When children don’t want to take over their parents’ businesses, they can be forced out of business, a new report shows. Now that shoe saleswoman Lotta Törngren is retiring soon, no one wants to take over the family business, which may have to close down.
She runs a shoe store in Bäckebol in Gothenburg, a business that has become her life’s work and which she took over from her parents in the 70s. But soon the store may be forced to close, if no buyer is found. Because her children do not want to take over the family business now that she is retiring.
– I think they want to do something else and not stay in one place for as long as I have, says Lotta.
But Lotta Törngren is not alone. Recently, the company Visma did a survey which shows that every third small business owner in Sweden may be forced to close because the children do not have the interest to take over.
Hear the business expert explain more in the player above.