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21st May 2008
Credit crunch 'has not stopped owners selling their businesses'
An article written for the Cambridgeshire Chamber of Commerce has suggested that the credit crunch has not prevented business owners from selling their enterprise if they wish to.
Writing on the site, Derick Humphrey of the Business Partnership explained that business transfer sales have not been affected by the tightening financial situation in the country.
He said: "The reason for this is that traditionally potential business buyers have either cash available, or a good deal in cash as a deposit making them less of a risk for banks."
Mr Humphrey added that people opted to sell their businesses for a wide variety of reasons, including retirement, forced sales or even just to "reap the rewards of their hard work".
Whatever the reason, he suggested that small firms should use a professional company to manage the process and provide an accurate valuation of the business.
Recently, Lloyds TSB suggested that many small businesses in the UK were not convinced about the economic future of the country.
(c) 2008 Adfero Ltd.
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