Promotion of business transfers in the Baltic Sea Region

Book excerpt: The ageing of society does not stop at company owners. More and more companies have to be handed over to the new generation. This process is a challenge for all parties involved. The support of business transfer assistance is just as essential for the European economy as the promotion of start-ups because both are critical to the development of the European economy. Over 450.000 firms with over two million jobs are transferred to a new owner in the EU-28 each year. Around one-third of these transfers fail, and the companies are closed. The future growth and sustainability of innovative companies in the Baltic Sea Region are severely limited by failed business transfers. Furthermore, due to a lack of available and appropriate successors, many firms are liquidated rather than transferred. This publication is part of the project INBETS (www.inbets.eu), highlights the background to the current situation of business transfers in the Baltic Sea Region, and proposes a policy program to promote business successions and open up new target groups of potential successors. Part-financed by the European Union (European Development Fund and European Neighbourhood and Partnership Instrument) within the INBETS project. This publication does not necessarily reflect the opinion of the European Commission.