Mark3181 2 | 19 13 Jun 2007 / #1HiI'm Considering buying a already well established Polish Business and will be making a visit to Poland to see how I can raise finance. I am going to talk to some banks during my visit.So since I always get some good advice on here (or should I say words of wisdom)What are my chances of coming back from my trip with some sort of funding organised?or are Polish Banks not to forth coming with help
hello 22 | 890 13 Jun 2007 / #2I would suggest to have most (if not all) the funds when you enter Poland; otherwise it may take you a lot of time and stress to get approved. What kind of business niche do you have in mind? Or it could be any kind of business - provided it's well-established?
OP Mark3181 2 | 19 13 Jun 2007 / #3Well the business I'm looking at is Electrical installations been established 40 yrs and now the current owner is selling in on and going to offer support for at least a yearso sounds like it might be tough then raising the money?
hello 22 | 890 13 Jun 2007 / #4Well, without a sound business plan it might be hard to persuade banks to get you a loan (unless you want to risk and take high-percentage loan). Without 50% your own financing I wouldn't risk it. Also, most old Polish businesses aren't very modern so you may want to be sure whatever they manufacture will find a buyer in the next several years, at least.
OP Mark3181 2 | 19 13 Jun 2007 / #5mmm...so might be a good idea to go and see the owner of the business during my trip least I can see if it's worth the interestthanks
BubbaWoo 33 | 3,506 13 Jun 2007 / #6ive always had problems getting accurate valuations of a company's worth Mark... just for your information... you might have passed this stage already...
OP Mark3181 2 | 19 14 Jun 2007 / #7No still in the early stages Bubbawooso not commited yet done some searching on the net for advice in regards to purchasing a business especially as it is my first time.thanks
PiEC 17 Jun 2007 / #8Mark, I know I should not recommend myself, but if you need a help I think I can help you organise fundings. Please email me at contact@PiEC.co.uk with exact info of what are you looking for. Regards Ludwik