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- Germany’s class of small or medium businesses — known as the Mittelstand — faces a looming succession crisis, according to an FT report.
- Over the next five years, the heads of 840,000 businesses are set to retire, and need to find successors.
- “The Mittelstand is going to be hit by a wave of succession that will change its face,” KfW chief economist Jörg Zeuner said.
Germany’s small and medium-sized businesses, which act as the country’s economic backbone, faces a looming crisis of succession as retiring entrepreneurs struggle to find people to take over their work.
According to a Financial Times report, which cites a survey by lender KfW, around 840,000 owners of small or medium businesses — often known as the Mittelstand — will face have to find successors in the coming five years.See the rest of the story at Business Insider
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