Statistics confirm that succession is usually a problematic situation. Only 30% of family businesses survive the transition to the second generation and only 10% after the transition to the third generation. Although SMEs competitiveness remains high on the agenda of the European Commission and manufacturing sector in Europe is a sector of continuous growth, barriers to this growth are common and include challenges in areas such as a succession of ownership and leadership of a business and maintenance of viable businesses in order to increase the critical mass of SMEs.
The objective of the project – addressing and managing family business succession or transfer procedures and increasing their competitiveness and sustainability.
The challenge is to help Member States implement policies and new succession measures in their operational programs so that SMEs can increase their competitiveness and sustainability in order to ensure their future after changes in ownership, thus, contributing to the overall sustainability and growth of the economy, both through produced economic activity and jobs preservation.
Project website: https://www.interregeurope.eu/successroad/
The project is acting under Interreg Europe programme.
Project duration: 1 August 2019 – 31 July 2023
Total project budget: EUR 859,640. European regional development fund.
Lithuanian Innovation Center
Organization code 110066875
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