If you want your company to continue after your retirement, a business transfer can be an attractive solution. But how do you approach it in practice?
The journey from owner to successor involves far more than transferring shares. It requires preparation, expertise and a clear view of what you want to achieve personally and professionally.
Starting the process
The first step is to determine what you want the transfer to achieve. Do you want to find a suitable successor who can keep growing the business, or are you aiming for a full sale? Once the objectives are clear, the search for the right buyer or successor can begin.
Different transfer scenarios
- External transfer: ownership and operations pass to an external party.
- Family succession: the business stays in the family and management passes partly or fully to a family member.
- External management: ownership remains with the shareholders while an external management team takes charge.
- Employee participation: the existing management acquires part or all of the business.
The right expertise around the table
You do not complete a business transfer alone. A financial adviser helps with strategy, valuation and transaction structure. A lawyer safeguards contractual protection. A coach or trusted sounding board can help with the emotional distance such a turning point requires.
According to VLAIO, the average business transfer can easily take five years. Start in time, involve the right people and communicate openly with your partner, family and — at the appropriate moment — employees.