Business Transfer: Everything You Need To Know About Buying an Existing Business

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Business operations need to endure the test of time; some entrepreneurs may adapt to a business transfer model or buy an existing business that has been operating in the market for a while, thereby minimising the time and cost of starting a business from scratch. What are the benefits and risks of acquiring and buying a new business? What should you pay attention to during a business transfer? Before deciding to become a business owner, it may be worthwhile to read the following tips essential for understanding how to acquire and buy a business.

Business transfer

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The above information is only for your reference. For detailed information, please refer to the sources and seek professional advice if necessary.  

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Article published on: 2 Oct, 2024

1Source: The Univeristy of Hong Kong - Community Legal Information Centre - 3. Instead of setting up a new business, can I acquire an on-going business? What do I have to bear in mind if I intend to do that? (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.clic.org.hk/en/topics/businessAndCommerce/setting_up_business_in_Hong_Kong/types_of_business_organisation/q3)

2Source: Forbes - Should You Buy An Existing Business? (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www.forbes.com/sites/theyec/2020/12/22/should-you-buy-an-existing-business/?sh=1f61f5cd4214)

3Source: HKTDC- Research - Analysis and News: Hong Kong Start-Up Survey: Strengths and Weaknesses of the Ecosystem: (https://www.dbs.com.hk/sme/disclaimer.page?url=https://research.hktdc.com/en/article/NjY2Mzc0Njkz)

4Source: HK：Hong Kong Trade and Industry Department - SUCCESS - Forms of Entrepreneurship - Acquisition (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www-success-tid-gov-hk.translate.goog/tc_chi/sgbook/chapter_03.html?_x_tr_sl=zh-TW&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp)

5Source: Hong Kong Trade and Industry Department - SUCCESS - Industries and Products -  License/ Legal Document (https://www.dbs.com.hk/sme/disclaimer.page?url=https://www-success-tid-gov-hk.translate.goog/tc_chi/sgbook/chapter_04.html?_x_tr_sl=zh-TW&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp)  

6Source: business.gov.au - Buy an existing business (https://www.dbs.com.hk/sme/disclaimer.page?url=https://business.gov.au/planning/new-businesses/buy-an-existing-business)

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