Business succession in Austria
Key figures, opportunities and how to find acquisition targets (2026 overview)
Contents
- Business succession in Austria: the handover wave in numbers
- What sets Austria apart from Germany and Switzerland
- The Austrian succession landscape: where the targets are
- Using data to identify succession targets in Austria
- Tax considerations for business acquisitions in Austria
- Succession in Austria: why now is the right time
- Conclusion: Austria’s succession market is the most underrated buyer’s market in DACH
- FAQ: Business succession in Austria
Business succession in Austria: the handover wave in numbers
Austria is in the midst of the largest wave of business handovers in its economic history. The figures are clear, and the consequences for buyers, investors and entrepreneurs looking to take over a business are considerable.
Metric | Value | Source |
|---|---|---|
Companies due for handover (2025–2034) | 52,500 (excluding one-person businesses) | BMWET / WKO, 2025 |
Jobs affected | 705,000 | BMWET, 2025 |
Share of all employer companies | 23% | KMU Forschung Austria |
Succession within the family | Approx. 55%, declining | WKO factsheet 2025 |
Successful handovers in 2024 | 7,792 (+4.9% on 2023) | WKO, 2025 |
Successors who increased revenue | 61% | WKO Succession Monitor |
Successors who hired additional staff | 36% | WKO Succession Monitor |
What these figures mean for buyers: 52,500 companies over ten years equates to more than 5,000 a year. With the rate of succession within the family falling (currently around 55%, compared with over 70% ten years ago), the number of businesses that need an external buyer grows every year. That is not a problem – it is an investment opportunity. The data proves it: 61% of successors increase revenue and 36% hire additional staff. Business takeovers in Austria demonstrably create value.
What sets Austria apart from Germany and Switzerland
Business succession in the DACH region is often treated as a uniform phenomenon. In practice, there are considerable structural differences between Austria, Germany and Switzerland that buyers need to be aware of:
Factor | Austria | Germany | Switzerland |
|---|---|---|---|
Market size (handovers per decade) | 52,500 | 190,000 (IfM Bonn, 2026–2030) | Approx. 75,000 (SME research) |
Dominant legal forms among SMEs | Sole proprietorship, GmbH, GmbH & Co KG | GmbH, GmbH & Co. KG | AG, GmbH, sole proprietorship |
Inheritance and gift tax | No inheritance tax since 2008 | Inheritance tax with relief rules for business assets | Varies by canton, usually low |
Key institutional point of contact | WKO succession exchange (Nachfolgebörse), WKO start-up service (Gründerservice) | IHK (chamber of commerce) succession exchanges, KfW | Federal government SME portal (KMU-Portal) |
Goodwill amortisation for buyers | 15 years (tax-deductible) | 15 years (Section 7(1) of the German Income Tax Act, EStG) | No direct goodwill amortisation |
New support programme (2026) | NextGen4Austria (BMWET + WKO) | No comparable federal programme | No comparable federal programme |
Equity investment allowance (Beteiligungsfreibetrag) | Up to €100,000 over 5 years (planned) | No comparable allowance | No comparable allowance |
Cultural characteristics | Strong regional roots, strong identification with the federal state, compulsory chamber membership | Mittelstand ethos (owner-managed mid-sized companies), “hidden champions” | Federalism, cantonal differences |
Three features that make Austria particularly attractive to buyers:
First, the tax advantages. Austria has not levied inheritance or gift tax since 2008. This means that a handover within the family is less complicated from a tax perspective than in Germany. For external buyers, goodwill can be amortised over 15 years, which reduces the effective tax burden of the acquisition. In addition, since 2025 there has been a grace period procedure under which the tax office confirms to the successor in writing that there are no outstanding tax liabilities from the past.
Second, NextGen4Austria, a new support programme. Since February 2026, the BMWET (Federal Ministry of Economy, Energy and Tourism) and the WKO (Austrian Economic Chambers) have jointly offered free coaching for potential successors, consultancy grants for external experts and regional workshops in all federal states. It is the first nationwide programme of its kind in the DACH region and sends a clear signal: Austrian policymakers treat succession as a strategic priority.
Third, the size of the market relative to the attention it receives. With 52,500 handovers and a population of around 9 million, Austria has more companies up for handover per capita than Germany. At the same time, the Austrian succession market receives far less attention from international PE funds and investors than the German one. The result: less competition on the buy side and better terms.
The Austrian succession landscape: where the targets are
The handover wave is not spread evenly across industries and regions. For buyers, knowing where it is concentrated is crucial:
By industry
Industry | Succession relevance in Austria | Typical profile |
|---|---|---|
Trades and crafts | Very high (largest WKO division, approx. 36% of handovers) | Skilled trade businesses, manufacturing companies, construction and finishing trades. Often rooted in the region, with high customer loyalty and a strong dependence on the owner. |
Commerce | High (approx. 20% of handovers) | Wholesale, specialist technical distribution, niche-focused retail. According to Creditreform, 39.5% of retail and wholesale companies have no succession plans, which points to a high risk of closure. |
Information and consulting | Medium to high, growing | IT service providers, management consultancies, engineering firms. Often project-based and knowledge-intensive. The most exciting targets for PE funds and strategic buyers. |
Tourism and leisure | High (specific to Austria) | Hotels, restaurants, leisure facilities. Strongly seasonal and regional, often with a real estate component. Very attractive to buyers with industry expertise. |
Transport and logistics | Medium | Freight forwarders, haulage companies, logistics service providers. Consolidation potential, often owner-managed. |
By federal state: all nine states at a glance
The intensity of succession varies considerably by region. Rural federal states have proportionally more handovers because entrepreneurial density is higher and the start-up rate lower than in Vienna. The table below gives a complete overview of all nine Austrian federal states:
Federal state | Succession intensity | Economic profile | Typical succession targets | Key points for buyers |
|---|---|---|---|---|
Upper Austria (OÖ) | Very high | Austria’s number one industrial state: automotive suppliers, mechanical engineering, plastics, steel | Manufacturing SMEs with 20–200 employees, technology-oriented, strong exporters | H1 2025: 338 business handovers against 3,727 start-ups. Highest industrial density, with many hidden champions in the Innviertel and Mühlviertel regions. WKO Upper Austria offers intensive succession advice. |
Lower Austria (NÖ) | High | Diversified: food processing, construction, viticulture, commerce, trades | Skilled trade businesses, construction and finishing trades, food producers, wineries | The largest federal state by area, with many SMEs in rural municipalities. Proximity to Vienna makes Lower Austrian companies attractive from a logistics perspective. The chair of Junge Wirtschaft Lower Austria (the WKO’s young entrepreneurs’ network) has made succession a priority. |
Vienna (W) | Medium | Services, IT, consulting, creative industries, commerce, hospitality | IT service providers, agencies, consultancies, specialist retailers, hospitality businesses | More start-ups than handovers. Succession is concentrated among knowledge-intensive service providers and bricks-and-mortar retail. The highest density of consultancies that are themselves facing succession. |
Styria (Stmk) | High | Automotive industry (Graz area), mechanical engineering, timber industry, tourism (thermal spa region) | Automotive suppliers, metalworking companies, wood processors, thermal spa businesses | A mix of high-tech industry (ACstyria cluster around Graz) and traditional trades. Upper Styria has a particularly high need for succession in manufacturing. |
Tyrol (T) | High, shaped by tourism | Hotels, restaurants, cable car operators, retail, construction | Hotels (3–5 stars), restaurants, ski resort suppliers, construction companies | Tourism dominates handovers. The real estate component significantly increases the transaction value: a Tyrolean hotel is often 50% property and 50% operating business. Seasonality requires industry-specific expertise. |
Vorarlberg (Vbg) | High | Industry (textiles, metal, plastics), tourism (Bregenzerwald, Arlberg), commerce | Manufacturing businesses, textile companies, niche manufacturers, hotels | The smallest federal state by area after Vienna, but with an above-average industrial density. Strongly export-oriented (close to Switzerland and southern Germany). A distinct business culture with a strong focus on quality. |
Salzburg (Sbg) | Medium to high | Tourism (city and state of Salzburg), commerce, food, timber industry | Hotels, hospitality businesses, trading companies, food processors | Dual structure: the city of Salzburg as a services and cultural hub, the wider state of Salzburg as a tourism and agricultural region. The festival city attracts international buyers. |
Carinthia (K) | Medium to high | Tourism (Lake Wörthersee, ski resorts), timber industry, electronics, commerce | Tourism businesses, wood processors, electronics suppliers, skilled trade businesses | Carinthia has a strong timber and electronics sector (Infineon site in Villach). Tourism is dominated by lake and winter destinations. Bilingualism (German/Slovenian in the south) can be relevant in cross-border transactions. |
Burgenland (Bgld) | Medium | Viticulture, agriculture, tourism (Lake Neusiedl), trades | Wineries, agricultural businesses, skilled trade businesses, smaller tourism businesses | Structurally the weakest federal state, but with growing momentum thanks to its proximity to Vienna and Bratislava. Viticulture in particular offers attractive succession cases. EU funding plays a bigger role in investment than in other federal states. |
Where the targets are: industries by federal state
If you are looking for… | …then focus on |
|---|---|
Industrial SMEs, mechanical engineering, automotive suppliers | Upper Austria, Styria (Graz area), Vorarlberg |
IT service providers, software, consulting | Vienna, Graz, Linz |
Hotels, restaurants, tourism | Tyrol, Salzburg, Carinthia, Vorarlberg (Arlberg), Styria (thermal spa region) |
Construction and finishing trades, building services | All federal states, especially Upper Austria, Lower Austria and Tyrol |
Food processing, viticulture | Lower Austria, Burgenland, Styria |
Timber industry, forestry | Styria, Carinthia, Salzburg, Upper Austria |
Textiles, niche manufacturing | Vorarlberg |
Commerce (wholesale and specialist distribution) | Vienna, Upper Austria, Salzburg, Lower Austria |
Electronics, microtechnology | Carinthia (Villach), Styria (Graz) |
Key insight for buyers: The most attractive succession targets in Austria are not in Vienna. They are in Upper Austria (manufacturing, highest industrial density), Styria (automotive cluster, timber industry), Tyrol and Vorarlberg (tourism and export-oriented industry) and Lower Austria (diversified Mittelstand, logistics advantages thanks to its proximity to Vienna). If you only search in Vienna, you will miss most of the market.
Using data to identify succession targets in Austria
The WKO succession exchange (Nachfolgebörse) is a good first port of call, but it only shows companies that are already actively looking for a successor and have placed a listing. As in Germany, that is only a fraction of the actual market.
If you want to identify succession targets in Austria proactively, before they become public, you need to read data signals:
Signal | What it reveals | Why it is particularly relevant in Austria |
|---|---|---|
Managing director over 60, sole shareholder | High probability of succession | In Austria, around 95% of all companies are owner-managed. The combination of age and sole shareholding is the strongest predictor. |
No authorised signatory (Prokurist) in the Austrian company register (Firmenbuch) | No second management tier, high dependence on the owner | The Austrian Firmenbuch is publicly accessible. The absence of an authorised signatory signals that without the owner, the company comes to a standstill. |
Sole proprietorship or GmbH with a single shareholder | No co-shareholders who could take over internally | Sole proprietorships are the most common legal form in Austria. Many of these businesses are substantial SMEs with 10–50 employees. |
Revenue stagnation in a stable market | The owner is no longer investing and is mentally prepared to exit | Austria’s SME landscape is stable. Stagnation in an otherwise healthy business model is a classic succession signal. |
Industry with a high handover rate (trades, commerce, tourism) | Structural need for succession | WKO data clearly shows which industries are disproportionately affected. |
ProxDeal covers the entire Austrian market: Firmenbuch data, managing director profiles, business model analysis and free-text search for all Austrian companies. This means that instead of searching the Firmenbuch manually, buyers can search directly for “metalworking companies in Upper Austria with 20 to 80 employees” and receive qualified results within minutes. That makes it ideal for investors looking to generate deal flow.
Try ProxDeal: identify succession targets in Austria
Tax considerations for business acquisitions in Austria
The tax structuring of a business acquisition in Austria differs from that in Germany in several key respects. For buyers, the following aspects are decisive:
Aspect | Rules in Austria | Relevance for buyers |
|---|---|---|
Inheritance and gift tax | Abolished in 2008 | Handovers within the family are straightforward from a tax perspective. Not directly relevant to external buyers, but relevant to negotiations: the seller is under less tax pressure, which can extend the timeline. |
Goodwill amortisation | Tax-deductible over 15 years | The more of the purchase price is allocated to goodwill (rather than concession value), the more the buyer can amortise. Set this out in the contract. |
Real estate transfer tax (GrESt) | 3.5% of the purchase price where real property is transferred | Relevant for companies with operating property (hotels, manufacturing). Can be substantial. |
Grace period procedure (since 2025) | The tax office confirms in writing that there are no outstanding tax liabilities | Gives the buyer legal certainty. Should be applied for in every transaction. |
Equity investment allowance (planned) | Up to €100,000 deductible over 5 years | Encourages private individuals to invest in acquisitions. Particularly relevant for MBI candidates and ETA searchers. |
Succession under trade law | The trade licence must be applied for again (or the right of continued operation exercised within 6 months) | In Austria, compulsory chamber membership (WKO membership) applies automatically. The trade licence is tied to the business, not to the person. |
Important: The allocation of the purchase price for tax purposes between goodwill, fixed assets and concession value should be clearly set out in the purchase agreement. If this is not done, the tax office decides – usually to the buyer’s disadvantage.
Succession in Austria: why now is the right time
In 2026, three factors are coming together that make the Austrian succession market particularly attractive to buyers:
The demographic wave is reaching its peak. The largest baby boomer cohorts reach retirement age between 2025 and 2030. The supply of companies ready for handover has never been higher, and it will not be this concentrated again.
NextGen4Austria lowers the barrier to entry. For the first time, there is a nationwide support programme that offers successors free coaching, consultancy grants and networking. For MBI candidates and first-time acquirers, this is a considerable help.
The interest rate turnaround makes financing easier. After the rate rises of 2022 and 2023, financing costs are normalising. Bank loans for business acquisitions are cheaper again, and the promotional bank Austria Wirtschaftsservice (aws) offers dedicated programmes for succession financing.
Conclusion: Austria’s succession market is the most underrated buyer’s market in DACH
52,500 handovers in ten years, a falling rate of succession within the family, new support programmes and tax incentives: Austria’s succession market offers buyers a structural opportunity that, in this combination, exists in neither Germany nor Switzerland. If you work this segment systematically – whether as a PE fund with a platform strategy, as an MBI candidate or as a strategic buyer – you will find transactions outside the intermediated market, at fair valuations and with high deal certainty.
ProxDeal is the most precise origination tool for the entire DACH region, Austria included: Firmenbuch data, managing director profiles, shareholder structures and business model analysis via free-text search. No WZ or ÖNACE codes (the German and Austrian industry classifications) – simply describe what you are looking for.
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FAQ: Business succession in Austria
How many companies in Austria are facing succession?
According to the BMWET and WKO, around 52,500 companies (excluding one-person businesses) are due for handover between 2025 and 2034. That is 23% of all employer companies, affecting around 705,000 jobs.
What is the success rate of business takeovers in Austria?
WKO data paints a positive picture: 61% of successors increased revenue, almost two thirds invested more than their predecessors and 36% hired additional staff. In 2024, 7,792 companies were successfully handed over, an increase of 4.9% on 2023.
Is there inheritance tax on business handovers in Austria?
No. Austria abolished inheritance and gift tax in 2008. Handovers within the family are therefore less complicated from a tax perspective than in Germany. No inheritance tax is payable when a company is sold to an external buyer, but the standard income tax rules apply to the sale proceeds.
What is NextGen4Austria?
NextGen4Austria is a support programme for first-time acquirers of SMEs, launched by the BMWET and WKO in February 2026. It includes free coaching (business fundamentals, financing models, negotiation skills), networking with entrepreneurs ready to hand over their business, consultancy grants for external experts and regional workshops in all federal states. Applications are made through the regional WKO chambers.
Which industries in Austria are most affected by the succession wave?
Trades and crafts account for around 36% of all handovers, followed by commerce (around 20%). In the services sector, almost one in five businesses faces a handover within the next two years. In Tyrol and Vorarlberg, hotels and restaurants dominate; in Upper Austria, it is manufacturing.
How do I find Austrian companies that need a successor?
The WKO succession exchange is the official point of contact, but it only shows companies with an active listing. To identify succession targets proactively, ProxDeal gives you access to all Austrian company profiles, with Firmenbuch data, managing director age, shareholder structure and business model analysis via free-text search.
Can a German buyer acquire an Austrian company?
Yes, without difficulty. There are no restrictions for EU citizens. However, the trade licence must be applied for again in Austria (or a right of continued operation must be exercised within six months of the takeover). From a tax perspective, a cross-border acquisition is more complex (double taxation agreements, permanent establishment issues) and requires specialist advice.
What is the average purchase price for a business acquisition in Austria?
Purchase prices vary considerably by industry and company size. Among SMEs (10–50 employees), valuations of between 3x and 6x EBIT are common. For companies with a real estate component (hotels, manufacturing businesses), the transaction value can be significantly higher. Financing is typically provided through a mix of equity, bank loans and vendor loans.
Which federal state has the greatest need for succession?
Upper Austria has the highest absolute need for succession in Austria. As the country’s number one industrial state, with the highest density of manufacturing SMEs, it had 338 businesses facing handover in the first half of 2025 alone. Styria (automotive suppliers, timber industry) and Lower Austria (diversified Mittelstand) follow. In the tourism segment, Tyrol and Salzburg lead the way.
Is it worth taking over a company in Vienna as a successor?
Vienna has different dynamics from the other, more rural federal states: more start-ups than handovers, with a focus on services, IT and consulting. Succession targets in Vienna are typically knowledge-intensive service providers, agencies and specialist retailers. For buyers looking for consulting or IT companies, Vienna is the most relevant location. For industrial SMEs, Upper Austria, Styria and Vorarlberg are more fruitful.
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