Shaping generation change in companies with
Nexxt-Change

The Federal Ministry for Economic Affairs and Energy and KfW have completely revamped the content and technical functionality of the www.nexxt-change.org business exchange platform: further information has been added, usability has been improved and data security has been enhanced. Best practice examples demonstrate how company handovers can be completed successfully. Germany's largest business exchange platform with over 12,000 successful mediations since 2006 is now even better positioned when it comes to advising and supporting entrepreneurs with regard to generation change.

The Federal Commissioner for Small and Medium-sized Enterprises and Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy, Iris Gleicke: "Far too many entrepreneurs put the generation change on the back burner. They shy away from handing over their life's work to someone else. As human beings this is completely understandable, however it does not help anyone and in the worst case, it can actually threaten what they have built. A successful handing-over requires a professional and carefully prepared changeover. The corporate succession exchange Nexxt-Change offers the expertise required to achieve this. It brings together established entrepreneurs and young, spirited founders. As part of our 'Neue Gründerzeit' initiative, our aim is to get the message across more than ever before to young interested parties that taking over an existing and successful business can be a huge opportunity."

Dr Ingrid Hengster, Member of KfW Group's Executive Board: "Over the next few years around 600,000 companies will be looking for a successor. The Nexxt-Change exchange is excellent for bringing together those searching for and those offering an opportunity. We are delighted that we are now able to offer an improved version. However, the companies must take the decisive step – and sooner rather than later. Experience has shown that it can often take three years or more to find a successor."

There are currently around 7,700 businesses for sale and around 2,900 buyers searching for an opportunity on the Internet-based platform www.nexxt-change.org, which is supported by the Federal Ministry for Economic Affairs and Energy, KfW, the Association of German Chambers of Industry and Commerce (DIHK), the National Federation of German Skilled Crafts and Trades (ZDH), the National Association of German Cooperative Banks (BVR) and the German Savings Banks Association (DSGV). The backbone of the exchange is formed by the 798 regional partners who offer support in all areas for those selling and those looking to buy as well as help with the creation of the online adverts.

Note:

KfW offers a broad range of funding options to support the financing of successors. Company successions can be financed through the programmes that provide start-up funding and also through the KfW Entrepreneur Loan. Further information about the platform is available at www.kfw.de or under the information hotline number 0800 539 9001 (free service number).