Do you buy a business or do you sell a business in this economy? Is this the right time to expand? The answer to these questions depends on your age, your financial ability, your determination and the amount of work that you want to do. There are definitely opportunities to buy businesses in this market. Should you buy a business which just went bankrupt? It depends on what there is to buy. A bankrupt company had packaging materials for their liquid products were a problem. The rules changed and there was a large cost to dispose of the material.
In comes Mr. Entrepreneur. He ships the products to another country, has them filled because it is not a banned package in that country, then ships the products to another country and sells the product. What did Mr. Entrepreneur do? Everyone saw that this company had a disposal problem and no one wanted to pay to get rid of what everyone believed was waste. Mr. Entrepreneur saw an opportunity because the rules had changed only in this European country and not in other countries. He say a huge opportunity to make money quickly because he had a vision, he did not look just at the local markets. The world can be your market. He saw that someone else’s failure was a huge opportunity for him.
If a company failed and all you intend to do is carry out what the company did before, what are your chances of success when someone tried and failed at doing thinks a particular way. Learn from the past, look for new opportunities. In this case, a small investment created profits 10x the initial cost. Now the company had sufficient capital to grow significantly.