What are the contexts in which business transfers take place?
The transfer process is greatly influenced by the contexts in which it takes place. Before engaging in the transfer process, it is crucial to understand and evaluate these contexts. Five of them are especially important: the macro-environmental context, the industry, the business to be transferred, the family of the incumbent and that of the successor (if it is a transfer within the family), and the larger community (the city, the region, the country).
Fully understanding and adequately evaluating the contexts that influence the transfer process will allow you to make more thorough preparations in line with potential opportunities and difficulties.
The five contexts that influence the transfer process
- Le Breton‐Miller, I., Miller, D. & Steier, L. P. (2004). Toward an integrative model of effective FOB succession. Entrepreneurship Theory and Practice, 28(4), 305-328.