-
- © 1997 - 2009 Dynamis Plc
Written by Roberta Murray
Credit crunch means the time to buy a business is now - new report.
Despite the credit crunch and a faltering economy, entrepreneurs are still finding the finance to buy businesses and are taking advantage of competitive prices.
This was announced today by businessforsale.com - which surveyed 1000 currently active business buyers.
The results of the survey reveal that:
48% of respondents saw the current economic conditions as an advantage when buying a business.
66% found banks to be accommodating to their needs, although 33% found their search for funding to be more difficult than expected.
28% viewed buying a business as a safer investment than equities or residential property.
36% of respondents believed that businesses for sale were more competitively priced as a result of the downturn.
60% of business buyers saw business ownership as a way of taking control of their life in difficult times.
"Interest rates are still historically low and asking prices can be lower as sellers look for an exit. It's a good time to buy your way into business ownership," says BusinessesForSale.com director Tony de Vizio.
"Lenders still need to lend and look favourably on those looking to buy a business with cash flow in place," he adds.
According to Dean Edwards, Chairman of the recently formed British Business Brokers Association it's a win-win situation for all. "There will always be reasons for selling a business - regardless of the economy - people retire or they want a change," he says.
"For buyers there is the real prospect of buying a good business at a competitive price and seeing the value of that business dramatically increase when the economy turns around," he adds.
Copyright 2008 Atalink Ltd.
Click here to return to the Press archive.
If you haven't been brought to the right country version of our site please select the correct one below: