• Tue, Mar 31, 2020
  • Thoughts About Buying a Business Amidst the Coronavirus Crisis
  • Deep-thought-1296377_1280
  • The impact of the Coronavirus crisis knows no boundaries, and the impact on business sales has been unprecedented.  Many people were actively working with business brokers to either buy a business or sell their business. Obviously, everything has changed.

    If you are considering buying a business, these times require preparation, patience and very thorough assessment of opportunities. Unfortunately, there will be businesses that may not survive, nor will many jobs survive.

    Now is the time to evaluate your personal situation. If your job has been eliminated - do you search for another job, start your own business or should you buy a business?

    We currently do not know how long this crisis will last or how the economy will respond on the other side. Change is certain, and it may be the opportunity for acquiring a business as financing options and deal structure may be favorable for buyers. Contact us or a licensed business broker to assess your business ownership opportunities. 

    Richard Parker, President of Diomo Corporation and Forbes Contributor, wrote an article that provides some great perspective on assessing the current situation when considering the acquisition of a business.  

    LINK to full article.