Post
Topic
Board Economics
Re: Would you rather start/grow a business from scratch or buy an existing business?
by
erep
on 21/12/2023, 22:45:08 UTC
Yes, you run from scratch is hard but the awareness and knowledge you do have on a business is great comparing that you are just simply buying it. Somewhat its true
that it would really be that simple on buying on specially that everything has been set up and you do really just need to run it with different management of course
but we know that there's still imposed risks when it comes to it. Doesnt matter on which one you would be choosing on which both
things will really be requiring that time and handling and budget and on everything.
I differ from your opinion on this, because entrepreneurs who want to buy a business already have high entrepreneurial knowledge compared to new entrepreneurs and already have a history of experience managing large businesses before, they also already have plans, budgets, and other things to develop the business. Sometimes they buy a business at a high price because they already know the potential for higher profits from the business.

However, if business people do not have sufficient knowledge and have a limited budget, then the right choice is to open a new business to improve entrepreneurial abilities in managing the business.