VALO - National Centre of Excellence for Business Transfer

Background:
Business transfer (BT) is a topic that concerns the whole of Finland. Therefore, the success of BT is not just a matter for one province or municipality. In recent years Finland has experienced far too few BTs. As a result, almost half of small businesses cannot find a successor. According to statistics, there should be 5,000 BTs per year in Finland, but currently only about half of them takes place. According to the SME Barometer Spring 2021, almost 40% of SMEs plan BT in the next ten years.

In rural areas, challenges are posed by the concentration and withdrawal of services from rural areas and by the different practices of the provinces. Developing public-private and third sector cooperation is key to addressing these challenges.

Goals:
The project aims at: 1) deliver equitable and accessible BT services and 2) strengthen the capacity of service providers. The e-services to be provided on the platform include buyer and seller self-assessment tests, an interactive BT service pathway and a database of information and materials. The VALO Academy online courses will support and strengthen the professional development of public business advisors. The training will also clarify the possibilities for cooperation and activities of market-based actors such as business brokers and law firms.

Implementation:
The project will develop a nationwide digital BT platform, enabling easy and equitable access to electronic BT offering. The project will be developed in cooperation with OV-Forum actors and BT expert networks.
The e-services will facilitate BT, especially in rural and sparsely populated areas. The platform will also enable international activities, e.g. the acquisition of foreign buyers.

The online service site:
The project's service site on changing ownership is now available at ovinfo.fi in Finnish.

The VALO project is implemented by the University of Oulu, Kerttu Saalasti Institute / Microentrepreneurship Centre MicroENTRE and the co-implementer is the Entrepreneurs Association of North Ostrobothnia.