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Is it Possible to Sell your Business During a Recession?

Feb 17

Written by: Patricia Moore
2/17/2010 3:18 PM 

1.- Recuperate your Enthusiasm by: a) Learning how to make innovative changes to your products or services that might attract new customers. b) Learning where in the world you can find new customers for your products. You may contract an expert or approach Government Centers-like the International Trade Center SBDC-that offer e-learning opportunities at a very low cost.

2.- Find what is really going on in your industry. You may find that your business belongs to one of those “top recession proof businesses”. There are people out there thinking that times of economic slowdown or a recession can be one of the best periods for starting their own business.
 
If you choose option 1) Do not hesitate to contact the International Trade Center or another SBDC. We will be of great help. If you chose option 2) Plan your resale strategy. Have a good reason for your potential clients on why you are selling out. Prepare your business to get the best price possible; target your marketing campaign for your ideal client; and keep it confidential. Discretion is a must if you want to get a fair price for your business!
 

 

 

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