Britons moving abroad to run a business
More buyers looking to foreign markets for inspiration
More Britons are making the brave decision to buy their own business abroad, according to new figures.
A survey by BusinessForSale.com shows that 4 per cent of UK buyers are now looking to buy a business abroad, an increase of 1 pert cent from last year.
The site believes the rise is evidence of a growing trend to buy businesses abroad as opposed to the traditional British culture of starting up in the UK.
The most popular businesses are based in the leisure sector with buyers preferring popular holiday destinations such as Spain, Australia and the US.
Tom and Carly Sibley are planning to quit London’s Metropolitan Police to purchase a business in Spain, the La Vista Marina cocktail bar in Cala d’Or.
Mr Sibley said: “This is a complete change for us, but like a lot of people we’re fed up with our hectic lifestyles in England.
“I’m handing in my notice in April and by May we will be running our new business.”
BusinessForSale believes factors such as the rise of internet use and the strength of the pound internationally are providing more opportunities for buyers.
Marcus Markou, chairman at BusinessForSale told startups that increasing levels of red tape in the UK as well as disposable housing equity were also catalysts for the increasing number of business buyers looking abroad.
He said: “It’s a no-brainer. You can swap your three-bed semi for a business in the sun with accommodation and have cash to spare.
“We should be debating migration not immigration.”