euronews business planet – Inheriting a business: how to make it a success
www.euronews.com Every year in Europe, 600000 jobs are lost simply because entrepreneurs don’t prepare their company’s transition properly. Making sure company hand-overs take place smoothly is an integral part of Finland’s business culture. Forty-year old Oliwer Campbell runs a company selling office equipment. Founded by his grandfather in 1933, it was taken over by his father 20 years ago, before Oliwer himself became the boss two years ago. Even though he has been working in the family-run business all his life, the transition, with its heavy load of responsibilities, was a real challenge for Oliwer. “The emotional part is probably the strongest challenge you face. But once you overcome that, you become much stronger as a person as well, and that’s a big help,” says Oliwer Campbell, CEO of Bruce Campbell Ltd. The transition was smooth and successful: turnover has doubled in the past decade and some twenty jobs have been created. Oliwer was well-prepared: he took no less than ten courses on management strategy in the three years preceding his take over. “It helped a lot. Because sharing these thoughts, and ideas, and questions, and getting answers to them, and knowing that you’re not alone… Having family businesses that are looking into giving over the business to the next generation is something that touches everyone,” says Oliwer Campbell. “It’s also about networking. Getting to know people, maybe you can do business in between, and getting life-long friends that …
Video Rating: 5 / 5
www.euronews.com Boosting entrepreneurship to combat an ageing population: the French region of Auvergne started investing in its entrepreneurs a few years back. And the results are promising: hundreds of jobs have been created and young entrepreneurs are being drawn back to the region. David and Eric are both trained boilermakers in their mid-twenties. They have set up a business making designer furniture out of steel, stainless steel and zinc using enamelled lava, leather and carbon for decoration. Turnover last year reached 100000 euros. Their goal is to double this figure in the coming year and hire a sales person. Their strength is their know-how – among their clients are some of the biggest art galleries. But they also know they must adapt to the realities of the marketplace. “Our family, friends and other people tell us: ‘What you do is great, but we can’t afford that kind of thing’,” says Eric Romero, co-founder of Tred Arts. “We are very aware of how much people have to spend, whether it’s a large sum or a smaller sum. We adapt each product to the client’s budget and desires,” adds his business partner Eric Seguinotte. David and Eric set up their company two years ago. The pair owe part of their success to the region’s entrepreneurs in residence initiative. Its aim is to encourage young entrepreneurs to set up businesses in Auvergne. The scheme won the European Commission’s Enterprise Promotion Awards Grand Jury Prize back in 2010. “Through the entrepreneurs in …
Video Rating: 4 / 5
