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MANILA - Businessmen who want to sell the firms they built may now get the services of brokerage company Link, which recently expanded to the Philippines.

Link, which has its roots in New Zealand, aims to sell businesses too small for investment bankers to be interested in, covering firms worth as small as P500,000 to over P1 billion.

Businessmen sell their firms for a variety of reasons, said Link Philippines CEO Efren Pascual in an interview with ANC's Market Edge.

"Foremost is because of succession. Gone are the days that daddy passes on the business to junior," Pascual said, adding that children of some successful businessmen may want to strike out on their own.

Business broker Ricky Gumaru said there was a big demand for their service in the country.

"Surprisingly, we had an informal survey and out of 10 companies that we approached, there's about 8 who would be interested to sell their business," Gumaru said.

Pascual said many businessmen also want to "cash-in" by selling majority stake in their firms.