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Project code: A78812
Project name: Restart
Policy: 8. REACT-EU ERDF measures
Specific objective: 12.1. Enhancing the operations of SMEs, especially from the perspective of digitalisation and the green economy
Planned completion time: Start 1.1.2023 and end 31.12.2023
Operational status: Ended
Responsible authority: Helsinki-Uusimaa Regional Council
Official name of the applicant: Cursor Oy
Organisation type: Other legal person governed by public law
Business ID: 0727178-6
Street: Kyminlinnantie 6, PL 14
Telephone number: 0401902500
Postal code: 48601
City/town: Kotka
Website: http://www.cursor.fi
Project contact person's name: Luomi Marjo
Contact person's position in the organisation: Koordinaattori, kehittämishankkeet
Contact person’s email address: marjo.luomi(at)cursor.fi
Contact person's phone number: 0401902575
Number of applicants or subsidy transfer:
In the years to come, thousands of Finnish companies will be facing a change in ownership. In the Kymenlaakso area, the percentage of companies already planning a change like this is even higher than in the rest of the country. There is an increasing need for regional coordination of changes in ownership and related network collaboration, low-threshold services, regular check-ins concerning possible changes in ownership, and long-term development of measures for improvement. To preserve the vitality of the region, it is important to find someone to either buy or take over the operations of as many of the businesses undergoing these changes, if they are profitable.
The goal of this initiative is to develop business services and entrepreneurship training, and to better recognise and anticipate competence needs. The aim is to create an overall view of the needs regarding changes in ownership in the Kotka-Hamina region, to review the existing best practices, to select the ones most suited to the region for testing, and to strengthen the existing collaboration network. The aim is to bring together those planning a change in ownership and those planning to start their own business as well as to strengthen entrepreneurial skills in the process for a change in ownership.
The initiative will create an overall picture of the region’s needs as regards changes in ownership, find the best practices for situations involving a change in ownership, identify paths to entrepreneurship and strengthen existing collaboration networks with, for example, the Centre for Economic Development, Transport and the Environment (ELY Centre) for Southeast Finland, Finnvera and entrepreneur organisations. The initiative will build trust between the network operators and enable closer collaboration.
Work and knowledge surrounding changes in ownership will be made into one of the key themes of Kymenlaakso’s business life. Successful changes in ownership will help to maintain continuity and growth. They also offer other benefits, such as maintaining and increasing the vitality and attractiveness of the area. Jobs will become more secure, and new employment opportunities will be created. Tax revenue will increase. Entrepreneurs who are at the start of their business journey will get off to a flying start. Businesses’ product and service supply will be secured and further improved. Businesses will also continue to evolve and grow. Expertise will not be lost.
Hankkeen varsinaisia kohderyhmiä ovat mikro- ja pk- yrittäjät, muutostilanteessa olevat työnantajat ja työntekijät yrityksissä sekä organisaatoissa työskentelevät työntekijät ja johtajat yksityisellä ja julkisella sektorilla. Yrityspalvelujen tuottajina hankkeen kohderyhmä ovat työvoimahallinnon yrityspalvelujen asiantuntijat sekä oppilaitosten oppisopimuspalvelut.
Kuntien päättäjät: luottamushenkilöt ja viranhaltijat, Kymenlaakson seutu, Yritykset, joissa omistajanvaihdos ja/tai yrityskauppa on pitkän tähtäimen tavoitteena
EU and State funding granted: 50 540
EU and State funding used: 35 045
Planned public funding (total): 72 200
Planned public funding used (total): 50 065
Regions: Kymenlaakso
Subregions: Kotka-Hamina
Municipalities: Pyhtää, Hamina, Miehikkälä, Virolahti, Kotka
Street:
Postal code:
City/town:
Planned: 0, in which women are employed 0
Completed according to monitoring information: 21.00, in which women are employed 12.00
Planned: 0, which are founded by women 0
Completed according to monitoring information: 0.00, which are founded by women 0.00
| Direct | Indirect | |
| Luonnonvarojen käytön kestävyys | 7 | 7 |
| Hanke tukee omistajanvaihdostilanteissa olevien yritysten ymmärrystä kestävästä kehityksestä. | ||
| Ilmastonmuutoksen aiheuttamien riskien vähentäminen | 9 | 9 |
| Hanke tukee omistajanvaihdostilanteissa olevien yritysten ymmärrystä kestävästä kehityksestä. | ||
| Kasvillisuus, eliöt ja luonnon monimuotoisuus | 0 | 0 |
| Pinta- ja pohjavedet, maaperä sekä ilma (ja kasvihuonekaasujen väheneminen) | 0 | 0 |
| Natura 2000 -ohjelman kohteet | 0 | 0 |
| Materiaalit ja jätteet | 5 | 7 |
| Hankkeen toimenpiteissä otetaan huomioon digitaaliset ratkaisut verkostoyhteistyössä, koulutuksissa ja työpajoissa hankkeen toimenpiteiden hiilijalanjäljen pienentämiseksi. Hanke tukee omistajanvaihdostilanteessa olevien yritysten vastuullisuusosaamisen vahvistumista niin ekologisesta, taloudellisesta että sosiaalisesta näkökulmasta. | ||
| Uusiutuvien energialähteiden käyttö | 0 | 0 |
| Paikallisen elinkeinorakenteen kestävä kehittäminen | 9 | 9 |
| Hankkeen toimenpiteillä kehitetään ja monipuolistetaan seudun elinkeinorakennetta tuomalla omistajanvaihdostoiminta osaksi elinkeinopolitiikkaa. | ||
| Aineettomien tuotteiden ja palvelujen kehittäminen | 9 | 9 |
| Hanke tukee alueellisten omistajanvaihdospalvelujen kehittämistä. | ||
| Liikkuminen ja logistiikka | 0 | 0 |
| Hyvinvoinnin edistäminen | 8 | 7 |
| Elinvoimainen yritystoiminta ja omistajanvaihdoksilla varmistetut palvelut vahvistavat alueen asukkaiden hyvinvointia. Hanke tukee omistajanvaihdostilanteessa olevien yritysten vastuullisuusosaamisen vahvistumista niin ekologisesta, taloudellisesta että sosiaalisesta näkökulmasta. | ||
| Tasa-arvon edistäminen | 0 | 0 |
| Yhteiskunnallinen ja kulttuurinen yhdenvertaisuus | 6 | 8 |
| Omistajanvaihdosten uusilla palveluilla varmistetaan entistä paremmin yhdenmukaiset liiketoimintaedellytykset yrittäjille. | ||
| Kulttuuriympäristö | 0 | 0 |
| Ympäristöosaaminen | 0 | 0 |
A change in the ownership of a business involves numerous financial, legal and human factors. The exiting and the entering entrepreneur must reach a consensus on the value of the business, and the new entrepreneur must resolve questions related to financing. Not only the company’s staff, but also its customers and entire culture are facing new challenges. A change in ownership is a demanding and often time-consuming process, and it is a good idea to prepare for it well in advance. Many profitable companies go out of business when the entrepreneur decides to exit because the transfer of the business to someone else has not been taken into account in the plans. When viable businesses close down, jobs are also lost until new entrepreneurs emerge. In entrepreneurship education and training, in educational institutions and business consulting, as well as in general discussion, much more attention is paid to starting a business than to buying an existing one. In the Kymenlaakso area, approximately 35% of businesses are considering a change in ownership in the next three to five years, compared to around 30% nationwide. In South Kymenlaakso and Loviisa, expert services for a change in ownership are offered by the business services provider Cursor Oy. The regional Centre for Economic Development, Transport and the Environment (ELY Centre) provided services for changes in ownership through the KEHPA business development service until the end of 2023. The South Kymenlaakso Vocational College Ekami organises training for a professional qualification in entrepreneurship, which enables entrepreneurs and company employees to acquire expertise not only with regard to business but also to the planning and implementation of corporate acquisitions. The qualification can be completed through an apprenticeship as an entrepreneur or employee, whereby a company bought or taken over by the student serves as their learning environment. The exiting entrepreneur can act as a mentor for the student. The South-Eastern Finland University of Applied Sciences (XAMK) implements training for taking over a business and enables networking between those looking for someone to take over their business and the students alongside the training. Employment and Economic Development Offices (TE Offices) offer advisory services to those planning to start or buy a business as well as look into possibilities of receiving start-up funding. The advice will also address training needs related to entrepreneurial skills. Entrepreneurs looking for someone to take over their business can make use of the Duunitori platform.
The goal of this initiative was to create an overall picture of the outlook regarding changes in ownership in the Kotka-Hamina region in the coming years, and to anticipate competence and change needs based on the requirements of the labour market. The aim was also to enable stronger and closer collaboration between various authorities, the region’s educational institutions and organisations providing services for changes in ownership for the purpose of developing these services. In addition, the aim was to identify and benchmark the best practices for a change in ownership and to pilot the ones most suited to the Kymenlaakso area.
The initiative involved a survey on the outlook regarding changes in ownership in South Kymenlaakso as a basis for the service model planned for the region. With respect to changes in ownership in the coming years, the purpose of the survey was to find out the sectors, entrepreneur age distribution, company size and business situation of companies in the region as well as to identify the service needs of businesses at different stages of a change in ownership. The survey was distributed to approximately 2,800 entrepreneurs by email, in Cursor’s newsletters and via Facebook. 97 companies responded to the survey. Interviews were conducted with nine entrepreneurs. Respondents were evenly distributed as regards age, gender and the registered office of the company. The survey included a wide range of sectors. The employment impact of the responding companies is quite significant at the regional level. Of the responding companies, 65 employ a total of 443 people. Of the respondents, 34 % thought that a change in ownership would take place within 1 to 3 years, and 51.5% thought that a change in ownership would take place within 1 to 5 years. It is worth noting that of the 97 respondents, almost the same number would like to grow and expand their business as would like to give up or go out of business completely. Over half (53%) of the respondents believe that they will find someone to take over or buy the business among their fellow entrepreneurs. The respondents also hoped that students would take over businesses. Entrepreneurs are not very active in seeking information about a change in ownership in advance and do not start the process early enough. The entrepreneurs who responded to the survey count on other entrepreneurs and their experiences regarding change in ownership as well as on the expertise of Cursor’s business services. The responses also revealed that entrepreneurs do not want their intentions of a change in ownership to be made public, preferring to take the matter forward privately.
The initiative strengthened collaboration with the region’s educational institutions, authorities and other related operators to develop the regional services for changes in ownership. This resulted in closer regional and national network collaboration. The Business Transfer Forum of the Federation of Finnish Enterprises brings together operators and initiatives related to changes in the ownership of businesses for the purpose of developing services and finding solutions. The challenges associated with changes in ownership are the same across Finland, and regional and national collaboration is therefore essential. It is good to be aware of the services provided by different operators regarding a change in ownership to avoid overlap.
As well as several current initiatives and surveys on the topic, the project benchmarked existing services for changes in ownership. Business consultants and initiative operators also came up with ideas for a new model for changes in ownership. For example, business development corporations could look for micro-enterprises for sale in the same sector at regional or national level and make them into larger and more attractive entities. The model is still being developed, and the aim is to be able to test it in practice.
A change in the ownership of a business is a topical challenge that can be resolved through collaboration between entrepreneurs, training providers, business consulting, development organisations, employment authorities and other key operators. It is important to keep the topic on the agenda in current debates.