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Thursday, January 5, 2012

INVESTING IN THE NEW YEAR: HELP MAY BE JUST AROUND THE CORNER

INVESTING IN THE NEW YEAR: HELP MAY BE JUST AROUND THE CORNER

When ringing in the New Year, purchasing a franchise or business during shaky economic times is either dangerous or extremely wise. The U.S. senate recently passed a bill that allows the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) groups to maintain jobs and support businesses. This extension provides benefits to small businesses for another six years. So what is the upside? Those entrepreneurs who are job creators, healthy risk takers, and inventive with new products are eligible for a percentage of funds from the government. This has the potential to boost business, and as one senator commented,

“Because of this deal, businesses will have peace of mind for the next six years. The nation’s innovators will have more access to federal research dollars, and the process by which they get the funding will be more efficient because we cut down the time for final decisions and disbursements.”[1]

This is good news for anyone looking to buy or sell a business. If buying, there is the option of federal support. If selling, the business could go into the hands of someone with a more innovative agenda, and the seller may end up with a better deal than originally anticipated. The SBA (Small Business Administration) includes an article[2] on steps to take when approaching any new business venture. One step is finding an experienced mentor to provide feedback, critiques, and the reality of what owning a business is really like.

Brokers can serve as mentors during the process of buying or selling a business. This means that even before a deal is made, they know how to assist in getting the proper financial aid and other appropriate advice. Brokers can easily be found online at such locations as www.sellabiz.biz or www.for-sale-businesses.com

[1] Source: Taken from the U.S. Senate Committee’s site on Small Businesses and Entrepreneurship: http://www.sbc.senate.gov/public/index.cfm?p=PressReleases&ContentRecord_id=4ae5e3cc-5dc1-486f-92ef-c55b0ad479d8&ContentType_id=4bfd610b-f7c6-4d07-9c74-7aab32dd9838&Group_id=0a5867cf-c34c-421f-969b-ea2a5b192a22

[2] Source: http://community.sba.gov/community/blogs/community-blogs/small-business-matters/5-tips-finding-and-working-with-business-mentor