Succession is a natural and necessary challenge that every family business must face to maintain the continuity of its business. However, passing on power, assets, knowledge, and responsibility to the next generation is not easy, both for the founder and their successor. The best way to eliminate the risks associated with succession is to properly plan the process.
The prepared strategy will introduce the new generation to the world of the business they have run for many years and will enable them to implement the principles and values that the successor should adhere to. Therefore, developing a shared vision for the future of the company and building trust with the senior leader is crucial, which will allow for the transfer of power and empowering the successor to make their own decisions.
In order to prepare a succession strategy, we encourage you to take part in the project "Succession in family businesses - supporting the transition between generations" (POWR.02.21.00-00-0017/18), which we are implementing together with the consulting company Nova Praxis Sp. z o. o. The project is 90% co-financed by the Polish Agency for Enterprise Development (hereinafter referred to as the "Project").
The project allows for the development of a personalized succession strategy tailored to the client's needs. It is divided into four stages, each aimed at conducting a business analysis and identifying the needs and expectations of both the successor and the successor. The project offers advisory support in legal, organizational, financial, and mediation areas.
The funds obtained under the Project are intended for:
- support from advisors who will diagnose the situation in the company,
- designing a succession strategy in legal, financial and organizational terms,
- assistance in solving communication and personnel problems,
- assistance in starting the process of implementing succession in the organization.
What are the benefits of participating in the Project?
By participating in the Project you will receive, among others:
- professional legal, financial and organizational support, 90% financed by European Union funds,
- assessment of the company's condition and situation with professional advice tailored to its results,
- specialized support from experts in the field of law, organizational and management, economic and financial, and mediation,
- assistance in solving communication and personnel problems in the company,
- a product in the form of a succession project (strategy), which will include, among other things, a plan for transferring power and property to the successor.
The project is primarily intended for family businesses in the SME sector, where family members are employed or co-owners of the company. Furthermore, it is essential that the company is willing to contribute its own capital and is eligible for de minimis aid.
If you would like to participate in the Project and receive professional assistance, please contact us.
This article is for informational purposes only and does not constitute legal advice.
Legal status as of August 9, 2023
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