Buying a business during the COVID-19 pandemic
It is no secret that over the first quarter of this year, the South African economy has seen close to rock bottom, albeit with few rays of sunshine here and there – namely the decrease in our fuel price as well as our interest rates decreasing. How long this will last? I suppose that’s anyone’s guess at this stage due to our economy being reduced to Junk Status.
During these trying times it is forgivable to think that things may never recover and the world as you knew it is over and never coming back. I am here to say you’re wrong! With great hardship comes great opportunity. We will be back and better than ever.
What to look at when buying a business during the COVID-19 pandemic
It is crucial to focus on one major factor when looking at a business to buy – one must identify those that were doing well right up to the time of the recent downturn (if any) and those that can, with all things being brought back to normality, do well after this situation has passed. (more…)