Glossary
Family Succession
The company is handed over to children or other family members. According to IfM Bonn (a German research institute for small and medium-sized businesses), this used to apply to just over half of family businesses, though its role has been slowly declining.
Related termExternal SuccessionThe company goes to a person outside the family and the existing workforce, for example through a management buy-in.Next Read moreBusiness succession in Germany: how it works and why it needs foundersNext
FAQ
Frequently asked questions
What is family succession?
The company is handed over to children or other family members.
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