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01 Jun 2021

The time to start the business transfer process is now!

Changes in ownership were a hot topic a few years ago. What is the situation now and what is the demand for business transfer counselling?

Tens of thousands of companies in Finland and thousands of companies in the municipalities that own Keuke, a business development company, are looking at a change of ownership in the near future. It is important for the vitality of business life that as many viable companies as possible find buyers or successors.

We at Keuke wish to alert entrepreneurs to the fact that the business transfer process should be begun in good time and also make those hoping to become entrepreneurs aware of how the path to entrepreneurship may also begin with a business transfer.  There is a demand for this kind of counselling, and you should not hesitate to contact us if you have any questions.


Where does the business transfer process begin? 

Companies should start to prepare for ownership changes sufficiently early, some three to four years before it is to happen. It is often considered a risk factor if the business operations are personified into the entrepreneur, and it might also hinder sales. To prepare for the transfer, it would be wise to begin delegating responsibilities and disseminating knowledge to other key persons in the company in good time, long before there is even a buyer on the horizon.

When planning to sell a company, it is crucial to ensure that the company and its economic figures are in order. The best-case scenario would be to have the company in a condition that is fit for sale at all times. You would do well to contact Keuke so that we could chart your company’s situation together.


How much time should be reserved for a successful business transfer?

The business transfer process lasts some 10 months on average, but very often it stretches to over a year. The seller can make the process flow smoother in a lot of ways. The easier it is for the buyer to gain an understanding of the company's business operations, the easier it is for them to seek the required funding.

When the seller can provide the buyer with an up-to-date business plan, budget and financial information, the process will proceed a lot smoother and the likelihood of completing the sale increases. Keuke's Entrepreneur Interpreter service (Yritystulkki) contains ready-made templates for business planning.


How can buyers and sellers find each other?

The entrepreneur should first look for a potential successor from among the company’s personnel, partners, competitors or customers, or from among their relatives.  These people are already familiar with the company's operations, and they may have already thought about continuing the business once the current owner leaves the helm. There are also several business sale services, such as the Company Exchange (Yrityspörssi), that help entrepreneurs sell their companies. Those thinking about buying a company also use these channels to find businesses that interest them.


What aspects of business transfer can Keuke help entrepreneurs with?

We at Keuke give advice to companies undergoing or planning a change of ownership. Our counselling is offered to both sellers and buyers as well as both retiring owners and successors of family companies. We help companies plan the stages of their business transfer process and survey the available alternatives and people's ambitions.

We can also help survey the object of purchase to serve as the basis for defining and justifying its value. We can also help entrepreneurs with the creation of the sales material.


Today is as good a day as any to prepare for a business sale!

 
 
 

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Keski-Uudenmaan Kehittämiskeskus Oy

Business Development Centre Ltd. Helsinki Region North
Puuvalonaukio 2D, 2. krs, 04200 Kerava

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050 341 3210

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keuke@keuke.fi

 
 
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