I take no pleasure in saying that everyday we still receive a large number of calls from business owners who are struggling to survive. Some of these callers are tenants who are paying unaffordable rents and others are property owners who are paying unaffordable loan interest payments. What they all have in common is they all want to sell their businesses and/or commercial properties and need cash fast.
Those of you who have read some of the articles which I have written for various renowned financial and business journals will have noticed that I am a great supporter of SME’s which I feel are not getting the support and guidance they need from local governments, central government, banks and private sector organizations. When calls come into our office from business owners, I make it a priority of mine to spend as much time as I can talking with these people and although I am not in a position to offer any advice, which I make clear from the outset, they sometimes feel that simply by talking to me helps to clarify their predicaments.The good news is that we can help. We take detailed information from callers on their businesses and properties to see if the assets which they own could be of interest to us. We are predominantly commercial property buyers and so are especially keen when approached by business owners who have shops to sell, offices to sell and industrial property to sell. Where we purchase property, those who sell to us are able to obtain much needed cash in a short period of time and use these funds to repay bank loans and invest in their businesses.
The bad news is that businesses will probably continue to struggle for some time to come. The reality is that at present, people are simply not spending. The factors which are contributing to this are the imminent rise in VAT, banks continuing with their closed door lending policies, negative consumer sentiment, falling house prices, severe government spending cuts and falling commercial property values. Until we see a reversal in at least two of these economic drivers, which doesn’t presently seem to be on the horizon, the country will remain in a poor state of health and businesses will continue to fail.