Published on 21/07/2020 by Any Business.Com.Au

Should I Buy a Business During the Covid Crisis?

Is now the time to buy or sell a business? With so many businesses closing their doors or reduced to restricted trading hours during the Covid crisis, it would be easy to simply dismiss the idea of getting involved in this realm at all.

There's no doubt the current retail climate is tough however, where there is cloud there can always be a silver lining.

In fact, with many Australians losing their jobs due to coronavirus, it's highly likely that people are seeing this change in environment as the ideal time to purchase and run their own business.

Figures from national businesses for sale website AnyBusiness.com.au have revealed some stunning increases in website traffic and buyer enquiry over the April to June quarter.

Numbers show that from May to June, a 26% increase in buyer activity was experienced, on the back of a 50% increase from April to May.

Overall website traffic from May to June went up 15% with a preceding increase of 25% from April to May.

So what exactly does this mean?

Agency Principal, Xcllusive Business Brokers, Zoran Sarabaca believes it means it is a sellers market at the moment, with a number of buyers eagerly trying to purchase but little stock currently on the market.

"Our enquiry numbers have received a significant jump also, with May up 15% in comparison to last year," Mr Sarabaca explained.

"A lot of businesses are using this time to try and expand to secure income and a lot of investment companies with plenty of money are looking to buy additional businesses which has resulted in a pretty good market."

Mr Sarabaca said regardless of market conditions, the same rule that has always applied to buying a business still applies now - 'if you find the right business then it's a good time to buy'.

"If it's a good business, you buy no matter what is going on and that is something that has not changed throughout the COVID crisis," Mr Sarabaca added.

At any time, choosing the right business to buy depends on your needs and lifestyle and requires time to research.

An already established businesses can have advantages. For example, a good business history can increase the likelihood of a successful operation and ensure that finance is easier to obtain - in any climate.

Doing your research to ensure you're making the right decision is essential, start here at anybusiness.com.au

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AnyBusiness.com.au

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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