Glossary
External Succession
The company goes to a person outside the family and the existing workforce, for example through a management buy-in. According to IfM Bonn (a German research institute for small and medium-sized businesses), this most recently accounted for around 29 per cent of handovers of family businesses.
Related termManagement Buy-in (MBI)An outside person buys into a company and takes over its management at the same time.Next Read moreFounding through acquisition: How to start with customers, a team and cash flow.Next
FAQ
Frequently asked questions
What is external succession?
The company goes to a person outside the family and the existing workforce, for example through a management buy-in.
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