Businesses are barely hanging on. A few years ago, if a bailiff visited or you got a call from a debt collector, you took action. Today, for many companies, it’s almost a normal part of doing business.
(PRWEB) August 05, 2014
UK entrepreneur Jeremy Harbour of The Harbour Club, has acquired, fixed and sold over 40 distressed businesses since 2003. He’s done it using an acquisition strategy that requires no upfront capital, borrowing or debt. With the number of small business in the UK growing and the current economic situation, he sees many opportunities to make profitable investments by buying a business.
Since 2009, Harbour has been helping entrepreneurs capitalize on the UK’s growing small business sector. His business training course on mergers and acquisitions shows people how to make a profit in today's economy: http://thedealjunky.com/?pr
Many UK businesses are in debt and looking for a way out. “Running your own business is not a good retirement strategy for many small business owners right now,” said Harbour. “A lot of businesses are in debt right now. They often hang on even if they are close to bankruptcy because they are afraid to pull the plug.”
According to Enterprise Nation, the estimated number of private businesses in the UK is rising, increasing for the 12th year in a row. The number reached 4.8 million by 2012. However, many of those businesses aren't solvent and are buried in debt. Harbour polled some of the 100+ entrepreneurs in the Harbour Club and found there are more distressed companies available to buy now than two years ago. The unexpected consensus was more businesses are trading whilst insolvent (illegally).
”Businesses are barely hanging on. A few years ago, if a bailiff visited or you got a call from a debt collector, you took action. Today, for many companies, it’s almost a normal part of doing business.” A lot of small business owners rely on credit. So if one business goes down, it can take hundreds or thousands of other businesses with it. Lots of jobs can be lost. So they are doing whatever they can to prevent that from happening.
Habour sees these conditions as a rare opportunity for investors who use his successful strategy. His training course, the Harbour Club, teaches entrepreneurs how to pick up established but struggling businesses without using any upfront capital, borrowing, or debt. Though targeted to the UK, his strategies work globally and have been used in outside the UK in Australia, Singapore and many other countries.
It's a win for businesses too. "When you grow by acquisition you cut out a lot of the blood sweat and years that normally get poured into growing a business," he said. “You can protect your staff and customers when your business is on the brink.”
His advice for struggling business owners: “Look for help. Don’t appoint an insolvency practitioner until you have seen if targeted investment and help could fix the problem, and don’t take on a turnaround person who charges fees. If they know what they are doing they will take risk with you, and work for equity.”
About The Harbour Club
The Harbour Club helps entrepreneurs buy and sell companies, the focus is on distressed or motivated deals with no capital risked and no debt, and rapid turnaround and exit, however it is also perfect for people looking to grow by acquisition instead of costly and risky sales and marketing and also people looking to turn businesses around or exit for the best value in the shortest timeframe. For more information, see http://thedealjunky.com/?pr.