If you find yourself wanting to enter the business world as an owner, you basically have two choices: start your own from scratch, or purchase an existing company. Each course of action has its benefits and potential drawbacks, and ultimately, the decision will be based on personal preference. However, until you know more, how will you decide which path you prefer?
A Tampa CPA from Reliance Consulting, LLC, can answer all your questions about the pros and cons of owning or buying a business. Since opening our doors in 1984, Reliance has helped hundreds of businesses reach maximum potential, and we can do the same for your company. When it comes to making that initial foray into the business world, it’s particularly important to have the guidance of an experienced, trusted partner. That’s what a Reliance CPA can be for you – a valued colleague and advisor with the knowledge you need to reach your objectives.
Here is a brief comparison of starting a business and buying an existing company:
- Buying an existing business eliminates startup costs; starting a business allows you to determine the original vision and initial goals, rather than trying to adjust to someone else’s ideas.
- Starting a business means you are likely to have to establish cash flow to begin; an existing business can be presumed to have cash flow in place.
- Buying a business means you inherit the potential problems (customer relations, legal, etc.) of the former owner; starting your own business allows you to begin with a clean slate and establish relationships on your terms.
To learn more about the pluses and minuses of buying a business versus starting your own, contact Reliance today. Your priorities are our priorities, and we’ll be with you every step of the way whether you decide to buy a company or build one from the ground up.