A record number of business owners are seeking to transfer ownership of their companies, according to a new report from the German Chamber of Industry and Commerce (DIHK). Simultaneously, a shortage of potential successors remains a significant challenge.
The DIHK report, cited by “Rheinische Post”, indicates an unprecedented surge in owners wanting to disengage from their businesses, whether due to retirement or other factors. Industry-Commerce Chambers reported nearly 10,000 consultations related to business succession in 2024 – a 16% increase compared to the previous year. The DIHK warns that, at the current rate, more than half of succession requests risk remaining unresolved, with only 4,000 potential successors identified.
The situation is particularly acute in the hospitality and retail sectors, where the supply of businesses seeking new owners significantly outnumbers the demand, exceeding threefold. Imbalances are also observed in the service and IT industries, where the number of businesses offered for sale is more than double the number of individuals expressing interest in consultations.
DIHK President Peter Adrian cautioned that Germany is facing a gradual erosion of its economic foundations. He advocates for streamlining the process of business succession, emphasizing that all regulations and administrative procedures must be simplified to encourage participation and ensure a stable handover of businesses.