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Difference between revisions of "Starting a Small Business"
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Starting a Small Business (view source)
Revision as of 21:47, 13 December 2017
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The advantages of buying a business include loyal customers, trained employees, reliable suppliers, and fully equipped premises. Sometimes the seller will stay on for a while until you learn the business. | The advantages of buying a business include loyal customers, trained employees, reliable suppliers, and fully equipped premises. Sometimes the seller will stay on for a while until you learn the business. | ||
But you pay for these benefits—buying a business usually costs more. Be careful that you get what you have been promised and are paying for, without | But you pay for these benefits—buying a business usually costs more. Be careful that you get what you have been promised and are paying for, without any hidden liabilities. Investigate the business and its assets. Start early because this verification process takes time. | ||
You might want the seller to sign an agreement promising not to compete with you, recruit your key employees, or use confidential information about your business. | You might want the seller to sign an agreement promising not to compete with you, recruit your key employees, or use confidential information about your business. | ||