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In Focus 19 Nov 2020 SELLING YOUR BUSINES ...

SELLING YOUR BUSINESS DURING THE PANDEMIC

SPOTLIGHT
Published Nov 19, 2020, 6:10 pm IST
Updated Nov 19, 2020, 6:25 pm IST
If you are a business owner and looking to market your business, selling your business online can take up a lot of your time and money
Whatever the reason may be, it is crucial to find the best suitable deal for your business
 Whatever the reason may be, it is crucial to find the best suitable deal for your business

The pandemic (Covid-19) has wrecked millions of homes and businesses. And it is still not over. In such a short span, it has managed to affect all business sectors be it SME’s or big businesses with huge turnovers. The uncertainties of these times are leading further towards the global economic crisis. Consumer behaviours have changed and businesses are adjusting to these new changes. Consumer demands have shifted drastically. Peopled have reduced their expenses by 40 per cent in comparison to last year. Even though the world is now slowly adapting to the new normal, people are still concerned about their expenses. Covid-19 has brought in one of the worst recessions that the world has ever faced.

Many of the businesses have been put on hold. It is being predicted that many small businesses will not make it to the end of the tunnel because revenues are dropping every day. According to Yelp, 60% of business closures in the pandemic are now permanent. In August around 31,163,735 businesses stipulated that they have closed. Businesses which are resilient and can revamp are the ones that will survive and thrive post-covid-19. Times Network and Institute for Competitiveness conducted an in-depth business perception survey which shows how the pandemic has affected the business operations. According to the findings of this survey, approximately 71.31 per cent of businesses suffered from reduced cash flows.

 

How to sell a business online

If you are a business owner and looking to market your business, selling your business online can take up a lot of your time and money. However, it is a crucial step for any business. It can be your time to retire, or you think that your business needs a stronger foundation, fear of competition or a health situation affecting your ability to work, there can be several reasons why you need to sell your business. Whatever the reason may be, it is crucial to find the best suitable deal for your business. With the ongoing pandemic situation, this process can get a little more overwhelming. Many businesses are looking out to selling their businesses. Before selling your businesses, business owners need to consider the financial analysis, market conditions, fees for lawyers, accountants and many more other factors. It can get a bit tricky for those who are not aware of online investment banking platforms. SMERGERS is a pioneer when It comes to buying or selling businesses online. It focuses on quality interactions between businesses, investors, acquirers, lenders ad advisors online in a safe and secure environment.

 

Understanding the selling process on SMERGERS

·   Get started by registering your business online on SMERGERS. Visit SMERGERS website and create a business owner profile. You can also quickly sign up using your social profiles. Here you are required to describe your business with the best use of words. Your description needs to be clear, concise and compelling. You are also asked to elaborate on the reason why you need to sell your business. Don’t scrunch your forehead, your information is safe and secure with SMERGERS.

 

·   Select the kind of service level you need from SMERGERS. Once all details are filled in, SMERGERS reviews your business details and activates your profile. Then you are given a list of recommended buyers for your business. SMERGERS automatically evaluates your business from thousands of comparable businesses both private and public.

·   You can now start interacting with buyers and send them proposals. You will also get notified whenever interested acquirers want to connect with you. And for your safety, you can also ask them to sign an NDA.  This process is fast and easy.

 

·   Make sure you share a professionally written information memorandum and financial projection with the investors. This helps the buyer to understand your proposal and respond quickly.

·   Once an agreement has been made, the buyer will conduct due diligence to cross-check all information that has been shared earlier. This is to make sure that there are no discrepancies. You receive the required amount once the deal is done.   

It doesn’t matter in what sector your business operations, SMERGERS has something for everyone with its wide-spread network. You can find businesses and investors from more than 900 industries. It functions globally across more than 170 countries. From investment for telecom software companies to raise funds for network equipment business, SMERGERS has got it all. People have even closed huge deals within 20 minutes!

 

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