For Immediate Release
22% Increase In California Business For Sale Transactions Says BizBen Index
Dublin, CA (September 9, 2013) – The count of 1,137 completed business for sale deals throughout California last month shows improvement of nearly 22% over the 932 transactions recorded the same month last year. Sales statistics, reported by the BizBen Index also announced year-to-date business transfers in the state inched up to 9,830 from the 9,397 deals posted the first eight months of 2012.
"We're definitely watching California’s business for sale marketplace improving in activity from the sharp slowdown experienced during the worst of the recession,” according to Peter Siegel, MBA, Founder and President of BizBen.com, parent of the BizBen Index. “But that growth certainly is not setting any records.”
He noted that sales through August of 2008 reached 15,155. "Then the bottom dropped out. The banks we bailed out were reluctant to lend to customers who needed cash to complete a deal on a small or mid-sized business. And many people were hesitant to make career changes-either to sell or to buy-during what was considered an uncertain economy.
"We are starting to find money available for some investors interested in buying a retail store, food service, manufacturing company or other type of small business. But those who are getting the loans and who are successful in buying businesses, are working harder as well as smarter than their friends who are not succeeding with the deals they want."
Some 327 companies changed hands in Los Angeles last month, compared to 274 deals that successfully closed during August 2012. Other large markets in the state that showed a rise in sales were Orange County, 119 vs. 90 in August 2012, San Diego County with a total 116 sales last month compared to 79 for the previous August, and San Francisco, which registered 40 deals in August 2013, up by two-thirds over the 24 completed sales during August last year.
Large counties with sales declines last month compared to the previous August were Sacramento County, from 44 to 30 deals last month, and Santa Clara County, from 58 to 55 transactions.
"Recovery in California's business-for-sale market is not happening quickly, and is not consistent," said Siegel. "Last month’s sales figures were down compared to the transaction rate in July, when 1,327 businesses were transferred.
"Many of the people who are achieving their buying and selling objectives in this economic environment are implementing innovative ways to succeed at raising money, negotiating agreements and solving escrow problems so they can complete their deals as planned. A number of their successful strategies are discussed in my newly-released ebooks: Buying a California Business in the New Economy, and Selling a California Business in the New Economy.
August 2013 sales by county, found at: http://www.bizben.com/stats/stats-monthly-aug.php are as follows:
Alameda: 45, Amador: 1, Butte: 4, Calaveras: 3, Contra Costa: 12, El Dorado: 6, Fresno: 27, Imperial: 1, Inyo: 1, Kern: 32, Kings: 1, Lake: 2, Los Angeles: 327, Mendocino: 4, Mono: 1, Monterey: 17, Napa: 10, Nevada: 1, Orange: 119, Philadelphia: 1, Placer: 9, Riverside: 63, Sacramento: 30, San Bernardino: 51, San Diego: 116, San Francisco: 40, San Joaquin: 15, San Luis Obispo: 6, San Mateo: 13, Santa Barbara: 8, Santa Clara: 55, Santa Cruz: 4, Shasta: 4, Solano: 21, Sonoma: 27, Stanislaus: 12, Sutter: 6, Tulare: 8, Tuolumne: 4, Ventura: 17, Yolo: 6, Yuba: 2
Sales statistics by city and county throughout the state for the past four years are accessed at http://www.bizben.com/stats/stats-total.php.
The BizBen.com Index has been collecting and reporting information about small California business sales for 16 years, to help business owners/sellers, buyers and the professionals participating in this market make informed choices and achieve success.
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Contact: Peter Siegel
Phone: 866-270-6278 or 925-548-1892
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