Business transfers as promoters of sustainable recovery growth in the SME sector

Key points:

The EESC:

• Considers that business transfers are an important strategic process ensuring the continuity of businesses and safeguarding employment. Therefore, the EESC suggests that the EU and Member States' recovery and growth policies give business transfer promotion a strong role.
• Believes that developing well-functioning business transfer ecosystems and support services is essential in preserving the livelihood and economies of rural and mono-industrial areas. This element should be recognised in the implementation of the EU's long-term vision for rural areas and in the Rural Action Plan.
• Calls for Member States to introduce and further develop Early Warning mechanisms for SMEs to support the resilience, viability and ultimately the transferability of the business.

• Calls for incentives to be developed for the transfer of small firms to young entrepreneurs. Such incentives could include awareness-raising, advisory services, mentoring and access to finance. Also, young entrepreneurs' understanding of social dialogue could be further strengthened to ensure successful business transfers for all stakeholders.
• Recommends that the Member States establish national business transfer stakeholder forums that represent both public and private stakeholders. Business transfer forums offer a systematic and long-term approach to BT promotion. They also provide a space for an ongoing dialogue between national experts and constitute a more efficient use of resources.