An important stage in a company’s life is the way it is passed on to the next owner. The business person in question needs to be prepared for the various phases of this complex process at the right time. Various initiatives have already been put in place in Belgium and throughout Europe aimed at supporting, informing and coaching entrepreneurs in transfering of or taking over businesses.

The BeCeFi has carried out a study in which it has mapped out the way companies are passed on in Belgium. Using an approach that is both quantitative and prospective, the BeCeFi uses the study to describe the number and the key characteristics of the companies which, over the next ten years, will potentially be passed on to a new owner following the original owner’s retirement. It also includes an assessment of the overall economic and jobs-related effect of not transfering the business at all, or doing so badly.

In September 2007, the BeCeFi published an initial study on business transfer in which it analysed, qualitatively and quantitatively, the problems facing Belgian SMEs in terms of financing when it comes to passing them on to a new owner. The qualitative part of the study consisted of a summary of the reference literature and expert opinion on the subject. The quantitative part presented a statistical analysis of the credit or guarantee applications in the context of financing the change of ownership for SMEs, drawing useful conclusions from them and leading to recommendations for dealing with these problems as effectively as possible.

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On 6th October 2011, the Minister for SMEs, Self-Employed, Agriculture and Scientific Policy, Sabine Laruelle, is organising a colloquium on the change of company ownership as part of European SME Week. The colloquium will be divided into three parts, addressing the questions of the inventory of fixtures drawn up for the business transfer, the financial and tax-related aspects and the various milestones in the process. The BeCeFi will be taking part in the event and contributing its expertise.

• State of affairs concerning business transfer

• The challenges of transferring businesses in Europe
  Speaker: Marko Curavic, Head Transfer of Business policy, DG Entreprises of the European Commission
  Consult the presentation here.
  
  
• Business transfer in Belgium: a map out of the companies concerned
  Speaker: Frédéric Lernoux, managing director, BeCeFi
  Consult the presentation here.
  
  
• Testimonial of an entrepreneur/transferee
  Speaker: Louis de Valensart

• The financial and fiscal aspects

• The fiscal side of business transfers
  Speaker: Pierre-Frédéric Nyst, lawyer-fiscalist
  Consult the presentation here.
  
  
• Non-bank financing of business transfers: an example of a business transfer fund
  Speaker: Alain Groignet, financial specialist, AG Consulting
  Consult the presentation here.
  
  
• Bank financing and the question of the guarantees
  Speaker: Freddy Van Bogget, Head Business Credit, KBC
  Consult the presentation here.

BeCeFi gives an overview of the different possible financing sources for taking over a company.

• Business transfer tools – panel discussion

• The regional operators, the European platform Transeo: what is the view on business transfers, what instruments and what support is there for entrepreneurs?
  
  Panel members: Jean-Pierre Di Bartoloméo (chairman of Transeo international non-profit organisation), Luc Van Laere (project manager Overnamemarkt), Bruno Wattenbergh (director of the Brussels Entreprise Agency; BruTrade), Christine Margrève (manager Sowaccess)