Platform aims to match Carinthian businesses with successors

Around 3,700 businesses in Carinthia are expected to change hands in the coming years, and 55 percent of transfers now take place outside the family, ORF reports. The Carinthian Economic Chamber says it is seeking better conditions for business succession and offers a platform to connect owners with potential successors.

The Chamber’s succession exchange is available across Austria and helps owners prepare advertisements for businesses they intend to transfer. Jutta Steinkellner, head of the Chamber’s service centre, said owners want their life’s work to continue.

Steinkellner recommends allowing about five years for the full transfer process. The service centre can help with contracts, tax matters and the trade-law requirements successors must meet. Owners should also review the business premises and address financial and digitalisation issues.

Open communication between generations is also important, Steinkellner said. Both sides should speak candidly and feel able to make decisions.