During the covid-19 pandemic there are some buyers out there who would have you believe your business isn’t worth as much as it used to be and you should sell it at a low price. These buyers are simply ‘bargain hunters’, looking for an opportunity to buy businesses on the cheap and reap the rewards, however, do not be fooled…
While there is no disputing that the coronavirus has had a significant impact on some unfortunate sectors the business sale market remains buoyant in the SME sector. The reality is that genuine and strategic buyers will not always use market conditions as a price lever, many will take a longer term view of the opportunity and look to build in some protection into the deal rather than just chop away at the price.
Although a quick deal offer might sound tempting if your business is struggling, remember it pays dividends to be patient, keep the business running, adapt and wait for the right buyer – if this is possible. Many business owners have previously navigated through various recessions and unpredictable events, for example the financial crisis of 2008. Entrepreneurs are survivors, they quickly adapt and can react to negative situations. It is important to understand there are always good and bad times in business, regardless of the market there are always serious buyers out there if you care to look and invest the time to find them.
You have probably spent many years building your business, think carefully and plan your sale and exit. Talk to a professional business sale expert about the current market and how they might be able to introduce you to a serious and professional business buyer.
At Vexus we have access to a large database of strategic buyers looking for a variety of businesses, contact one of our team of business sale experts today and find out how much your business is worth.