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Buying a business is an important decision to make, so ensuring you get the best deal possible, will make an enormous difference to your financial commitment over the years to come.

If you are planning to buy an existing business, you must consider both the advantages and disadvantages, including the history, which may impact the future income of the business. One advantage is that a business with good, sound history can increase the likelihood of a successful operation and will no doubt help towards obtaining finance if required. Potential disadvantages can be overestimating the goodwill figure and a poor public image inherited from the previous owner.

We have put together some tips that will help you through the process of buying a business, minimising the risks and helping you towards getting the right business.