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Ade Asefeso MCIPS MBA Published His New Book How to Buy a Business With Little or No Money Down
More and More Entrepreneurs Are Buying a Business with No Money.
That's the question that Ade Asefeso answers in his new book " How to Buy a Business With Little or No Money Down"
Ade said. "If you were born with that entrepreneurial spark in your eye, then no economist or banker is going to keep you from starting a business. While many analysts may say that it's not a good time to become a business owner, others have found that buying a business with no money is suddenly a possibility. You may be wondering how that's even possible at a time when credit is so hard to come by, but several books have been written about exactly this topic. Some say it is much easier to get this money when you are buying an existing business than starting a new one; in fact many people have been buying business with no money. This may seem impossible, especially with banks tightening their guidelines for granting business loans, but there are plenty of ways to work around that."
Ade continued by saying. "No matter how experienced you are with structuring a business deal, there is always something new to be learned. Entrepreneurs who have been forced to go without the help of a traditional lender have learned a lot about buying a business with no money, or only a little money down. Gone are the days when the bank down the street will welcome a newly minted MBA with open arms and an open mind. Unless you are prepared to collateralize the loan with personal liquid assets, they are not going to grant a loan, and even if they did the terms they offer are not as business-friendly as they sound."
We ask Ade about Seller-Assisted Financing and he responded by saying "More so than ever, the vast majority of business acquisitions involve some degree of seller financing. In fact, with small businesses it is estimated that more than 80 percent will get some form of financial aid from the current owner, often adding up to 50 percent of the purchase price.
By providing financing, the seller validates the potential and viability of the business, making it appear less risky to the buyer. By funding a portion of the acquisition, owners often get a higher selling price because the buyer recognizes that the seller is also taking a risk with the transaction.
Buyers feel more comfortable with this arrangement because it serves as reinforcement that the seller's claims about the business were true."
Ade concluded by saying "Financing a business is not always as simple as going to a bank. Government loans, suppliers, investor financing and joint ventures are some other ways to find the money. You can choose one of these methods or use a combination of several different ones as needed. Most of them are relatively quick to turn around, and much easier to obtain than one might expect.
The best way to search for a business is to look online at a Business for Sale by Owner directory or consult with an experienced business broker. With the right combination of seller-assisted financing, bank loans, government loans and venture capital, you can always find the money for a bright idea. It won't necessarily be fully financed by a bank, but buying a business with no money down is a real possibility."
About The Author: Ade Asefeso MCIPS MBA
Ade has packed a lot into his career over the years with a long spell working at senior level within various manufacturing companies in the UK. He can be described as international diplomat due to his work across the globe.
Ade spent a lot of his time representing various companies either at supply chain level, operational level, sales and marketing level, and senior executive level across Asia, North America, Africa, Eastern and Western Europe.
Ade is currently the CEO of AA Global Sourcing Ltd. A company that helps local businesses outsource so that they can enjoy the benefits that used to be enjoyed by big corporations for years.
All this still doesn’t make mention of Ade’s increasingly successful career as an author, of numerous books on Finance, Business Ideas, Personal Development, Retirement, Buying Businesses In or Out of Bankruptcy, Self help, Lean Sustainable Supply Chain Management, CEO Guide to Doing Business, Outsourcing, Lean IT, Lean Manufacturing, Agile and Lean Office, Lean Office, Six Sigma, Six Sigma Healthcare, Six Sigma marketing, Six Sigma Service, Lean Startup, Lean Procurement, Lean Implementation, 5S for Supervisors, 5S Home, Lean Handbook, Lean marketing, Lean Sales and marketing, Lean Accounting, Lean Management, Lean Healthcare, 5S for Healthcare, 5S Office Management, Lean In Construction, Lean Retailing, Lean Banking, Lean Business, Lean Government, Lean Tools, Lean in Unionized Environment, CEO Tools, TPM Simplified, Green Manufacturing, Sustainable Urban Supply Chain Management, Real estate, Balanced Scorecard, Non Executive Director, Corporate Storytelling, Reshoring, Supply Chain Management, Joint Ventures, Franchise Business, How to Become a Corporate Board Member, How to Buy a Business With Little or No Money Down and Online Marketing.
In his spare time, although it’s amazing to think that he might have some, Ade does keep fit.
Visit http://www.aaglobalsourcing.com for details.