Published on January 25th, 2017 | by admin


8. FAmily BUsiness Successful Succession

Project name: FAmily BUsiness Successful Succession

Program: Erasmus+, KA2: Strategic Partnerships for youth – Development of Innovations

Applicant: Athens Chamber of Commerce and Industry

Partners: CEFE-Macedonia with 9 partner organizations from Bulgaria, Cyprus, Italy and Portugal.

FABUSS – “FAmily BUsiness Successful Succession” – is a 24 months ERASMUS YOUTH project which aims at helping youth related to family business become able and effective successors. Its target group consists of 20-29 years old persons who wish to take over their Family Business at some point in the future. These aspiring successors need skills and knowledge to effectively develop the business by applying new innovative strategies, including extension of their markets, through networking and cooperation with similar enterprises in other countries.

The project’s objectives are:

  1. To Identify and highlight best practices for training and supporting next generation family business leaders
  2. To equip next generation leaders with required knowledge, skills and networks – national and international
  3. To strengthen next generation leaders’ knowledge and skills, by exposing them to transnational good practices, expertise and team work with target group members from other countries.
  4. To support the longevity of family business, their renewal and internationalization in order to enforce their socio-economic contribution.

The main expected results are:

(a) Identification and analysis the regional needs in the field of family business succession and young entrepreneurship;

(b) Creation and implementation of an ICT tool (Platform) to improve the level of entrepreneurial skills and the knowledge of young people in the process of succession of their family business;

(c) Support strategic planning and facilitation of family enterprises, based on realistic processes, to mitigate risks of failure in their succession and management.

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