Our managing director Jörg Dötter has published a practical guest article in PT-Magazin analyzing the biggest challenges of business succession in mid-sized companies (Mittelstand). In the article, he shows why handing over a company is more complex today than ever before and which typical mistakes entrepreneurs should avoid. The article is based on current market data as well as many years of consulting experience.
Germany Is Facing a Major Succession Wave
According to KfW, around 109,000 owners of small and mid-sized companies plan to withdraw from their businesses every year through the end of 2029. At the same time, the number of businesses that cannot find a suitable successor and are considering shutting down is growing. Finding a suitable business succession solution is therefore increasingly becoming a strategic challenge for mid-sized companies.
In his article, Jörg Dötter describes five typical pitfalls that can jeopardize succession processes – from emotional decision-making to structural errors in planning.
The Most Common Traps in Business Succession Include:
- The Clone Trap: Successors are sought in one’s own image rather than according to the requirements of the future.
- The Crown Prince Trap: Long-serving executives are automatically regarded as successors, even though they may not aspire to the role of entrepreneur at all.
- The Prince Harry Trap: Family expectations override an objective assessment of suitability for running the company.
- The Time Trap: Many companies start planning too late, although a successful handover process often takes several years.
- The Culture Trap: The focus is on professional qualifications, while cultural fit and leadership skills are underestimated.
Furthermore, Jörg Dötter highlights the specific measures mid-sized companies can take to avoid typical risks – such as planning the succession process early, clearly defining the leadership role, and selecting suitable candidates in a structured way.
The guest article makes clear that successful business succession depends not only on the right person but above all on a clearly structured process – from defining the requirements profile through the candidate search to the supported handover phase.
You can find the full article here: Die 5 Fallen der Unternehmensnachfolge – und wie Mittelständler sie vermeiden | PT-Magazin
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