Acquiring small firms over starting up boosts economy and job creation
The article explores what factors lead to success or failure in transferring small businesses. It looks at the resources and skills of the current and new owners, as well as the actions taken to adapt the business to changing markets. The study suggests that having the right resources and skills can predict whether a business will be sold or closed, how well it performs during the transfer, and its success afterward. The findings recommend that governments focus more on supporting people who acquire existing businesses rather than starting new ones, as transfers tend to be more successful and create more jobs.