Germany’s succession crisis threatens thousands of businesses without heirs
Germany faces a looming challenge with tens of thousands of companies potentially closing down in the coming years due to a lack of successors. This issue has significant implications for the economy, competition, and consumers. One company, NEXTRA Strategy, is stepping in to help business owners navigate this critical transition.
NEXTRA Strategy's approach is proactive and tailored to each business. They support clients long before the sale process begins, adopting the buyer's perspective to ensure a smooth transition. Their five-step process involves meticulous preparation, a crucial factor in successful succession.
The company's Exit Ready Platform allows business owners to independently track and manage their succession progress. This tool, combined with NEXTRA Strategy's customized solutions, has already helped many entrepreneurs reduce their entrepreneurial risk through partial sales. However, not all business owners are equipped with the expertise to execute a successful sale and prepare their company effectively for succession. According to NEXTRA Strategy, 28 percent of businesses seeking advice are already considering closure due to a shortage of suitable successors, highlighting the urgent need for such services.
The failure of companies to transition successfully represents a lost market offering with direct consequences for the economy, competition, and consumers. NEXTRA Strategy is committed to helping businesses find the right path to a secure and profitable transition. By doing so, they are not only supporting entrepreneurs but also contributing to the broader economic landscape of Germany.
