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16/01/2014 PROFILE > Avocat , Notaire

Key figures from the barometer of SME transfers

The National Company of Consultants in Mergers and Acquisitions (CNCFA) and the financial analyst Epsilon Research have published the fourth edition of their barometer on the transfer of SMEs in France. The objective of the barometer is to inform professional stakeholders as well as local authorities on market developments in the transfer of SMEs in France and to remedy the lack of national statistics on this matter. The following can be taken from the 2013 study:
  • In 2013, 25% of SMEs transferred internally (family or employees), with the remaining 75% being transferred;
  • defaults by SMEs increased by 4.6% over the first three quarters of 2013 (compared to 2012);
  • the rate of intrafamily transfers (adjusted) remains two times lower in France compared to the main European countries;
  • employee takeovers are a type of very minority transfer for SMEs in France and Europe.
The barometer also measures appreciation of the market by professionals. Consequently, according to them, the main economical hindrance to due and proper operations of the market is the lack of visibility over activities (77%; +3% compared to 2012); the main structural hindrance is tax (80%; +12% compared to 2012). Moreover, over 8 in 10 professionals would like public authorities to take action to make tax more flexible for the transfer/transfer in order to improve market operations.