Buying a business ‘is a sound consideration’

Posted 27/04/2011

Buying a business has been recommended to people who have already started up their own company and are making a good profit.

A business expert referred to only as B Huber, writing for Active Filings, said this option is really the purchase of an extra career.

“It’s a sound consideration for an entrepreneur,” the source commented, pointing out that all the assets, business name and customer base from the new company will simply be transferred.

However, none of the debts and other liabilities will be inherited.

Although buying a business may require a large sum upfront, B Huber said this is likely to be significantly less than the cost of starting another firm from scratch because the infrastructure and employees are already in place.

This comes after John Timpson, owner of the Timpson’s shoe repair company, told the Telegraph that it may be worth purchasing a company that has gone into administration due to the potential for bargain prices.