Saxon milestones to be awarded

By Annett Kschieschan

Dresden. Until August 31, entrepreneurs from Saxony can still apply for the "Saxon Milestone 2023" apply. The prerequisite is that a successful succession plan has been implemented in the company between 2019 and 2022. Since 2011, the Bürgschaftsbank Sachsen GmbH together with the Mittelständische Beteiligungsgesellschaft Sachsen mbH and under the auspices of the Saxon State Ministry for Economy, Labor and Transport convincing takeover concepts with the "Saxon Milestone".

Each category is endowed with 3,000 euros, plus a special prize of 1,000 euros. The award ceremony will take place on November 20, 2023 at the Dresden Albrechtsberg Castle will take place. The patron is Saxony's Minister of Economics Martin Dulig.

The award is intended to focus attention on the issue of corporate succession. Every year in the Free State, around 1,000 medium-sized companies are faced with the question of who will take over the business after the management retires due to age. "We want to inspire young people and show them the advantages and opportunities of taking over a company. At the same time, entrepreneurs should be encouraged to start planning the company succession at an early stage, even if retirement still seems a long way off," says Markus H. Michalow, Managing Director of Bürgschaftsbank Sachsen GmbH (BBS).