This document summarizes the findings of a survey conducted as part of the InTo Generation Project, which aims to provide training to assist successors in taking over family businesses. The survey collected responses from 605 participants across 5 European countries. It found that most respondents were male, university educated, and owned businesses in the tertiary sector with 1-3 employees and under 1 million Euros in turnover. Respondents believed the biggest challenges for family businesses were financing, sales, planning, and technology issues. Over half had not planned for succession. The document recommends the training curriculum cover topics like management, communication, growth, leadership, safety regulations, and digital skills.

1. InTo Generation Project Number: 2014-1-TR01-KA204-013399
This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be
held responsible for any use which may be made of the information contained therein.
EXECUTIVE SUMMARY OF THE REPORT
Training Entrepreneurs in Connecting Generations and Supporting Successful Business Succession
Planning for micro-SMEs, In short “InTo Generation”, is a project co-funded by the Erasmus+
programme of the European Union. The project aims to provide useful information about the function
of SMEs (Small and Medium Enterprises) and micro SMEs.
In addition, the project intents to provide knowledge in day-to-day procedures and assistance by a
consulting role to the owners of family businesses (SMEs and micro SMEs) using the tools of modern
technology. Moreover, InTo Generation Project is a project which focuses to provide training, through
the creation of educational material (courses), in order to assist the successors in taking over an
existing business from their parents.
Furthermore, one of the main objectives and outputs of InTo Generation Project is to provide training
in order to assist the successors in taking over an existing business from their parents.
The consortium conducted the survey through the form of a questionnaire that was firstly complied in
English and then translated by the project partners in their native languages (Greek, Bulgarian,
German, Turkish and Spanish).
The aim of the survey was to identify the main issues that Family SMEs’ currently confront in
partners’ countries, their lack of knowledge on management issues and the ability to adopt new
practices in the field of business.
The survey of InTo Generation project was addressed to family SME and micro SMEs owners and their
successors. The collected data were subjected to a quantitative and qualitative analysis in order to
support the creation of relevant educational material (curriculum).
The analysis was done in Bulgaria, Greece, Germany, Spain and Turkey. The survey was conducted
from February 2015 until May 2015 and the sample of the survey consisted of a total of 605
participants from all partners’ countries. In particular in Bulgaria there were 50 participants in the

2. InTo Generation Project Number: 2014-1-TR01-KA204-013399
This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be
held responsible for any use which may be made of the information contained therein.
survey, in Greece 52 participants, in Germany 62 participants, in Spain 54 participants and in Turkey
387 participants.
For conducting the research, the consortium used specialized electronic survey tools and services. The
questionnaire that was created and translated into all partners’ languages was uploaded online in a
user friendly format. Through the specific service the participants were able to respond online.
Alongside with the online questionnaire the data collection of survey, derived from family SMEs
owners and successors, was made via face to face interviews, telephone Interviews, Fax (by sending
the questionnaire and receiving it back completed) and e-mails.
This survey gave an excellent opportunity to the consortium to disseminate apart from the
questionnaire, the project plan, goals and objectives of the project to a very large number of SMEs and
micro SMEs in partner countries.
After collecting all the data with the above practices, project partners undertook for their country to
enter survey participants’ responds into the specialized online survey service (Survey Monkey) in
separate online questionnaires. The aim of this practice was to aggregate the respondents’ data on the
basis that all partners could briefly present the results of the survey and also to assist the consortium
in effective control of each partner, regarding the fulfillment of the objectives and their obligations.
The communication channels that partners used in order to inform and promote the survey to the
general public and to target groups were e-mails, telephone calls, Fax, social media, social media ads
(Facebook ads for reaching target groups) and newsletters.
The majority of respondents among all participating countries in the survey were Male (75%) at the
age between 31 to 45 years old and have attended University (University graduates). Their business is
family owned and it is located in urban areas. Additionally, their family business is active in Tertiary
sector for more than 20 years employing 1 to 3 family members and has yearly turnover until 1
million Euros.
The respondents had previously attended an educational training program in University for
expanding their knowledge and skills on managerial, administrative and/or technical level. The topics
that were mostly covered there, were in Technical Skills (interpersonal skills, ability to organize,
management style, coaching, network building and monitoring environment), in Business

3. InTo Generation Project Number: 2014-1-TR01-KA204-013399
This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be
held responsible for any use which may be made of the information contained therein.
Management Skills (control, finance, managing growth and venture launch) and in Personal
Entrepreneurial Skills (change oriented, risk taking, visionary leader and ability to manage change).
The respondents believe that the major challenges their family SME is facing in “Internal matters”,
were the need for financing, sales, planning for the future of the business, having a website, marketing,
the need for qualified stuff, the need for training on new technologies and the need for innovation and
technology. Concerning the “external matters”, the respondents believe that the major challenges
were price competition and the general economic environment.
More than half of the families SMEs (63%) have not planned the succession within the company. The
method that family SMEs use for preparing the successors for taking over the family business is
working few hours per day in the company. In the majority of the responses, the owners of family
SMEs believe that their successors will add noticeable value in the family business and they feel
confident and trust for them. Additionally, successors feel confident and trust that they will manage to
succeed in taking over the family business.
The majority of family SME owners plan when retiring, to assign the business to the next generation
by transferring both management and ownership and they are willing to participate in the pilot
training of InTo Generation project.
Combining all the findings after the analysis of the collected data lead to the following
recommendations:
The trainee should be a graduate of secondary education in order to participate to the training
although the majority of respondents were University graduates. This is recommended due to the fact
that participants although they are university graduates, they are not necessarily graduates of
business administration faculties, faculties of economics and/or finances, etc. Additionally, it is not
necessary for the trainee to have any kind of previous working experience in order for young
successors and all other relevant stakeholders to attend without restrictions the pilot training of InTo
Generation project.
The curriculum for a successful business succession plan of a family SME should cover the following
topics:
- Management (Organizational Skills, Problem Solving, Control, National Legislations & Regulations)
- Communication (Interpersonal Skills, Communicational Skills, Behavior, Attitude)

4. InTo Generation Project Number: 2014-1-TR01-KA204-013399
This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be
held responsible for any use which may be made of the information contained therein.
- Growth (Advertising, Marketing, Competiveness, Creativity & Innovation, Business Sustainability,
Profitability)
- Leadership (Leadership Skills, Motivation, Self Confidence, Effectiveness)
- Safety Regulations (Environmental Issues & Waste Management, Occupational Health & Safety)
- Digital Competence (Digital Skills, Website Development, Social Networks)