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16 de April de 2024
Re-Entrepreneurship: Advantages of Business Transfers
Entrepreneurship has always been a path to explore for professionals, especially dreamers. The idea of being your own boss and dedicating productive hours to something that belongs to you makes entrepreneurship an attractive way to make a living and contribute to society. For many, the idea of starting a project from scratch may seem daunting, but starting a company from zero is not the only way to embark on entrepreneurship. There is the possibility of becoming an entrepreneur of an already established business through a transfer or a buy-sell agreement. While it’s a practice that has been going on for years, it hasn’t been until recently that platforms have emerged to make it easier.
What’s re-entrepreneurship?
Re-entrepreneurship is the practice of transferring ongoing businesses. Its main goal is to promote economic growth and business sustainability. This action provides a solution for all those who want to leave their businesses, whether because they want to retire or for personal reasons. In this way, companies have a second chance that can be seized by new entrepreneurs interested in continuing with established businesses.
That’s why all those who have decided to try re-entrepreneurship claim that continuing with something that has proven to be viable, has much less risk than starting from scratch.
In recent years, there have been several apps that have advanced this entrepreneurial initiative. In Barcelona, back in 2011, Reempresa was launched — a platform dedicated to buying and selling small and medium-sized Catalan businesses. Their business transfer process stands out for its attention to detail, ensuring both the previous and new owners reach mutually beneficial agreements for a seamless transition. This approach supports the local economy while also preserving jobs and ensuring the continuity of services and products with existing loyal customer bases.
But Reempresa isn’t the only platform streamlining business transfers. In the Basque Country, Negozion is on the same path: making it easy to transfer businesses from owners who can no longer manage them to entrepreneurs willing to give them a second chance.
Benefits of buying and selling businesses
The buying and selling of businesses is a strategy for growth and renewal that offers various benefits to both buyers and sellers. Among these benefits, it ensures continuity for established businesses and allows fresh ideas to enter the market.
For entrepreneurs
- Access to new markets: Acquiring an established company provides a quick entry into new markets, removing entry barriers and reducing the time and effort needed to build a brand from scratch.
- Established Customer Base: Buyers benefit from an established customer base, providing entrepreneurs with easier access to revenue streams and mitigating the risks of launching a new venture.
- Established Operations and Processes: Taking over tried-and-tested operations, processes, and systems allows new owners to concentrate on improving and expanding the business.
- Access to Talent and Expertise: Acquiring an established business also means gaining access to a skilled team with industry experience, providing valuable opportunities for business growth and development.
For sellers
- Strategic Exit: For entrepreneurs seeking to retire or change direction, selling their company provides a smoother exit, avoiding the need to shut down their business and ensuring the future of the enterprise they’ve invested their time and money into.
- Liquidity: Selling allows the owner to access the accumulated value of the business, which can be used for future investments, retirement, or any other personal purposes.
Re-entrepreneurship shows how a business can reinvent itself and soar to new heights by building on an existing foundation. Let’s face it: it’s easier to refine a masterpiece than to create one from scratch. That’s what this entrepreneurial approach is all about: giving businesses a second chance to shine.
