Succession is female!

On the national day of action of the nationwide agency for female founders (bga) on business succession by women on21 June, stakeholdersare offeringevents throughout Germany under the motto "Succession is female!"to promote the topic. Gründerinnen-Consult is the regional head of the bga - and pursues a holistic and target group-specific approach within hannoverimpuls' start-up support program in order to provide women with targeted support on their path to self-employment. The hannoverimpuls start-up department cooperates with the Hannover Region Economic Development Agency in the area of business succession. An interview with ThomasLöhr from the Hannover Region's business advisory service.

Thomas Löhr, handing over a family business to the next generation or selling the company is a challenge for everyone involved. How can we imagine the cooperation between hannoverimpuls - or, in the case of succession for women, Gründerinnen-Consult - and the Hannover Region at this point?

The collaboration is great! I was on the hannoverimpuls team myself for a long time and know most of the players personally, so we work really well hand in hand. We from the region look after the existing companies, while hannoverimpuls - and Gründerinnen-Consult in the case of women - take care of start-ups, expert opinions for start-up grants and other things. We approach the topic of company succession from the perspective of the "transferor", so to speak, which is why we provide the support.

What is the ratio of women to men in business succession?

Women have found their place in company management, are becoming more self-confident and increasingly have the confidence to do so. There are still more men in the succession process, but in the past two years, for example, I have advised around 40 women on potential business succession, 19 of whom have actually taken over the business. This rate is significantly better than that of men. Women have generally already given a lot of thought when they come to us for advice and are well prepared. Overall, they are more likely to make use of our advisory services.

Taking over a company as a successor or starting a new business - what do you recommend to women who want to launch their business idea on the market?

For me, a company succession is clearly the better foundation if a company is found that fits the bill. You then already have business premises, qualified employees and an established company. That's why I definitely recommend sounding out the market and looking into the topic of succession if you are interested in starting a business. As a region, we operate the portal rfolg.com, the succession database of the Hanover and Hildesheim regions, with partners, for example, and there are also nationwide company exchanges such as nexxt-change.org

Further information on the National Day of Action for "Business Succession by Women" can befound here:https://www.existenzgruenderinnen.de/DE/Unternehmensnachfolge/NationalerAktionstag/nationaleraktionstag_node.htmlLGU

The starting position on the market is really good for those who want to take over. At this point, I like to say to existing companies: "Only those who understand that the deal that comes about must be the best possible alternative for those who want to start their own business will be able to make a deal." If we know the needs of a female founder, we are also happy to contact potential companies directly to see if they are interested in a successor. We support a wide range of takeovers: from online retail and HR development to trades and logistics, we cover everything.

In your experience, how long does a company succession handover process take?

After getting to know each other, interested parties should expect an average handover period of around nine months.

What special features or specifics might there be for women in business succession?

I no longer see any special challenges or other approaches in my advice, because fortunately it is already very natural on an individual level. For example, I ask everyone who comes to me for advice whether their partner will support and contribute to their start-up project - this is just as natural for women as it is for men. However, studies in the start-up sector clearly show that women are structurally and systematically disadvantaged when it comes to issues such as lending, investor volume and valuation. There is still a need for research in the area of company succession. A potential succession should therefore always be well prepared in good time so that all needs can be optimally taken into account - and a life's work can be continued in such a way that everyone involved feels comfortable with it.