How to Buy a Business With Little or No Money Down
Many smart entrepreneurs prefer to buy an existing business instead of beginning a new one. Buying a business that is already operational will bring many benefits, including an already established product or service, well trained staff who know the business and enough success to have kept the company afloat for a period of time. Not having any money to purchase the business will not necessarily keep you from buying it. Banks have been tightening their commercial lending standards in the last few years, but you can still find the funding necessary to purchase a business without using your own money.
One of the main reasons companies resort to outsourcing is it can significantly reduce costs. In the case of overseas outsourcing of manufacturing tasks, costs can be cut dramatically because there are lower wages and costs associated with managing and maintaining the manufacturing plants.
If you were born with that “entrepreneurial spark” in your eye, then no economist or banker is going to keep you from starting a business. While many analysts may say that it’s not a good time to become a business owner, others have found that buying a business with no money is suddenly a possibility.
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