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Startseite » Network & support » Advice and points of contact » Business succession: an opportunity for the future

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Business succession: an opportunity for the future

Taking over a business can be a springboard into self-employment. You benefit from an existing customer base, orders already on the books, an established team and proven processes. At the same time, both you and the business gain an opportunity for the future.

Startseite » Network & support » Advice and points of contact » Business succession: an opportunity for the future

Business succession as a future prospect

Every year, thousands of businesses in Germany look for someone to take over. Companies in the Goslar district also regularly need successors when no family member or employee can take over.

Taking over a business gives founders a solid foundation on which to develop their own company. It’s an exciting process that breathes new life into businesses and secures their future.

START WITH CAREFUL PLANNING

Opportunities and risks of taking over a business

Advantages of taking over a business

Proven business model:

The company is already established in the market and has tested processes.

Existing customer base:

Existing customer relationships can make the transition easier and provide continuing revenue.

Experienced staff:

Established teams and their expertise are often retained.

Established market presence:

A familiar name or established brand can build trust among customers and business partners.

Existing infrastructure:

Premises, machinery, IT systems and other operating resources are often already in place.

Faster business launch:

Compared with starting from scratch, business operations can continue immediately.

Preserving jobs and expertise:

For owners handing over a business, succession offers a way to continue their life’s work and safeguard jobs.

Disadvantages of taking over a business

Taking on existing structures:

Established processes or company cultures cannot always be changed quickly.

Investment needs:

Modernization or necessary adjustments may require additional funding.

Careful assessment required:

Employees, customers and business partners need time to adjust to new management.

Coordination with those involved:

Commercial, legal and tax aspects should be reviewed thoroughly before the takeover.

Financing requirements:

The purchase price and possible subsequent costs may require solid financing.

Taking on existing obligations:

Contracts, ongoing projects and other obligations may be part of the takeover.

Familiarization period:

Even with existing structures, you need time to understand the processes, customers and business.

Key steps in business succession

Compare expectations and conditions

between the company and prospective successors.

Talk to banks and advisors

about tax and legal questions.

Purchase the company

and develop the business step by step.

DIRECT CONTACT

Business succession advice

Interested in taking over a business? Or do you own a company and need someone to succeed you?

Contact our business succession advisors early. We provide impartial, confidential advice to both owners and successors. We connect you with relevant contacts at chambers, banks, universities and public authorities. We offer impartial guidance and moderation as you initiate and carry out the handover. Together, we can safeguard jobs and give businesses a future.

WiReGo

Anja Blümel

Business succession advice, equity investment fund, advisory network

SHARE EXPERIENCES

Learn from others to move your project forward.

Find support in our community:

Sharing ideas and learning from others can help your business grow. No question is too small—ask whatever helps you move forward.

EVENTS

Seminars, workshops, community meetups and more

Don’t leave your success to chance!

Business succession: an opportunity for the future

Business succession as a future prospect