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Are you ready to take over a business?

 

Are you ready to take over a business?

Even if taking over a business is less risky than creating, the risk exists, and the profile of the buyer is in question. It is therefore necessary to ask what are the ideal conditions to get started.

It is important to take into consideration that certain parameters favor or reduce the success of the business takeover.

The personality of the buyer is decisive, even more than his professional qualities. His personal, family, professional and financial situation will be taken into account in order to be in good recovery conditions .
Taking over often means changing your life, becoming independent and securing a professional situation. The aspiration is beautiful, but it has to be thought through to become a reality. The qualities of perseverance and resistance to stress are therefore essential. It is a great adventure to resume, but it is also an ordeal, to be experienced often in great solitude.

Take over a business while unemployed

Few of the unemployed are listed as buyers . This situation being suffered rather than chosen, it is not the conducive condition for a business takeover, even if social advantages exist in their favor. In any case, this is not what determines the will to resume.

Take over a business while being an employee

An employee is occupied by his functions. As this is often a responsible person, she has little time to devote to prospecting.
However, taking over a business takes a lot of time to find the target, but also to study it. A good reflection and a good judgment condition the good choice, that seems incompatible with a work in parallel. Many buyers have preferred to resign to devote themselves solely to the takeover , they testify that it is a full-time activity .

If being an employee seems disadvantageous from this point of view, it nevertheless constitutes an advantage concerning your financial security and the time available to you, because you do not have a specific deadline. This avoids panic stress when, failing to find or to achieve, your budget decreases as quickly as your mind. You will be less prone to haste and will maintain peace of mind with the seller during negotiations . There is still a perverse effect, this comfortable situation can make you a false buyer waiting for an ideal and utopian business.
Successors aware of this fact preferred to quit their jobs. Thus exposed and bound by deadlines, their determination to take action was strengthened.

Business takeover: intermediate solutions for the employee

Leaving the status of employee is possible while maintaining security or taking advantage of it. The law allows you to take leave for business creation, sabbaticals and some companies offer a spin-off.

Leave for business creation
Any employee with 2 years of seniority can claim 1 year unpaid leave to create or take over a business. This leave is renewable once. The employment contract is suspended during the leave. The employee can return to his job or resign at the end of the leave.
The employer can defer the leave if the number of employees absent for sabbatical leave and for setting up a business reaches 2% of the workforce. In companies with less than 300 employees, he can refuse it if he considers that this absence will be detrimental to the running of the company.
With a view to financing his future activity, the employee can request the postponement of the payment of part of his paid leave on the day of departure on leave for business creation or sabbatical leave.

Sabbatical leave
Employees with 6 years of professional activity and at least 36 months of seniority in the company can benefit from a leave of 6 to 11 months for personal convenience in suspension of the employment contract and without remuneration. The employee will return to work at the end of the leave. The award conditions follow those applicable to leave for business creation.

Swarming

Companies wishing to poach personnel practice swarming. They offer staff who wish to create or take over a business , financing and support for their business project in exchange for their voluntary departure from the business. The terms are on a case-by-case basis and only commit the employee who is free to accept this proposal.

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