I’ve seen how buyers and sellers, as well as their business brokers, can use their resourcefulness to overcome difficult challenges.
Dublin, CA (Vocus) December 4, 2009
The economy’s pattern of inconsistency is clearly reflected in the month-to-month fluctuations in the closed-deals volume for California’s small and mid-sized businesses. The 954 completed escrows in the just-completed month represent a sharp decline from the gains seen in October, when 1,314 small businesses were sold, according to the figures supplied by BizBen.com--small businesses for sale in California.
The BizBen.com report also shows a drop from the November 2008 count of 1,220 closed deals.
“Uncertainty is still a major operating factor in the marketplace,” said Peter Siegel, MBA, founder and CEO of BizBen.com.
“We continue to encounter lenders not ready to approve loans, buyers who are hesitant about making a decision, and small business owners who want out, but aren’t ready to sell.
“But still,” Siegel said, “I put my money on California’s small business entrepreneurs to get their confidence back before many other players in this economy, like the employers not prepared to hire, and consumers hesitant to start shopping.
“I’ve been working in the marketplace where small California businesses are bought and sold for a long time,” he said. “I’ve seen how buyers and sellers, as well as their business brokers, can use their resourcefulness to overcome difficult challenges.”
Among the current challenges, according to Siegel, are the “reluctance of many lenders to provide the money needed to close deals, and the affect of declining profits on the market value of small businesses.”
Siegel also pointed out that small business sales “started at a brisk pace early last month, but fell off at the end of November--a time when a lot of people wanted to focus on preparing for the holidays.”
November mid-sized and small business sales by California county are as follows:
Alameda: 24, Amador: 3, Butte: 8, Contra Costa: 15, El Dorado: 8, Fresno: 21, Humboldt: 1, Kern: 16, Los Angeles: 268, Madera: 1, Marin: 3, Mariposa: 1, Mendocino: 1, Merced: 6, Monterey: 6, Napa: 5, Nevada: 1, Orange: 97, Placer: 4, Riverside: 33, Sacramento: 28, San Bernardino: 53, San Diego: 91, San Francisco: 45, San Joaquin: 22, San Luis Obispo: 5, San Mateo: 13, Santa Barbara: 17, Santa Clara: 50, Santa Cruz: 7, Shasta: 3, Solano: 8, Sonoma: 18, Stanislaus: 21, Sutter: 4, Tehama: 3, Tulare: 19, Ventura: 21, Yolo: 3, Yuba: 1
BizBen.com has been tracking small business sales in California for more than 10 years and has been the state’s leading clearinghouse for small and mid-market business opportunities since the early 1990s. More than 200 new listings are added daily to the 7,500+ offerings at the site. The site also features a number of “how to” articles, relevant news items, practical tips and other resources that provide valuable information and ideas for small business owners/sellers, business buyers and the professionals serving this market.
Contact: Peter Siegel