Is Acquiring a Business Right For You? Here’s How to Know If You Should Buy a Business or Start From Scratch

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Opinions expressed by Entrepreneur contributors are their own.
We live in an age where founding an online business has never been simpler. Through the internet and AI, you can do more things and reach more people than ever before. And yet, many aspiring founders fail or burn out, never realizing their goals. Why? Perhaps because building a business isn’t for everyone.Entrepreneurship through acquisition can be a much faster route. An existing business already has customers, tech, staff, income and product-market fit. Making money from those assets is easier than creating them, allowing you to skip those early months or years of experimentation to get off the ground.Yes, some might bristle at sacrificing learnings for day-one profits, but acquiring a company instead of building one opens doors for those who might otherwise have burned out. Better yet, there’s a business for every type of entrepreneur and budget. The barrier to entry is only as high as your available capital.

Instead of a multiyear grind, acquire a business that’s already making money and has the talent you need to succeed. Focus on growth, not survival. Trade capital for time-to-market, the late-night hustle for instant income and learn as you go. Interested? See if entrepreneurship through acquisition is for you below.Related: Want to Start a Business? Consider Buying One Instead — Here’s Why.

Stairs or elevator?Finding a market for a new product or service costs time and money. Before you can even consider scaling your business, you must test whether people want what you’re offering. Between building the product or service, marketing it and gathering feedback, momentum can take months or years to build.Now imagine skipping that early testing phase and knowing your product or service is in high demand and you could conquer a share of the market the moment your company launches. Time saved is time you can invest in growing the company, delivering more of what the market wants to multiply your income.Acquiring a company with growing revenue and cash flow switches the focus from experimentation to scaling proven strategies. As a result, there’s less financial risk, less budget wasted on failed marketing campaigns and less pressure to find customers. Instead, you know exactly where to spend your money.Such knowledge comes only from building a successful business or acquiring one where the harsh lessons have already been learned. It’s the career equivalent of taking the stairs or the elevator. Which you prefer depends on you, but one is faster, easier and offers potentially bigger rewards sooner.

A polished productMany people can’t code or don’t want to learn. That’s okay. When you acquire a company, you acquire a ready-made or “turnkey” suite of technology, infrastructure and processes, often run by those who built them and may stay on after acquisition. You’re then free to focus on what you do best.That’s not to say acquiring a tech company means you won’t ever need engineering expertise. But you can go a long way with ready-built, functioning, bug-free technology before hiring developers. All the prototypes have been made, tested and iterated upon. You simply choose what to develop next.The company roadmap is a font of new growth ideas. New features, especially those customers consistently demand, help increase value perception and justify price increases. By acquiring a company, you won’t need costly experiments to test the market — your customers will tell you what they want.Related: 5 Important Factors Novice Entrepreneurs Must Consider Before Buying a Business

Ready-made teamsWhen you build a business from nothing, usually you’ll have to hire people more skilled than you to perform various business functions. Maybe less fun roles in human resources, engineering or sales, for example. Finding the right people for these jobs is a long, complex process. Hiring mistakes are stressful, costly and require you to repeat the process (with the same risk of hiring the wrong people).A business acquisition, however, can include its talented teams and leaders. You can then ignore the cost of sourcing talent and time spent on interviews, aptitude tests and onboarding. So long as you know how to lead (or are open to learning or hiring someone who does), acquiring a high-performing team to complement your skills will maximize your return on investment in a shorter time while reducing risk.Follow your passionsThere’s a reason startups fail at rates as high as 90% or more. Sometimes it’s being in the wrong time and place. Others fall behind competitors or throw money at problems instead of solving them. But the psychological toll of building a business from nothing can also grind down a founder’s resilience.Building a business from nothing means wearing every hat — sales, marketing, operations, HR, finance and more. Does your entrepreneurial passion span these departments? Does closing the books every month excite you as much as creating a viral marketing campaign? Slogging away on things you’re not passionate about can ruin the entrepreneurial experience.

The joy of acquiring a business is choosing the one you want to run and shaping your day-to-day. Love marketing? Acquire a company that’s never run an ad. Enjoy leadership? Acquire a company with a strong but rudderless team. You’ve got thousands of businesses to choose from, so you needn’t sacrifice your passions for revenue. Pick the right business, and you’ll always love what you do.It’s time travel — for your careerAcquiring a business can shave years off your career, pushing you to think bigger. Why make countless mistakes before hitting upon your one idea that takes off? How long might that trial and error period last? Can you afford to sacrifice years of your career to learn how to build a profitable business from scratch?You can acquire a profitable company for as little as $50,000. Will it be eye-watering revenue? Probably not, but it’s a reasonable starting point. And the upside potential is massive. The acquisition is just the start of your journey. The next rung on the ladder is an exit. Do well and you get the payoff for your hard work, potentially life-changing money and the freedom to pursue another acquisition.Some might say the grind is a rite of passage, that you learn more through failure than success. But acquiring a business doesn’t guarantee success. It just increases your chances. If you can raise the capital, acquiring a business often works out better because the mistakes have already been made. The founder figured out what worked and now you can capitalize on that by giving them an exit opportunity.

Related: What You Need to Know to Buy the Right Business and Acquire Your EmpireIs acquiring a business for everyone?Building a business isn’t for everyone, and neither is acquiring one. Some people are better suited to doing things solo and in their own way. There’s always the chance that cultures clash once you take over the reins. That said, acquiring a company to become a full-time entrepreneur is the fastest road you can take, accelerating returns and freeing you to focus on growth rather than survival.Our advice? Start small. Acquire a company whose biggest weakness is your biggest strength and see how far you can take it. Rinse and repeat until you’ve learned how to earn profits consistently across a portfolio of startups. Maybe then you can start something completely new where the only “grinding” you’ll do is to the beans of your morning coffee. Everything else will be meaningful work and a happier life.

Lexington Police asking for help identifying person accused of stealing from business on Industrial Boulevard

Business News

6 minutes ago

LEXINGTON, S.C. (WOLO)– Lexington Police asking for help identifying person accused of stealing from business on Industrial Boulevard, said investigators.
Police said on December 28, in the early morning hours someone used a ladder to cross a fence and enter a business in the 400 block of Industrial Boulevard.
The person is accused of stealing 3 spools of copper wire valued at $300. Investigators said another person helped the person in the fence are.
Additionally, they both ran away from the property when they saw business security arrived. The copper wire stolen was recovered in the area where the two ran from.
Contact Detective Matthews at 803-358-7262 or [email protected] with info.

Setting up business in Southern Europe

Business News

It’s no great surprise that people are looking towards Southern Europe to embrace a new lifestyle, better weather and conditions to start a business. For me, Portugal is the best choice and a clear leader.When it comes to European destinations, Norther Europeans (not only) are drawn to Portugal and Spain. It’s the obvious choice as both countries have warm climates, and outstanding beaches, not to mention cities of every size and facility. The appeal is far beyond this. Spain and Portugal both offer a laidback and relatively low cost of living compared to other European countries.Both countries have attracted the so-called ‘millennials’, looking for a retirement location. Both are now attracting younger families who want to set up a business and enjoy a better lifestyle for their families. The leading question is which country makes it easiest to set up business, and more importantly, to stay in business. Not so many years ago, many people simply dreamed of opening a bar or a restaurant, some survived, but many didn’t. Opportunities now abound in all areas of service and small business.Getting registeredPortugal seems to have a clear lead here. Portugal has a ‘same day’ company formation available throughout the country. https://www2.gov.pt/en/servicos/criar-uma-empresa-na-hora If you can work with a pre-approved name, (‘off the shelf’), the cost is 360 Euros. You will need to get your tax number first, but any branch of the tax office, and they are everywhere, will deal with this. As far as I am able to discover, Spain does not offer such a service. This Portuguese government service also supplies a variety of articles of association which you can see in advance. It’s a very good service for a new small prospective business, but if you want something tailored to your specific needs, it may be wise to consult a lawyer or accountant.Many companies offer this service on a commercial basis, and prices vary. In both Spain and Portugal, there are many companies who will arrange the whole process for you. If at all possible, work on personal recommendations from people you trust. Get a clear quote for the services you need. Start-up friendlyPortugal is gaining a very positive reputation as a digital hub. The government has also launched initiatives, such as Start-up Portugal, which offers tax benefits and funding to encourage the growth of start-ups. Find out more here, https://startupportugal.com/ This is a non-profit government-backed programme. Spain’s start-up scheme is being developed, especially in Barcelona and Madrid. It is aimed at providing start-ups with mentorship, grants and tax incentives. Both countries should be considered as start-up friendly, but Portugal seems to be further ahead. Internet and mobile servicesAccording to a recent analysis by nPerf, from January 1 to September 30, 2024, which conducted a total of 20,321-speed tests, Portugal has emerged as a leader in mobile connectivity, doubling the average speeds of Spain. Portugal has a good internet network, with fibre readily available in most towns and cities. Both Spain and Portugal offer fast internet speeds, more than sufficient for those who plan to work from home. LanguagePortugal, and especially the Algarve, seems to have a clear advantage here. The official language is Portuguese, but the country is very accommodating to English-speaking foreigners. English is also widely spoken when conducting business. Most business and government documentation is available in English, which makes it easier for foreign entrepreneurs to find their way around the challenges of starting a business.In Spain, it’s somewhat different. English may be spoken for business dealings in areas such as Barcelona or Madrid, but very little outside of these cities. Local businesses and government documentation generally work in Spanish. None of this means you don’t need to learn the local language, if you are going to integrate, it’s worth making the effort. PrecautionsDo your planning with care. What business do you want to start, what is your competition? Work to your strengths, starting a new life in the sunshine will be a difficult enough challenge, at least use your existing skills and experience. Is there a market for what you plan to offer, in which area do you plan to start? Look through our pages, most of the services available to the foreign resident market can be found there. Talk to friends who are already established in the area you are interested in. Look at schooling, accommodation, and office space (if you will need it). Be especially careful about the cost of housing in Spain if you are moving from the UK. Spain’s Prime Minister has recently announced that he plans to introduce a tax of up to 100% on residential property being purchased by non-EU citizens. This will add substantial costs for UK buyers. Get good advisorsEven if you are going to start with an ‘off-the-shelf’ company, you will need an accountant. The local tax system is complex and very thorough. Only an experienced accountancy firm will be able to set you up correctly and keep your accounts in order. Don’t listen to people who tell you it’s possible to ‘keep a low profile’ and avoid tax. It’s not! Find a good bank, there are plenty of choices. Personal recommendations are like gold. In Portugal, banks are increasingly going online with restricted hours of operation at branches. Friends may well already have a good relationship with a bank and be able to introduce you to a contact at the bank. Don’t plan to start with a bank loan, until you are established banks are very reluctant to grant loans. At some point, you will need a lawyer (not a solicitador, it’s not the same thing). A solicitor (solicitador) in Portugal is also a legal professional, but their role is more focused on administrative and procedural aspects of legal matters. You will find major international partnerships with all the services and specialist advice you may need, through to small firms with one or two lawyers with a lot of local knowledge. Always try to get personal recommendations and choose according to the nature and scope of the business you intend to start. Portugal is a great choice to start a new business, not all easy, but worth it.PS. Since writing this column Spain’s Prime Minister has announced plans to impose a tax of up to 100% on properties bought by non-residents from countries outside the EU, such as the UK. Announcing the move, Prime Minister Pedro Sánchez said the “unprecedented” measure was necessary to meet the country’s housing emergency. This makes Portugal even more favourable.Resident in Portugal for 50 years, publishing and writing about Portugal since 1977. Privileged to have seen, firsthand, Portugal progress from a dictatorship (1974) into a stable democracy. 

Paul LuckmanDisclaimer:The views expressed on this page are those of the author and not of The Portugal News.

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Book excerpt: “Fire Weather” by John Vaillant

Arts & Culture, Books

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We may receive an affiliate commission from anything you buy from this article.A 2023 National Book Award finalist, “Fire Weather: On the Front Lines of a Burning World” (Vintage Books), by bestselling author John Vaillant, recounts the rise of climate science and the increasing dangers from climate change, including the devastation brought by today’s wildfires. Read an excerpt below, about a horrendous 2016 wildfire that decimated Fort McMurray, the center of Canada’s oil industry, and don’t miss Tracy Smith’s interview with John Vaillant on “CBS Sunday Morning” January 19!”Fire Weather” by John VaillantPrefer to listen? Audible has a 30-day free trial available right now.PrologueOn a hot afternoon in May 2016, five miles outside the young petro-city of Fort McMurray, Alberta, a small wildfire flickered and ventilated, rapidly expanding its territory through a mixed forest that hadn’t seen fire in decades. This fire, farther off than the others, had started out doing what most human-caused wildfires do in their first hours of life: working its way tentatively from the point of ignition through grass, forest duff, and dead leaves—a fire’s equivalent to baby food. These fuels, in combination with the weather, would determine what kind of fire this one was going to be: a creeping, ground-level smolder doomed to smother in the heavy dew of a cool and windless spring night, or something bigger, more durable, and dynamic—a fire that could turn night into day and day into night, that could, unchecked and all-consuming, bend the world to its will.It was early in the season for wildfires, but crews from the Wildfire Division of Alberta’s Ministry of Forestry and Agriculture were on alert. As soon as smoke was spotted, wildland firefighters were dispatched, supported by a helicopter and water bombers. First responders were shocked by what they saw: by the time a helicopter with a water bucket got over it, the smoke was already black and seething, a sign of unusual intensity. Despite the firefighters’ timely intervention, the fire grew from 4 acres to 150 in two hours. Wildfires usually settle down overnight, as the air cools and the dew falls, but by noon the following day this one had expanded to nearly 2,000 acres. Its rapid growth coincided with a rash of broken temperature records across the North American subarctic that peaked at 90°F on May 3 in a place where temperatures are typically in the 60s. On that day, Tuesday, a smoke- and wind-suppressing inversion lifted, winds whipped up to twenty knots, and a monster leaped across the Athabasca River.Within hours, Fort McMurray was overtaken by a regional apocalypse that drove serial firestorms through the city from end to end—for days. Entire neighborhoods burned to their foundations beneath a towering pyrocumulus cloud typically found over erupting volcanoes. So huge and energetic was this fire-driven weather system that it generated hurricane-force winds and lightning that ignited still more fires many miles away. Nearly 100,000 people were forced to flee in what remains the largest, most rapid single-day evacuation in the history of modern fire. All afternoon, cell phones and dashcams captured citizens cursing, praying, and weeping as they tried to escape a suddenly annihilating world where fists of heat pounded on the windows, the sky rained fire, and the air came alive in roaring flame. Choices that day were stark and few: there was Now, and there was Never.A week later, the fire’s toll conjured images of a nuclear blast: there was not just “damage,” there was total obliteration. Trying to articulate what she saw during a tour of the fire’s aftermath, one official said, “You go to a place where there was a house and what do you see on the ground? Nails. Piles and piles of nails.” More than 2,500 homes and other structures were destroyed, and thousands more were damaged; 2,300 square miles of forest were burned. By the time the first photos were released, the fire had already belched 100 million tons of carbon dioxide into the atmosphere, much of it from burning cars and houses. The Fort McMurray Fire, destined to become the most expensive natural disaster in Canadian history, continued to burn, not for days, but for months. It would not be declared fully extinguished until August of the following year.

Wildfires live and die by the weather, but “the weather” doesn’t mean the same thing it did in 1990, or even a decade ago, and the reason the Fort McMurray Fire trended on newsfeeds around the world in May 2016 was not only because of its terrifying size and ferocity, but also because it was a direct hit—like Hurricane Katrina on New Orleans—on the epicenter of Canada’s multibillion-dollar petroleum industry. That industry and this fire represent supercharged expressions of two trends that have been marching in lockstep for the past century and a half. Together, they embody the spiraling synergy between the headlong rush to exploit hydrocarbons at all costs and the corresponding increase in heat-trapping greenhouse gases that is altering our atmosphere in real time. In the spring of 2016, halfway through the hottest year of the hottest decade in recorded history, a new kind of fire introduced itself to the world.”No one’s ever seen anything like this,” Fort McMurray’s exhausted and grieving fire chief said on national TV. “The way this thing happened, the way it traveled, the way it behaved—this is rewriting the book.”     Excerpted from “Fire Weather: On the Front Lines of a Burning World” by John Vaillant. Published June 2024 by Vintage Books, an imprint of The Knopf Doubleday Publishing Group, a division of Penguin Random House LLC. Copyright © 2024 by John Vaillant.Get the book here:”Fire Weather” by John VaillantBuy locally from Bookshop.orgFor more info:

Paria fuels education and cricket passion with Lara book distribution

Arts & Culture, Books

Paria Fuel has announced an inspiring partnership with cricket legend Brian Lara to foster education and sports among youth. Paria says this initiative underscores its commitment to enriching the communities it serves.As part of this collaboration, Paria has purchased 600 copies of Lara’s new book, “Lara, the England Chronicles,” for distribution to schools within their fence line communities. This sponsorship aims to promote reading, learning, and a passion for cricket among students. The bookoffers a firsthand account of Lara’s remarkable career, serving as a powerful example ofdedication and excellence.Brian Charles Lara expressed his enthusiasm, stating, “I want to make sure that the books get into the hands of the school children and anyone willing to bring out my story. I want to thank Paria for the wonderful opportunity they have provided to me for making this possible and appreciate your contribution to this effort.”Students at San Fernando Central Secondary School pose with their copy of the autographed bookThe first group of school visits took place on Wednesday, January 8, at San Fernando Central Secondary School, Pointe-a-Pierre Government Primary School, and VOS Government Primary School. As the legend walked into the schools, he was greeted with enthusiastic cheers of “Lara Lara Lara” from the students, who were thrilled to see him. He spent time signing books and interacting with both students and teachers. A few lucky students even had the chance to read passages from his book to him aloud.Lara addresses the entire school assembly at San Fernando Central Secondary SchoolHe also allocated time to visit the headquarters of Paria Fuel Trading Company Limited, where he engaged in discussions and shared his experiences with the Leadership team, as well as the 2024 captains of the inter-departmental cricket teams.Through this initiative, Paria hopes to inspire young minds, encouraging them to set ambitious goals and take pride in their community representation. The Company believes Lara’s journey will be a catalyst for motivation and growth among the students.”Paria is thrilled to partner with Mr. Lara on this meaningful initiative,” said MushtaqMohammed, General Manager, Paria. “We are excited to see the positive impact his story will have on our youth, both in the classroom and on the cricket field.”Principal Winston Lochan escorts Brian Charles Lara among the cheers of the children at Pointe–a-Pierre Government Primary School

‘I really hit a nerve with the Libs of TikTok’: CT Lawmakers face social media attack for proposing bill to prohibit book bans

Arts & Culture, Books

Connecticut Senators Bob Duff and Ceci Maher recently introduced a bill prohibiting school book bans. Their desire to protect students’ access to books was instantly attacked online as they were accused of being “desperate” to give children “porn.”

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There used to be a time when book bans and burnings were rare and considered quite harmful. They were most commonly associated with the Nazi book burnings or Ray Bradbury’s dystopian Fahrenheit 451 novel. In recent years, though, they’ve become commonplace in the United States as conservatives work to ban, censor, and challenge thousands of books per year. These book bans are extremely costly to the school districts and give conservatives the power to waste school labor and resources and file as many as 900 book complaints per person. Hence, many states, like California and New Jersey, are trying to get ahead of the rising book-banning movement and passing bills restricting or banning book bans. Unfortunately, fighting book bans has become an increasingly difficult job. To get their way, conservatives frequently levy false and insidious lies against book ban opposers, including accusing them of being predators and pedophiles who are trying to fill school libraries with stacks of pornography. That is precisely what happened when two Connecticut lawmakers tried to prevent people from being able to ban any book they simply disliked.

Senators accused of wanting to give children “porn” Sen. Duff never thought that trying to prevent people from banning books without cause would be considered “controversial.” He stated to CT Insider, “It’s really incredulous to me, because growing up reading about book bans or book burnings, I never thought we would be back in that same place again, where there’s this kind of culture war over people’s ability to freely read what they choose.” Hence, he didn’t expect much backlash when he and Maher introduced their bill. The bill would provide librarians with legal protections to allow them to do their jobs without fear of lawfare. It also would prohibit certain book bans, including those instigated “because of the origin, background or views of the material or of its authors, or solely because a person finds such books offensive.”

However, the bill apparently triggered Libs of TikTok, a far-right account known for posting misinformation to make right-wing trolls hysterical and encourage them to harass and threaten Democrats. The account instantly posted the pictures and full names of Duff and Maher and gave a rundown of their bill, writing, “This is how desperate they are to give your kids p**n in schools!” The post received thousands of shares and hundreds of comments accusing the senators of being “perverse,” “perverts,” “groomers,” and having child pornography on their computers. However, Duff didn’t give in to the misinformation and harassment, writing a measured response to defend his bill.

He wrote, “Apparently, I really hit a nerve with the Libs of TikTok. They don’t like the fact that I’ve introduced legislation with Senator Maher.” Duff went on to explain that the bill simply doesn’t allow people to ban books they don’t like and prevents conservative “crazies” from pressing charges against librarians for doing their job. Considering that conservatives have called the cops on school teachers and librarians and accused librarians of committing felonies for helping a student check out a book, these protections are necessary.

Apparently, I really hit a nerve with the Libs of TikTok. They don’t like the fact that I’ve introduced legislation with Senator Maher. Basically all it does is it says you can’t ban books and we’re gonna make sure that librarians are shielded from lawsuits from all the crazies. pic.twitter.com/y28yYcRE21— Senator Bob Duff, Majority Leader, Connecticut (@senatorduff) January 14, 2025

Of course, Libs of TikTok responded by making daily posts, laughing that Duff wasn’t “coping well” because he dared to respond to them. However, Duff stated that he refuses to buy into “the big lie that there are all these books that are somehow sitting in libraries that are harming kids.” He also explained that his bill was about giving parents back the right to decide what their children read. Duff pointed out that a parent can always go to a library and “say a child is not going to take a book out,” and the decision would be respected. If another parent is fine with their child reading that same book, this bill ensures the library also respects that parent’s decision. Additionally, the bill doesn’t make librarians immune from consequences if they break the law. It simply prevents them from facing frivolous lawsuits for doing their job in “good faith.”

Despite the online attack, Duff and Maher have expressed optimism for the potential passage of their bill. Even so, it’s quite disturbing that we’ve reached the point where people wanting to give children access to books is considered so “controversial” that it results in social media hysteria and dangerous misinformation campaigns.

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