Recent inquiries by business reporters from a major metropolitan daily newspaper and a news radio affiliate demonstrate a growing interest on the part of the media in learning about the buying and selling of small California businesses during this economic crisis, and talking to BizBen to get information.
BizBen was contacted this past week by Cyndia Zwahlen, small business reporter for the Los Angeles Times, and Melissa Culross, news anchor for KCBS Radio in San Francisco. Their questions concerned the level of business sales and how that activity reflects the current trends in the state and national economies. In response, the reporters were told that the volume of closed business deals this year has declined significantly compared to the past, and that completed sales activity in July was particularly slow.
Cited as a key reason was the current difficulty buyers face when trying to obtain loans needed to take over a business. Also a factor is the seasonal aspect--that volume of deals traditionally drops in the summer when buyers, sellers and brokers are on vacation.
The Los Angeles Times article is accessed at
http://www.latimes.com/business/la-fi-smallbiz28-2009jul28,0,7081326.story
A podcast of the KCBS radio interview is available at
http://podcast.kcbs.com/kcbs/1874018.mp3 - about a 5 minute segment
See all contributions from Peter Siegel
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