IBBA Says 2007 a Good Year to Buy or Sell a Business

Want to Buy or Sell a Business? You're Not Alone!

The International Business Brokers Association (IBBA), recently surveyed over 1,900 of their members in the U.S. and 14 other countries. The results are an optimistic view of the new year. Almost a majority, or fifty-three percent said they expect the economy to improve this year.

Eighty-seven percent said they think more businesses will sell this year. They credit this to a lot of business owners selling their businesses to retire. Baby boomers are leaving the workforce and want to buy businesses. Others already own businesses and want to sell them.

The respondents gave some good advice for preparing a business for sale. They note that the sooner you start to prepare, the more you can get for your business.

From the survey here are the top things you can do when selling a business:

• Improve cash flow
• Update all documents and records
• Determe the company's actual worth

Here are the most important factors for buying a business:

• Cash flow
• Buy an established business with proven success
• Employees and key staff

This confirms what we've been hearing from California business brokers. About the middle of January we've been incredibly busy at BizBen working with buyers and sellers. It's a great time to buy or sell a California business!

Posted on February 7, 2007  |   Email This Blog Post   |   Print This Blog Post