Is Samsung Thinking About Purchasing MeeGo?

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Maybe the greatest casualty of Nokia's decision to go full-blown Windows Phone with its future smartphones is the MeeGo operating system. Symbian still has a few good years left, but MeeGo never really got the chance it needed. The Nokia N9 could have been a great launching point to bring the platform into the public eye, but Nokia's announcement that the N9 will not only be its first real MeeGo release, but also its last, paints a bleak picture for the system's future. Could it have one, though, in the hands of another company?

Recent rumors have argued that Intel, the other half of the MeeGo partnership, would also be dropping support for the platform. In the face of this total abandonment, a new report suggests that Samsung may be the player to step in and pick up the MeeGo reigns.

This report cites "tech industry sources" as the basis for these rumors. Samsung might be interested in such a venture due to its recent Android-related patent troubles, or it might be thinking of bringing in a new codebase to either replace or integrate with Bada.

So far, we're not aware of the company's response to this report, but even if accurate, it likely wouldn't have anything to say until the deal was done.

Source: Mobiledia
Via: CNET

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Thinking About Buying a Business? 7 Tips to Consider

As more people join the ranks of the unemployed, the desire to own a business that they have more control over becomes very appealing.

The hunt for a business can be daunting and, to assist you, I have compiled these tips.

Tip One:

It may seem an odd tip, but really is an important one. Make sure you are ready to purchase a business. But you say; "Why would I be looking for a business, if I'm not prepared to buy?"

Yes does seem a no brainer. But from my experience, working with hundreds of buyers, some are really ready to buy and others appear to enjoy the process.

Realize that there is no "perfect" business. When you find one that meets most of your standards, make an offer. Be sure to include in the offer to purchase contract that you are granted a due diligence period to examine the books and records of the business. And if the business is not generating the revenue that you were told, you have the right to back out of the contract and your deposit money is returned.

Tip two:

Do some research on the type of business you would enjoy running. When you acquire a business, you are purchasing a job. So it is important to find out what is involved in running a business in that industry. Restaurants, bars and convenience stores involve long hours. Will the business require special skills or licenses that you have to qualify for, or a waiting period to take the test for that license?

Are you willing to invest the time and money to make the business successful? I once sold a business where part of the owner's job was to market. The business contacts were made visiting existing and acquiring new clients on weekends. The new owner purchased the business and became upset that the clients were not calling him. When asked if he was marketing to the clients, he stated that he wasn't going to work on weekends.

Tip Three:

Get as much information on the business up front. Request copies of at least three years tax returns and current profit and loss statements and, if you are not comfortable reviewing them, have your CPA look them over. If you don't have CPA, now is the time to hire one. You will need an accountant or CPA for the new business.

Tip Four:

Ask for an equipment list from the Seller. If you are purchasing the property, ask for a site plan and see if the owner has a recent appraisal of the real estate. If the business is leasing the property, ask for a copy of the lease. Check the terms as to what is covered, the length of the lease. Does it contain options to renew? You don't want to be forced to relocate the business in the near future because the lease expires. And find out what is prohibited by the landlord. You may think that a large new sign is what the business needs, but the landlord does not want it on the property.

Tip Five:

Check the local ordinances as what activities the business can and cannot engage in. Perhaps you want to buy a restaurant and what to add live music at night. The local laws may contain a noise ordinance that would prohibit having a band.

Tip Six:

Where do you find businesses for sale? You could check the newspaper classifieds, though the businesses for sale column is thinner than it used to be just five years ago, there are still businesses listed there.

Now businesses for sale tend to be listed on the internet, with websites like BizBuySell.com, BusinessNation.com, BusinessesforSale.com, Acquisitions-Unlimited.com and BusinessForSaleFlorida.biz.

Network with people who own businesses in the industry which you are considering. Getting to know other business owners is good idea. They will be a source of information.

Tip Seven:

Your best resource is a professional business broker. In many states a real estate license is required to sell businesses, but a business broker is trained to sell businesses, not homes. Many professional business brokers belong to trade associations, like the International Business Brokers Association and Business Brokers of Florida. These associations provide training in the field of business brokerage and mergers and acquisitions.

Business brokers are in contact with business owners and, because of this, know when the owner is considering selling his business, but does not want to advertise it on the open market.

When working with a broker, he or she will attempt to pre-qualify a buyer by asking a series of questions. These questions will include what kind of business are you looking for and, what type of business would you be interested in operating. Another question is how much money does the business need to generate after expenses (also known as cash flow to owner) for you to live comfortably. This leads to the broker's the next question.

"How much money would you like to invest in a business?" This is a polite way of asking; "How much money do you have?" The wrong answer is; "As much as it takes." Or; "It depends on the business." Unless you are Warren Buffet, it doesn't depend on the business. If you as rich as Warren Buffet or Bill Gates tell the broker up front, if not state that monetary limit.

The broker will be spending time searching for a business in your chosen industry, within your price range, and with the desired cash flow, but can only efficiently help you if he knows your down payment comfort level.

Brokers prepare business profiles on the businesses that they have listed and, theses profiles include the information listed in tips three, four and five. So you don't have to search for this information. Let me say, however, that there are cash businesses.

Business brokers have contacts that make the acquisition process smoother than attempting the process solo. These contacts include attorneys that specialize in business closings. Since these attorneys are involved in closings on a daily basis, they have the forms prepared and the staff can quickly prepare the necessary documents. This results in the procedure being done correctly and often with a cost savings.

Business brokers have contacts in the lending industry. I don't know how many times I have heard a buyer saying; "I'm going to get a loan to purchase the business." It is very rare that a conventional bank will loan money to purchase a business. And I have heard of only one that loaned on a distribution company. The Small Business Administration (SBA) guarantees loans and some businesses qualify. There are SBA mortgage brokers and the business broker works with these contacts to secure you a loan, if the business qualifies.

Business brokers have the necessary forms to prepare an Asset Purchase Agreement. These forms are created from experience and, oftentimes standardized by the associations to which the broker belongs. The Asset Purchase Agreement is the most important and it incorporates the due diligence issues and other contingencies that protect the buyer.

Owning your business allows you to gain more control of your destiny. Small businesses employ the vast majority of Americans, even more than the large corporations. A business becomes like a child that you grow. I wish you luck in finding that business that may not be perfect now, but through your ingenuity, hard work and brilliant ideas you can create the perfect business.

Gregory Colvin is an author and editor of BusinessForSaleInFlorida http://businessforsaleflorida.biz. He has over 10 years in the business brokerage field and is located in Tampa Florida. Visit BusinessForSaleInFlorida for a free copy of Dr. Bart Basi's Special Report "The Patient Protection and Affordable Health Care Act and The Tax Laws Hidden Therein" Dr.Bart Basi holds an MBA in Accounting and Finance and a PhD in Economics.

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Thinking About Buying an Established Business? - Where Can You Go to Buy a Business?

Buying a business can be a little overwhelming. There are many places which list businesses for sale. The most obvious places to start are of course is locally, in Newspapers and trade magazines; talk to business brokers, and ask your accountant or business adviser if they know of any potential businesses on the market.

Also, research 'businesses for sale' using your web access. It is a good idea to list your requirements online and receive instant notification when something suitable comes on to the market.

If you are already in business and are looking at strategic acquisitions, you may find word of mouth a useful method - through customers, competitors and suppliers. Naturally this depends on the relationship you have with them.

Every once in a while you may come across a business you would just love to own that is not for sale and wonder how to approach the business owner.This type of sale happens more often than you would expect, but it must be done in the correct manner to ensure you buy at the right price.

1. Buying a Business - What type of business can you see yourself owning and working in?

If you are not sure and have not had a great amount of exposure to small business your first step is to find out more on the life of a small business owner, have a chat with some business owners and find out how their first few months were when they were new to the business. How has buying a business changed their lives and what advice could they provide. Was their motivation to work in the business or run it at arms length?

Straight talk - unless you are looking at buying the business do not ever ask them personal questions such as how much the business turns over or anything regarding their financials as that is like someone asking you how much you get paid. Do not be hesitant to approach a business owner; you will be surprised just how much assistance business owners are willing to give you if you are genuine and transparent about it. It is a good idea to be prepared and have a couple of questions ready ahead of time, by being tactful and considerate you will get some great insights on operating a business from successful business owners!

2. Buying a Business - Are you a first time business buyer?

It is very normal for first time business buyers to start feeling overwhelmed and a little hesitant about buying a business, if this is the case you might be more comfortable taking a look at a franchise. Many first time business buyers feel that buying a franchise reduces the risk and provides them with additional and ongoing support from the franchisor.

3. Buying a Business - Discover hundreds of different types of businesses for sale

Business buying and selling websites are popping up all over the place which is great for you. There are many sites to look at, here is a few tips to help you research: - Use a search engine like Google and make sure you are 'Googling' in the Google site associated with the country you are looking to buy a business. e.g. http://www.google.com.au (Australia). This will show your local country pages first, making it easier to get to where you want fast.

- If you do not know what type of business you would like to buy, simply search for businesses for sale in the geographical area of choice.

- If you have a clear idea on the type of business you would like to buy then simply type the exact business for sale and geographical area.

- Make sure you do not miss the Businesses for Sale By Owner sites - Google shows a healthy list of them, our research indicates that over 30% of the businesses offered for sale are for sale by the owner (you may see the abbreviation FSBO or DIY ) so Google the abbreviation. Many smart business owners are now acquiring all the skills and information they need to successfully sell their own business without a business broker. This could be a huge benefit to you as the business buyer.

Buying a business successfully is really quite simple when you have all the information and a helping hand to guide you through the process without making avoidable mistakes. It is important to ensure you have as much information as possible because, in most cases, the business broker is working for the seller/owner. You can be one step ahead at all time armed with all the information and a business valuation tool will put you in the very best possible buying position for a win/win outcome.

For more information regarding Buying a Small Business, a recommended resource for expert, user-friendly, step by step Business Buying Information and Small Business Valuation Software Tool, go to http://www.bizbuykits.com

Signup for a free 'Insiders Tips for Buying a Business' when you visit the BizBuy Kit for business buyers. The Bizbuy kit is low cost and covers a myriad of tips, techniques and strategies - a vital resource. Plus, there is a comprehensive Small Business Valuation Software Tool enabling the buyer to expertly appraise a business multiple times.

The authors of the popular eBooks 'How To Buy A Business' and 'How to Sell Your Own Business' are experts in their fields of Business Buying, Selling and Business Valuation. With decades of experience buying and selling businesses of all sizes, they have seen many mistakes made by both buyers and owners. They have combined all their years of knowledge to deliver a low cost alternative for DIY buyers and sellers, stepping through the process thoroughly in order to avoid common mistakes and significant expense.

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