Transferring your company successfully

A man and a woman shake hands during a (work) meeting

The success of a company transfer requires a great deal of preparation for both the owner and successor. Here are some explanations and advice.

Change and development are an integral part of the life of an SME. Companies are set up and their founders make them prosper. They go through successes and crises, and are then sold or transferred to successors, even sometimes liquidated.

The transfer of a company is the process allowing its owner to assign his or her asset to a successor. For both owner and successor, it is important to find out what steps should be taken. Since the process, on average, takes several years from start to finish, the owner is advised to start the thought process about transferring the business as early as possible, to avoid nasty surprises and ensure a smooth handover. An informed transferee will not undertake anything without having first carefully examined the accounts and health of the company that he or she wishes to take over.