What to Consider When Starting or Buying a Business
Summary
Starting or buying a business involves thorough preparation and critical questions. The article emphasizes the importance of due diligence, which includes evaluating financials, understanding market competition, and ensuring supply chain reliability. Prospective buyers should consider SBA loan qualifications, the impact of existing and new competitors, and the necessity of reviewing comprehensive financial reports. Business buyers are advised to seek multiple expert opinions and remain vigilant against overly cautious naysayers. Additionally, buyers should be wary of "instant-experts" on social media and opt for professional advice and training sessions to navigate the complexities of business acquisitions.
Kiplinger
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