- 23rd January 2010
- Posted by: clivebarrett
- Category: The Leader Board
THE January sales have taken on a whole new meaning for entrepreneurs. They are taking a gamble and buying businesses that are up for sale as the recession continues to bite.
Those with money available have been snapping up bargains in the rush to buy cheaply from specialist brokers. Statistics show there is a significant rise in those distressed companies selling up. So, visionaries in a position to do so are taking the opportunity to swoop and take on those firms where a cashflow looks achievable in the short term. Strategic buyers, those cherry picking parts of a business, are snapping up equipment too.
There is a warning though. If you are wanting to pick up a failing business make sure you are aware of the risks. Don’t be lumbered with a turkey so soon after the festive season. Those first-timers, or established opportunists, wanting to expand, the opportunity is there for you to take that first step on the economic ladder.
You will be helping the sellers too. Every cloud has a silver lining and those people who have struggled to continue what was once a going concern can at least pass on the reins, with their dignity, and more importantly some cash, to show for their efforts.