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Mittelstand

December 17, 2014

Germany’s highest court has this morning ruled a 2009 law that provides tax breaks and exceptions on inheritance for the country’s family business illegal and unconstitutional.

Germany’s highest court has this morning ruled a 2009 law that provides tax breaks and exceptions on inheritance for the country’s family businesses illegal and unconstitutional.

The Federal Constitutional Court said the law violated the principle of fair taxation as it provides special treatment to some companies.

But family business advocates say the new ruling could unfairly disadvantage firms that are family owned, compared to competitors that don't face inheritance tax bills.

January 30, 2012

Chinese investors have acquired a large Mittelstand company after finally cracking the family-control barrier, which has traditionally prevented foreign businesses from purchasing Germany’s privately-owned manufacturing companies.

Chinese investors have acquired a large Mittelstand company after finally cracking the family-control barrier, which has traditionally prevented foreign businesses from purchasing Germany’s privately-owned manufacturing companies.

In the first sale of a large and well-known Mittelstand company to Chinese buyers, Sany Heavy Industry, along with Chinese private equity company Citic PE Advisors, will acquire 100% of German family business Putzmeister. Terms of the deal were not disclosed.

December 5, 2011

Are family businesses inefficient? A recent piece in the UK’s Daily Telegraph, headlined “Family-run firms are Britain’s weak economic link”, seems to think so. 

Are family businesses inefficient? A recent piece in the UK’s Daily Telegraph, headlined “Family-run firms are Britain’s weak economic link”, seems to think so.

It was drawing on research carried out by the London School of Economics, which it says found that second and third-generation firms generally had weaker management than non-family-run firms.

June 1, 2003

There were 30,000 insolvencies in Germany last year and family businesses are finding it harder to procure credit from banks with their increasingly stringent lending criteria. Private equity managers may be the answer to a tailor-made financial strategy, explains Max Burger-Calderon

Max Burger-Calderon is a partner with Apax
Partners Group and is also chairman of the EVCA (European Venture Capital Association).

There were 30,000 insolvencies in Germany last year and family businesses are finding it harder to procure credit from banks with their increasingly stringent lending criteria. Private equity managers may be the answer to a tailor-made financial strategy, explains Max Burger-Calderon

June 1, 2002

Germany has lagged behind other European countries in its treatment of family businesses. Perhaps if there were less confusion with the definition of a family business, their renaissance could further flourish

Peter May advises family businesses in conceptual issues. He is Professor of 'Mittelstand' Business Studies at FHDW in Bergisch Gladbach and founder of the INTES Academy for Family Businesses and the INTES Advisory Services for Family Businesses in Bonn, Germany.

Germany has lagged behind other European countries in its treatment of family businesses. Perhaps if there were less confusion with the definition of a family business, their renaissance could further flourish

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