Despite the credit crunch and a faltering economy, entrepreneurs are still finding the finance to buy businesses and are taking advantage of competitive prices.

A survey by entrepreneur website http://www.BusinessesForSale.com of 1,000 currently active business buyers found that:

- 48% of respondents saw the current economic conditions as an advantage when buying a business.

- 66% found banks to be accommodating to their needs, although 33% found their search for funding to be more difficult than expected.

- 28% viewed buying a business as a safer investment than equities or residential property.

- 36% of respondents believed that businesses for sale were more competitively priced as a result of the downturn.

- 60% of business buyers saw business ownership as a way of taking control of their life in difficult times.

"Interest rates are still historically low and asking prices can be lower as sellers look for an exit. It's a good time to buy your way into business ownership," says BusinessesForSale.com director Tony de Vizio.

"Lenders still need to lend and look favourably on those looking to buy a business with cash flow in place," he adds.

According to Dean Edwards, Chairman of the recently formed British Business Brokers Association it's a win-win situation for all. "There will always be reasons for selling a business - regardless of the economy - people retire or they want a change," he says.

"For buyers there is the real prospect of buying a good business at a competitive price and seeing the value of that business dramatically
increase when the economy turns around," he adds.