Saxon milestone has been launched

The application period for the Saxon Milestone award has begun. They are seeking successors who have successfully implemented a generational transition. The application deadline is August 21st.

This article is part of the special feature " Interesting competitions for craftspeople".

The Saxony Guarantee Bank is seeking successors who have successfully implemented generational transitions. Small and medium-sized enterprises (SMEs) in Saxony can now submit their applications for the Saxon Milestone Award. The prize will be awarded in the categories of family succession, internal succession, and external succession. An additional special prize will be awarded by the jury. A total of €17.000 in prize money is available.

Companies from Saxony that have been successfully transferred within the last four years are eligible to participate. A prerequisite for participation is the complete transfer of management and at least fifty percent of the company shares to the new owners. The application period ends on August 21. The application form is available online at saechsischer-meilenstein.de . For the first time, employees and external parties can also nominate deserving companies as candidates.

Fewer and fewer potential successors

"Every life's work deserves a future. But demographic trends are changing the business landscape: Fewer and fewer potential successors will be available in the coming years. Therefore, early and strategic business succession remains a central task of our economic policy. Every successful acquisition secures jobs, prosperity, and added value directly in our local communities. The established 'Saxon Milestone' competition puts successfully managed successions in the spotlight," says Saxony's Minister of Economic Affairs, Dirk Panter (SPD). He is the patron of the competition.

Markus H. Michalow, Managing Director of the Guarantee Bank, explains: "The Saxon Milestone demonstrates year after year how generational change can succeed – even in the face of resistance and challenges. We're not looking for straightforward takeover stories. We're looking for stories that life itself writes. With the nominations and awards, we bring these stories to light. Apply now so we can raise your company's profile and encourage future successors."

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Award ceremony in Dresden

With this award, the Guarantee Bank aims to highlight successful succession solutions and inspire future generations. Participants and those interested in taking over a business have the opportunity to expand their network of contacts in business, academia, and politics through networking events. The first step involves selecting nominees from all applications. The Guarantee Bank of Saxony will announce these nominees this fall. A jury will then select the winners. The award ceremony will take place on November 3rd at Albrechtsberg Castle in Dresden.

Further information and application documents: saechsischer-meilenstein.de

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