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Humberside CDA aims to raise awareness of the business options available
to small firms when they are threatened with closure either as a result of
succession problems or as a result of divestment.
It
is estimated that 30,000 companies in the EU close each year through bungled succession,
threatening some 300,000 jobs. Many of these companies are not uncompetitive
or failures in the market place, but fall victim to the lack of knowledge of
their owner-managers and advisors as to options available.
Succession
has been identified as one of the major problems facing business owners. Many
owner-managers on retirement see no way of liquidating the assets bound up in
their business without either simply selling up the tangible assets, which
may only be a fraction of the value of the business, or selling to a
competitor (which may then asset strip or close the business down). A
profitable business and jobs are lost.
After Employee Ownership Scotland
& Employee Ownership Options (EU ADAPT Programme 1999)
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