Is Now the Perfect Time to Buy a Business?

April 7, 2021

It seems like many Entrepreneurs are taking the leap and buying a business.  According to a recent article in Inc. now may be the right time to do just that.  Here are the 3 reasons the article addresses on why now is the time to look at buying a business:

  1. Baby Boomers are looking to retire – according to research from Pew Research Center, retirement has accelerated drastically in the past year. About 28.6 million Baby Boomers retired in the third quarter of 2020. That's 3.2 million more than the 25.4 million Boomers who retired in the same quarter of 2019.  Due to the Covid-19 pandemic stretching business and more Boomers looking to sell, there's a higher chance of getting a good deal on what is out there.
  2. Financial help is available – the Small Business Administration was authorized to make changes to its 7 (a) and 504 loan programs, which make it easier to acquire a business.  The Small Business Administration is not charging an upfront guarantee fee for loans.
  3. Get in before the boom - take advantage of the influx of newly vaccinated people looking to dine, shop, and travel.  People want to get out take advantage of that.

Many people have lost their jobs due to the pandemic and are looking to get back into workforce. If you have the some of the qualities of an entrepreneur such as motivation, strong work ethic, creativity, persuasiveness, and vision as well as always aspired to own a business of your own now may be the right time to take the chance.  You will never know if you don't try.  If you would like some advice or guidance in this area MCA Consulting can help.  We would love to talk to you about making one of your dreams come true.

Margherita C. Amplo
President/CEO
MCA Consulting Services, LLC.
margherita@mcacs.us
610-570-9986

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