Between the chairs – Company succession from the
perspective of an affected party
The construction industry, and in particular the sector of precast concrete producers, is strongly characterized by family businesses. These are considered the backbone of the German economy and are characterized by their long-term, sustainable economic practices and high willingness to invest.
The entrepreneurial families, on the other hand, are perceived in so many different ways: the media landscape is often dominated by power games, quarrels and extroverted personalities, but when examined more closely, many are also seen as generous and straightforward.
Sooner or later, every family business will have to face a particular challenge: the transition from one generation to the next. There is hardly any other place where decisions made in the world of business have such a strong impact on people’s personal lives and vice versa. The process is often characterized by strong emotions, expectations and disappointments. It affects not just those handing over the reins and those taking over, which is often complicated enough, but also, for example, siblings who were not included in the succession.
As complicated as the generational transition is, it is also easy to lose focus, especially for those handing over the reins: nobody likes to think about the finite nature of their own creative energy. At the same time, the entrepreneur is responsible for the continued existence of his or her own company.
To ensure the successful transfer of business ownership to the next generation, it is therefore crucial to deal with the matter on a regular basis and at an early stage. It is also important to examine one’s own expectations: the world is constantly changing so that it would hardly make sense for the next generation to do everything in the same way as the previous one.
