Passing the baton – encouraging successful business transfers

The review’s outcomes support the Government’sstrategic policy framework for small businesses by:■ building an enterprise culture and encouraging newentrepreneurs to acquire an existing business,something that carries a lower risk than starting anew one;■ encouraging a more dynamic start-up market byencouraging the acquisition and subsequent growth ofestablished businesses;■ encouraging small business growth by facilitating asuccessful change of ownership and transfer ofknowledge, skills and other intangible assets; and■ encouraging more enterprise in disadvantagedcommunities and under-represented groups byensuring that businesses which are commerciallyviable and critical to the fabric of the community, findnew owners and continue to trade.[...]