Understanding the process of external business transfers is often challenging. How can this topic be made more accessible? This question inspired Fabian Rudin and Yves Süess, co-founders of Business Transaction, to create a dedicated knowledge portal.
With around 300 successful transactions under its belt, Business Transaction is now one of Switzerland’s leading providers of business transfer services for Swiss SMEs. Since its founding in 2014, Fabian Rudin and Yves Süess have offered an online information portal to make the subject of external business transfers more accessible."
Why did you create this knowledge portal about business succession?
Fabian Rudin: Studies show that entrepreneurs often struggle to find successors within their families or among trusted individuals within their companies. As of March 2024, more than 100,000 Swiss SMEs faced succession challenges. Transferring ownership to a third party has become an increasingly popular solution, but it often brings fears, uncertainties, and – most notably – misconceptions.
Despite the high demand, reliable information about external business successions is still hard to come by. From thebeginning of our company, this inspired us to share the knowledge we’ve gained in this field through a dedicated platform, making the topic more accessible to a wider audience.
What sets our platform apart is its simplicity and clear structure. Entrepreneurs and their successors can find first-hand, practical information tailored to their needs. Our mission is to address these often complex topics in a straightforward way while also dispelling myths surrounding business sales.
What topics are covered?
Rudin: We aim to cover all aspects of external business succession, including questions like "What is my business worth?" and "What tax implications should I anticipate when selling my business?" We also delve into more specific issues, such as "How should hidden reserves or real estate be managed in a business sale?" and "How can fair purchase price mechanisms be determined, and when is the right time to address them?" In addition to these topics, the portal features real-world examples of mergers and acquisitions, along with testimonials from advisors, offering practical insights that complement the articles.
Do you also publish studies on the topic?
Rudin: While our advisors are deeply engaged in their daily responsibilities and can’t conduct scientific studies themselves, we actively support researchers. For example, we collaborated with the University of Applied Sciences ofEastern Switzerland on the Innosuisse project "Data Balance for SMEs," and the results are available on our portal.
When evaluating the feasibility of business succession, we draw on both our extensive experience and a comprehensive database.
What did the Innosuisse research project involve?
Rudin: Information about a company’s clients, suppliers, products, and internal processes is diverse but highly valuable for determining a business's worth. However, some of this data may be lost over time or, in some cases, misused. The aim of the project, led by Professors Rigo Tietz and Wilfried Lux, was to develop a simple, practical tool to evaluate all these parameters effectively.
What advice would you give to business owners planning their succession?
Rudin: It’s always difficult to give general advice, as the specifics of a succession process depend greatly on the individual situation and context. That said, one rule always applies: start planning your succession well in advance rather than leaving it to the last minute. This gives entrepreneurs the time to explore all available options and carefully evaluate potential successors, ensuring the best solution for both their business and themselves. By removing the pressure of time, they can navigate what is already an intense process with much greater ease and clarity.
Biography
After earning a degree in business economics from the Zurich University of Applied Sciences (ZHAW), Fabian Rudin began his career in consulting. He was one of the first employees at Business Broker, a company specializing in succession planning and the sale of SMEs. After five years with the company, where he eventually became a member of the management team, he co-founded Business Transaction with Yves Süess in 2014. The independent consulting firm specializes in providing end-to-end support for business transactions involving Swiss SMEs. For over a decade, it has guided business owners through the entire sales process, from valuation to the finalization of contracts.
In discusion
Last modification 08.12.2024
