Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure LU-2000-23/2535 – measures in Luxembourg
|Country||Luxembourg , applies nationwide|
|Time period||Open ended, started on 01 June 2000|
|Context||Restructuring Support Instruments|
|Type||Legislations or other statutory regulations|
Reorientation of business activities
|Author||Patrick Thill (LISER) and Eurofound|
|Measure added||23 June 2022 (updated 14 November 2022)|
The initiative is run by the Chamber of Crafts (Chambre des Métiers) and the Chamber of Commerce (Chambre du Commerce).
The "Bourse d'entreprises" aims to facilitate and encourage the transfer and takeover of craft enterprises. In this context, a Charter has been established with the aim of making its management and operation transparent, of the services offered and the commitment of the Chambre des Métiers and the members.
The Companies' Exchange of the Chamber of Commerce provides a platform on which business owners can offer to sell their company and potential business buyers can look for a company to purchase. The objective is to bring buyers and sellers together and to conclude a transfer.
The owner has to fill in a relatively detailed form (fiche signalétique). This requires details on issues such as the type of business, its location, its legal form, the number and qualification of employees, the language used in the business, and the size of the business premises. However, in order to protect the anonymity of firms, this detailed information is not published. It is only used in the matching process.
The collected data are analysed and the most relevant features are included in a summary. The Chamber of Crafts publishes all of this summarised information on the internet and an extract in its regular publication called d´Handwierk. Interested people or enterprises must first contact the Chamber. If both parties agree, the Chamber will then organise an initial meeting between the potential partners. The Chamber will mediate these meetings and will also give free advice on issues such as legal and financial matters. There are no costs involved for participants and advertisements are published for an unlimited period.
The Chamber of Commerce manages its own 'Business Exchange' in cooperation with the Chamber of Crafts. Both participate in a project of transborder successors' bourses that covers Luxembourg and the two French regions Alsace and Lorraine.
According to the Chamber of Crafts, the measure is quite efficient. Over 100 participants are permanently registered with the crafts sector. It can be estimated that between 100 and 150 takeovers are carried out every year in Luxembourg and around 15 of these occur in the crafts sector. Since 2000, the Chamber of Crafts has had 350 clients on this scheme, with a success rate of about 10%.
According to the Chamber of Commerce, in 2015 (latest data available), 25 new offers of business to take over in Luxembourg were published and 58 new recovery applications were registered. In terms of personal advice, 56 interviews were conducted. Finally, 35 contacts between sellers and potential buyers were organised by the advisors of the Chamber of Commerce.
|Does not apply to workers||Applies to all businesses||Does not apply to citizens|
Company / Companies
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
Eurofound (2022), Successors bourse, measure LU-2000-23/2535 (measures in Luxembourg), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/LU-2000-23_2535.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.