Business continuity is often viewed primarily as a technical or financial issue. Is this really the case?
I'd say exactly the opposite. The technical aspects are important, of course, but the first step is almost always personal. An entrepreneur dedicates decades of their life to their company, following its development daily, making decisions, addressing problems, building relationships. But there comes a time when they have to start asking themselves what will happen after them. And that's not an easy question to address.
Often, we know the problem exists, but we keep putting it off. I like to call it "the elephant in the room": it's there, everyone sees it, but no one knows where to start. Our job is to help entrepreneurs transform a seemingly enormous problem into a series of manageable decisions. A well-constructed business continuity can take years, in some cases even ten. This is why it's important to start thinking about it well before you actually intend to leave the company.
So what is the first question an entrepreneur should ask himself?
What do I really want for my company? There's no one-size-fits-all answer. You might want to maximize economic value through a sale, or you might prioritize keeping the business local and safeguarding jobs. You might consider a family succession, a transfer to management or employees, or the entry of an investor or an industrial group.
I remember the case of an entrepreneur who had received dozens of offers. He didn't choose the most economically advantageous one, because it was essential for him that the company continue to produce in Ticino, maintaining its buildings, staff, and ties to the region. This is a very telling example: behind a succession plan, there aren't just numbers, but values, relationships, and a clear vision of the future.
Is this where UBS's unique position as a global bank with strong local roots comes into play?
This is certainly one of our strengths. We can offer entrepreneurs international expertise and relationships, while also maintaining a very close understanding of the Ticino environment and the people who work there.
For each transaction, we effectively build a dedicated team. We involve corporate specialists, wealth planning and wealth management professionals, and, when necessary, expertise in taxation, corporate structure, and acquisition financing. But the team must also include those the entrepreneur already trusts: the trustee who has perhaps been with them for twenty years, the lawyer, and their regular advisors.
It can't be a one-size-fits-all solution. To engage with an entrepreneur with thirty or forty years of experience, you also need a certain level of professional experience. You need to be able to understand their motivations and establish a relationship that allows you to speak with complete frankness.
What are the specific aspects that need to be addressed during this process?
They are numerous and highly interconnected. It's first necessary to determine whether the company's structure is ready for a future transaction or whether preventive measures are necessary: for example, separating real estate from operations, reorganizing certain shareholdings, or managing liquidity differently. Tax considerations, buyer financing, and, of course, the value of the company must be evaluated.
At the same time, there's the whole personal aspect. The capital the entrepreneur will gain from the sale must be integrated into a wealth planning plan capable of supporting them in the new phase of their life. Business, private assets, pensions, and family cannot therefore be considered separate worlds. It is precisely this comprehensive vision that allows us to build solid solutions.
UBS is also dedicating several initiatives to raising awareness among entrepreneurs. Why do you think it's so important to raise awareness on this issue?
Because many entrepreneurs know they'll have to face the problem sooner or later, but they tend to put it off. Work is often a fundamental part of their identity: owning a company means dealing with relationships, responsibilities, and interlocutors every day. Leaving means suddenly imagining a different life.
That's why we organize meetings with deliberately small groups of entrepreneurs, where we can delve deeper into the various issues, explain what UBS can contribute, and, above all, present concrete cases—naturally anonymized. Real-world experiences help us understand how diverse situations can be and how important it is to start early.
In addition to this, there is also a study dedicated to business continuity.
"Yes. UBS, together with the University of St. Gallen, has created a publication divided into five chapters, deliberately designed to be accessible. We didn't want to create a highly technical manual, but rather a tool that would allow entrepreneurs to understand the main stages of a business continuity process, the questions to ask, and the aspects to pay attention to.
It's also a way to begin a reflection. I prefer to talk about "business continuity" rather than simply succession, because the term changes the perspective: it's not just about understanding who comes next, but about asking how to preserve and possibly increase the value built over a lifetime.
What makes this sector particularly interesting from a professional point of view?
"The fact that no two cases are the same. The theory and financial tools may be partly standardized, but as soon as family, personal relationships, children's expectations, the entrepreneur's vision and objectives come into play, a different scenario unfolds each time.
It's one of the aspects of my job that I find most stimulating. There are successions that stop and start several times and take four or five years to find a solution. But when you get there, you truly create value: you protect what an entrepreneur has built, you guarantee the continuity of a business and often even many jobs, and at the same time you allow a person to face a new phase of their life with peace of mind.
UBS also has a privileged vantage point on the Ticino economy. What are the main challenges facing small and medium-sized businesses in the canton today?
In recent years, entrepreneurs have had to contend with extremely challenging conditions. The strong Swiss franc continues to pose a significant obstacle for exporters, and tariffs have severely impacted some sectors. Added to this are fluctuations in interest rates, inflation, and international markets, which constantly alter competitive conditions.
In recent months, however, we have also observed very interesting signs of recovery, particularly in demand from the United States for technology, machinery, components and specialized industrial products.
What continues to impress me most is the ability of Ticino entrepreneurs to react. Being relatively small businesses can become an advantage in these circumstances: it means greater flexibility, quick decision-making, and the ability to seize new opportunities. It's amazing to see how they continually manage to innovate, adapt, and reinvent themselves. And it's probably one of the greatest strengths of our entrepreneurial fabric.
