NOT SMALL AND MEDIUM-SIZED ENTERPRISES BUT FAMILY AND TRADITIONAL ENTERPRISES IN BULGARIA: SUCCESSION AND TRANSFER OF BUSINESS

Abstract

The SMEs are an extremely heterogeneous category, which means that special efforts are needed to properly cover the different sub-groups and especially small family and traditional enterprises. After the creation and growth of a business, transfer or inheritance is the third decisive phase in its life cycle. Successful succession and business transfer are a key to maintaining jobs and guaranteeing the continuation of existing businesses. It is important to know that the transfer or succession / inheritance of a business is an integral part of the strategic management of the company. Correct answers to questions such as when, how, to whom, and how much it might cost, can make a business rich or bring it down. In addition, taking on a business is a real alternative for start-ups to swim in the deep waters of a market economy. How to support family business is very important issue for sustainable economy grow.