Form partnerships or buy another business
Have you considered joint venture opportunities that could grow your business? Instead of doing it all yourself, you could link up with another business or a partner who complements what you do to mutual advantage. Partnerships or strategic alliances are a way to start or grow without investing a large portion of your own capital.
Buying or merging with an existing business can offer many opportunities. Compared to starting a new business, some of the work has already been done for you. An existing business generally has its own markets with a customer base, production facilities, skilled workers, and product or service lines that you can blend or integrate with your own.
- Buying a business
Find out what you need to know before buying a business: where to look, how to evaluate potential acquisitions, and what a fair price would be.
- Joint ventures and partnering
Get an overview of the key ways to set up a joint venture, the pros and cons of joint ventures, and learn how to manage this type of company.
- Know your strategic alliance options
Alliances can help you expand your market. Learn about the different alliance strategies, and how to avoid risks and choose the right partners.
- Key considerations when buying an existing business
You may find it more beneficial to buy an existing business than to create one from scratch.
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