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Transfer of business
Our experience has shown us that it is crucial to deal in time with the subject of transferring a business/lifework. So time is a prerequisite for an optimal transfer.
In this context an optimisation is not only understood as saving taxes, but rather the economic and emotional result of all involved parties.
An unsuccessful transfer must not be underestimated by all involved parties, because it could cause huge financial distress.
A well regulated transfer definitely minimises the default risk of the bank, and can therefore have a positive affect on the rating when the soft facts are evaluated. A well regulated transfer is also very important in the range of the business safeguarding.
When transferring or selling an idea or business the former owner has to solve lots of tasks.
During the transfer of a company corporation law, civil law, law of succession and other legal effects must be considered. As a result of our experience we developed different check lists which will be worked on in a chronological manner.
Frequently business transfers only result out of fiscal considerations, in our opinion this is not enough.
The seller should be able to answer the following question prior to the transfer:
“How does the transfer of the business /lifework effect my personal life?” The same applies to the buyer.
Questions of principle for the seller
- Does the seller know what he/she wants?
- related to his/her family
- related to the business
- Is the successor known?
- Is the successor coming from
- the family?
- the employees - employee involvement?
- Is the successor trained in time? Is he/she already within the company?
- Discussion of the planed asset transfer with all beneficiaries to avoid conflicts
- Economic and legal coverage of the seller
- Determination of the transfer at a given time and optimal time to retire
Questions of principle for the buyer
- Does the buyer know what he/she wants?
- Is the buyer ready to accept the responsibility?
- Is the transfer discussed with his/her family?
- Is he/she really willing to take over?
The questions above show that for a successful and satisfying result a lot of time is necessary.
In the course of mediation the mediator can provide the assistance to answer the questions of principle.Know how is not the only thing we provide in this area, we also accompany you if you wish!