PRESS RELEASE
September 2008---BEGINS---
The Time to Buy a Business is Now
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:
- 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.
IAccording 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.
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---NOTES TO EDITORS---
- http://www.BusinessesForSale.com is the world’s largest site for buying and selling businesses with over 60,000 businesses for sale in 150 countries.
- The site works with more than 300 UK Business Brokers who advertise businesses for sale through the site.
- The British Business Brokers Association was formed earlier this year to represent the interests of its members. See http://www.ukbba.org