October Sales of California’s Small Businesses Show Improvement
Sales of small and mid-sized businesses in California showed improvement in October, demonstrating turnaround of key factors that impact the market, and corresponding to growth in other economic indicators. This impacts business buyers, business owners/sellers, business brokers and other professionals serving this market.
(Vocus/PRWEB ) November 12, 2009 -- The total of 1,314 small and mid-sized California businesses sold last month, as reported by BizBen.com --business for sale listings in California, could signal a turnaround from the lackluster sales activity of last summer.
Business For Sale Listings In California - BizBen
“October was the strongest sales month we’ve had since May, and I think it’s an indication that some of the factors we saw dragging down this market are now becoming more robust,” said Peter Siegel, MBA, founder and CEO of BizBen.com
“This is encouraging news for the industry,” he added. “It corresponds to the brighter picture suggested by some of the leading economic indicators that are moving in a positive direction.”
Among the factors Siegel cited as “coming around and contributing to the growth in small businesses for sale," are increased willingness of lenders to participate in the market, and less uncertainty on the part of entrepreneurs who were hesitant to move forward.
“When the banks are starting to lend and buyers are ready to make commitments, it means the business of business sales can start getting healthy,” according to Siegel.
He also noted that industry observers believe some of the movement can be attributed to pent-up demand.
“Buyers who are serious about getting into a business become more realistic about what is available and at what price. They get off the fence and start to make offers.”
Siegel said people who are interested in selling a business “get more motivated as time goes on and as they become more and more interested in retiring or moving into another enterprise.
“We're learning that owners who are ready to turn the business over to someone else are learning what the market will bear, and they are getting more realistic.”
The improved October ‘09 figures still fall short of the sales total for the same month last year, when 2,323 enterprises changed hands.
And the 12,130 sales total for the ten months of 2009, is a 35% drop from the 18,665 completed deals during the same 2008 period, according to the BizBen.com figures.
October mid-sized and small business sales by California county are as follows:
Alameda: 62, Amador: 1, Butte: 5, Calaveras: 1, Contra Costa: 42, El Dorado: 8, Fresno: 37, Imperial: 1, Kern: 18, Kings: 1, Lake: 1, Lassen: 1, Los Angeles: 379, Madera: 1, Marin: 5, Mendocino: 1, Merced: 7, Mono: 3, Monterey: 13, Napa: 3, Nevada: 6, Orange: 99, Placer: 11, Riverside: 23, Sacramento: 64, San Bernardino: 58, San Diego: 129, San Francisco: 61, San Joaquin: 10, San Luis Obispo: 14, San Mateo: 32, Santa Barbara: 25, Santa Clara: 59, Santa Cruz: 7, Shasta: 11, Solano: 14, Sonoma: 26, Stanislaus: 16, Sutter: 7, Tehama: 1, Trinity: 1, Tulare: 9, Tuolumne: 3, Ventura: 30, Yolo: 7, Yuba: 1
In addition to monitoring and reporting on small business sales BizBen.com provides California’s most active and popular online marketplace for small and mid-sized companies being bought and sold, with 7000+ offerings promoted on the site and 200 additional for-sale postings daily. The site also features a number of resources, articles, news items, practical tips and a blog page, all providing valuable information, ideas and opportunities for small business owners/sellers, business buyers and the professionals serving this market.
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