More than 170,000 family businesses employ almost 1.9 million people and have a turnover of more than 400 billion euros. According to KMU Forschung Austria, up to 51,000 companies will be handed over in this decade.
In order to avoid conflicts, Bankhaus Spängler has developed a completely new version of the “Austrian Code for Family Businesses”. It is intended to be a helpful guide. A commission made up of scientists and representatives of family businesses was involved in the creation – for example from Erema, IFN Holding and Reichl und Partner. Bankhaus Spängler has already accompanied more than 100 companies during the handover.
“The succession process is an adrenaline rush for every company,” says Werner Zenz, CEO of Bankhaus Spängler: “And it’s the critical success factor.” In the code, for example, the topic of external management has gained in importance. Mixed management structures make a lot of sense, as Bankhaus Spängler itself shows, says Zenz. The banking institute based in Salzburg and located in Linz has existed for almost 200 years, external managers are just as active as the seventh generation.
Involve early
“Every family has a unique range of traditions, wishes, fears, demands and role models,” says Elisabeth Kastler, Head of Family Management: “These must be addressed and consciously sensitized.” The topic of involving and introducing the next generation at an early stage also plays a major role in the Code.
Johann Penzenstadler, regional manager for Upper Austria at Bankhaus Spängler, says consultations take place in the regions and follow-up processes often take several years.
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Editor Economics
a.zens@nachrichten.at
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Source: Nachrichten
