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Starting a business vs buying one: Which is better? 

Buying an existing business can be an easier way to work for yourself than starting one from scratch.

Buying a business means you don’t have to start from scratch and there is already some structure and intellectual capital in place.

Financing options such as SBA loans and business bank loans may be available when buying a business.

You can do due diligence to make sure everything is above board.

It is important to work with an attorney and CPA with experience in business acquisitions.

A personal financial planner should also be consulted to prepare your personal finances.

You may already know the business you’ll buy if you’re currently working in or around it.

A business broker can help you find a business outside your industry or neighborhood.

Buying a business doesn’t guarantee success, but it does allow you to generate cash flow right away.

Check here for more personal finance-related stories. 

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Starting a business vs buying one: Which is better?

Starting a business can be an enticing dream. It’s also notoriously difficult to come up with an original idea, find the right team and fund its growth.

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