You're either very wise or very crazy! Almost every small business in the country is currently closed, and many may never reopen again. Huge risk involved here, but best of luck!Hi,
I have often thought of investing, or buying into some small businesses. Are there any websites where business owners can be connected with investors?
I am already on linked finance but am looking at this from a different angle.
FWIW having raised money for SMEs a number of times, virtually every investor I met came across as well informed, calculated in their decision making and have been through it before and had success. Even as a very small SME you meet partners in legal firms, successful entrepreneurs, retired high net worth individuals etc. EIIS in particular is very tax efficient and based on the kinds of people I was meeting I'd say wisdom rather than craziness/high-risk-appetites reigned. Key though is being able to sniff out spoofers and having the capacity to invest in at least 5-10 opportunities because most will not succeed. I don't think this can be done without €250k+, unless you go into one of the funds I mention above where you get diversity, but returns are also heavily reduced.You're either very wise or very crazy!
FWIW what I am hearing is that C19 has created two opportunities - distressed businesses that need cash but should survive, and businesses that have had their model proven by the crisis (ie. they're seeing little impact or are actually doing better than before) and are likely to now thrive. Certainly the risk has increased though!Almost every small business in the country is currently closed, and many may never reopen again. Huge risk involved here, but best of luck!
Plenty of small business open and doing well. (I'll say nothing )You're either very wise or very crazy! Almost every small business in the country is currently closed, and many may never reopen again. Huge risk involved here, but best of luck!
I do hope you're successful. Small businesses are the lifeblood of the economy, and don't always get the focus they deserve.
As they say in GAA terms "Why change a winning team?" - Keep doing what you do and know. Why risk your money, sanity, life at this stage?Thanks all for your replies. To give a little more context I have worked in large domestic and multinational companies my whole career. I feel like I fell into my career by chance and also feel like I have been very lucky in my career progression and direction. I've always felt that I would like to start a small business and as time went by this fell a little bit off my radar. Right now I am just exploring this as a possibility and all in have approx 150k to invest and would ideally like to spread this over three companies. Like I say, I am only at the early stages and only looking to see what is available.
Depending on how it pans out and the investment I would be willing to be actively involved in running the businesses subject to skills matching.
I am not a mega rich guy, or any sort of business tycoon. I have saved this money through bonuses and salary over a few years. I have got a mortgage and know that paying 150k off it would be the risk free thing to do. This will all come down to risk (which is my profession) and I will not rush into any decision.
Thanks very much cousin_borat. Or should I say "very niiiice"