Overview
- KfW analysis projects about 114,000 business closures per year through 2029, with 569,000 owners planning no continuation versus 545,000 seeking succession.
- Findings draw on the KfW-Mittelstandspanel survey of more than 13,000 firms conducted from February to June 2025.
- Owners most often cite missing family successors (47%) and a heavier administrative burden (42%, up 12 percentage points year on year), with KfW estimating bureaucracy consumes about 7% of working time.
- Expected sale prices for external successions have climbed to an average of €499,000 and a median of €375,000, and a larger share of owners now target over €1 million.
- With 57% of owners aged 55 or older and takeover-style start-ups down to 17% of new businesses in 2024, craft groups warn of a “silent dying” that could erode jobs, skills and local services.