Future of the Austrian economy: Many businesses are looking for successors
Published
The Austrian economy is facing a major challenge. By the year 2035, around 56,600 companies in Austria will need to be handed over to new owners. These businesses employ a total of almost 780,000 people.
The Austrian Economic Chambers (WKÖ) warn of the consequences if these handovers are not successful. If businesses cannot find a successor, there is a risk of job losses and the end for many traditional firms. For small and medium-sized enterprises in particular, the search for a suitable person is often difficult.
To solve this problem, the WKÖ and the responsible ministry are working closely together. The goal is to create a better environment for business successions. This primarily involves reducing bureaucratic hurdles and providing better support for potential successors.
Policymakers and the Economic Chamber emphasize that securing these businesses is important for the stability of the labor market. In the coming years, there will therefore be an increased focus on providing information about the possibilities of business succession in order to ensure the long-term survival of these firms.
Sources: newbusiness.at
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