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Businesses for sale

By Becky McCray

Small towns and areas with declining populations have fought for years to increase industry and employment. One of the economic development strategies being used today is to locate businesses that are for sale, select ones that match the special natural resources of your area, and support local business people and entrepreneurs in buying those businesses to relocate into your area.

It’s a double bonus thing. First, you are taking an existing business that has a head start over a brand new business. Second, you are using people from your area who are much more likely to stay in your area even if the business is successful.

It makes a lot more sense to me than offering huge incentives to try to lure big businesses who are playing one town off of another, won’t stick around, and frequently don’t deliver on those big promises. (Read the EDPro Weblog if you don’t believe me about that.)

In our area, we heard about this approach from the Northwest Oklahoma Alliance and consultant Neil Doty. NWOA has a page online describing this approach, that they are calling REBAR: Rural Economic Business Acquisition and Relocation Strategy. It’s a good read, with 12 factors to consider about each target business.

Yaro Starak at Entrepreneur’s Journey brought up a resource that could be really helpful for this, an RSS feed (blog) of businesses for sale. You can also get info in email updates. The site is BusinessesForSale.com. I can see this as a terrific tool for this particular strategy.

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About Becky McCray

Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.
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  • In an economic crisis, spend your brainpower before your dollars - November 25, 2020
  • Video: How to fill empty car dealership buildings for the holidays - November 6, 2020
  • How has 2020 changed the challenges rural small towns face? Tell us here - October 20, 2020
  • The Idea Friendly Method to surviving a business crisis - October 6, 2020
  • Join me for the Rural Renewal Symposium online Oct 13 - September 26, 2020
  • Cheap placemaking idea: instant murals - September 11, 2020
  • Refilling the rural business pipeline - July 7, 2020
  • Huge vacant buildings: grants to renovate? - June 9, 2020

May 11, 2006 Filed Under: economic development, resources

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Comments

  1. Chris says

    May 11, 2006 at 7:16 pm

    And hey, if you know anyone in the retail spirits business, I came across this article about simplicity selling of wine. : )

  2. Becky McCray says

    May 11, 2006 at 7:54 pm

    Thanks, Chris, for the pointer to a great idea. I can tell you are just obsessed with my business!

Trackbacks

  1. Resource: Businesses for sale at USA Biz Mart says:
    May 2, 2013 at 3:46 am

    […] Want to know how this connects to economic development? Read Businesses for sale. […]

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