If no family member declares their willingness to take over the business, one option is to engage external management whilst the business remains family-owned. In his policy brief "External succession in Family-owned Mittelstand Manufacturing Firms in Germany", Dr Christian Neusser (University of Siegen) highlights the challenges that the new management may face. At the same time, he outlines how such a succession process can be simplified.
His article has been published in the policy brief series " Entrepreneurship in Focus"’ by the research network Entrepreneurship, Innovation and SMEs e.V. and IfM Bonn.
