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Good time to buy a business
Entrepreneurs are viewing the current economic crisis as an opportunity to snap up undervalued firms, a new survey has revealed.
According to BusinessesForSale.com, an entrepreneur website, almost half of the 1,000 active business buyers questioned said the current conditions were advantageous when bidding on a new business.
Just under two thirds said the banks were accommodating to their needs, dispelling fears that the credit crunch had caused the lower end of the mergers and acquisitions market to seize up.
Some 28 per cent of respondents said they saw buying a business as a safer investment than equities or residential property.
"Interest rates are still historically low and asking prices can be lower as sellers look for an exit," said Tony de Vizio, BusinessesForSale.com director. "It's a good time to buy your way into business ownership."
Copyright 2008 The Financial Times
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