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Academics Unemployed: Why Business Succession Is the Underrated Fresh Start

335,000 academics will be unemployed in 2025 – a historic high. At the same time, hundreds of thousands of medium-sized companies urgently seek successors. This article explains why business succession is the strategically smartest alternative to traditional job applications for highly qualified job seekers.

11 min reading time

In 2025, the number of unemployed academics in Germany reached a historic high of 335,000 individuals—an increase of 16 percent compared to the previous year, significantly outpacing the overall unemployment rise of 6 percent. At the same time, according to the KfW Succession Monitoring, over 532,000 medium-sized companies are seeking successors by the end of 2028. Statistically, there is only one prospective buyer for every three companies looking for a successor.

These two developments run in parallel but are rarely considered together. The conclusion is obvious: Highly qualified individuals who must—or want to—step out of employment right now face a market that urgently needs them.

The Situation in the Academic Labor Market: Structural, Not Cyclical

Data from the Federal Employment Agency show that the current trend is not a temporary economic downturn. The unemployment rate among academics rose from 2.9 percent (2024) to 3.3 percent (2025)—exceeding the statistical full employment threshold for the first time since 2007. Particularly affected are professional groups previously considered crisis-proof:

Field of WorkUnemployment Rate 2025
Natural Sciences9.6%
Media Design, Advertising, Marketing8.5%
Humanities and Social Sciences6.5%
Computer Science / ITIncreasing
Average for All Academics3.3%

Source: Federal Employment Agency, Online Report Academics 2025

Behind these figures lies a structural shift: The export-oriented machinery and automotive industries are suffering from the transition to electromobility, IT companies are downsizing after years of growth, and digitalization is displacing traditional knowledge jobs faster than new ones are created. The Institute for Employment Research (IAB) reported a 25 percent decline in job vacancies in the first quarter of 2025 compared to the previous year.

For those affected, this means: The traditional application route—resume, interview, employment—is becoming more difficult and will remain so in the medium term. Those who focus solely on the labor market as employees significantly limit their options.

The Mittelstand Faces the Opposite Problem

While academics appear in unemployment statistics, the German Mittelstand struggles with a problem that is existential: a shortage of successors.

The numbers are clear. According to the Institute for Mittelstand Research Bonn, around 186,000 family businesses will be seeking successors by 2030. The preferred solution—the internal family transfer—has dropped to 51 percent of all handovers, down from 57 percent during the COVID years. Fewer children want or are able to take over their parents’ businesses.

The result: In 2024, the DIHK recorded a record 8,276 advisory consultations on business succession—a 22 percent increase over the previous year. Even this number underestimates the problem because many owners wait too long or do not actively pursue succession.

So, who is currently looking for a buyer?

A typical handover company in the German Mittelstand looks like this: Owner around 60 years old, founded or acquired 25 to 35 years ago, solid earnings, loyal customer base, 5 to 50 employees, revenue between 1 and 10 million euros. The company works—it simply lacks someone to continue it.

Why Academics Are Particularly Suitable Successors

Most articles on business succession mention “experienced managers” or “entrepreneurially minded executives.” This almost always refers to people with broad professional experience and a proven track record in business management.

This profile matches many unemployed academics—especially those who, after years in industry, corporations, or the Mittelstand, are now seeking new opportunities. What they bring to the table:

Analytical Thinking Skills. A degree—whether in business administration, engineering, natural sciences, or computer science—trains the ability to structure complex problems. This competence is often scarce in owner-managed SMEs, which have historically been run pragmatically and based on experience.

Technical Expertise That Creates Added Value. An engineer taking over a mechanical engineering company understands the products. An IT academic buying a software service provider can immediately assess technical debt. This fit is important to sellers—they want to know their life’s work is in capable hands.

Network and Access to Capital. Years in the profession mean contacts: banks, tax advisors, potential customers. This simplifies financing and the start.

Orientation Phase as an Advantage. The Federal Employment Agency shows that 59 percent of unemployed academics have been unemployed for less than six months. Many are currently in an active reflection phase—with time, energy, and the courage to rethink things.

What Is a Management Buy-in—and Is It Right for Me?

The term sounds like corporate finance and large transactions. In fact, it simply describes the purchase of an existing company by an external person who then takes over operational management. In technical jargon: Management Buy-in (MBI).

The MBI differs from the Management Buy-out (MBO), where the existing internal management buys the company, and from a strategic investor, who acquires a company as a portfolio addition. In an MBI, someone from outside comes in—with their own capital, drive, and the intention to lead the company as the new owner.

In the German Mittelstand, the MBI by an external private individual is the most common model for external succession. And it is more accessible to academics than many assume—it does not require private equity experience but primarily three things:

  1. Equity or access to financing (more on this below)
  2. Industry or management experience that builds trust with the seller
  3. Willingness to take operational responsibility—to truly lead, not just invest

We explain the detailed process of an MBI in our guide: Management Buy-in: The 5 Steps to Your Own Company.

Startup vs. Acquisition: A Pragmatic Comparison

For many academics, the obvious alternative to employment is self-employment—often thought of as freelancing, consulting, or founding a new business. But here too, a closer look is worthwhile.

CriterionStartupBusiness Acquisition
Revenue from Day 1No—typically 12–24 months to break-evenYes—ongoing cash flows from day one
Customer BaseTo be builtExisting
EmployeesTo be hiredAlready trained
FinancingDifficult without track recordEasier—the company serves as collateral
Market RiskHigh—model unprovenLow—model already works
Time Until IncomeHighModerate

The decisive point: An existing company has already positively answered the critical questions—“Does the market pay for this?” “Do customers return?” The risk focuses on the handover and the leadership quality of the new owner. Both are manageable.

A detailed comparison of both paths is available in our article: Business Succession Instead of Startup: The Smart Path to Self-Employment.

Financing: How Much Equity Do I Really Need?

The most common concern is: “I don’t have capital for a business acquisition.” This is not universally true.

Several components come together in financing a business acquisition:

Equity (EK). A rule of thumb is an equity share of 20 to 30 percent of the purchase price. For a company priced at 500,000 euros, that would be 100,000 to 150,000 euros. This is realistic for many academics with several years of professional experience—especially after receiving a severance package.

KfW ERP Startup Loan. The KfW explicitly supports business acquisitions with favorable loans (currently from about 4 percent p.a.) and an 80 percent liability release for the house bank. This significantly lowers the hurdle for banks.

Seller Financing. Many sellers are willing to leave part of the purchase price as a subordinated loan—especially if they want to ensure the business is in good hands. This reduces immediate capital needs and demonstrates mutual trust.

Guarantee Banks. The state guarantee banks of the federal states provide bank guarantees for business buyers without sufficient collateral. This instrument is specifically designed for successions.

Conclusion: Academics who have received severance pay or saved for years are often better positioned for a business acquisition than a startup—because the existing company serves as loan collateral.

Which Industries Fit Which Academic Profiles?

A common misconception: You can only take over companies in your own industry. This is false. What matters is whether the buyer inspires trust in the seller and can handle the leadership role.

Nevertheless, there are obvious matches:

Engineers and Natural Scientists—the group most affected by unemployment (Natural Sciences 9.6%)—are predestined for manufacturing companies, technical service providers, machine tool suppliers, or environmental technology firms.

IT Academics are particularly suited for the growing market of software companies, IT service providers, and digitized craft businesses seeking a technically skilled successor. We have a dedicated guide: Buying IT Companies.

Business and Economics Graduates can operate across industries, as their strength lies in business management. Service companies, trading firms, and consulting-related SMEs are suitable.

Humanities and Social Scientists often underestimate their suitability. Communication, personnel management, and strategic thinking are often bottlenecks in owner-managed SMEs—exactly where their strengths lie.

More on specific industry matches by academic discipline will be published soon in the article: From Degree to Entrepreneur: Which Academic Profiles Are Suitable for Succession on Viaductus.

The Supply and Demand Ratio: A Structural Buyer’s Market

An often overlooked advantage for potential buyers: The market is on their side.

For about 100,000 companies seeking successors annually, there are only around 45,000 interested buyers—in some regions like Baden-Württemberg, the ratio is 5:1. This means sellers are willing to negotiate—on purchase prices, handover conditions, and training periods. Those who approach discussions with a solid profile and serious financing meet counterparts who need a solution.

This market situation is not permanent. Demographically, the wave of successions will subside by the mid-2030s—those searching now may find better conditions than in five years.

First Step: How to Proceed?

Entering a business acquisition is not a sprint. Experience shows it takes six to 18 months from initial exploration to closing. But this is not a reason to hesitate—it is a reason to start early.

A sensible first step is consulting an M&A advisor or using platforms that structurally connect buyers and sellers. On Viaductus, seekers can actively post purchase requests and are matched with suitable offers from over 70 aggregated sources—without having to sift through listings for months.

At the same time, an early conversation with your house bank and a tax advisor to understand the financing structure is worthwhile. The KfW also offers free initial consultations for prospective buyers.

Conclusion: Two Crises, One Solution

335,000 unemployed academics. 532,000 companies seeking successors. Both figures indicate a structural imbalance—but also a structural opportunity.

Business acquisition is not a consolation for job seekers who find nothing else. For many academics, it is the strategically smarter alternative: with immediate cash flows, lower startup risks than a new business, and a market that currently needs buyers like never before.

What it takes is the courage to change perspective—from employee seeking work to entrepreneur seeing opportunity.

Further Articles on Viaductus

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About the author

Christopher Heckel profile picture

Christopher Heckel

Co-Founder & CTO

Christopher has led the digital transformation of financial solutions for SMEs as CTO of SME financier Creditshelf. viaductus was founded with the goal of helping people achieve their financial goals with technology for corporate acquisitions and sales.

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