Review into SME ownership changes

The DTI's Small Business Service is conducting a review into the hurdles that small businesses face when their ownership changes, and what more could be done to ease the process.

The SBS said: "Effective transition of business ownership has the potential to drive productivity benefits through improved innovation, investment and skills. However, ensuring a smooth succession of ownership can be especially challenging for smaller businesses who may not know how to get appropriate advice, and who may face barriers in raising finance to fund the transition."

The review will concentrate on businesses which are the sole or main source of the owner's income and will cover all sizes, types and stages of business from sole traders to AIM quoted SMEs.

The Small Business Service has invited interested parties to submit comments on their experiences of business transfer. The call for submissions includes 20 questions and the deadline for answers to any or all of the questions is 31st July 2004.

Copies of the Small Business Service's "Business Transfer Review: Call for Submissions" can be downloaded: here - (Word doc 89kb)