More than 14 million family enterprises in Europe provide for 50% of GDP and 60 million jobs. In times of crisis, family enterprise play a crucial socio- economic role as an employment buffer and pivot of growth. Despite their role, at present there are no programmes and initiatives tailored to the specific needs of family enterprises whose competitiveness is undermined by specific challenges. As highlighted by the EU Parliament: 1. The EU Commission does not have a family enterprise initiative since 2010 2. There are shortcomings in regulation, definitions, support system and training for family enterprises, exacerbated by high fragmentation among Member States 3. There is a generalised lack of operational tools and training resources for family enterprises, especially those of micro-small size Such challenges and needs are best captured by >(2210(INI)) 30.6.2015, “Family Business in Europe”, European Parliament >"Entrepreneurship Action Plan 2020" EU Commission >“Identification of Future Skills Needs in Micro-Craft-Type Enterprises up to 2020”, EU Commission Such policy reports are corroborated by “industry reports”, like Ernst & Young “Family Business Yearbook” 2016/2017; KPMG “EU Family Business Barometer 2018”. Such official sources provide an alarming picture: family enterprises’ sustainability and competitiveness is undermined by specific challenges and needs: >promote specific training for family enterprises in fields like governance and management models >need to establish a direct link between training and family enterprises so that they can constantly upgrade and upskill their competences to face challenges in areas like management >develop digital entrepreneurship and digital skills for family enterprises >need for tailored training on internationalisation, especialy for family businesses of small and micro sizes VESTA has the objective of supoorting the growth and sustaining the competitiveness of family enterprises so that they can strive and continue to play that crucial role of social buffer and economic engine of growth, by developing innovative operational tools and training resources. PARTICIPANTS of the VESTA project include partners from the VET system (both formal and nonformal), support system and facilitation of entrepreneurship, family enterprises and Third Sector. VESTA brings together 6 partners from 5 countries, and at implementation will engage at least 200 target groups. A set of Associated Partners complement the participants, together with a series of policy and practice stakeholders that will be involved at implementation throughout various activities. ACTIVITIES that partner will carry out include: 1. Develop and maintain the VESTA OER Platform to provide visibility to project activities and promote the adoption and use of the VESTA tools and resources in their multilingual versions 2. Map the ecosystem of family enterprises to extrapolate dynamics of family enterprises to bridge the gap (operational, of definitions and training) identified by EU institutions 3. Develop operational tools in support of family enterprises 4. Develop and deliver innnovative training specifically tailored and targeted to family enterprises 5. Validate in real operational environments the VESTA tools and training involving at least 200 target groups 6. Promote the adoption and replication of VESTA by mainstreaming its use across EU METODOLOGY is operational and practical, based on a “staged methodological approach” along the following phases: Mapping => Development => Delivery & Validation => Full OER Deployment ==> Mainstreaming RESULTS of VESTA are the following: IO1 VESTA OER Platform that is open,free and multilanguage IO2 Mapping of the family enterprise ecosystem and family business dynamics IO3 VESTA Operational Tools, at least 5 products, (Innovative governance models, generational transition, executive functions transfer, etc) IO4 VESTA Training, at least 10 courses with modular approach on specific family enterprise topics and content: governance, internationalisation, digital entrepreneurship, management, strategy IMPACT of VESTA is foreseen at various layers: => Operational: 200 family enterprises will be involved at implementation in the pilot validation of the VESTA tools and training => Systemic: facilitators of family enterprise and the VET system at large across EU can use, adopt, adapt and implement for free the VESTA tools and training => Policy: VESTA provides inputs and informs the “evidence based policy making” mechanism providing and up-to-date and relevant mapping of the family enterprise phenomenon and its dynamics
VESTA's objectives aimed at supporting the competitiveness of FBs by enabling them to play, increasingly and consistently better, that fundamental role of pivot and socio-economic flywheel all through the development of specific and innovative operational tools and training resources capable of addressing the critical issues highlighted and also recognized at the level of EU institutions. VESTA has achieved these objectives by having developed in particular: 7 Self-assessment tools and operative products such as: 1)Self-Assessment Tool; 2)Family Enterprise Checklist; 3)Guidelines for Family Business; 4)Generational changeover, Mapping the tools for succession; 5)Cybersecurity Checklist; 6)Emergency Checklist; 7)VESTA Knowledge Bank 12 Innovative and specific training resources on 4 topics identified through IO2 as the most crucial in the development, establishment and success of FBs: 1) Management in Family Enterprises; 2) Governance in Family Enterprises; 3) Digital Entrepreneurship and Digitalisation; 4) Internationalization.
In Europe, the socio-economic relevance of Family Businesses (FBs) is unique. There are currently no programmatic, policy, operational or training initiatives for FBs in the EU, which are subject to a number of specific challenges. Studies dedicated to FBs have indicated highly critical peculiar elements that would prevent 30% of FBs from surviving to the third generation: 1) Generational transition: is a critical time for FBs and only 26% have a formal succession plan for management positions; 2) Lack of a formalized strategic plan was highlighted; 3) Digital skills: insufficient preparation of the management class; Some very specific needs clearly emerge, addressed by the VESTA project: > promoting specific training for family businesses on business transfers and governance structures (item 1) > need for FBs to have a direct link to training activities that will enable them to keep up-to-date with the most advanced practices at the level of good business management (point 2) > developing digital entrepreneurship and digital skills so that FBs can take full advantage of the use of digital technologies (item 3).