As the M&A market starts to pick up, industry reports suggest that a new class of buyers are coming to the table.
In fact, many of these buyers are people who have only just started to look at buying a company as a feasible option. A slight but prolonged upturn in the economy has made more people consider their options and prompted them to explore a deep-rooted desire to be their own boss and drive up their earning potential.
Roger Mundy, managing director of a business transfer specialist based in Exeter, Beardsley Theobalds, told The Western Morning News that funding is one of the biggest issues for new buyers.
“Besides good credentials, the key to a prospective business owner securing funding is a good understanding of the lender's borrowing criteria and a well thought out and fully documented proposal including a business plan and financial projections,” he told the paper.
While new buyers are likely to find that there are more businesses on the market than there were this time last year, Mundy warned that they will also be facing higher levels of competition. This is due largely to an increase in risk appetite; the economy is on the up and many sectors are taking the opportunity to expand while the future looks bright.
As ever, the key to succeeding in this kind of market is preparation. Buyers need to make sure that their funding is in order before making an approach, and be prepared to show proof of funds as soon as its required if they expect to be taken seriously by sellers. 
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