Buying a small business
If you are looking to buy an existing business, there are many things which you need to consider before investing considerable time and money in the venture. Not all businesses are a success and you need to ensure that the business you wish to purchase will be a good investment.
Why purchase an existing business?
The benefits of purchasing an existing business, as opposed to setting up a new business, are that it may benefit from some or all of the following:
- strong cash flow;
- existing customer base;
- existing supplier base;
- trained and motivated employees; and
- a presence in the local market.
In addition, banks are more likely to finance an existing business, rather than a new business.
Guide to Buying a Small Business
We have produced a helpful guide called 'Buying a Small Business' in which we point out the key considerations that you need to take into account if you are considering buying a small business.
You can download a copy of this guide here.
If you would like any further information relating to our Small Business Unit, please do not hesitate to contact Louise Thompson.
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