Despite failing economic growth and predictions for lower than average GDP growth in New Zealand, a recent report released by business consultant Grant Thornton illustrated that over two thirds of businesses are optimistic about the future outlook for their performance in 2010. The global survey interviewed more than 7,400 businesses across 36 economies for its annual International Business Report. The results are staggering compared to the same time last year where only 15% of those surveyed in New Zealand were optimistic about the outlook for 2009, compared with 66% for the upcoming year, resulting in New Zealand being rated the seventh most optimistic nation in the world. The turn of confidence is believed to be in part due to many New Zealand businesses, and their owners, scrutinising and streamlining their operations, becoming more cost efficient and effective.
With commerce confidence growing exponentially and key economic indicators showing signs that the worst of the recession is now past, there has never been a better time to peruse the market for a new business venture. Questions must be asked as to whether to start a business from scratch or to purchase an established business. With the high rate of failure of new business ventures, purchasing an established business can be a more secure and profitable method to take. Investing in a proven commerce model or an existing business with an established customer base, cash flow, suppliers and systemised operations can reduce the risks of the new venture, while securing instant income.
The question of where to identify potential opportunities in the market is best answered through the services of an experienced business broker, employed by a reputable real estate company. Business brokers are happy to meet and discuss your specific needs and requirements, assisting you in the process of matching your skills and experience with a trade that will compliment the knowledge base you possess. An excellent place to start is to peruse the website of the company that the business broker is employed by, identifying the various types, locations and price ranges of businesses available for sale in New Zealand. If there is nothing suitable to be found, your business broker will be able to network through their contacts in the industry and source a venture as per your requirements.
When deciding to purchase a business for sale in New Zealand, ensure that you assess the skills and strengths that you bring to the operation, and whether they correlate with the required skills for the successful operation of the business. Determine how much you are willing to risk, the budgetary limits you have, the hours you will work and the potential impacts on your lifestyle, market conditions and future outlook. Ensure that much care is taken with the due diligence process of researching the industry, its background and performance. Business brokers will be able to assist you with this process.
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