How to buy a failing business online, it’s been a common theme for the industry.
It’s not a new phenomenon, and a recent study from the Sydney-based digital media agency Sustainability Media found that a mere 1 in 5 businesses online were in financial distress.
The problem is, it can be hard to sell your business on its viability.
According to a recent survey conducted by the Australian Institute of Company Directors (AICD), only 9 per cent of businesses surveyed felt confident they were able to get through the next six months, and that was despite the fact that they were in a position to sell.
AICd data also found that businesses that struggled in the past were the most likely to do so in the future.
“Many businesses that have suffered financially before are likely to have a much harder time selling their business to someone else in the short term, but are more likely to succeed in the long term,” it said.
“That’s the case in this instance, as many businesses have been in the black for a long time.”
Businesses that have been struggling before may be better placed to turn around their fortunes, as they are less likely to be at risk of a sudden collapse.
“Read more: Businesses struggling in the digital age can learn from how the internet has helped them recover