Is there a small business help office in most states to help small business buyers?
Answer Hi Barbara, You are wise to be cautious about buying a business. The following is an except directly from my book that should answer your questions: Buying an Existing Business Businesses are sold for all kinds of reasons: they arent profitable, the owners are ill, relocating, retiring, or pursuing other interests. When considering buying an established business, make sure to get professional assistance. An accountant, business consulting company or business broker can help you with the details, and you will also need the consult of a lawyer. In some cases, it can be slightly easier to obtain a loan when buying an existing business versus starting a new business. Banks like businesses that are established and have a successful track record. It could also help if you have experience in a related field or industry, adding to your credibility as a good credit risk. When evaluating a business, you will want to see at least the previous two years of bookkeeping records and review the
