Many times, entrepreneurs, especially in the infrastructure sector, are described as big personalities. Behind a successful SME is often an entrepreneur who has his own, strong vision for the development and direction of his company.
STRONG, OWN VIEW is an important trait in an entrepreneur; without it, the action could have ended before it properly began. Sooner or later there will still be a situation where you have to give up ownership.
In SMEs, a generational change is often made at this pivot point. Especially then, instead of a strong vision and doing it yourself, the skill to communicate, be open and listen is a valuable asset. Gives space to the thoughts and wishes of others.
Suddenly the entrepreneur is on the brink of something new.
Many companies with decades of history operate in the infrastructure sector. The offspring may have made a career in the company in different roles for years. In his studies, the young generation has been able to encounter a lot of things that have not necessarily been seen in the company's everyday life.
Lean thinking, digitization of construction and model-based construction, development of productivity, management and commitment of personnel and organization, development of employer image, corporate responsibility... The next generation can also develop a strong vision of which direction the company should take and where to look for growth.
Sometimes the idea can even be to sell the company to outsiders and start a completely different activity with the capital thus obtained.
VARIOUS AND INCONVENIENT it can be a great temptation for companies to postpone the perceived change of ownership process, even though it is known that it is surely ahead. However, procrastination is rarely worthwhile.
The lack of openness and anticipation may increase uncertainty among the staff: they sense that change is coming, but no one knows exactly what it means for them.
Postponing an important transfer can also lead to a decrease in the value of the company. In the end, the process may have to be done in a big hurry. When the speed increases, the number of mistakes increases, once said Uuno Turhapurok. That applies here as well.
An owner strategy made well in advance serves as a map when it's time to change owners. You should also take advantage of outside help, because there are big things to decide. Especially in generational changes, much more is at stake than just money – family relationships too. A facilitator who knows the theme inside out knows how to ask the difficult and avoided questions and unearth hidden and honest feelings.
The success of SMEs in changes of ownership and the related advisory, financial and legal services are in the interest of society as a whole. The continuity and growth of companies, the preservation of jobs and the creation of new ones, regional vitality – not to mention functioning family relationships – depend on them. That's why help should be readily available at this important stage for an entrepreneur.
INFRA ry (www.infra.fi) is participating in the change of ownership forum for the first time. We are involved because we want to advance an important issue in society, but also to bring new skills, networks and services to our members.
For our part, we want to build an operating environment where a change of ownership is an opportunity to promote the company's growth and flourishing, and where you get comprehensive support for it.
Changes in company ownership are important nodes. Society is renewed and the ideas leading to the future are refined and sharpened, when new great personalities come forward with their visions. Finland cannot survive without new perspectives and entrepreneurship.
The text has been published before On the OV forum blog.
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