/24-7PressRelease/ - London, UK, September 06, 2008 - 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.
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.
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.com
For more information, please contact Jo Dalton on 0207 324 1940 or email jcd@dynamis.co.uk
About Dynamis
Dynamis plc is an online publisher, repsonsible for BusinessesForSale.com, FranchiseSales.com, RightBusiness.co.nz, BusinessWings.co.uk and BusinessOpportunities.com. The titles are all in the business transfer market and look to inspire and educate entrepreneurs and provide them with a marketplace in which to find and buy business opportunties.
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