Many people think that the answer to this question is obvious, however it’s not quite as simple and straight forward as some may perceive.
Yes, we’re in unprecedented times and unchartered waters, and there are obvious concerns around New Zealand’s economic future as a result of the COVID-19 crisis. However, as the famous quote of Benjamin Franklin says: “Out of adversity comes opportunity.”
Sadly, there’s no doubt that there is going to be some hardship and casualties ahead, but on the flip side, there are also going to be some amazing business opportunities.
More and more Buyers
After the Global Financial Crisis of 2008, people looked to take back control of their lives. Buying a job is about the most significant way to take back control – and this will happen. In the $50,000 to $400,000 section of the market we will see a huge amount of activity – and LINK is already starting to see buyer enquiry levels increase significantly.
It’s not just at this level though. There will be more activity in the M&A market as businesses look for growth through strategic acquisitions, buying out competitors, and even amalgamations in the SME sector.
During the lockdown period, non-essential business owners have had the opportunity to address the well-known old problem of ‘working on their business’ as a result of being stuck at home and not being able to work ‘in the business’.
Many of these businesses will come out of lockdown as better, smarter, leaner and more profitable operations.
General Manager – LINK Business Brokers Bay of Plenty