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Study on the transfer of family businesses in Switzerland: lack of preparation threatens the family model
Swiss study conducted by Lombard Odier, Bilan, Finanz und Wirtschaft, and HEG Fribourg.
Lombard Odier has partnered with the magazine Bilan, the economic newspaper Finanz und Wirtschaft, and HEG Fribourg to conduct a second major study on Swiss family businesses.
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With nearly 90,000 businesses expected to be transferred in the coming years, a survey of 500 family businesses across Switzerland reveals that almost half not adequately prepared for succession, with 47% having taken no concrete measures to gradually involve the next generation. Only 10% have a formal integration programme in place, and only 11% have completed the succession process. Structured approaches to succession remain rare, despite the long-term nature of the process. Formalising succession also helps clarify roles and move beyond emotional aspects – for both the outgoing entrepreneur and the successor.
The study reveals that nearly half of the surveyed family businesses are not adequately prepared for succession
Decline in family succession and shifting paradigms
Today, only 40% of businesses plan to pass on their activity within the family, compared to 60% 15 years ago, highlighting a decline in intra-family succession. This shift can be attributed to broader changes in mindset: 37% of children taking over the family business were first trained outside of it, and more than a third are not yet involved in the company. Having trained externally, they often see succession as just one of many career paths, and may hesitate to shoulder the legacy of tradition and family values. As a result, selling to third parties or to current management is becoming a more common succession model.
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The survey results highlight several key challenges for family businesses in the succession process. Firstly, business valuation: 50% of respondents say they do not know the value of their company, and 33% express little interest in the matter. In practice, there is often a significant gap between the owner’s estimated value – frequently overestimated – and the actual economic value.
The survey results highlight several key challenges for family businesses in the succession process
Secondly, succession within the family is a complex and emotional process that can lead to tensions. The sensitivity of the topic is reflected in the numbers: only 32% of respondents have settled the distribution of capital among their children, while 42% say no measures have been taken. When one child wishes to take over the family business, buying out the shares of other heirs can be financially challenging. Depending on the size of the company, children may struggle to secure the necessary funding, and the “family discount” expected by successors can complicate intergenerational negotiations. Finally, tax implications are a major concern, with over 60% of respondents expressing worry about their impact.
To ensure the long-term future of the business, anticipation, formal governance and support from external experts are essential pillars of a smooth succession.
The study was conducted by Bilan, Finanz und Wirtschaft, and HEG Fribourg in partnership with Lombard Odier, surveying 499 Swiss family businesses across 23 sectors and all cantons. SMEs with 10 to 49 employees are the most represented (52.7%), with a strong presence from the construction sector (18.4%).
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Study on the Transfer of Family Businesses in Switzerland: Lack of Preparation Threatens the Family Model
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