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Start or Buy a Business

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If you are thinking about starting your own business, you might be presented with a number of potential opportunities and options. Not least of which is the form your business should take. You might even be in a fortunate position of being able to take over someone else’s business. People often look to retire or move on, they might simply be looking to sell their premises or perhaps they’re thinking about selling the business as a whole. The question is would you be better off buying an existing business or starting your own limited company? There are merits to both choices.
 
There’s a lot you should know about how to start a company or purchase a business for sale. Get the details about everything you need to consider from financing, business planning and marketing to franchise opportunities from Global Finance & Capital Ltd services.
 
So instead of starting from scratch, look for a seasoned small business with three to five years of verifiable financial records and tax returns that coincide with the data on the financial statements. Businesses like these, with a record of growth, trained employees, a good customer base, proper equipment, and an established inventory, are excellent business opportunities. In fact, the failure rates of businesses that have been around for at least five years is quite
 
Advantages of Taking Over a Trading Business
 
Taking over an existing business might be an option for you, but what are the advantages and disadvantages? There are a number of potential advantages to buying an existing business rather than starting your own from scratch:
•Security – The obvious advantage of buying a business that is already trading is the security. Taking over an existing business is far less risky than starting entirely from scratch.
•Track Record – An established business is likely to have: • A good customer base,
• A healthy credit rating
•Good accounts,
•Existing relationships with suppliers; and
•Some sort of establishment within the community.
 
•Employee Experience – An existing and trading business is likely to have experienced employees available to help run your company. They will be able to teach you what you don’t already know about your new undertaking.
•Existing Cash Flow – Unlike starting your own business, buying an existing business means you can rely on cash flow right from the start. There will be fewer struggles trying to reach break-even point and keeping your business afloat.
 Of course you will need to do thorough research to ensure that this is the case. Last thing you want to do is buy a business with a bad reputation which you can’t turn around or purchase a business with serious debt problems.
 
 It’s best to thoroughly weigh up your options before you get stuck into business. Here at The Global Finance & Capital Ltd services, we’re determined to make things easier for you, which is why we’re offering FREE Company Formation to everyone looking to start a new company of their own.