In to Generation Project aims to provide useful information about the function of SMEs, knowledge in day-to-day procedures and assistance by a consulting role to the owners of family businesses (SMEs and micro SMEs) using the tools of modern technology.
Moreover, In to Generation Project is a project which focuses to provide training in order to assist the successors in taking over an existing business from their parents. Nowadays, in the current economic environment, the owners of SMEs face many challenges in order to present the existence of their company.
SMEs and entrepreneurs hold a significant role in all economies and are the key generators of employment and income as long as drivers of innovation and growth. In the OECD area, they employ more than half of the labour force in the private sector. In the European Union, they account for over 99 % of all enterprises. Furthermore, 91 % of these enterprises are micro-SMEs with less than 10 workers. They offer their importance in all economies and are essential for the economic recovery.
Family business sector is more than 60 % of all European companies and are family owned, representing between 40 % – 50 % of all jobs. Family businesses face the same financial constraints as any other type of business and also face certain specific challenges.
In To Generation Project focus especially on Challenges that develop as a consequence of the family firmÕs internal matters:
Unawareness by family firms of the importance of planning business transfers early;
Balance between the family, ownership and business aspects within the enterprise;
Difficulties in attracting and retaining a skilled workforce.