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February 25, 2013

BobbyFinance

new-business-ownerWith baby-boomers retiring, there is a growing need for business transition planning, with senior business owners willing to sell their small enterprise to the next generation of entrepreneurs. Acquiring an existing business represents several advantages, like expansion opportunities for your own company or an alternative to starting a business from scratch. For example my friend Patrick recently bought a small copy center with a couple of employees that he manages with a partner, while working full-time. He didn’t have to go through the hassle of opening a store, because he acquired a fully equipped one at a reasonable price. As I got interested in this approach, I reached out to a more seasoned entrepreneur, Hugo Dube, to talk about his own experience in small business acquisition.

Hugo launched his first Tech Company, ServLinks Communication, as a student in 1998, doing mostly web hosting. In 2006 he left his job…

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