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Banks, Business, Economy, Property

Is it a good idea to buy a business during an economic downturn?

Short answer: Yes.

Many small and big brands worldwide have started and flourished during economic downturns. As an example, “essential” business such as grocery stores, utility companies and service providers have proven to be relevant and are currently thriving – They are pulling hefty funds, especially business that made smart adaptations to social distancing measures.

Adaptation has been vital as newer services such as Click+Collect, delivery, and online communication channels have become part of the new normal. Think about whether the business you are looking has made these sorts of changes, or if it is capable of making them if it has not done so.

There are opportunities out there, it’s just a matter of finding the right one. Bear in mind that as some businesses sadly fail in the current climate, it does create some opportunity. ASC has been supporting small business for more than 50 years and we’d be happy to help.

If you would like further information, contact your local ASC office. We help ambitious and hardworking business owners throughout the UK to obtain finance.

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