Buying someone's business

Buying a business can give budding entrepreneurs a head-start, but the risks are as big as the rewards, writes Elaine O'Regan.

Barry Kieran, managing partner of Amatino Partners: 'look at the company's top ten customers and suppliers and be wary of over-reliance'. Photo: www.zanni.ie

For those lucky enough to have the cash to invest, acquiring an established venture can be a valuable route to future revenues.

"It puts you well ahead of the game, since the start-up phase is the most common time for a business to fail," said Cormac Mohan, head of the Business Advisory and Corporate Recovery Team at FM Auditors, Tax & Business Advisers.

By buying a business, Mohan said, entrepreneurs could avoid some ...