REINO PROJECT WORKING PAPERS NO. 6(June 2008)

FEMALES AS TRANSFERORS AND SUCCESSORSGreek perspective

Ninetta Chaniotou

DO NOT FORGET THE FUTUREwww.reinoproject.eu

ISBN 978-952-5721-18-8 (NID)

ISBN 978-952-5721-19-5 (PDF)

KOSEK, Kokkolanseudun Kehitys Ltd

Ristirannankatu 1

FI-67100 Kokkola, Finland

Mainostoimisto Heinäkuu / Kirjapaino A. Välikangas, Kokkola

Kokkola 2008

PREFACE

This report is carried out in the context of the transnational REINO pro-ject (Renewal and Innovation to Business Transfers of Micro Companies). The REINO project is co-ordinated by a Finnish development company KOSEK and is funded by the DG Employment of the European Commission under the European Social Fund, Article 6 - “Innovative Approaches to the Management of Change” programme. During the two-year project, partners in Denmark, Finland, Greece, and Italy create a support structu-re and tools that assist entrepreneurs in carrying out business transfers successfully.

The European Commission has emphasised within the framework of va-rious policies and initiatives the special role of the female entrepreneurs in business transfer situations. The outcomes of this report can be utilised for activating females as successors and also to increase awareness of the needs of the female entrepreneurs in business transfer situations. This report contributes also directly to the issue of enhancing business transfers.

The working paper “Women as transferors and as successors” is the sixth published report of the REINO project and it describes the results of the pilot project implemented by the Greek partners of the project. This report analyses gender equality issues in the context of business transfer pro-cess. The objective of the present working paper is to better understand women’s role and options related to the business transfers, especially in Greece. This objective is considered from two view points: (i) how do women transferors and successors differ from men in similar situations, and (ii) identification of barriers hindering the involvement of women in business transfers.

Kokkola, June 2008

Antti Porko Ari PeltoniemiManaging Director Transnational Co-ordinator

FEMALES AS TRANSFERORS AND SUCCESSORSGreek perspective

Ninetta Chaniotoufor European Profiles SA

CONTENTS

SUMMARY . .....................................................................................................1

1. INTRODUCTION. .........................................................................................3

2. BACKGROUND. ............................................................................................5

3. GREEK PILOT ACTION. ..............................................................................12

3.1. Methodological Aspects. 123.2. Results obtained. 183.3. Case studies. 203.4. Findings, conclusions & recommendations. 32

4. SELECTED REFERENCES. ...........................................................................39

4.1. The ideal business transfers flow chart of the Greek sub-project. 394.2. EU Legislation on Gender Equality. 404.3. Good Practises in Women Support Structures. 434.4. Best project ‘Promoting Entrepreneurship amongst Women’. 44

5. BIBLIOGRAPHY. ......................................................................................45

SUMMARY

The main findings of this pilot project are that female behaviour in bu-siness transfers does not differ very much to that of their male coun-terparts. However there are entry barriers and sometimes operational barriers.

Entry barriers relate to the values of the society as a whole regarding female entrepreneurship, and this is not an issue covered by the REINO project, while operational barriers can be better addressed. These are awareness, financial / funding, educational and market barriers. The pi-lot action confirmed what was identified through the Baseline research, the Ideal Flow Chart and Tool Box SME contacts, i.e. that awareness and a systematic, coherent support to business transfers are of primordial importance. It is important that CCI:s institutionalise the Ideal Flow Chart and build on it.

Funding / financing do not seem to be an issue at the present. Friends and family, not bank loans, finance the business transfer and the subse-quent business development. As there are no subsidies supporting busi-ness transfers in Greece, this option was not brought up. Consequently, most succession businesses, try to minimise their development costs, they do not think of maximising their development initiatives. Therefore, addressing business transfers relevant funding tools is a priority.

Education is an important precondition leading to the development rat-her that just survival and continuation of the transferred business. In the case studies, for example, only 50% of the businesses are using ICT. The percent is much lower in the total SME sample that has been contacted during the Baseline research, the Ideal Flow Chart and the Tool Box project stages.

None of the discussions showed that transferors and successors were aware of the need to make any structural changes in the way they are running their business. Sometimes problems were admitted, but they were explained as results of market problems, such as more conserva-tive consumption patterns. It implies that it is necessary for institutional support initiatives to link explicitly business transfers to development actions, and reinforce this with suitable funding options.

Two factors seem to be very important in having positive impact on fe-males as successors: firstly, the appreciation of entrepreneurship in the

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family, and secondly the position of the mother in the family and her occupation. The main support for the businesses that formed the pilot group has come from two sources: the long experience, tacit knowledge and concern / commitment of the transferor in helping the successor, and the practical knowledge of their auditor/tax adviser. The pilot action confirmed that a successful business transfer involves three types of knowledge: explicit business development knowledge, explicit branch expertise, and transfer of tacit knowledge. It has also shown that tacit knowledge transfer depends on the attitude, the mentality of the trans-feror, and it appears that the transferor is the best mentor. The question is what to do when the transferor cannot or will not act as mentor. There is where local CCI:s could help by setting mentoring teams in collabo-ration, for example, with their old members. One of the most important aspects of a business transfer is the prepara-tion. The family transfers were tacitly assumed for decades. In the case of a transfer outside the family, it took one year to find the successor, train her on job and transfer the knowledge.

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1. Introduction

The purpose of this working paper is to position gender equality issues in the context of business transfers. Gender equality deals with remo-ving the explicit or hidden and tacit barriers hindering full female parti-cipation in the full range of social activities. “The Treaty of the European Union obliges Member States to promote equality between women and men. Over the years, the principle of gender equality has been reinfor-ced with legislation. In the 1990s, the policy of gender mainstreaming was introduced. This new strategy strived to include gender equality is-sues in all activities – in the “mainstream”. Gender mainstreaming calls for all EU policies to take into account the different situations of women and men”1. Similarly, the European Union promotes female entrepre-neurship2 through policies and through projects3.

However, the issue of gender equality in the context of business trans-fers has not been studied exhaustively yet. The objective of the present working paper, made in the context of the REINO project, is to under-stand better women’s role and options when it comes to business trans-fers in Greece. This objective is considered from two points of view: (i) how do women transferors and successors differ to men in similar situations, and (ii) identification of barriers hindering the involvement of women in business transfers. The work done is based mostly on field work, i.e. direct contacts through interviews and phone calls, during the period 1.1.2007 – 30.4.2008. It is not in any way an exhaustive research. But what it aims to achieve is to bring in focus key aspects of female involvement in the context of business transfers.

The structure of the working paper is as follows:Introduction (this section)• Background (business transfers and women, overview of the inter-• national and the Greek contexts)The Greek pilot•

1 http://www.gender-equality.webinfo.lt/results/european_union.htm

2 Women entrepreneurs and co-entrepreneurs; http://ec.europa.eu/enterprise/ent-repreneurship/craft/craft-women/women-dgentr-activities.htm; http://ec.europa.eu/enterprise/entrepreneurship/craft/craft-women/conference/women_led.htm

3 CHAMBERS AGAINST STEREOTYPES IN EMPLOYMENT – CH.A.S.E._ A project sup-ported from the European Community – Program relating to the Community Framework Strategy on Gender Equality (2001-2005); GREEK REPORT ON THE IDENTIFICATION OF STEREOTYPES AGAINST WOMEN, Union of Hellenic Chambers of Commerce & Industry, 2005.

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Methodology• Results obtained• Case studies (4)• Findings, conclusions, & recommendations• Selected references•

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2. Background

Business transfers and women, a general overview

Extensive research indicates that the most important thing for busines-ses that are nearing their ‘generation shift’ age, is to consider as early as possible the transfer, sell, or close down options. For example, in the article Succession Planning in SMEs1 the authors study the differences between bigger and smaller businesses. The study reports the results of field research focusing on 368 family-based businesses, with regard to the importance, nature, and extent of succession planning. It breaks down businesses into a typology reflecting annual revenues, total num-ber of employees and number of family members employed in the bu-siness: “Consistent with extant literature, the findings reveal that most family members join the firm for altruistic reasons. Issues related to fa-mily relationships were rated as significantly more important in firms in which more family members were employed within the firm. Moreover, for firms with less than US$1m in revenues, a high priority is placed on selecting a successor who possesses strong sales and marketing skills. The findings show that regardless of their size, it is important for family-owned businesses to develop a formal plan for succession, communica-te the identity of the successor, and provide training/ mentoring to the incumbent CEO”.

Another important, characteristic study2, deals with the likelihood that a succession plan of a business and tries to correlate it with business characteristics. In the review of the business transfers literature, the 1 Motwani, Jaideep Grand Valley State University, USA, et al; Succession Planning in SMEs: An Empirical Analysis; International Small Business Journal.2006; 24: 471-495

2 Lee, Yoon G. et all; A Profile of Succession Planning among Family Business Owners; Financial Counseling and Planning, Volume 14 (2), 2003; ©2003 Association for Financial Counseling and Planning Education.

--> “Using data from the 1997 National Family Business Survey, this study analyzed 673 family-owned businesses….. the findings indicated that only 20 percent had a written succession plan. Among 673 family business owners, only about 14% developed a net worth statement and 13% met with a financial planner or business consultant to dis-cuss estate planning. Those family business owners with a succession plan tended to be older, worked longer hours in their family businesses, had fewer numbers of children, and had higher business management scores than did those business owners without a succession plan. Those who started their own business were less likely to have a written succession plan than those who inherited the business. Female family business owners were less likely to have a succession plan than were male business owners. Based on the findings, implications for financial counsellors/planners and family business consul-tants are presented”. page 1.

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study stresses the findings of early authors (such as Ambrose as early as 1983), who proposes that the family owner not only starts planning early the business transfer, but gives early rights to the transferor. As far as the position and role of women is concerned, the study points out “the role of women and succession issues are addressed to a limited extent in the literature. Problems unique to transferring the family bu-siness from mother to son is explored by Kaslow3 (1998), while others (Janjuha-Jivraj & Woods, 20024) have examined the role of women in the transfer process, contending that mothers of the heirs often found themselves in the role of mediator and buffer between the generations. Like the Canadian farmer study, Kaslow (1998) contended that histo-rically family businesses were most frequently passed from father to son or to another male relative. However, with more women owners of family businesses, succession issues took on new relevance”. This study is important in the sense that it is correlating transferors’ and business profiles with key business transfer parameters.

The succession plan, in this study, is positioned to be influenced from many parameters, such as5

the business characteristics: a) gross business income, b) number • of employees, c) whether or not the business is home-based, d) whether the business is a first-generation family business, and e) whether the business is a recent start-up.

the business owner’s characteristics: a) age, b) education level, c) • hours worked in the business, d) owners’ managerial activities, e) gender, f) number of children, g) race/ethnicity, h) marital status, and i) health status.

engagement in financial planning: a) talk about their goals to their • families regarding the future of the business; b) develop a net worth statement; c) meet with a lawyer; d) meet with an accountant, fi-nancial planner, or business consultant; e) make or update their wills?

3 Kaslow, F. W. (1998). Handling transitions from mothers to son in the family busi-ness: The knotty issues. Family Business Review, 11(3), 229-238

4 Janjuha-Jivraj, S. & Woods, A. (2002). Successional issues within asian family firms: Learning from the Kenyan experience. International Small Business Journal, 20(1), 77-94.

5 ibid., previous, page 34.

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And the attitude towards transferring of the business ownership: a) trea-• ting all their children equally; b) getting their children started in the business; c) proving financial security for themselves and survivors; d) keeping the business within the extended family.

The results of the study confirm that “Those with a written succession plan had a much higher mean level of business income ($2,396,763) than did those without a succession plan ($582,775). Those with a suc-cession plan had more non-family employees and had fewer children than those without a succession plan”6. Moreover, the research also shows that men are more likely to have succession plans than women entrepreneurs: while 17,1% of men say they have a succession plan, only 3,3% of women confirm the same7.

In the EU, a survey in 2000 for the Commission8 found that many of the problems faced by start-up companies and entrepreneurs were common to all, whether male, female, young, old, or from an ethnic minority. Such problems included difficulties in accessing finance, problems in es-tablishing or expanding markets, limited management experience and qualifications, varying attitudes and competence in using IT, and prob-lems with administrative and regulatory requirements. Nevertheless, the research suggests that some of these factors are magnified in the case of minority groups such as women entrepreneurs. The survey suggests that access to finance, both for starting a firm and for growing one, is seen as the biggest problem for women entrepreneurs. This may be exacerbated by limited assets and lack of a track record in business. And this is linked to a perception of discrimination (whether intentional or unintentional) on the part of finance providers. According to the sur-vey, these problems are significantly greater for women entrepreneurs than for small businesses in general.

Among the measures which appear to have been most effective are those which involve mentoring and showing role models. “One com-mon problem for women considering setting up in business is a lack of

6 ibid., previous page 37. 7 ibid., previous page 37.

8 Innovation & Technology Transfer 03/04, Dg Enterprise, pp 10-20; http://europa.eu.int/comm/enterprise/entrepreneurship/craft/craft-studies/entrepreneurs-young-womenminorities.htm

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confidence. When they are shown that they have the ability,….”9. This statement is taken up by ACCA:

ACCA, the Association of Chartered and Certified Accountants (UK), ar-gues that women face discrimination in business transfers, only this discrimination is not understood and acknowledge yet10, 11:

“women face barriers when transferring businesses. However, the • extent of the problem is not known as there is no firm data and only anecdotal evidence. Government must conduct research on gender and ethnicity to identify any barriers, whether they are perceived or real.

women’s businesses tend to be lifestyle based, in the service in-• dustry and are more likely than men’s businesses to operate from home which means that the ‘value’ of the businesses may make the transfer process more difficult. Whilst banks and other agents may not give these businesses a high value for sale, they may be valued by women who wish to run a lifestyle business. This market should be explored by government.

women face greater financial barriers than men when starting up • businesses with women receiving a third of the start-up funding as compared with men. Given that buying an existing business poten-tially requires more capital than starting up a business, the financial barriers for women may be so much greater.

women are disproportionately more likely to be excluded in family • businesses and passed over in succession even though they may have been running the business. Government and business support organisations should identify case studies and role models for wo-men to aspire. There should be an awareness raising campaign to value women working in business”.

9 Leonidas Intzipeoglou, European Commission, Enterprise DGhttp://europa.eu.int/comm/enterprise/entrepreneurship/craft/craft-women/women-dgentr-activities.htm

10 Association of Chartered Certified Accountants (ACCA), Successful business trans-fers – do women face discrimination?, policy briefing paper, July 2005; ACCA 29 Lincoln’s Inn Fields London WC2A 3EE / 020 7059 5751 or 5726 / www.accaglobal.com

11 European Commission. European Seminar on the Transfer of Businesses Final Report, 2003 and 3 ACCA report (2002) Family planning for small business

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These assumptions have been put to test through the Greek pilot acti-on. As it happens, only the last statement has been confirmed. But this is a very important issue. It is related also with the lack of sophisticated structures supporting women in business transfers. For example, men-toring among women is not developed at all: “Such senior-level women could serve as role models and mentors for other women, something that female workers overwhelmingly want, Forte research suggests. On a scale of one to 10, 88% of women surveyed rated the importance of female role models to their future success as a seven or higher. Also, 77% say there is an insufficient amount of female role models in business”12.

Again, the problem is for the smaller not the bigger businesses, in which, gender roles tend to not be very important13. In the very in-teresting presentation (Are Male Entrepreneurs more Productive than Female Entrepreneurs? Evidence from Transition Economies) it is con-cluded that “Women owned firms are on average smaller than men’s (in terms of sales, no. of employees, and capital) but the growth in their sales is equivalent”, and that access to land is the only constraint14 that impacts differently men and women. The report hints that this might indicate an insider’s and outsider’s model of business market entry.

In conclusion, this brief review of women’s role in business transfers shows that the obstacles, if any, are first of all in the family values and social attitudes, and secondly in the lack of women-specific sup-port structures and services. On the other hand, it also indicates that women-transferors need more intense mobilization and more encoura-gement than men to prepare a succession plan.

12 Kelley M. Butler ; Wooing women: Today’s working women seek mentors, mother-hood transition , 1 April 2006,Employee Benefit News; (c) 2006 Employee Benefit News and SourceMedia, Inc. All rights reserved.

13 Are Male Entrepreneurs more Productive than Female Entrepreneurs? Evidence from Transition Economies; Shwetlena Sabarwal PREM-Gender, Katherine Terrell, PREM-Gender and U. of Michigan, World Bank Workshop on: “Women in the ECA Region” Jan. 24, 2008

14 Constraints studied: Permits, Regulations, Anti-competitive Practices of others, Corruption, Access to Land, Electricity, Transport, Access to Finance.

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Business transfers and women, an overview of the Greek context

In Greece, at the moment, there are no special measures aiming to support female transferors and successors. Greece has made legislative interventions facilitating business transfers in the sense of tax relieves and continuation of the validity of the operational licences of certain categories such as bread-producing enterprises. Moreover, Greece has done very few steps to improve day-to-day services provided to faci-litate transferors and successors. REINO project, for example, is very important, because it exactly promotes such kind of services.

One of the key findings of the baseline research that as done in the con-text of the REINO project, and which was confirmed during the detailed interviews with Greek businesses, is that Greek potential transferors start preparing their successor many years before their planned retire-ment time, and the successor is most often a person within the family. Otherwise the pattern is to close down the company rather than look for a successor at the last moment; selling the business is not so common yet. The positive aspect of this pattern of business transfers is that the transfer happens in a controlled way, at the same time transferring the tacit knowledge of the business’s operation. This might be one reason that transferors & successors do not see the reason neither for external consulting or mentoring, nor for funding. The negative aspect of this same pattern is that very often, the business transfer is just a transfer of ownership rather than a moment of revitalisation of the company. Thus succession plans are still rare in small and micro companies, and this applies to both men and women transferors.

Otherwise, women, in Greece, seem to be in transition: on the one hand they face the stereotype problems that women face elsewhere in the EU, for example, women salaries are still lower than their male counterparts are15. On the other hand, Greek women do not necessarily confirm the ACCA assumptions. For example, in a project led by EUROCHAMBERS16 a few years ago, among women entrepreneurs between 20-39 years old, in Greece showed that

15 http://www.kethi.gr/equalpay/ KETHI

16 CHAMBERS AGAINST STEREOTYPES IN EMPLOYMENT – CH.A.S.E._ A project sup-ported from the European Community – Program relating to the Community Framework Strategy on Gender Equality (2001-2005); GREEK REPORT ON THE IDENTIFICATION OF STEREOTYPES AGAINST WOMEN, Union of Hellenic Chambers of Commerce & Industry, pages 18-20.

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They are more educated than men and that they are active in all • branches of economic activity. They confirm the need for and the lack of effective institutionalized practices/structures for career counselling with special focus on women.

Only 2,4% of the survey participants said they have been sup-• ported by a career advisor, while for those that have received such a support, 6,3% came from teachers and professors. The majority (40,1%) said they made the decision of their ‘dream profession’ all by themselves, or that parents influenced (26,8%).

Family obligations are an area of consensus, in the sense that they • usually hinder professional advancement; pregnancy for example is seen as a big problem.

Traditional stereotypes regarding women’s attitudes seem to have • been reversed. Considering for example self confidence: the majo-rity (about 67%) said they are not afraid to express their opinions openly, also among a male audience.

In conclusion, the preceding, very brief discussion on the one hand confirms the lack, the lagging behind of support structures for both wo-men entrepreneurs and business transfers involving women; it confirms women’s positive attitude and confidence to fully participate in the bu-siness world; and, finally, it refutes traditional barrier and behavioural patterns.

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3. Greek Pilot Action

3.1. Methodological Aspects

Timeline

The Greek pilot was implemented between 1.1.2007-30.4.2008. This is a slightly longer period than originally planned in REINO project. In Greece, the identification of gender-related transferors and successors has been a challenging practical issue to solve.

Objectives

To identify practical barriers influencing women’s positive involve-1. ment in business transfers.

To identify characteristics of women’s context that influence positi-2. vely women’s involvement in business transfers.

To understand how women’s attitudes differ to men’s in as far as 3. business transfers are concerned.

To identify business transfers services that the public sector (e.g. 4. Chi’s and the UHCCI) could set up, tailor and offer to women trans-ferors and successors.

To describe 3 case studies of successful business transfers in which 5. women are involved.

Assumptions

Following background readings on female entrepreneurship in the world, the EU and Greece, it appears that it is a highly probable assumption to claim that in Europe in general and in Greece in particular, the bar-riers to women’s involvement in business transfers are not structural or institutional, but they are more social, mental, education related, and reflecting family values, practices and female models.

Thus it was hypothesised that

The possibility for women to become involved in business transfers • as successors is positively related to the mother’s occupation and her position in the family as well as the educational level in the fa-mily.

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The possibility for a female business –transferor to select to transfer • the family business to her daughter rather than her son –all other things being equal- is related to her family’s values and he own edu-cation.

A set of criteria, reflecting the assumption, was agreed to test the hy-pothesis and see how they correlate with positive women’s involvement in business transfers, Table 1 below. Table 1 Criteria to test the assumptions

CRITERIA COMMENTS, RATIONALE

Branch of economic activity Addressing ”female” branches

Is it a family business? Understanding dynamics + tacit knowled-ge transmission

Why was it given to a girl? Was it a selection or a no alternative si-tuation?

Who is the transferor? Internal or external to the extended fa-mily?

Dominant person in the family Position of mother; family dynamics

Education of the dominant person in the family

Who is influencing the values and the mentalities

Mother’s occupation Evident

Education of successor Potential for developing the transferred business

Length of transfer process Transfer of tacit knowledge; also assu-ming early responsibility

Business situation, difficulties Is it internal or external?

Support form the local CCI Availability of reliable support

Expectations from REINO Understanding that a project might be useful, soft support options...

Target group, region, activities, results, difficulties

Region:• The Greek pilot foresees one main Business Renewal Centre (BRC) unit supported by two peripheral units (two antennas) and operating respectively in Athens, Piraeus and Voiotia (Leivadia). The e-registry has been a problem to all 3 organisations. Its lack actually challenged the identification of potential transferors. Thus the pilot action focused more in Voiotia, because the Voiotia CCI had already decided to prepare a software identifying businesses according to age and gender.

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Stage of the business transfer:• The Greek pilot needed to iden-tify businesses that were in the actual process of or just starting their transfer. The baseline research offered ample opportunity to discuss with potential transferors both male and female, and their successors when they were already working in the business. But that was not enough, i.e. the discussion with the potential transferors (or successors) did not lead to the actual business transfer, while the discussion with the successors had more historical value. It was therefore necessary to find a way to identify businesses in actual transition. To address this, it was decided to identify businesses that had been transferred during the last year. It implies that, even if the project intervention would not be at the beginning of the trans-mission process but at more mature stage, it would still be able to understand the transfer process better and to support both parties, i.e. transferors and successors.

Business transfers, how to know that a company has been • transferred and type of business selected for the pilot acti-on: Some CCI:s in Greece register the change in the shares’ ow-nership of a company; but they do not register the management change. Other CCI:s do not register even the change of ownership. This made it difficult to address ltd companies. Thus the pilot ac-tion was concentrated on personal companies1. However, personal companies cannot be transferred per se. The need to close down and then be re-established. This process helped the researchers to identify the relevant transferred companies, through gender, name and time matching, facilitated by a software programme. Limiting the sample space to personal companies does not pose any problem, as many small and micro companies in Greece have this legal form of operation. For example in 2004, out of a total of 897 377 registe-red enterprises, 713 628 were sole proprietorships, i.e. more than 79%2. This form if business is popular because, it is, among other things, the simplest, most flexible and cheapest to set up.

Profile of the target group:• According to the baseline research, Voiotia has a total of 123 913 population, out of which 59 273 are females. The GDP of the region in 2004 was some 3 914 million€, 70% out of which came from manufacturing, energy and constructi-on, 23% from services and the rest 7% from agriculture. The % of

1 Sole proprietor businesses

2 REINO project, Baseline research Greece; page 18.

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active population is some 90,10%. The active, employed populati-on between 45 to 65 years old is 60 987 and the over 65+ years is 4 1393. These two age groups formed the target sample of the pilot action. Thus, companies 20+ years older, owned by women / men, which were closed during the last year, and which re-opened during the last year as well, and are owned by women.

Activities of the pilot action:• The pilot action has covered seven steps. The work was organised through the pilot e-registry for the Voiotia businesses. The main processing was done by the UHCCI4 staff and the national coordinator. The process was supported by the EP5 partner and discussed in the LAG6. Thus it has been a very cent-ralised and controlled process. One reason for this is that the local BUSINESS RENEWAL CENTRE (BUSINESS RENEWAL CENTRE (BRC)) antenna (of the Voiotia CCI) was still under preparation. But another, more crucial reason is that the CCi:s in Greece are not so much used yet to offer development services and to interact with their members in fields other than administration and bureaucracy.

Identification of relevant transferors and successors: this was 1. done through the mini e-registry software.

Recruitment of transferors and successors: a lot of motivation 2. and mobilisation was necessary to attract the interest and trust of businesses-in-transition. For example, an advertisement was made through the local press, and only one company showed interest.

Screening and identification of suitable transferors and succes-3. sors: through the e-registry and those companies that proactively showed interest.

Initial contacts through phone calls: in the event that not enough 4. companies were coming to the project, the project started ma-king individual phone calls. It made phone calls to the cases that fulfilled the pilot action criteria (see previous § Profile of the tar-

3 See REINO project, Baseline research, Greek baseline research, pages 5-19.

4 UHCCI= Union of Hellenic Chambers of Commerce and Industry; REINO project partner

5 EP = European Profiles SA; REINO project partner

6 LAG= Local Advisory Group

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get group). A total of 1623 female businesses that closed during the last year and of 225 female businesses that started during the last year were identified and matched. Ten (10) suitable cases were identified; there were phone calls to all of them. Six (6 ) of them accepted to discuss more; and finally four (4) are interes-ting to deal with more deeply, active in the following branches: local newspaper; dry cleaners; kitchen furniture franchise; car dealer.

Regular contacts with the pilot cases; also when the entrepre-5. neurs asked for them, and offer of support. There have been some 5-6 visits per company, a in some 11 months.

Monitoring and writing of the case studies.6.

The ideal flow chart• 7. The REINO staff used the ideal flow chart to benchmark the stage and service needs of the business transfers case studies.

Questionnaire for female entrepreneurs, in which the criteria listed in • Table 1 above were integrated. However, these criteria were tested a number of times. They were more indirect issues of the unstructured discussions with the companies rather than a once-a-time response to the structured questionnaire.

Tools for structuring the case studies. The tools are a combination • of the Bank of Cases approach8 “refined” to target more the Greek context. The tools for structuring the case studies are in Table 2 and Table 3 below.

7 Reminder of the ideal flow chart in the section Selected References.

8 Good practice developed in REINO by the StudioCentroVeneto partner, and largely adopted by the partners.

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Table 2 Transferor’s profile for the case study

Name (if she /he accepts to disclose it)Age (about)Role (transferor, parent, friend, stranger…)

Type of business Why was the business transferred?When the transfer process was actually initiated?Was there a business transfer plan?How long did it take to complete the transfer?Do you use ICT?What do you feel should improve to make the business better?Involvement into the transferred business

during the transfer period• on going•

Key daily supportMental support / empowermentContribution of local CCI

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Table 3 Successor’s profile for the case study

Name (if she accepts to disclose it)Age (about)Role (transferor or successor)Type of businessHow she became involved

education• interest in entrepreneurship• family transfer•

Any development initiatives she took to develop the companytechnological investments• construction and / or infrastructures• ICT • training of staff• other…•

Was there a business plan?How long did it take to complete the transfer?Did she receive any funding / financing support?Any support from the local CCI?Expectations, plans for developmentInvolvement of transferor

during the transfer period• on going•

Key daily supportMental support / empowermentWould she require some help from REINO?

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3.2. Results obtained

Identification of relevant transferors and successors through • a matching process

A total of 1623 female businesses that closed during the last year and of 225 female businesses that started during the last year were identi-fied and matched. Ten (10) suitable cases were identified; there were phone calls to all of them. Six (6) of them accepted to discuss more; and finally four (4) are interesting to deal with more deeply, active in the following branches: local newspaper; dry cleaners; kitchen furniture franchise; car dealer.

First step identification of those factors making a difference • in promoting females in business transfers

We have identified that two are the key factors for motivating women to entrepreneurship & business transfers: (i) the occupation of the mother and her position in the family (actual and moral power-related aspects; behavioural model); (ii) the values of the family, and especially their views and tacitly transmitted ideas of how they are viewing and valuing entrepreneurship.

On the other hand, we identified one factor as a precondition ensuring the growth and the development of the business: branch-relevant edu-cation. In many of these small family businesses the Greek pilot has been dealing with, the parent who in most cases set up the business has received not any higher education. But the business has grown when the successor has made both business and higher, branch relevant studies. For example, the successor of one of the pilot cases studied furniture design including kitchen furniture, i.e. studied one of the key competiti-veness aspects of contemporary products. Following the official transfer of the business, she made some significant changes in the products that are being promoted and in the marketing of the business as a whole.

Today, knowledge and business development and growth tend to be more and more intertwined. Through the project a distinction was con-firmed: while motivation is a key precondition for an entrepreneur, it is education, i.e. branch-specific specialisation that makes the business grow.

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Processing phase•

Four female business transfers have been processed and are described below as the REINO pilot action case studies.

Other•

(i) Formulation and application of new tools; (ii) increased understan-ding on the support needs of business transfers and the limits / challen-ges of the CCI:s; (iii) mainstreaming in the antennas (CCI:s) the need for soft, process tools.

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3.3. Case studies

In the following pages are presented four (4) case studies, dealing with business transfer. They are in the press (local newspaper), dry cleaners, children’s clothes, and kitchen furniture branches.

Each case study is presented in two parts: firstly is presented an Overview which contains the story line of the transfer; secondly the profiles of the transferor and the successor (according to the case) are described. Two of the case studies are represented by either the trans-feror or the successor, while the other two are represented by both. The tools for presenting the profiles are described in the preceding §, Tables 2 and 3. Most of the information for filling in these two tables was collected more through open discussions with the entrepreneurs, after they had been acquainted with the project, i.e. not by asking di-rect questions.

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1st case study: LOCAL PRESS; TRANSFEROR

The first case study regards the transfer of ownership and operations of the local newspaper. The project has been able to discuss mostly with the transferor (mother). The successor (daughter) had been active in her university studies and also in setting up a new journal.

Overview

This is a family business; it was actually set up by the transferor (mot-her). Press requires a special type of expertise and has a higher social profile. There is one child in the family, and she is a girl. The successor has been active in the family business since she was a very young child. The successor has accepted her role as such, and has been proactive in setting up a new magazine. All family members have university educa-tion.

The transferor was polite during the contacts, but a little surprised. This can be explained from the fact that the local CCI –as she mentioned- does not have close cooperation with the members. The transferor exp-lained that she is supporting her daughter for the succession mentally, psychologically and financially. No especial expectations were expres-sed from the REINO project.

The situation of the business seems stable. The challenge of the suc-cessor is –maybe- to create a new vision for the contribution of the two publications to the local society. The press company owns both the real estate and the technology of the company.

This is one example of a well in advance planned business transfer. It is interesting that the transfer is made while the transferor is still very young. It is reminded that by Greek social standards the 42-55 age is understood as among the most productive in a person’s life. In this case the transfer is made early enough for the transferor to be in apposition to be of real help to the successor. This seemed to be reinforced by the evident atmosphere of complicity between the transferor and the suc-cessor.

The lesson from this case study is that the weakness of the local CCI in service provision to its members should be addressed as soon as pos-sible.

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Summary of the transferor’s profile:

1. Name: Not disclosed2. Age (about): More than 42 less than 553. Role: (transferor, parent, friend, stranger…) Transferors; mother of successor.4. Type of business: Local political newspaper.5. Why was the business transferred? The transfer was being discussed since many years. 6. When the transfer process was actually initiated? About 1,5 years ago.7. Was there a business transfer plan? Not really, but financial plan, yes.8. How long did it take to complete the transfer? Last 6 months.9. Do you use ICT? Yes.10. What do you feel should improve to make the business better? The business is –as far as it could be inferred- at a stable level. Maybe technological update. However, the market situation is a little challenging as demand for local press tends to be decreasing.11.Involvement into the transferred business - during the transfer period - on going12. Key daily support The transferor provides all the support.13. Mental support / empowerment The transferor.14. Contribution of local CCI None. As a matter of fact the transferor expressed many complaints regarding the local CCI.

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2nd case study: DRY CLEANERS; SUCCESSOR

The second case study concerns the transfer of a small dry cleaners business. The contacts were made with both the transferor and the suc-cessor. However, finally the focus was on the transferor

Overview

The dry cleaners is an old company with own, long term loyal clientele. It had been operated for many –some 30-35 years- by a male entrep-reneur. However the real estate was rented, it belonged and belongs to a lady. When the entrepreneur grew older, he introduced his daughter to the job. His daughter worked there for a few months. She got mar-ried and very soon she was pregnant. At that moment she gave up the business. The real estate owner asked the ageing entrepreneur to find a successor so that the business could go on and she could continue receiving income from the rent.

The ageing entrepreneur started searching for suitable successors among the families he knew, i.e. his extended circle of friends. Some 4 persons expressed their interest to take up the business. He inter-viewed, rather discussed with each one of them, and finally there was successful matching with a young girl.

The young successor started working with the ageing entrepreneur, so that she would be able to learn the job in every sense. During this same period, the transfer of ownership was processed and the financial issu-es solved. The legal issues were dealt with by the successor’s family lawyer and the financial issues by the successor’s auditor. The auditor provides the key professional support to the successor. The costs of the transfer were covered by the whole family, i.e. no subsidy and no loan have been used.

When the business passed totally to the young girl, the ageing ent-repreneur stayed on for 3 more months and then he retired. Thus the transfer of the tacit knowledge was ensured.

The social background of the successor is a family, where both father and mother are working. The mother is especially constructive, dealing with life in a positive way. The whole family is very supportive towards each other.

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This transfer is a good example how, when there is a convergence of interests, cooperation and common sense, can help transfer a business safely and effectively also outside the family. It is also a good example of how the local CCI through the BRC could assist through consulting, guidance and facilitation of identifying suitable successors.

Summary of the successor’s profile:

1. Name (if she accepts to disclose it) Undisclosed2. Age (about) About 20 -22 years old3. Role (transferor or successor) Successor4. Type of business Service provision5. How she became involved education interest in entrepreneurship family transfer other: The successor became aware of the business and occupation opportunity that the dry clea ners business transition offered.6. Any development initiatives she took to develop the company a. technological investment There have been technological investments, i.e. to have more effective dry cleaning machines.

b. construction and / or infrastructures c. ICT d. training of staff e. other7. Was there a business plan? There was a controlled, gradual transfer. But no “official” transfer or business plan.8. How long did it take to complete the transfer? About 1 year.9. Did she receive any funding / financing support? No. Family and relatives helped.10. Any support from the local CCI? No.11. Expectations, plans for development? To keep on having a good clientele.12. Involvement of transferor

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a. during the transfer period b. on going13. Key daily support Auditor; mother; family14. Mental support / empowerment Auditor; mother; family15. Would she require some help from REINO? Here is the unique case that the entrepreneur accepted special financial consulting support.

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3rd case study: CHILDREN’S CLOTHES SHOP; TRANSFEROR & SUCCESSOR

Overview

This transfer involves a 3-generation family business. The children’s clothes shop was established some 70 years ago by the grandparents of the present successor. It as established as an SA company. The discus-sion with the transferors and the successor indicates that the initial ven-ture brought something innovative to a small and rural provincial town –as Leivadia was 70 years ago: it brought quality children’s clothing.

The business was going very well for many years. It was transferred to the son of the family, who took up business in collaboration with his then fiancé and later wife. For a while it had some 5 employees, but the company form changed from SA to ltd.

The family has had two daughters and no son. Both daughters followed and finished university studies, but none of them was initially interested in the family business. It is possible that this led to some kind of intro-version in the business activity.

During the recent years, i.e. after the 1990s, the economy of the area has changed, and consumers have become more demanding. Little by little the old family business was losing momentum. It could not emp-loy many people; its legal form changed once again from ltd to sole proprietor (personal company). Recently the younger daughter (who studied business administration in English-language school in Athens) married an auditor from her ‘family’ town. This proved a motivation not only for returning there but also for taking up the family business.

The business transfer has been completed during the past year. As she is no responsible for the family shop, she is being supported by her mother who is still very active there.

The shop, located in a very central area of the town has good chances to develop and grow and employ people again. But it needs a good understanding of today’s market and of the specific branch. This is one example where specialised experts and support from the local CCI could prove very crucial, especially as the young successor is still new in the specific branch –in spite of the fact that she has very good business development knowledge.

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Summary of the transferors’ profile:

1. Name: Not disclosed2. Age (about): 55 -60 3. Role (transferor, parent, friend, stranger…): Parent (mother) & transferor4. Type of business: Commerce; selling children’s clothes5. Why was the business transferred? Gradual transfer; age6. When the transfer process was actually initiated? Last 2 years7. Was there a business transfer plan? No. Only the need to ensure it within the family.8. How long did it take to complete the transfer? It is still going on in a way.9. What do you feel should improve to make the business better? The market has changed; it poses problems to growth.10. Involvement into the transferred business during the transfer period on going11. Key daily support Family12. Mental support / empowerment Family13. Contribution of local CCI None

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Summary of the successor’s profile:1. Name (if she accepts to disclose it) not disclosed2. Age (about) 28- 313. Role (transferor or successor) Successor & daughter4. Type of business Commerce; children’s clothes5. How she became involved a. education b. interest in entrepreneurship c. family transfer No boys in the family; other sister not interested in the businessd. other Husband is auditor6. Any development initiatives she took to develop the company a. technological investment b. construction and / or infrastructures c. ICT d. training of staff e. other…7. Was there a business plan? No; gradual transfer and on the job training8. How long did it take to complete the transfer? Legal and financial issues 3 months; “real “ transfer is on going9. Did she receive any funding / financing support? Internal transfer; family helped10. Any support from the local CCI? No11. Expectations, plans for development? Market challenges12. Involvement of transferor a. during the transfer period b. on going13. Key daily support Family; husband14. Mental support / empowerment Family; husband15. Would she require some help from REINO? Market development plan

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4th case study: KITCHEN FURNITURE FRANCHISE; TRANSFEROR & SUCCESSOR

Overview

The transferred business is a part of a strongly branded, foreign fran-chise, offering state of the art kitchen furniture. It was established by the father. The father started out as a carpenter, i.e. as self-employed skilled worker, with entrepreneurial dreams and talent. As years went by, and reflecting the market trends, he decided to become part of a high quality franchise chain. The father does not have higher education. But in his case this does not seem to have mattered. He has also been very active in the local society and is member if the board of directors of the local CCI.

This business has been going well and expanding. He is married, but no sons, only two daughters; both daughters have had higher education. One of them in interested in banking; the other one, studied design, and has been a born entrepreneur. Before she became involved in the family business, she established her own shop, selling design female lingerie. The shop was going well and had no problems. But the yea-rs were passing and the family business needed to be considered. At the same time, the design lingerie market in this town was becoming saturated. She decided to sell out the lingerie shop and become the successor of the family business. She started working with her father and the transfer formalities were finalised during the last year. However she had started taking initiatives with the style of the products that is promoted and the marketing already when she was in the “business transfer” phase.

Today, she is working as the new business manager, while her father is still involved in the business. The challenges that the business is fa-cing have to do with the market changes in demand, but also with the problem of finding skilled carpenters in the area. The business has a very strong local profile –for example, by employing locals rather than immigrants, and the new manager tries to maintain this profile and the close connection to the local society.

Evidently, this is business transfer reflects a rare case, where there is, so to say, in-house confluence of most or all the necessary positive ele-ments. But this is not accidental: it reflects the structured development that the company has followed for years and the added value on which

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it relies. It therefore confirms the importance of expert support in any business transfer.

Summary of the transferor’s profile:1. Name: not disclosed2. Age (about): 60-653. Role (transferor, parent, friend, stranger…): Father & transferor4. Type of business: Kitchen furniture; franchise; Production & commerce5. Why was the business transferred? Ageing6. When the transfer process was actually initiated? Some 4 years ago7. Was there a business transfer plan? No, but very careful steps8. How long did it take to complete the transfer? 1 year9. What do you feel should improve to make the business better? Successor has new ideas; but concern about the local market10. Involvement into the transferred business during the transfer period on going11. Key daily support Himself12. Mental support / empowerment Himself; family13. Contribution of local CCI Yes; some subsidies for business development programmes through EOMMEX

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Summary of the successor’s profile:1. Name (if she accepts to disclose it) not disclosed2. Age (about) 28-343. Role (transferor or successor) Successor & daughter4. Type of business 5. How she became involved education interest in entrepreneurship family transfer No boys in the family other 6. Any development initiatives she took to develop the company technological investment construction and / or infrastructures ICT training of staff other… Yes design & marketing7. Was there a business plan? Yes, internal; but no transfer plan8. How long did it take to complete the transfer? 1 year9. Did she receive any funding / financing support? Internal transfer; family helped10. Any support from the local CCI? Yes, but not for the transfer11. Expectations, plans for development? Yes; but market challenges (quantity of demand, and availability of skilled labour)12. Involvement of transferor during the transfer period on going13. Key daily support Father14. Mental support / empowerment FatherWould she require some help from REINO? Not much

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3.4. Findings, conclusions & recommendations

Findings

Gender barriers: •

There are entry barriers. They have to do with the values of the per-1. son but most importantly with the values of the family and society. For example, still, today, boys are preferred to girls when conside-ring the succession of the family business. But this can be explained also by the women’s attitude who often give up their professional activities once they become pregnant.

There are no evident operational barriers. Once a female successor 2. is committed to take up this activity, it is then ‘business as usual’. However, again, it is values that create some barriers: once a fema-le successor becomes pregnant, it is probable that they give up the business, which in turn reinforces the traditional view that women’s space is in the family and in the kitchen.

There appeared some activity related stereotypes (but not real bar-3. riers). For example, a woman is not suitable to do technical work, i.e. to make furniture herself, confirms a stereotype.

These findings are summarised in Table 10, see below.

Financial / funding barriers•

Funding / financing does not seem to be an issue. The business transfer and the subsequent business development are financed by friends and family, not through bank loans. As subsidies supporting business trans-fers do not exist in Greece, this option was not brought up.

Educational barriers•

Education is important. It is important precondition leading to the de-velopment rather than just survival and continuation of the transferred business. In the case studies, for example, only 50% is using ICT. The ICT usage is basic: communication exchange and marketing (web si-tes).

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Business condition / market barriers•

None of the discussions showed that transferors and successors were aware of the need to make any structural changes in the way they are running their business. Sometimes problems were admitted, but they were explained as results of market problems, such as more conserva-tive consumption patterns.

Decision making, career attitudes • Two factors seem to be very important in having positive impact on females as successors: (i) the appreciation of entrepreneurship in the family, and (ii) the position of the mother in the family and her occupa-tion.

Maximising the benefits, awareness, knowledge of the issue, • controlling the transfer

None of the businesses that form our pilot group have benefited of any special support by their local CCI nor by the national business support organisation (EOMMEX), nor by the national incentives & development law. On the other hand, they have benefited from the lately introduced tax alleviations. The main support has come from two sources: the lengthy experience, tacit knowledge and concern /commitment of the transferor in helping the successor, and the practical knowledge of their auditor/tax adviser. For example, it is important to remember that only one of the pilots asked practical help from the project.

Family transfer, external transfer: is there a difference?•

The pilot action has strongly confirmed the importance of the transfer of the tacit knowledge, and that this is not an exclusive benefit reserved for family transfers only. It has also shown that tacit knowledge transfer depends on the attitude, the mentality of the transferor. It appears that the transferor is the best mentor. The question is what to do when the transferor cannot or will not act as mentor. There is where local CCI1:s could help by setting up mentoring teams in collaboration –maybe- with their old members.

1 CCI= Chamber of Commerce and Industry

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Tacit knowledge and explicit knowledge: all types are neces-• sary

The pilot action confirmed that a successful business transfer involves three types of knowledge: explicit business development knowledge, explicit branch expertise, and transfer of tacit knowledge. The issue of tacit knowledge has been commented above. The BRC2:s, eventually, must set up registries not only of business experts, but also of branch expert consultants, reflecting the local economy’s needs.

Being prepared•

The family transfers were tacitly assumed for decades. In the case of a transfer outside the family, it took some 1 year to find the successor and train her on job and transfer the knowledge.

2 BRC:s = Business Renewal Centres, i.e. the special units that Greek CCI:as will set up to facilitate business transfers.

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Conclusions

Female behaviour in business transfers does not differ very much than that of their male counterparts. That’s why the recommendations made below are not meant only for women.

However there are entry barriers and sometimes operational barriers. Entry barriers relate to the values of the society as a whole regar-ding female entrepreneurship, and this is not an issue covered by the REINO project. However, operational barriers can be better addressed. For example, for young -and not so young- mothers, day care centres for babies and children are very important.

Recommendations

See the problem for what it is: crucial•

In Greece, we remind, only between 10%-15% of the small and micro ageing businesses change hands, the rest close down3. It implies negative impacts on the economy, the employment and society. This challenge has not been addressed by the Greek relevant authorities yet: the govern-ment has taken measures to alleviate taxes and facilitate the transfer of operational licenses; but addressing the massive closing down of ageing businesses has not been a first priority. The REINO project has shown how crucial is to address the issue of generation shift business trans-fers; it has also allowed identify, through the field research of the Greek sub project, the services that Greek transferors value most & prioritise: information, guidance and business viability assessments. But these fin-dings do not solve the problem only contribute to target the solution. It is necessary that relevant state and business organisations mobilise companies massively, and raise awareness across branches and types of businesses, insistently aiming at the improvement of the transfer rates.

Institutionalise the ideal flow chart•

The challenge, in Greece, regarding the support of business transfers, is to speed up the process service provision, and catch up in the range of sophisticated business services. Maybe institutionalising the ideal flow chart and committing to its application, is one way to do it. For examp-le, intense, systematic awareness raising activities must start; guidance for making a business transfer must be there; and so on.

3 REINO project, Baseline research, Greek sub project.

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Take more effective measures to support female entrepre-• neurship.

It is not enough to promote female involvement in business transfers, namely as successors. The larger challenge has to be addressed in pa-rallel, i.e. holistic, integrated measures promoting female entrepreneur-ship in general.

Make the BRC:s• 4 operational and focus their services

The BRC:s are at the moment part of the CCI:s and the UHCCI, i.e. of the public sector. As it has been said many times during the REINO project, this is a mixed blessing. The CCI:s are not used to provide development services to their members, while customer oriented approach is not common yet. Moreover, workshops with KETA representatives (Centres for the promotion of entrepreneurship) showed that the understanding of process tools lags seriously behind. So, maybe a first step would be to describe the qualifications of public sector business support staff and then reinforce them with training.

Keep the transition of the knowledge, encourage mentoring, • encourage female role models

The advantages of mentoring are well known, and its key role in tacit knowledge transmission is well known. However, mentoring is often discussed but rarely practiced in Greece. Mentoring is one case where the female and male services can be differentiated. Making a mentors’ registry should be one of the priorities of the BRC:s.

Business transfer is a special part of entrepreneurial acti-• vities, reinforce the knowledge resources and the available skilled experts

Succession entrepreneurship is one integral unit of entrepreneurial stu-dies and expertise. Greece does not have at the moment (May 2008) this kind of studies. Therefore, it is a challenge to set up a business transfers experts’ registry. In the USA, such studies at M.A. level take some 1-1,5 years. Maybe the UHCCI or EOMMEX or key CCI:s could promote such these skills by proposing a jointly financed study pro-gramme to colleges and universities.

4 Business Renewal Centre

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Stress and explicitly link business transfer to business deve-• lopment through the provision of specially formulated subsi-dies.

Stress and explicitly link business transfer to increased ICT • uptake, through the provision of specially formulated subsi-dies.

Greece is one of the very few countries that does not have special fun-ding tools to facilitate business transfers. This should be addressed and linked to development actions, so that transmitted businesses are acti-vely encouraged to not just continue, but mainly to develop.

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4. Selected references

4.1. The ideal business transfers flow chart of the Greek sub-project

Figure1 The action-units and structure of the ideal flow chart in the context of the Greek sub-

project

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4.2. EU Legislation on Gender Equality1

The EU legislation established in the area of gender equality enforces equal pay for women and men for same work and work of equal value; equal treatment in employment and vocational training, promotion and working conditions; equal treatment in social security (statutory and occupational schemes). It protects workers in cases of pregnancy and maternity; paternity in member states recognising such rights; specific rights for parental leave for fathers and mothers. Protection is ensured against direct and indirect discrimination based on sex, including marital or family status, as well as protection against harassment based on sex and sexual harassment. Victims of discrimination can go to Court and are protected by measures against retaliation. The legislation ensures reversal of the burden of proof (the presumed author of discrimination must prove that he/she did not make any discrimination) and sanctions for those who perpetrated the discrimination, as well as compensation for the victims. The EU promotes preventive measures against disc-rimination by employers, especially in cases of harassment based on sex and sexual harassment. Positive actions are endorsed for under-represented groups, equality plans in companies encouraged, the role of Social Partners and dialogue with non-governmental organisations emphasised. Moreover, EU legislation establishes a requirement to have bodies for the promotion of equality between women and men in every Member state.

One of the effects of the Amsterdam Treaty is that equal opportunities for women and men are now considered one of the fundamental aims of the Union. In the Treaty the Member States lay down that gender equality issues will be taken into account in all of the Union’s doings, or in other words that the Union will adopt what is known as the mainstre-aming strategy.

An important task in the EU is to supplement the treaties with laws – directives – that go into more detail about the goals that the Member States have agreed on in the treaties. In the field of gender equality there are a number of joint directives:

Council Directive of 10 February 1975 on the approximation of the • laws of the member states relating to the application of the principle of equal pay for men and women (75/117/EEC) stipulates equal pay for equal work and work of equal value;

1 http://www.gender-equality.webinfo.lt/results/european_union.htm

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Equal Treatment Directive (76/207/EEC) establishes prohibition • against direct or indirect discrimination (the latter means that a rule that appears to be neutral might in actual fact be disadvantageous for a particular group, as in the case of a decision by an employer to pay lower pensions to part-time workers, as almost all of those who work part-time are women);

Directive 2002/73/EC of the European Parliament and of the Council • of 23 September 2002 amending Council Directive 76/207/EEC on the implementation of the principle of equal treatment for men and women as regards access to employment, vocational training and promotion, and working conditions (Text with EEA relevance)

Council Directive 97/80/EC of 15 December 1997 on the burden of • proof in cases of discrimination based on sex stipulates who has to prove what in cases involving gender discrimination (it is up to the employer suspected of discrimination to show that there has been no discrimination based on gender in the workplace);

Council Directive of 19 December 1978 on the progressive imple-• mentation of the principle of equal treatment for men and women in matters of social security (79/7/EEC) guarantees equal rights to social security;

Council Directive of 24 July 1986 on the implementation of the prin-• ciple of equal treatment for men and women in occupational social security schemes (86/378/EEC) protects women’s and men’s right to be treated equally where company or occupational social securi-ty schemes are concerned, with regard to pension entitlement, for instance;

Council Directive of 20 December 1996 amending Directive 86/378/• EEC on the implementation of the principle of equal treatment for men and women in occupational social security schemes (96/97/EC)

Council Directive of 3 June 1996 on the framework agreement on pa-• rental leave (96/34/EC) stipulates that both women and men should have the right to at least three months unpaid parental leave;

Council Directive 92/85/EEC of 19 October 1992 on the introduction • of measures to encourage improvements in the safety and health at work of pregnant workers and workers who have recently given

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birth or are breastfeeding establishes the rights of the women who are pregnant or who have just given birth: the right to at least 14 weeks leave in connection with the delivery and the right to retain their wages or other forms of remuneration.

Council Directive 86/613/EEC of 11 December 1986 on the applica-• tion of the principle of equal treatment between men and women engaged in an activity, including agriculture, in a self-employed ca-pacity, and on the protection of self-employed women during preg-nancy and motherhood.

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4.3. Good Practises in Women Support Structures

THE ‘BUSINESS WOMEN CENTRE’ (Austria)1. www.bfc.at

THE ‘WOMEN’S ENTERPRISE AGENCY’ (Finland)2. www.naisyrit-tajyyskeskus.fi

THE ‘FLYING ENTREPRENEUR’ PROGRAMME (Belgium)3. www.markantvzw.be

THE ‘GUARANTEE FUND FOR WOMEN’ (France)4. www.esfin-ides.com

THE ‘REINFORCEMENT OF FEMALE ENTREPRENEURSHIP’ 5. PROGRAMME (Greece) (EOMMEX) www.ypan.gr

WOMEN IN BUSINESS SKILLS TRAINING’ (Ireland)6. www.wceb.ie

THE ‘ENTERPRISE CREATION SHOP’ (Italy) 7. www.confartigia-nato.it

‘MENTORING MAKES SUCCESS’ (Luxembourg) 8. www.zarabina.lu

‘WOMEN IN FOCUS’ (Norway) www.snd.no9.

THE ‘SUPPORT OF FEMALE ENTREPRENEURSHIP’ PROGRAMME 10. (Portugal) www.poefds.pt

THE WOMEN’S INSTITUTE SERVICES: THE ‘EMPRESARIAS-NET’ 11. PROGRAMME (Spain) www.mtas.es/mujer

‘BUSINESS ADVISERS FOR WOMEN’ (Sweden) www.nutek.se12.

‘ON LINE COURSE FOR FEMALE ENTERPRISE STARTERS’ (Germany) 13. www.gruenderinnen.de

‘WOMEN INTO THE NETWORK’ (United Kingdom) www.networking-14. women.co.uk

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4.4. Best project ‘Promoting Entrepreneurship amongst Women’

DG Enterprise ran the Best project ‘Promoting Entrepreneurship amongst Women’ aimed at identifying best practices for the promotion of female entrepreneurship and at disseminating them across Europe. This was done principally via a study and a subsequent European stakeholder forum. The evaluation criteria for the Best project are listed in Table 5 below.

Table 5 Examples of indicators for monitoring and evaluating programmes promoting female entrepreneurship in the various domains (see the next page)

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Measures Output Result ImpactNumber of supported business start ups by women

Number of one-stop-shops established for potential female entrep-reneurs Number of supported IT training course for female entrepreneurs

Number of training cour-ses financed for female entrepreneurs

Number of hours of con-sultancy services financed for female entrepreneurs

Number of female ent-repreneurs who received advice in the field of pro-duct marketing

Number of paid or vo-lunteer mentors with ap-propriate skills

frequency and lengths of meetings between mentor and mentee offered

Number of female ent-repreneurs provided with information on export markets

Number of inquiries rela-ted to research and deve-lopment issues

Number of female ent-repreneurs who received grants for investment projects

Number of guarantees provided for business take -overs by women

Number of conferences and exhibitions organised for female entrepreneurs

% of business start ups by women in high tech sectors

Number of businesses started by women follo-wing assistance

Number of women who have attended the cour-ses and improved their IT skillsNumber of female ent-repreneurs who have gained a qualification

Rate of satisfaction among women entrepre-neurs who received con-sultancy services% of women entrep-reneurs who increased their marketing activity due to advice

Number of successful matches between mentor and mentee

Rate of satisfaction with the mentoring relation-ship among mentees

number of female ent-repreneurs’ becoming new exporters

Number of women ent-repreneurs doing rese-arch and development

Number of investment projects realised success-fully by female entrepre-neurs

Number of enterprises successfully taken over by women entrepreneurs

Average number of newly established contacts by participating female ent-repreneurs

Gross value added in newly established bu-sinesses after one yearsurvival rate of as-sisted start ups by wo-men after three years

Number of business start ups in the IT branch by women ent-repreneurssurvival rate of enter-prises run by women who participated in the training% of women entrep-reneurs who have inc-reased their activities due to consultancy% of increased tur-nover due to impro-ved due to improved marketing activities in these enterprises

Number of women starting their own bu-siness due to mento-ring service% of women with an improved work life ba-lance due to mentoring

% of export sales in the turnover of as-sisted enterprises after 18 months

Number of patents applied for or provided to women entrepre-neursAnnual value added generated by invest-ments of female ent-repreneurs after one yearSurvival rate of enter-prises taken over by women after the first 3 yearsNumber of long term commercial business relationships establis-hed by female entrep-reneurs

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Measures Output Result ImpactNumber of women visiting the web site of a networ-king service

Number of women parti-cipating in online discus-sions

Number of women re-gularly using network technologies for busi-ness opportunities

Most of these best practice measures and evaluation criteria have been integrated into the business plan of the Business Renewal Centre.

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5. Bibliography

European Commission. European Seminar on the Transfer of 1. Businesses Final Report, 2003

DG Enterprise EC, 2. WOMEN’S ENTREPRENEURSHIP PORTAL, European Commission Enterprise Directorate-General B/3 B - 1049 Brussels http://ec.europa.eu/enterprise/entrepreneurship/craft/craft-wo-men/womenentr_portal.htm

DG Enterprise EC, Innovation & Technology Transfer, March 2004: 3. Women entrepreneurs; ftp://ftp.cordis.lu/pub/itt/docs/itt04-3_en.pdf

Women entrepreneurs and co-entrepreneurs, European 4. Commission Enterprise Directorate-General B/3 B - 1049 Brussels, 2005,

Leonardo da Vinci programme report, 5. Good Practices: about Equal Opportunities in enterprises, 2004

The Entrepreneurship Gender Gap in Global Perspective: 6. Implications for Effective Policymaking to Support Female Entrepreneurship; Go Insights Journal, Briefing Note Number 22 October 2005

DTI, UK 7. Passing the baton – encouraging successful business trans-fers: Evidence and key stakeholder opinion, December 2004

Irene Mandl, Project Manager, KMU FORSCHUNG AUSTRIA 8. (Austrian Institute for SME Research), Business Transfers and Successions in Austria; 2004, www.kmuforschung.ac.at

Female business advisers for female entrepreneurs: the Swedish 9. Review.

Susan Henry, Community Economic Development Specialist, 10. Good Practice in Business Development Services: How Do We Enhance Entrepreneurial Skills in MicroFinance Integartion Clients?; Toronto, Canada; July 2006

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CHAMBERS AGAINST STEREOTYPES IN EMPLOYMENT – CH.A.S.E._ 11. A project supported from the European Community – Program re-lating to the Community Framework Strategy on Gender Equality (2001-2005); GREEK REPORT ON THE IDENTIFICATION OF STEREOTYPES AGAINST WOMEN, Union of Hellenic Chambers of Commerce & Industry, 2005.

Association of Chartered Certified Accountants (ACCA), 12. Successful business transfers – do women face discrimination?, policy briefing paper, July 2005; ACCA 29 Lincoln’s Inn Fields London WC2A 3EE / 020 7059 5751 or 5726 / www.accaglobal.com

Association of Chartered Certified Accountants (ACCA), 13. Business Transfer, policy briefing paper, June 2005; ACCA 29 Lincoln’s Inn Fields London WC2A 3EE / 020 7059 5751 or 5726 / www.accaglo-bal.com

Bedman, Narteh; 14. Knowledge transfer in developed-developing country interfirm collaborations: a conceptual framework, Journal of Knowledge Management, January 2008, Volume 12, Issue 1, Emerald Group Publishing ltd.

Sambrook, Sally; 15. Exploring succession planning in small, growing firms; Journal of Small Business and Enterprise Development, 2005, Vol 12, Issue 4, Emerald Group Publishing ltd.

Frankel, July; 16. Supporting the Family Business; 27.05.2008, http://buswire.ocr.wisc.edu/leadstory/20041001.php

Motwani, Jaideep Grand Valley State University, USA, et al; 17. Succession Planning in SMEs: An Empirical Analysis; International Small Business Journal.2006; 24: 471-495

Lee, Yoon G. et all; 18. A Profile of Succession Planning among Family Business Owners; Financial Counseling and Planning, Volume 14 (2), 2003; ©2003 Association for Financial Counseling and Planning Education.

Dr. Sonja Hornsteiner , 19. Management Academy for Female Entrepreneurs: 3 electronic platforms for female entrepreneurs; Austria; local Interreg III 2002-2003; sonja.hornsteiner@wktirol.at

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OECD REVIEW OF CAREER GUIDANCE POLICIES, France - National 20. Questionnaire, IEKEP – Institute of Training and Vocational Guidance, Zoe Albani - April 2001. (See Section 5 “Targeting and access”) http://www.trainingvillage.gr/etv/Upload/Projects_Networks/Guidance/Policy_review_survey/National_Responses/Greece_EN.doc

CAREER GUIDANCE: A handbook for policy makers, OECD & The 21. European Commission 2004. (See Section 8 “Expanding access to career guidance”),http://www.oecd.org/dataoecd/53/53/34060761.pdf

Website of the Research Centre for Gender Equality (KETHI) 22. http://www.kethi.gr/ and http://www.trainingvillage.gr/etv/upload/Projects_Networks/Guidance/policy_practice_examples/Guidance_for_women_in_Greece.pdf; -à ANNEX B

Table 1 Annex B: Integrated action plan for gender equality

Εισαγωγές Σχέδια δράσης Αποτελέσματα Δείκτες «απτά»

Ομάδα στόχος Συμβουλευτική Ατομική

Ομαδική

Τοποθέτηση στηναγορά εργασίας

Αξιοποίηση υφιστάμενων κεντρικών και τοπικών δράσεων για ένταξη στην αγορά εργασίας

Δεδομένα σε σχέση με την ομάδα στόχο

Συμβουλευτική προς την κοινότητα

Ανάπτυξη επιχειρηματικότητας

Υφιστάμενες θέσεις απασχόλησης

Ευαισθητοποίηση και δικτύωση

Ανάπτυξη απόκτηση δεξιοτήτων

Κατάρτιση

Υφιστάμενες αναπτυξιακές δυνατότητες

Ανάπτυξη τοπικών αναπτυξιακών πολιτικών

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Εισαγωγές Σχέδια δράσης Αποτελέσματα Δείκτες «απτά»

Το σχέδιο δράσης είναι σύμπραξη τοπικών φορέων της περιφέρειας οι οποίοι έχουν συμφωνήσει στην υλοποίηση ολοκληρωμένης ενέργειας

Σε εθνικό επίπεδο: Ανάπτυξη επαφών και σχέσεων ανάμεσα στα σχέδια δράσης για την αλληλοενημέρωση και την μεταφορά εμπειρίας

Συμβολή στην δημιουργία «αναπτυξιακού κλίματος» στην τοπική κοινωνία

Συμβολή στην εδραίωση μιας αναπτυξιακής «συν-αντίληψης» στην τοπική κοινωνία, και της θέσης των γυναικών σε αυτή

Υφιστάμενες δράσεις και πολιτικές από 3ο ΚΠΣ και άλλες παρεμβάσεις (π.χ. Leader, Equal, Καινοτομικά κλπ)

Υποκίνηση δομών και δημιουργία υποστηρικτικών μηχανισμών

Δημιουργία τοπικών συμπράξεων που υποστηρίζουν την «συναντίληψη»

Υφιστάμενα φορείς εκτός σχεδίου δράσης

Συμβολή στην ανάπτυξη τοπικών πολιτικών

Εκπόνηση ή συμβολή στην εκπόνηση τοπικών αναπτυξιακών πολιτικών

”Η ανισότητα των αμοιβών ανδρών και γυναικών σε επιλεγμένους 23. κλάδους και επαγγέλματα στην Ελλάδα.”, ΚΕΝΤΡΟΥ ΕΡΕΥΝΑΣ ΘΕΜΑΤΩΝ ΙΣΟΤΗΤΑΣ (ΚΕΘΙ- KETHI),, Athens, March 2003

Ισότητα των αμοιβών μεταξύ γυναικών και ανδρών στις συλλογικές 24. διαπραγματεύσεις, ΚΕΝΤΡΟΥ ΕΡΕΥΝΑΣ ΘΕΜΑΤΩΝ ΙΣΟΤΗΤΑΣ (ΚΕΘΙ- KETHI), Athens 2002.

Προσδιοριστικοι Παραγοντες Του Μισθολογικου Χασματος Μεταξυ 25. Ανδρων Και Γυναικων, ΚΕΝΤΡΟΥ ΕΡΕΥΝΑΣ ΘΕΜΑΤΩΝ ΙΣΟΤΗΤΑΣ (ΚΕΘΙ- KETHI), Athens 2003.

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Christos Kitsos (Athens TEI), Stamatina Hadjidema (University of 26. Piraeus), George M. Korres(University of the Aegean): A Study For The Determinant Factors And The Role Of Female Entrepreneurship In Greek Enterprises, Ελληνικό Στατιστικό Ινστιτούτο (Greek National Satistical Service), Πρακτικά 18ου Πανελληνίου Συνεδρίου Στατιστικής (2005) σελ.451-457

ACCA report (2002) Family planning for small business27.

Smith, J. (2005) [untitled] - Presented at a networking reception 28. at Lancaster House on International Women’s Day, 8 March 2005 (http://www.sbs.gov.uk/default.php?page=/press/news192.php)

Mari Jylhäkangas, 29. The Motivational Factors of Finnish Women to become Entrepreneurs, Jyväskylä UAS, bachelor’s thesis, October 2007.

Initiative for Start-ups and Business Transfer30. , Baden Wűrtenberg (http://www.regstrat.net/download/stuttgart/2007-01-30_upfold.pdf, www.frauen.newcome.de)

Heike Mayer, Urban Affairs and Planning Program - Virginia 31. Polytechnic Institute and State University; Darrene Hackler, George Mason University-Public and International Affairs; Christiana McFarland,Urban Affairs and Planning Program Virginia Polytechnic Institute and State University: Skills, Capital and Connections, too: A Regional Social Environment Perspective of Women Entrepreneurs, Forthcoming in the Canadian Journal of Regional Science

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PUBLISHED REINO PROJECT WORKING PAPERS

5. Tapani Hirvonen. 2008. Employee-Buy-Out (EBO) Model in Business Transfers.

4. Toni Brunello. 2008. The Bank of Cases: Manual, Tool and Example Cases.

3. Jan Sten - Sakari Oikarinen. 2007. Process Flow Chart for Business Transfers.

2. Johanna Salmi - Veli-Matti Koljonen. 2007. The Outcomes and the Evaluation of the Pilot Project “Anticipation Method”.

1. Ari Peltoniemi (ed.). 2007. Baseline Analyses: Denmark, Finland, Greece and Italy.