Business Succession in Lower Austria
We bring together interested parties for business successions and takeovers. We are your partner for successful process support from initial contact to completion.
As business owners reach a certain age, many begin to consider the future of their company. In what form and for how long can and do they want to continue running it themselves? What happens afterwards? Are there potential successors, or is an external buyer needed? What steps must or should be taken to ensure a successful handover? We support all businesses with an unclear succession plan. We focus on small and medium-sized enterprises in trade, industry and production-related services with employees and a business location in Lower Austria. We help you to successfully organize the process of taking over or handing over your business.
Or are you looking to start your own business in Lower Austria and benefit from an existing company structure? In times of increasing awareness of land consumption and - as a result - a dwindling supply of real estate, it doesn't always have to be a greenfield site. One possible alternative is to take over an existing company structure.
As the Business Agency of Lower Austria, we offer our confidential and free support in the area of company succession. We search for companies that are available for takeover or for suitable successors according to your specifications.
Get in touch with us. Together we will find a tailor-made solution for you!
Our Mission
- CONSULTING: We provide advisory support – from initial discussions at eye level, through further process support for implementation, to the notarized purchase and beyond.
- NETWORK: Our focus is on SMEs in the target groups of trade, industry and production-related services. We have an extensive network that we can leverage either to find a successor or to locate an existing business for purchase.
- SUSTAINABILITY: A company takeover can be a sensible alternative to setting up a business on a greenfield site, thus saving resources and avoiding vacancies.
- GUIDANCE: Even before a specific search, we are available as a neutral and personal contact at every stage of your considerations.
- MATCHING: We bring buyers and sellers together. If desired, this is done confidentially and anonymously.
- MEDIATION: We have an overview of a multitude of support services within the network of Lower Austria (e.g., WKNÖ, consultant network). We advise and accompany you so that you can take advantage of these partially free offers.
- FUNDING: If desired, we also advise future successors or business buyers on suitable financing/funding options for the takeover of your business.
Looking for a successor?
Handing over a business is a big step and is often accompanied by emotions and uncertainty. A new owner, on the other hand, is faced with the challenge of modernizing the company without destroying its existing values and processes. Additionally, the fair market value of the business must be determined and the tax implications for both parties must be taken into account.
Our consulting process can look like this:
- Introduction and exploratory phase
- Decision-making process for support
- Joint preparation of all necessary documents
- Search in our internal and external network
- Approaching and initiating contact with potential investors/transferees
- Further process support if needed
To prepare your business for a successful transition, we recommend addressing the topic at an early stage. Take the time now to plan for the medium to long term. This has the advantage of being able to enter negotiations quickly and confidently when succession opportunities arise. This gives you the opportunity to calmly develop a strategy for dealing with tax, legal, or financial aspects in your business in the event of a transition. Or to consider how your employees, family members, customers and suppliers can be involved in this scenario.
It is also important to consider the need for further consultation in your timeline: Is it sensible and necessary to involve experts in advance – for example, in areas such as business valuation, inheritance matters, financing or investments?
Looking for a company to acquire?
Purchasing an existing business offers numerous advantages. Firstly, you acquire a company that is already established in the market and has a functioning infrastructure. This means you can immediately work with an existing customer base, experienced employees, and established business processes. Secondly, you can benefit from the company’s previous successes and good reputation, which significantly eases the entry into the market.
Our services for you:
- We check available company offers throughout Lower Austria for you confidentially and free of charge. According to your specifications and parameters.
- If we find a suitable match, we will present the respective businesses to you in a detailed report. After that, the decision is up to you.
- We establish the connection to the business owners and facilitate orderly evaluations and potential transitions up to the purchase agreement in discussions at eye level.
- You always have the option to involve additional service providers such as lawyers or tax advisors.
- You are also welcome to access experienced partners from our service network.
MARKET ENTRY FOR INTERNATIONAL COMPANIES THROUGH ACQUISITION: Purchasing an existing business is particularly advantageous for foreign companies looking to enter the Austrian or German-speaking market for the first time. This approach creates rapid competitive advantages and ensures quick sales success with an established team.
GRADUATES OR EXPERIENCED EXECUTIVES: Opportunities also arise for graduates or experienced executives who wish to base their own business on an existing company structure from the start. It is worth taking a look at available businesses that align well with the founding goals. Development banks and economic promoters offer financing options.
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CONTACT FORM
Frequently Asked Questions
As the business agency of Lower Austria, ecoplus offers all services for finding a successor or a business for sale free of charge. If additional experts such as tax advisors, notaries, or lawyers are needed, these costs must be borne by the company. Subsidies (financial support) are also available from the state of Lower Austria (e.g. NÖBEG) for the acquisition of a business.
The first step in the search for successor is to obtain the most important basic information (industry sector, location, legal form, number of employees, purchase price, information on the company’s financial situation, etc.). If your business is on a sound financial footing, we can start the search process after a joint introduction and exploration phase.
We have access to internal networks (e.g., our clusters in various industries, a multitude of companies from day-to-day consulting activities, investor networks, institutions such as riz up, etc.). Additionally, we have access to external networks, such as consultant specialized in business succession.
If no successor can be found, there are various options, such as the orderly closure of the business or the search for alternative takeover models. It is important to develop a Plan B early on.
The search for a suitable successor depends on the individual circumstances of the business. However, this process usually takes longer (up to several years), so it is all the more important to address this topic early on.
As mentioned earlier, addressing the topic of succession early on is very important. Before actively starting the search process, you should conduct an inventory of your business and consider its strengths and weaknesses. Weaknesses (e.g., outdated machinery) should be minimized before a transition to make the business attractive to potential successors. You can prepare your business for a transition by developing a clear succession strategy and exploring different options early on. If there is no suitable successor within the family, and before starting an external succession, you might also consider whether an employee of your company is suitable for succession.
Yes, we support you as an investor in finding a suitable business to purchase in Lower Austria. At ecoplus, we have extensive networks that we can utilize in the search. It is important that you provide us with a detailed search profile and your objectives to initiate a successful search process.
Yes, as a foreign investor or company, you can purchase a business in Austria. However, there are various requirements that must be met. Among other things, investors from non-EU/EEA countries need to make arrangements for a residence permit for the appointment of a new managing director, which is part of the establishment process. The takeover process and communication with the existing workforce also present challenges. We are happy to advise you on these matters and are available for more detailed questions at any time.
Generally, lawyers, notaries, and tax advisors may be needed for the purchase or sale of a business. The costs can vary greatly, depending on the complexity of the transaction. As we have good contacts with external consultants, we can find the appropriate contact person for your specific needs.
For finding a successor, the Lower Austrian Chamber of Commerce offers free information material as well as subsidized consultations. For business acquisitions, the state of Lower Austria provides financial support through NÖBEG (Lower Austrian Guarantees and Participations Ltd.) in the form of guarantees for bank loans or silent partnerships. Additionally, the state of Lower Austria offers grants for the establishment or acquisition of a business. On the federal level, guarantees for bank loans can also be obtained through the federal funding agency aws (Austria Wirtschaftsservice GmbH). We are happy to assist you in accessing these funding opportunities.
