#REBTES Project Builds Bridges for Business Transfer Development Across Europe
The Interreg Europe-funded REBTES project brings together nine partners from six different regions to develop business transfer ecosystems and exchange good practices between regions. The partner regions are at very different stages in business transfer development: while Flanders in Belgium has been actively addressing the topic since the early 1990s, Finland and South Ostrobothnia have focused on it since the early 2000s. In contrast, work in the Ivano-Frankivsk region of Ukraine is only just beginning.
During a REBTES peer2peer learning session held this week, Seinäjoki University of Applied Sciences (SEAMK) shared its experiences in promoting business transfers with its Ukrainian partner organisation. The discussion featured SEAMK experts Anmari Viljamaa and Juha Tall, who presented the region’s long-term development work and practical tools designed to support business transfers.
More Than 20 Years of Research, Development and Cooperation
SEAMK has been engaged in business transfer-related research and development activities for more than two decades. This work has included research projects, practical tools, training activities, and the development of regional and national cooperation networks.
During the discussion, Juha Tall described how business transfer development in South Ostrobothnia originated from concerns related to the ageing entrepreneur population in the region. In addition to SEAMK, key actors included the Federation of Finnish Enterprises and the Ministry of Economic Affairs and Employment. Early research projects laid the foundation for the current ecosystem, where research-based knowledge, advisory services and regional cooperation support business continuity.
Today, Finland has a national Business Transfer Forum and approximately 20 regional networks. SEAMK’s ambition is to build a world-class, research-based business transfer ecosystem that connects entrepreneurs, buyers, successors, advisers, educational institutions and regional development organisations.
Practical Tools for Entrepreneurs and Advisers
The peer2peer learning session also introduced practical tools developed by SEAMK that are used in business transfer advisory services. The purpose of these tools is to facilitate the early stages of the business transfer process and help identify the key issues that need to be discussed in different situations.
One of SEAMK’s tools is the Business Acquisition Assessment Tool, which helps both buyers and sellers evaluate critical factors related to business acquisitions. The tool examines the entrepreneur, business operations, the current status of the company and its future prospects. The results are visualised using a traffic-light system that helps identify strengths and areas requiring attention.
The discussion also touched upon the idea of creating an international version of the tool. Juha Tall expressed his hope of building an international development network in which Ukrainian partners could participate in adapting and localising the tool to suit the needs of their own region.
Bringing Business Transfers into Entrepreneurship Education
In recent years, SEAMK has also worked to strengthen the visibility of business acquisition as a pathway into entrepreneurship. Through the “Getting Business Deals Started” project, educational materials were developed for entrepreneurship education.
Studies have shown that entrepreneurship education is widely available, but buying or selling a business is not yet a common or natural part of entrepreneurship teaching. During the discussion, participants emphasised the importance of making different entrepreneurial pathways visible to young people. Entrepreneurship does not only mean starting a new business; it can also mean acquiring an existing company and developing it further.
Ukraine Is Building Its Own Business Transfer Ecosystem
We were particularly interested in how business transfer development started in Finland and what kinds of actors are needed to build a successful ecosystem. Strategic commitment, cooperation and motivated individuals emerged as key themes throughout the discussion.
SEAMK’s experts stressed that a successful business transfer ecosystem is built on collaboration. Essential factors include a shared strategic vision, regional entrepreneur organisations, research and educational institutions, and the willingness of stakeholders to work together.
We considered the discussion highly valuable from the perspective of developing their own region. Their goal is to initiate regional cooperation and integrate business transfer issues into regional strategies and university collaboration.
The discussion concluded on a warm and optimistic note. Although the current situation in Ukraine presents significant challenges for development work, the partners viewed business transfer development as an important element of future regional vitality and business continuity.
“Developing Regional SME Business Transfer Ecosystems (REBTES)” project is implemented under the Interreg Europe Program, funded by the European Union. The contents of this publication are the sole responsibility of the author. The management of the Interreg Europe Program is not responsible for any information contained in this publication.