Business transfer readiness in rural micro and small enterprises: challenges identified by public business advisors

Purpose This study aims to examine challenges that hinder business transfer (BT) readiness among micro and small enterprises (MSEs) in rural areas, as identified by public business advisors. Design/methodology/approach This qualitative study draws on six semistructured interviews with advisors from five publicly funded advisory organizations supporting enterprises in rural Northern Ostrobothnia, Finland. The data were analyzed using thematic content analysis and interpreted through the framework of dynamic capabilities framework, focusing on sensing, seizing and transforming. Findings The findings reveal three interrelated categories of challenges. Sensing-related challenges concern entrepreneurs’ difficulties in letting go, limited openness about transfer intentions and weak recognition of financial and strategic preparation needs. Seizing-related challenges relate to the practical preparation of the firm, including noncore assets, diversified activities, limited digitalization, weak electronic accounting and owner dependency. Transforming or reconfiguring challenges concern the rural BT ecosystem, including limited buyer availability, buyer–seller mismatch, fragmented information flows and restricted access to specialized advisory and financial expertise. Research limitations/implications The findings are based on a small qualitative sample of advisors and should therefore be interpreted as advisor-mediated observations rather than statistically generalizable evidence. Practical implications Earlier advisory support should strengthen entrepreneurs’ recognition of transfer needs, improve digital and financial preparedness, reduce owner dependency and enhance buyer–seller matching to support rural business continuity. Originality/value The study contributes by applying a dynamic capabilities perspective to advisor-observed BT readiness in rural MSEs.