Despite the credit crunch and a faltering economy, entrepreneurs are still finding the finance to buy businesses and are taking advantage of competitive prices. .
A survey by entrepreneur website http://www.BusinessesForSale.com of 1,000 currently active business buyers found that:
“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 Houston Chronicle
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