Regional succession program for owner managers in 9 municipalities. Specific 1 to 1 programme with sparring, advice and clarification of the owner manager.
Succession planning is challenging for most owner managers due to the fact, that succession only happens once in a life time. At Fyn many companies are facing succession. The programme therefore focuses on clarification and awareness of the seller.
Companies were selected from a public company database on criteria like age, size, line of business etc.
The program offered 4 meetings:
- Introduction with mutual presentation of the programme and the company. Finally a 360 degrees analysis of the situation.
- Clarification with feedback of the analysis and advice how to proceed.
- Advice on specific thematic and how to solve challenges
- Evaluation and next step. (How far is the owner manager with the preparation and where to get further specialized advice and support)
The main stakeholders were local advisers in the line of business development, strategy, accounting, law, business brokers etc. The local companies and owner managers did benefit from the programme.
One consultant full time (1 year)
Back office support (half time)
Funding of meetings for companies and advisors and costs to facilitate meetings (catering, room etc.). Costs approx. euro 5.000 yearly.
Marketing materials approx. euro 5.000 yearly.
Evidence of success
64 companies did participate (total 891 jobs)
45 fulfilled programs
Survey shows an outstanding high level of satisfaction.
Potential for learning or transfer
This programme has been very successful due to the clear focus:
- Business succession
- Owner managers
- Micro and small companies
- Line of business (handcraft, service, light production)
- Involvement of advisor
- Dedicated consultant with the programme as only task
In a short period, many companies were contacted and took part in the programme. As the figures show:
- Information meetings for 136 participants (companies, owner managers)
- 64 companies participated and 45 fulfilled, of them 20 companies made a business succession which gave effect into 891 jobs.
- Workshop for 98 advisors
The programme created awareness at many levels in the region. Also, other institutions were involved like e.g. financing.
Only negative point is, that the programme closed after 2 years due to funding.
It can be highly recommended to create an ongoing programme with at least one full time consultant plus budget for workshops, marketing and other relevant actions.