmark ‐.6229817(*) .001 Turkey Romania ‐1.3463898(*) .000

Spain ‐.5216873(*) .005 Denmark ‐.7315010(*) .000

Germany Italy ‐.7308699(*) .000 Spain ‐.3354318 .056

Romania ‐1.2140799(*) .000 Denmark Spain .3960692(*) .033

Turkey ‐.4638319(*) .034 Nego,a,onAspects

Denmark ‐1.4191735(*) .000 Austria Germany .3957678(*) .044

Spain ‐1.3178791(*) .000 Italy ‐.7125502(*) .000

Italy Romania ‐.4832100(*) .004 Denmark ‐.7451514(*) .000

Denmark ‐.6883036(*) .000 Germany Italy ‐1.1083180(*) .000

144 145

Spain ‐.5870092(*) .001 Romania ‐.4080994(*) .028

Romania Turkey .7502480(*) .000 Denmark ‐1.1409192(*) .000

Turkey Denmark ‐.9553416(*) .000 Spain ‐.7198310(*) .000

Spain ‐.8540472(*) .000 Italy Romania .7002186(*) .000

Turkey .9448337(*) .000

Romania Denmark ‐.7328198(*) .000

Turkey Denmark ‐.9774349(*) .000

Spain ‐.5563466(*) .007

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level

Successors

ValuableKnowledgeandSkillsintheTake‐overProcess

Firm’sSectorKnowledge

Austria Germany ‐.9874410(*) .000

Italy ‐.5358630(*) .001

Romania .5778439(*) .001

Turkey ‐.7647691(*) .000

Spain ‐1.0214902(*) .000

Germany Italy .4515780(*) .013

Romania 1.5652849(*) .000

Denmark 1.1884922(*) .000

Italy Romania 1.1137069(*) .000

Denmark .7369142(*) .000

Spain ‐.4856272(*) .003

Romania Turkey ‐1.3426130(*) .000

Denmark ‐.3767927(*) .026

Spain ‐1.5993340(*) .000

Turkey Denmark .9658203(*) .000

Denmark Spain ‐1.2225414(*) .000Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

Successors Transferors

ValuableKW&CompetencesforCon,nueBusiness

ValuableKW&CompetencesthataSuccessorShouldHaveforCon,nueBusiness

BusinessWorth Finance

Austria Germany ‐.8699937(*) .000 Austria Romania 1.0808359(*) .000

Germany Italy .7455492(*) .000 Germany Romania 1.2359147(*) .000

Romania 1.0257584(*) .000 Turkey .4909454(*) .010

Turkey .5524006(*) .017 Italy Romania 1.1859689(*) .000

Denmark .8454001(*) .000 Turkey .4409996(*) .023

Spain 1.0777658(*) .000 Romania Turkey ‐.7449693(*) .000

Romania Turkey ‐.4733579(*) .022 Denmark ‐1.0376814(*) .000

Turkey Spain .5253652(*) .015 Spain ‐1.2615740(*) .000

Turkey Spain ‐.5166047(*) .013

FinancialCompetence Sales

Austria Germany .8966607(*) .000 Austria Germany ‐.4676775(*) .019

Italy ‐1.1076630(*) .000 Romania .5563075(*) .006

Germany Italy ‐2.0043236(*) .000 Turkey .6143969(*) .003

Romania ‐1.0784465(*) .000 Germany Romania 1.0239850(*) .000

Turkey ‐.6323839(*) .003 Turkey 1.0820744(*) .000

Denmark ‐1.0423899(*) .000 Denmark .4118427(*) .039

Spain ‐1.1556814(*) .000 Spain .8783019(*) .000

Italy Romania .9258771(*) .000 Italy Romania .7937341(*) .000

Turkey 1.3719398(*) .000 Turkey .8518235(*) .000

Denmark .9619338(*) .000 Spain .6480510(*) .002

Spain .8486423(*) .000 Romania Denmark ‐.6121423(*) .002

Romania Turkey .4460627(*) .018 Turkey Denmark ‐.6702317(*) .001

Turkey Denmark ‐.4100060(*) .039 Denmark Spain .4664592(*) .030

Spain ‐.5232975(*) .008

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

146 147

Transferors

ValuableKW&CompetencesthataSuccessorShouldHaveforCon,nueBusiness

HRM

Austria Germany .7054378(*) .000

Romania ‐.5331360(*) .007

Turkey .6860845(*) .001

Germany Italy ‐.5729550(*) .002

Romania ‐1.2385739(*) .000

Spain ‐1.0817349(*) .000

Italy Romania ‐.6656189(*) .000

Turkey .5536017(*) .004

Spain ‐.5087800(*) .011

Romania Turkey 1.2192206(*) .000

Denmark .8942147(*) .000

Turkey Spain ‐1.0623816(*) .000

Denmark Spain ‐.7373757(*) .000

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

Successors Transferors

ContentoftheScreeningTool ContentoftheScreeningTool

SoT‐Skills SoTSkills

Spain Austria 1.1434878(*) .000 Austria Spain ‐.6510523(*) .011

Germany .7121851(*) .007 Germany Turkey .5207210(*) .015

Italy 1.0112927(*) .000 Denmark .4766529(*) .047

Romania .8195750(*) .001 Italy Spain ‐.4990204(*) .043

Turkey .9256205(*) .000 Romania Turkey .6473094(*) .003

Denmark .6032413(*) .013

Turkey Spain ‐.9285483(*) .000

Denmark Spain ‐.8844802(*) .001

Marke,ng Law

Austria Italy ‐.7480187(*) .002 Austria Italy ‐.5156562(*) .033

Romania ‐1.0755126(*) .000 Romania ‐.5072529(*) .022

Denmark ‐.9918225(*) .000 Germany Italy ‐.6720912(*) .002

Germany Italy ‐1.0218840(*) .000 Romania ‐.6636879(*) .000

Romania ‐1.3493779(*) .000 Italy Spain .7265861(*) .002

Turkey ‐.4943508(*) .027 Romania Spain .7181828(*) .001

Denmark ‐1.2656878(*) .000 Denmark Spain .4954738(*) .049

Spain ‐.4607395(*) .040

Italy Turkey .5275332(*) .020

Turkey .5275332(*) .020

Spain .5611445(*) .014

Romania Turkey .8550271(*) .000

Spain .8886384(*) .000

Turkey Denmark ‐.7713370(*) .001

Denmark Spain .8049483(*) .000

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

148 149

Successors Transferors

ContentoftheScreeningTool ContentoftheScreeningTool

Finance Business’Finance

Austria Italy ‐1.0459377(*) .000 Austria Romania .5094124(*) .025 Romania ‐.5309634(*) .022 Turkey 1.0163725(*) .000 Spain ‐.5039455(*) .042 Denmark .5324404(*) .044Germany Italy ‐1.2097284(*) .000 Germany Turkey .8597428(*) .000 Romania ‐.6947540(*) .002 Italy Turkey .7066575(*) .002 Spain ‐.6677362(*) .005 Romania Turkey .5069601(*) .016Italy Romania .5149743(*) .022 Turkey Spain ‐.5751492(*) .014 Turkey 1.1536518(*) .000

Denmark .7390006(*) .003

Spain .5419922(*) .026

Romania Turkey .6386775(*) .003

Turkey Spain ‐.6116597(*) .009

ExternalFinancialResources Infrastructure

Austria Turkey ‐1.3221606(*) .000 Austria Germany ‐1.7806182(*) .000Germany Italy ‐.6096935(*) .004 Italy ‐.7239809(*) .001 Romania ‐.5812982(*) .002 Romania ‐.7761830(*) .000 Turkey ‐1.6712624(*) .000 Turkey ‐.4870885(*) .023 Spain ‐.6743374(*) .001 Denmark ‐1.2045647(*) .000Italy Turkey ‐1.0615689(*) .000 Germany Italy 1.0566373(*) .000Romania Turkey ‐1.0899642(*) .000 Romania 1.0044351(*) .000Turkey Denmark 1.3450365(*) .000 Turkey 1.2935297(*) .000 Spain .9969250(*) .000 Denmark .5760535(*) .006

Spain 1.3506723(*) .000Italy Denmark ‐.4805838(*) .035Romania Denmark ‐.4283817(*) .041Turkey Denmark ‐.7174762(*) .001Denmark Spain .7746189(*) .001

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

Successors Transferors

Difficul,eswithintheTake‐overProcess KnowledgeandSkillsthatSuccessorsShouldHave

ContactOtherSuccessors Successors’SalesSkills

Austria Germany .8403588(*) .000 Austria Romania ‐.5443768(*) .006

Italy ‐.6553542(*) .000 Turkey .4474646(*) .026

Romania 1.1316394(*) .000 Germany Romania ‐.7892355(*) .000

Denmark ‐.8814342(*) .000 Denmark ‐.4375251(*) .026

Germany Italy ‐1.4957130(*) .000 Italy Romania ‐.7483833(*) .000

Romania .2912806(*) .033 Denmark ‐.3966729(*) .046

Turkey ‐.9855606(*) .000 Romania Turkey .9918414(*) .000

Denmark ‐1.7217930(*) .000 Spain .6338302(*) .002

Spain ‐1.0939421(*) .000 Turkey Denmark ‐.6401310(*) .002

Italy Romania 1.7869937(*) .000 Successors’FirmKnowledge

Turkey .5101524(*) .001 Austria Germany ‐.8119781(*) .000

Spain .4017709(*) .006 Italy ‐.7756280(*) .000

RomaniaTurkey ‐1.2768412(*) .000 Denmark ‐.8526376(*) .000

Denmark ‐2.0130736(*) .000 Spain ‐.4905355(*) .023

Spain ‐1.3852227(*) .000 Germany Romania .9578573(*) .000

Turkey Denmark ‐.7362324(*) .000 Turkey .4560686(*) .017

Denmark Spain .6278508(*) .000 Italy Romania .9215073(*) .000

FinancialKnowledge

Austria Germany ‐1.0909909(*) .000 Romania Turkey ‐.5017887(*) .009

Romania .4462502(*) .017 Denmark ‐.9985168(*) .000

Turkey .4606076(*) .026 Spain ‐.6364148(*) .002

Germany Italy 1.2902795(*) .000 Turkey Denmark ‐.4967281(*) .015

Romania 1.5372411(*) .000 Successors’WorkExperience

Turkey 1.5515985(*) .000 Austria Germany ‐.6637043(*) .001

150 151

Denmark .8399905(*) .000 Turkey ‐.4992468(*) .018

Spain 1.0211840(*) .000 Germany Italy .8373554(*) .000

Italy Denmark ‐.4502890(*) .021 Romania .7763014(*) .000

RomaniaDenmark ‐.6972506(*) .000 Denmark .6326075(*) .002

Spain ‐.5160571(*) .003 Spain .5678403(*) .007

Turkey Denmark ‐.7116080(*) .001 Italy Turkey ‐.6728979(*) .001

Spain ‐.5304145(*) .007 Romania Turkey ‐.6118440(*) .002

Turkey Denmark .4681500(*) .027

Basedonobservedmeans.*Themeandifferenceissignificantatthe.05level.

AstherearenospecifictrainingprogrammesforbusinesssuccessionintheValenciaRegion(ValenciaCommunity),theanalyseswillconcentrateontheprogramsforstart‐upenterprises.OnlyinBarcelonathereisanewmasterprogrammeonfamilybusinesstransfer

A.TrainingProgrammesforBusinessTransferTheonlyprogrammeonbusinesstransferthatexists inSpain isofferedby IDEC(InsHtutode Educación ConHnua) and the University Pompeu Fabra of Barcelona. It is an unHtledpost‐graduatemaster’sprogrammeonManagementandTransferofFamilyBusiness.TheduraHonofthecourseis750hoursandthecontentoftheprogrammeisasfollows:

PART1 TheBusinessFamily

PART2 OrganisaHonalAspects

PART3 CorporateStructureandGovernance

PART4 TaxaHon

PART5 OrganisaHon

PART6 PlanningtheSuccessionProcess

PART7 TheFamilyProtocol

B.TrainingProgrammesforStart‐up

RegionalMinistryofEconomy,FinancesandEmployment.ThisorganisaHonisinchargeoftheemploymentpoliciesintheValenciaCommunity.Withintheministry,theValenciaServiceofTrainingandEmployment(SERVEFinSpanishlanguage)is responsible to impelandexecute theacHvepoliciesofprofessional training. Inside theoccupaHonaltraining,aspecialtydenominated“ServicestoCompanies”exists.Withinthis

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152 153

professionalfamily,wecanfindseveralmodulesrelatedtothecreaHonofcompaniesandtrainingforbusinesspeople:

Professional Area: Managerial Consultancy (EMCE). For students with secondaryschool

CREATIONANDMANAGEMENTOFCOMPANIES: 400

DescripHon Hours

ConsHtuHonofaCompany.TheBusiness‐plan 45

Economic‐financialTechniques 143

AccountancyTechniques 65

FiscalManagement.LabourManagement. 67

MarkeHngandSales 30

QualityManagement. 30

LabourRisksintheWorkplace 20

ProfessionalArea:AreaforSpecialisedCentres(EMZZ).ThestudentisrequiredtohaveProfessionalTraining(Level1)orsimilarandpreviousworkingexperience.

BASICLEVELONWORKER‐OWNEDCOMPANIES 30

DescripHon Hours

TheSocialEconomy.Concept 1

CharacterisHcsofWorker‐ownedLimitedCompanies 1

JuridicalRegulaHon 8

SocialSecurity 5

TaxaHonSystem 5

StepstoConsHtuteaCompanyortoBeSelf‐employed 5

Self‐Employment 1

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BASICMANAGEMENTOFTHEWORKER‐OWNEDLIMITEDCOMPANIES.

40

DescripHon Hours

TheSocialEconomy.Concept. 1

CharacterisHcsofWorker‐ownedLimitedCompanies 1

LegalRegulaHon 8

SocialSecurity 5

TaxaHonSystem 5

ImportanceofHumanResourcesandCommunicaHon. 5

RolesofManagement 5

PlanningandControl:toEstablishObjecHvesandSystems. 8

SubsidiesPrograms 2

MANAGEROFTHEWORKER‐OWNEDCOMPANIES 116

DescripHon Hours

PlanningandStrategiesofWorker‐ownedLimitedCompanies 15

HumanResources 20

TaxaHonsystem 10

MarkeHngandForeignTrade 15

SocialSecurity 15

SafetyandHygieneatTheWork 10

CompanyComputerizaHon 10

ConferencesandVisitstoCompanies 10

154 155

EuropeanCenterofCompaniesandInnovaHon(CEEI)While most trainings in the IMPIVA and the technological insHtutes focus on alreadyconsHtutedcompanies,allacHonsdirectedatentrepreneursbelongexclusivelytotheCEEIin the Technological Park of Paterna, in the outskirts of Valencia. Themain objecHve ofthesecentres isto impelthecreaHonofnewcompanies,especiallythosewith innovaHvecharacter.TheacHviHesof theCEEIareverydiverseand include trainingacHviHes, suchascourses,seminars,andconferences.Thecourses in creaHonof companies (inici@)aredirectedatbusiness startups.Thepurpose is toacquireaglobal visionof thedifferentareasof thecompanybymeansofabasicmulHdisciplinarytraining.Thecourseincludes120facetofaceand150onlinehours.Theprogrammeisasfollows:

PRESENTIALCOURSEOFCOMPANIESCREATION

MODULES HOURS

IntroducHon 2

MarkeHngandCommercialManagement 38

PlanningandLabourLegislaHon 32

AccounHngandBusinessLaw 48

ON‐LINECOURSEOFCOMPANIESCREATION

CHAPTER LESSON

IntroducHon IntroducHon

TheMoHvaHontoLearn TheEntrepreneurandtheIdea

ThePlanofCompany TheBusinessPlan

EndandMission EndandMission

AnalysisoftheGeneralEnvironment. AnalysisoftheGeneralEnvironment.

TheAnalysisofCloseEnvironment Suppliers.Clients.CompeHtors.SubsHtuteProducts.

TheInternalAnalysis ProductsandServices.Processes.Resources.

ó SWOT SWOT

TheEconomic‐financialPlan EconomicViability.Financialviability.

ToMakeaStart LegalForms.ConsHtuHonalProcedures.

LabourContracts.SpanishTaxaHonSystem.

ElaboraHonofPlanofCompany TheDocumentPlanoftheCompany

ValenciaYouthInsHtute(IVAJ)oftheRegionalMinistryofWelfare.The coursesof thisorganisaHonareopen toanyagegroup. TheacHviHesdevelopedaremanifold and include the Young Companies CreaHon Programme (PCEJ), which includesseveralacHons,allofwhicharefreeofcharge.Thetrainingcoursesonbusinessmanagementlastforfivedaysandareprovidedonamonthlybasis.Theprogrammeisasfollows:

1.LegalForms AnalysisoftheDifferentTypes

2.StepsandProcedures AdministraHveLicenses

3.BusinessPlan DevelopoftheCommercialViabilityoftheIdea

4.TaxaHon Billing,MinimumRequirements.AccounHng.Tax

5.TaxaHonPracHce CompleHonoftheOfficialForms

6.FinancialPlan ForecastofRevenueandExpenditure.InsolvencyRisks.LossandBenefits.Balance

7.LabourContracts LabourProceduresandSubsidies

8.Self‐employmentSocialSecuritySystem NaHonalInsuranceContribuHon

9.EntrepreneurAssociaHon WorkingExperienceofanEntrepreneur

10.SalesTechniques ProcessofCommercializaHonoftheIdea

ChamberdeCommerce,IndustryandShippingofValenciaThisorganisaHondevelopsitstrainingacHviHesmainlyforcompaniesandthroughtheBusinessSchoolLluísLives.Nevertheless,since itbelongstotheNetofChambersofCommerceofSpain,itisalsopartoftheFoundaHonINCYDE(InsHtuteofCreaHonandDevelopmentoftheCompany),whichhasasitsobjecHvetosupportthecreaHonandconsolidaHonofcompanies

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thankstotheirownmethodologyandteam.TheentrepreneurtrainingfinancedbytheFoundaHonINCYDEissummedupintheProgramofCreaHonandConsolidaHonofCompanies.Itlastseightweeksoveraperiodoftwoandahalfmonths,alternaHngthreeweeksoflessons(3hoursperday)andaweekofconsultancywithspecialistadvisers.ThiscourseisofferedinValenciafourorfiveHmesayear,anditsmethodologyconsistsofthreephases:

From the idea to theproject.Analysis of theentrepreneur idea and realisaHonof aviable managerial project through individualised tuiHon and the combinaHon ofadministraHon tools and individualised consultancy. The training content of theprogrammesisorganisedineightmodules:

MarkeHngandTrade InternetTrade

FinancialAnalysis ForeignTrade

JuridicalandFiscalAspects ManagementCommunicaHon

CompuHngApplicaHons QualityManagement

Fromtheviableprojecttotheopeningofthecompany.Oncetheprojectisfinalised,theybeginafollowupperiod.Aconsultantvisitseachcompanytocarryoutperiodicinterviewswiththefuturemanager.TheconsultantskeepuptheirconsultancyfortwoyearsunHlthecompanyisconsolidated.FromtheopeningofthecompanytotheconsolidaHon.A2erstarHngthecompanies,theprogrammessHmulatetheconsolidaHonandcooperaHonamongthem.

CityCouncilofValencia.TheCityCouncilofValenciamanagesanAgencyofLocalDevelopmentincludingtheOfficeofEconomicPromoHonandEmployment.ThisofficehasseveralbranchesinthecityandisinchargeofinformingandhelpingentrepreneurswiththenecessarystepsfortheconsHtuHonandsePngupoftheircompanyaswellasinreceivinggrantsandfundingfromotherpublicorganisaHons.TrainingismanagedbytheEmploymentService,whichcollaborateswiththeFoundaHonofChamberofCommerce,INCIDE.ThecourseforCreaHonofCompaniesandthesupporHng

°

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ó

courseforSmallTradeincludethestudyandviabilityoftheidea,thetransformaHonoftheideaintoacompanyplanandthestepsneededtostartacompany.

B.2.Unions.–ComisionesObreras(CC.OO.)This organisaHon collaborates in the training promoted by the SERVEF, in job‐relatedprofessionaltraining,through itssecHonFOREMaswellas intheacHonsOPEA.AlthoughFOREMwas not offering courses related to the creaHon or administraHon of companieswhenwecarriedoutthisstudy,ithadalreadybeenchosenfortheacHviHesofinformaHonandmoHvaHonfortheself‐employmentandadviceofmanagerialprojects.

–UniónSindicalObrera(USO)The trainingworkof this union is arHculated inValencia through the Fundación Treball iFormació (TREFOR). As menHoned previously, this foundaHon offers training under thefundingoftheacHonsOPEAoftheSERVEF.TheymainlyfocusoninformaHonandmoHvaHonfortheself‐employedofferingcoursesduringthesecondhalfoftheyearandcarryoutadvicetutorialsforentrepreneurs.

–UniónGeneraldeTrabajadores(UGT)AddiHonallytoadvisingentrepreneurs,thewebpageofthisunionprovidesguides,availableinPDFformat,whicharehelpful inacquiringabasicglobalviewonthebusinessacHvity.Theseguidesrepresentoneofthefewlongdistancetrainingofferswehaveseen.ThemostinteresHngarethefollowingones:

Self‐employment. On 22 pages it shows the advantages and inconveniences of thecreaHonofcompanies,thebusinessplan,andthenecessarypreviousanalysesPracHcal guide for entrepreneurs. This document is more complete (95 pages) andencompasses:

‐IntroducHontoself‐employment.‐Themanagerialproject.‐Juridicalformofthecompany.‐AnnexeswiththebasicadministraHvedocumentaHonandaddressesofinterest.

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158 159

B.3.Privateins9tu9ons.–Associa9onofYoungEntrepreneursofValencia(AJEV)ThisassociaHonprovidessupportexclusivelytoitspartners,whocanbebusinesspeopleorcompanies.ThelaCerarefullmemberswithaccesstoalltheservicesoftheorganisaHon,e.g.meeHngs,businessdinners,YoungManagerPrize,andconferences.ForbusinesspeopleAJEVpromotesnewvocaHonalandmanagerialiniHaHves,theirinclusioninthenetoftheassociaHonandcounsellingservices.

–ValenciaConfedera9onofEnterprises.The enterprise confederaHons organise job‐related training courses under the economicumbrella of the SERVEF. This training is offered through the FoundaHon Training andEmployment. Among the job‐related training courses offered during the first quarter of2005,wecanfind:

CourseofmanagerialabiliHes,26hourseveningcourse.ItwasofferedfourHmesinthefirstquarterof2005.ManagementofSMEs,26hourseveningcourse.ThreecoursesofthistypewereofferedbetweenJanuaryandMay2005.

–BancajaFounda9on.TheBancajaFoundaHonsupportsacHviHesforyoungentrepreneurs.AddiHonallytoawebpagewithusefulinformaHonandasimulator,itoffersthecourse“CreaHonofCompaniesforYoungEntrepreneurs”.Itlasts150hours(100facetofacehoursand50hoursoftutorship),itisfreeofchargeandincludespracHcalworkonthebusinessplan.Theprogrammeofthelastcoursewas:

IntroducHon HowtoMakeaManagerialProjectReal 4Hours

ModuleI MarkeHngandCommercializaHon 30Hours

ModuleII PlanningandLabourRegulaHon 20Hours

ModuleIII AccounHngandBusinessLaw 46Hours

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–Associa9onofEntrepreneursofValencia(COEV)ThisorganisaHonofferscompaniesmanagementtraining intheformatofveryspecialisedseminarsdirectedtoexperiencedprofessionals.

–SchoolofBusinessAdministra9onoftheMediterranean(EDEM)This organisaHon is a good example of training centres which periodically offer coursesdirectedattheentrepreneur.Wecanhighlightthebasiccourseon“HowtoBeaManager”.This year this course is supposed to lastmore than 100 hours and is almost exclusivelydesignedtofacilitatethemanagerialandentrepreneurabiliHes.

B.4.UniversityCentres.–UniversityofValencia:Founda9onUniversity‐Enterprise(ADEIT)TheUniversityofValencia, through itsFoundaHonUniversity‐Enterprise (ADEIT),wantstostrengthenandfostertheteachinganddiffusionofthemanagerialculture.ADEITorganisestwocoursesforentrepreneurs:

“Whocanbeanentrepreneur?”This is a free coursededicated to the second cyclestudentsoftheuniversity.Itlasts52hours.“ProgrammeofCreaHonandDevelopmentof Enterprises”, in collaboraHonwith theFoundaHonSchoolofIndustrialOrganizaHon(EOI).Thecontentis:

1ªPhase FromtheIdeatotheProject.

TheobjecHveistomaketheentrepreneurtocarryoutaviableproject.13modules.

2ªPhase FromtheViableProjecttotheOpeningoftheCompany.

TheobjecHveistosHmulatetheentrepreneurtostarttheprojectelaborated.

3ªPhase FromtheOpeningoftheCompanytoitsConsolidaHon:NetofSMEs

TheobjecHveofthisnetistoencouragecontactsamongcompaniesofcommonand/orcomplementarysectorsthatcanshareproblemsandsimilarsoluHons,tryingtofacilitatetheexchangeofknowledge

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–UniversityCardinalHerrera

Apart from offering the graduate degree programmes, the university centre’s school ofbusinessorganisessummercoursesofshortduraHononHowtoCreateyourCompanyStepbyStep.Moreover,theyhavetechnicianswhogiveindividualisedadvice.

–UniversityCentreLaFlorida

InsidetheprogrammedenominatedasStudentsServices,thiseducaHonalcentredependson the grants approved by the SERVEF within the procedures of OPEA to support theentrepreneurandofferindividualisedadviceregardingthestudyofviabilityoftheideaandtheelaboraHonandsePngupofthebusinessplan.

–CatholicUniversityofValenciaSanVicenteMar6r(UCV)Inspiteofhavingbeenfoundedonlyin2004‐2005,theUCVhasalreadybeguntoestablisha programme of business people called CREA. So far they have only offered a series ofinformaHveconferences.

–MetaForum

Thiscompanyspecialisesintheconsultancyandthetrainingofentrepreneurs.Animportantpartof itsacHviHes isdevotedexclusivelytotheworldoftheentrepreneur.TheacHviHesoftheir“ServiceofProgrammesInstallaHonfortheCreaHonofEnterprises”SIPCREincludetrainingprogrammes.Thesecanbefacetoface,virtual(on‐line)oronDVDandareaddressedtothepopulaHoningeneral,totutors,andbusinesspeopleandinclude:

TraininginManagerialAbili,es TraininginManagerialAdministra,on

‐SalesTechniques ‐StartsupoftheCompany

‐PresentaHonTechniques. ‐PracHcalAccounHng

‐NegoHaHonTechniques. ‐BudgetaryAccounHng

‐PlanofPersonalMarkeHng. ‐QualityandExcellence

‐CreaHvityandSoluHonofProblems. ‐PlanningandStrategicDirecHons.

‐PlanningandOperaHveDirecHons.

TraininginManagerialAbili,es IntegralControlPanels.

‐DirecHonAccordingtoObjecHves. ‐Economic‐FinancialManagement.

‐DirecHonAccordingtoSales. ‐InformaHonandKnowledge

‐DirecHonofHighOutputTeams. ‐ManagerialOrganizaHon

‐DirecHonofMeeHngs. ‐ACenHontotheClient.

‐Leadership ‐MarkeHngoftheCompany.

‐ManagementofConflicts. ‐TheTaxaHonintheCompany

‐CommunicaHonforManagement. ‐DesignofProcesses.

‐DirecHonandManagementofPersonnel. ‐DesignofProductsandServices

‐LabourRecruiHng.

TraininginInnova,on

‐ExploraHonofBusinessOpportuniHes.

‐EvaluaHonofBusinessOpportuniHes.

‐In‐Entrepreneurship.

‐ManagementofInnovaHon.

BecauseoftherangeofservicesSIPCREoffersisverybroad,wewillfocusonPCRE,whichwehavealreadypresentedintheprevioussecHon.PRCEwill includeacompleterangeofservicesforthreegroups:

ForuniversiHesitofferstrainingstopromotetheentrepreneurialaPtudes,exploraHonof opportuniHes for the self‐employment, of managerial administraHon, as well asspecialised and advanced training in personal and managerial development and inmanagement.Enterprisingteamsaregivenadviceandsupportinthediversephasesoftheirmanagerialidea.Newmanagersaregivensupportandtraininginspecificareas.

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–PolytechnicUniversityofValencia(UPV)At this public university, we can find the InsHtute for the CreaHon and Development ofEnterprises(ICDE),whichisinchargeofthedevelopmentandmanagementoftheProgramIDEAS.WewillconcentrateonlyonthetrainingcoursesdevelopedbyIDEAS.TheCoursesonBusinessManagement:

FromtheIdeatotheProduct(20h) Budgetary Accountancy for Managers andEntrepreneurs(40h)

TheOperaHveandStrategicPlanningofanIntegralControl(30h)

Company TaxaHon, Legal FormsandLegalProcedures(20h)

PracHcalWorkshopISO9000(20h) Design of the Product and SuccessfulServices(20h)

PracHcal Accountancy for Managers andEntrepreneurs(40h)

DevelopmentofaCultureofServices(20h)

FinancesforNon‐professionals(20h) RecruiHng(20h)

C.ReviewofExisHngTrainingProgrammesonFamilyBusinesses.

–UniversityofAlicante.The summeruniversityRafaelAltamiraof theUniversityofAlicanteorganises the courseHtled“TheFamilyBusiness:ProblemsandSoluHons”.Itisashort‐duraHoncourse.Duringoneweekthecoursetriestoshowdiverseaspectsrelatedtothefamilybusiness:theconceptoffamilybusinessanditsimportanceintheeconomyofAlicante,theirmainproblems,thetools,whichexisttoconfrontthem,andsomeexperiencecomingfromtheapplicaHonofthosetools.

–CatholicUniversityofValencia.This private university organises the University Diploma in Management and Advice ofFamily Businesses. The diploma has a duraHon of one year. The fundamental objecHveof the University Diploma is to contribute to the learning of the instruments, tools andstrategies,applicablespecificallytothefamilybusinessessothattheycanachieveabeCerandmoreefficientdevelopment in themarketsandan increaseof their compeHHveness

and longevity. It combines specific theoreHcal conceptsof familybusinesswithpracHcalexperienceoffamilybusinessmenandoffamilymanagementconsultants.ThemethodologycombinestheoreHcallessonswithroundtablesformedbyfamilybusinessmenandbyfamilymanagementconsultants.Thecontentofthediplomaisasfollows:

Part1 TheFamilyBusiness.ConceptandCharacterisHcs

Part2 The GeneraHon Cycle of the Family Business: Challenges and ProblemaHcIndividualsineachOneofthePhases

Part3 InfluenceoftheValuesoftheFamilyintheConHnuityoftheBusiness

Part4 SuccessionandConHnuityoftheBusinessFamily

Part5 TheFamilyProtocol.BePreparedforProblems

Part6 The CommunicaHon and the ResoluHon of Personal Conflicts in the FamilyBusiness

Part7 OrganisingDesign:theProcessofInternalRestructuringintheFamilyBusiness

Part8 OrgansofGovernmentoftheFamilyBusiness

Part9 TheHumanResourcesintheFamilyBusiness

Part10 GrowthoftheFamilyBusiness

Part11 LegalRegimenoftheFamilyBusiness

Part12 FinanceandInvestment

Part13 AdvicetoFamilyBusinesses

IntheValenciaRegion,theimportanceofSMEsisenormousandtheproblemofsuccessfulbusinesstransferissimilartotherestofEurope.InspiteoftheimportanceofthequalificaHonofthesuccessors,thereisnospecifictrainingprogrammeaddressedtothismaCer.Inorderto improve the qualificaHon of future business successors and contribute to the survivalof the SME inValencia Region, itwould be convenient to develop a training programmededicatedtothisproblemaHcaspectofbusinessmanagement.

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Fusionesyadquisicionesdeempresas

AnalysisofProcessesofMergerandAcquisiHonofEnterprises.

JoséMªAlvarezArjona,AngelCarrascoPerera.Pamplona:Aranzadi,2004

LatransmisióndeempresasenEspaña

AnalysisoftheProcessofBusinessTransmissioninSpain.

JoséMªViedmaMarH,JorgeAmadoGuirado.Barcelona:Viama,1993

Elvalordelaempresa:elementoestratégicoenlaadquisicióndeempresas

AnalysisoftheImportanceoftheProcessofValuaHonoftheBusinessbeforetheProcessofAcquisiHon

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ConsideracionesprácHcasenlaventayadquisicióndeempresas

AnalysisfromaPracHcalPerspecHveoftheProcessofSaleandAcquisiHonofEnterprisesinSpain.

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Problemasdelatransmisióndelaempresafamiliar

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LaconHnuidaddelaempresafamiliar:gesHón,propiedad,negocio,sucesión,familia

MainAspectsofFamilyEnterprises

JoanM.Amat.Barcelona:GesHón.2001

Empresafamiliarysucesiónpatrimonialprogramada

AnalysisoftheProblemsConcerningtheSuccessionofFamilyEnterprisesinSpain.

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Laempresafamiliar:manualparaempresarios.ClaveslegalesparasucorrectaorganizaciónysuconHnuidad

MainApectsofFamilyEnterprises

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BarbeitoRoibal,S.,GuillénSolorzano,E.,Mar�nezCarballo,Manuel;DomínguezFeijoó,Gerardo.Bole�nICEEconómico:InformaciónComercialEspañola,2004NOV1‐7;(2822)

ImportanciadealgunascaracterísHcasrelevantesdelossucesoresenlasempresasfamiliaresgallegas

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PracHcalGuidebookforCreaHonofaBusiness.

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