Buying a Small Business

Here in the Philippines, we have what we call "Savings and Loan Associations". We, small business owners join them, and invest small amount of money first (to show our eligibility), then we apply for loan. It is easy to get a loan in these kinds of organizations. Their primary objective is to help small entrepreneurs grow their businesses. Do you have these kinds of supportive SLA's in your country?

Any sound business plan, presented to the right person will get you the funds you require. So, if you haven't already, get together with your friend, and create a very sound business plan, that will cover, what you need to start up, why you are unique, how you intend to profit, how long you figure it will take to break even and pay back a loan, as well as how you intend to keep up with changing consumer trends, build the business plan in a way that reads like you intend to be in business for a long long time. Take it to the banks, investment companies, rich people you know...etc, etc. You could also apply for the government grants, there are a few companies online that go as an in-between, I wouldn't use them though, I would contact the grant office of the government. Best of Luck.