Business Transfer as an Engine for SME Growth
By Miriam Koreen, Susanne Schlepphorst, and Lora Pissareva
Business transfer represents a critical stage in the life of many SMEs. With the ageing of the population in many OECD and G20 countries, the volume of business transfers is expected to increase sharply. Successful business transfer of economically sound SMEs is crucial to retain employment, drive business dynamism, ensure continuity in production processes and business relations, and preserve the value of assets. There is a need to improve the evidence base on business transfer trends in order to provide appropriate support; raise entrepreneurs’ awareness of the importance of early succession planning and of acquisition opportunities for new entrepreneurs. Many countries have recognised the importance of the issue and are taking action to improve business transfer conditions.