Small steps to bigger success – developing knowledge/capacity building program for entrepreneurs to foster – through micro learning - better and more successful succession in the family business (SiFB)

<< Background >>The primary motivation for applying for this project stemmed from the acute awareness of the challenges and needs faced by family businesses during the succession process. Family businesses constitute a significant portion of the economy in Europe, with up to 90% of companies in some countries being family-controlled. These businesses are pivotal in generating employment and contributing to economic growth. However, succession in family businesses is often fraught with complexities, risking business continuity and job losses. Many young successors lack the necessary business knowledge and face time constraints that impede their ability to prepare adequately for taking over the business. Additionally, there is a general lack of tailored educational programs that address the unique challenges of family business succession. By applying for this project, the aim was to address these specific needs by developing a digital, modular educational program that would equip current and future generations of family business owners with the essential knowledge and skills for successful business transfer.<< Objectives >>The project aimed to achieve several critical objectives through its implementation:Education and Skill Development: To prepare both the current (1st generation) and next generations (2nd and 3rd generation) of family business owners for a more efficient and successful transfer of management and ownership. This was to be accomplished through a custom-designed online learning program focused on micro-learning to facilitate easy and flexible learning.Innovative Learning Methods: To enhance engagement and information retention, introduce and utilize innovative learning methods such as micro-learning and gamification in educational content.Digital Accessibility: By creating a fully digital and online program, the project aimed to increase the accessibility and flexibility of learning opportunities for family business members, enabling them to learn at their own pace and according to their individual needs.Research and Tailored Content: To conduct research in multiple countries to understand the unique challenges and needs related to family business succession, and to use these insights to develop tailored content that is directly applicable and beneficial to the target audience.<< Implementation >>1.Primary Research (PR1): Conducted extensive research in partner countries to identify the specific challenges and requirements of family business members in the succession process. This research included analyzing existing data from the Erasmus+ SUFABU project and conducting interviews.2.Data Analysis and Report Creation (PR1): Analyzed the data gathered from the research to understand the prevalent challenges in family business succession, serving as the foundation for developing the tailored learning modules.3.Program Design and Development (PR2): Based on the research findings, a tailor-made microlearning program was created. This program focused on succession planning in family businesses and was designed in microlearning units to facilitate easy content absorption.4.Recording and Post-production (PR3): Each partner institution was responsible for preparing specific microlearning units.5.Development of Learning Website (PR4): Website where all the microlearning units and other educational materials were made accessible to the target audience.6.Dissemination and Outreach: Participation in family business events and the organization of multiplier events in each partner country to showcase the project results, as well as preparing scientific research paper to be presented at the conference and published in journal.7.Continuous Feedback and Iteration: User feedback was continually solicited and used to refine and improve the educational content and the website.<< Results >>1.Interviews and Detailed ReportConducted interviews with family businesses across the partner countries. These interviews provided in-depth insights into the challenges faced during the succession process.Compiled a comprehensive report based on the interviews and additional literature review. This report outlined key challenges and needs identified during the interviews, offering a nuanced understanding that informed the development of the educational program.2.Tailored Online Learning Program: A comprehensive, modular online learning program specifically designed for family business succession. This program included a variety of microlearning units, each addressing different aspects of succession.3.Educational Materials: A range of supporting materials was produced, case studies and gamified website that leads interested participants through a family succession journey through short videos and questions.4.Learning microlearning Website: A website where all materials are accessible. Website www.sifb-eu.com5.Dissemination EventsAs an additional output we created a research paper that will be published.