Whether they are commercial, craft or industrial - SMEs, 70% of which are family businesses, are an essential component of the Luxembourg economy. However, the question of their transmission is becoming increasingly important. In the next ten years, many owners and managers will have reached retirement age, but few have really anticipated the end of their activities. Here are the key points to watch out for as an owner or manager of a family business.

Whether they are commercial, craft or industrial - SMEs, 70% of which are family businesses, are an essential component of the Luxembourg economy. However, the question of their transmission is becoming increasingly important. In the next ten years, many owners and managers will have reached retirement age, but few have really anticipated the end of their activities. Here are the key points to watch out for as an owner or manager of a family business.

There is no easy answer. Implementing governance in family businesses can indeed be complicated, as emotions linked to family ties tend to drive decisions where more objectivity is needed. These pitfalls can be a hindrance to the rational transfer or divestment of a business. How can you avoid them if you are the transferring manager?

Whether they are commercial, craft or industrial - SMEs, 70% of which are family businesses, are an essential component of the Luxembourg economy. However, the question of their transmission is becoming increasingly important. In the next ten years, many owners and managers will have reached retirement age, but few have really anticipated the end of their activities. Here are the key points to watch out for as an owner or manager of a family business.

The bank is naturally a key partner, alongside specialist advisors, when it comes to financing the transfer or takeover of a business while ensuring that it continues to grow.