THERE is plenty of press around at the moment pointing out the Coast economy has suffered over the past two years.

Tourism has been down, the weather been horrible and the building industry has been slower just to name a few of the problems. With all these factors considered, there are probably many thinking that it might not be the best time to open a business.

However it is the ideal time to purchase an existing business and with buyer enquiry being so strong lately, it seems like I am not the only one with the opinion.

One of the benefits of this slower economic climate is that it sorts out the good businesses from the ordinary.

If a business has come through the downturn in a fair state, there is every chance that it is a sound business built on good fundamentals.

The greatest concern a buyer has is purchasing a business only to see the their investment head south after they take over. Naturally with a lot of capital on the line, all buyers are looking at minimizing their risk and buying now could be a great way to do this.  After two years of slower economic conditions, buyers are more likely to be seeing a business after going through its toughest period. This should give them more confidence in the business that they are purchasing as a solid investment. There are probably many people out there who bought a business 2-3 years ago who wish they could have had the benefit of seeing their business go through a slower economic period.

When the Coast economy starts to turn around these businesses will be well placed to capitalize on the future and an improvement in the local economy probably isn’t too far away.

Large infrastructure projects such as the Kawana Hospital and the return to better weather patterns are likely to help things improve over the next few years.

If you are looking at buying a business, it is still important that you take the necessary steps such as due diligence to ensure that it is suitable. However you can take confidence from the act that a business that has come through the ownturn is likely to continue to trade well into the future.