In some activities, taking over a company can enable a quicker start and better conditions : an existing structure, an existing team and a customer portfolio. All of these elements make it possible to better plan for the future, in terms of growth and turnover. Another advantage is that it saves time: namely the search for suitable premises, the recruitment and training of staff, and the implementation of a launch strategy.
To ensure an effective takeover, developing an entrepreneurial vision that is in line with one's professional skills and personal qualities and that takes into account the equity capital actually available is necessary.
Transferring his business is an important step for an entrepreneur, with an impact on himself and his business. The process of transferring a business can therefore take several years, from the decision-making until the actual moment of the transfer to a new manager.
In order to maximize their chances of successfully passing on their business, the transferring must be prepared and, before all, be well informed.
To avoid possible pitfalls, here are some golden rules:
- Take your time and do not wait too long before starting to think about the transfer,
- Talk about your project to those around you,
- Be clear with yourself about what you want to do or not
To ensure a successful takeover, the House of Entrepreneurship of the Chamber of Commerce, in partnership with the Chamber of Trade and the Ministry of the Economy, offers a national platform that brings together all the offers of transfer and takeover of companies established in the Grand Duchy.
The platform offers an offer made up of the following services:
- assistance with projects for the sale or takeover of companies based in Luxembourg
- a connection procedure via a Matching service
- the possibility of posting or viewing announcements.
The purpose of the support service is to analyze the feasibility of the disposal project in light of the elements communicated by the transferring. The support service makes it possible to define - together with the transferring - the key stages and the measures that he must accomplish in order to formalize his disposal project.
The Businesstransfer team of the Chamber of Commerce and the Chamber of Trades can accompany you throughout the successive stages of the process. A specific training course on "taking over a company in practice" for buyers, has also been designed in collaboration with the House of Training.
- House of Entrepreneurship
The House of Entrepreneurship brings together all the stakeholders involved in the value chain of business creation in Luxembourg and offers a range of services to businesses throughout their life cycle (information on business creation, development and transfer, digitalisation, financing and networking). Contact us by e-mail at email@example.com or by telephone on +352 42 39 39 850.