Handing over one’s own business is a challenging topic. Many entrepreneurs find succession difficult. Even if, like one of our clients, they deal with it at an early stage: Frank S., a medium-sized entrepreneur in his early sixties, had started to deal with the issue of succession in his mid-50s. So, he was well on time. It was clear early on that his only son would not take over the company. So how to proceed? Sell the company? In order to get this complex decision right, Frank S. called in an expert.
Posts
“Will the company continue? What do you mean? Yes, what else?”
This is a typical reaction of many managing directors when they are asked about the problem of whether a running business is to be assumed in a valuation of the company. The reason for this question may be overindebtedness or payment problems. In this case, the regulations of insolvency law give reason to assume that the company (GmbH, AG, GmbH & Co. KG) can no longer be continued. Therefore, in this situation, the management responsible for preparing the annual financial statements should not rely on the fact that it can continue to prepare the balance sheet at going concern values. It must first be ensured that the going concern premise is met, i.e., that it can be assumed in the evaluation of the company’s activities that it can be continued.
It’s the combination that makes the difference! Different skills, practical knowledge and solid expertise are the basis of our business. As diverse as our team is, our common basis is our affinity for medium-sized businesses and for the people who shape them.
Our Consulting Partner Karin Scherer
“If you want to know something, ask an experienced person and not a scientist” – Chinese wisdom
What was previously very good for SMEs, but not mandatory, is becoming a “must have”: CSR reporting is moving into the SME sector and will be given a permanent place in the management report as of 1 January 2024. This puts non-financial, i.e. sustainable reporting, on the same pedestal as financial reporting.
The EU Commission’s planned changes to the extended reporting obligation are not surprising; after all, the sustainable contribution of all companies plays an important role in Europe’s sustainability transformation. Here, reporting is the toolbox to ensure the implementation of these sustainable economic measures.
Do our tables, windows and wallpaper actually need an IP address? This is one of the questions asked by Sven Gábor Jánszky (trend researcher, organizer of the annual Future Congress and Executive Director of the 2b AHEAD ThinkTanks) in his presentation on “Future Paths 2025” at the Vision Forum.
