Launch of booklet to help people wanting to buy a small business

28/3/95

A booklet to help people who want to buy a small business was launched by Small Business Minister Hendy Cowan today.

"New and expanding small businesses are clearly the most potent vehicle for generating jobs and economic growth in Western Australia," Mr Cowan said.

"This guide acknowledges the importance placed on the small business sector by the Government and private industry.

"The continuing growth of the WA economy relies to a large extent on the hard work and initiative of small business people.

"There are thousands of small businesses in WA - and just as importantly, thousands of business ideas and visions.  This booklet is the first comprehensive guide to help people turn their ideas into reality."

The booklet, 'A Guide to Buying a Small Business', has been produced by the Department of Commerce and Trade with support from Westpac Banking Corporation, the Small Business Development Corporation and Business in the Community Ltd.

Mr Cowan said the publication of the booklet was another example of Government working closely with the private sector for the benefit of the small business community.

"It is important that people considering buying a small business should not rush their decision.  Buying a copy of this new booklet and working their way through it will give them the best possible chance of success," he said.

"The buying process can be complex and filled with pitfalls, so a source of comprehensive advice that cuts through the confusion and brings together concisely all the vital elements is most welcome.

"This book puts together in a clear and systematic way much of the information necessary to help individuals to make a decision on buying a business.

"The central message is to encourage people to seek advice and answers so they can plan their business venture carefully.

"Answering the questions posed in this book will minimise risk and improve a buyer's ability to access finance."

The guide encourages people to make use of the resources available from the Department of Commerce and Trade, the Small Business Development Corporation, local business enterprise centres and banks.

Mr Cowan said that working with professionals made the task less daunting and the process more thorough and effective.

"More than ever before, people in small business and people about to start are able to access assistance at the local level through the business enterprise centres network of 36 centres throughout the State," he said.

The guide is available through the Department of Commerce and Trade's State Enterprise Centre, the Small Business Development Corporation, Westpac branches and Business Enterprise Centres.

Media contact:  Peter Jackson 222-9595