LINK New Zealand continues to list exciting business opportunities across a wide scope of industries, but what’s most notable is that these listings are generating extensive enquiries. “Buyer enquiries remain consistently high, and we’re seeing huge interest in diverse opportunities, emphasising the very real demand for solid ventures as business ownership grows as a popular path for Kiwis to take,” explains Jennifer.
Entrepreneurs that are considering selling their business can feel confident that now is a fantastic time to sell, and Jennifer encourages owners to take advantage of this flood of buyer interest. “The high level of buyer enquiry LINK is experiencing can often lead to multi-offer situations, giving vendors the best chance of getting a great price for their business.”
Even if owners aren’t interested in selling during this window of opportunity, Jennifer predicts that the high volume of buyer interest will last. But that doesn’t mean business owners should sit and wait! Connecting with a professional business broker months or even years before being ready to sell is a strategic step that should not be overlooked. “Getting a seasoned expert involved in your journey early on will put your business in the best possible position to attract multiple offers when it is time to go to market,” advises Jennifer. Business brokers will also qualify potential buyers to confirm they’re serious about making a change and financially able to purchase.
Jennifer notes that banks are tightening up with lending capital to buyers. A proven strategy to navigating this hurdle is engaging the assistance of a finance broker, rather than relying on the bank to approve financing. “Once again, the key is getting organised and connecting with a specialist well before finding and attempting to purchase a business. This will save you from wasting time & energy, and potentially facing rejection which could derail your goals.”
Prospective & keen buyers should know that strong businesses will continue to come to market, but it’s absolutely paramount to be prepared for the buying process. “Set a budget for what you can afford to repay and then ensure your accounts are as tidy as possible; a finance broker will also be able to assist you with this.”
Like anything worth doing, successfully buying and selling a business takes time, effort, and planning. The most important thing to remember is not to do it alone. A strategy that will always serve you well is to partner with experts who are committed to keeping New Zealand’s business scene active and thriving. By doing so, you’ll be set to turn your business dreams into reality.
