For Immediate Release
California’s Business For Sale Transfers Increased Last Month Says BizBen.com Index
Dublin, CA (October 2, 2013) - A total of 1,336 completed business for sale transactions in California last month marked an 8.4% increase over the 1,232 sales recorded the same month last year, it was reported by the BizBen.com Index. The company also said the year-to-date total of 11,166 deals for small and mid-sized California businesses represents the highest level of business transfers for the first three quarters in any of the last five years.
"The growth in the sale rate of small and mid-sized businesses in the state is partially the result of easier access to the money buyers often need to complete their deals," said Peter Siegel, MBA, Founder and President of BizBen.com, parent of the BizBen Index. "Since the banking crisis and the recession that followed, we’ve seen a dramatic drop in the number of businesses sold throughout the state. We're now in a gradual recovery."
Siegel said, "as hopeful business buyers see an increase in their home equity, they gain more confidence in the economy and usually have increased equity to use when borrowing the cash needed to close an escrow or to fund working capital."
Los Angeles County was the only one of California’s largest counties to show a decline in September to September sales, with a total count of 339 deals completed last month, compared to 366 in the same month last year. Increases were recorded in Orange County, at 142 sales, a 7.5% increase over the 132 total recorded last September; San Diego County, showing an increase of about 20% with 125 transactions vs. 104 in September, 2012. Santa Clara County’s 49 sales last month matched the number posted last September. Sixty Alameda County businesses changed hands during the month, up from 51 deals; San Joaquin County registered a 57% increase to 22 from 14 completed transactions.
Siegel noted that last month's sales total represents the highest September tally since 2008. "California's monthly count of business sales is an important health indicator for the small business part of our economy. Many of the sellers are baby boomers ready to turn the company over to someone who can bring new energy and fresh ideas to the business. That’s the way the small business segment can keep growing and contributing to the economy through goods and services sold and jobs provided".
September 2013 sales by county, found at: http://www.bizben.com/stats/stats-monthly-sep.php are as follows:
Alameda: 60, Amador: 1, Butte: 6, Calaveras: 4, Contra Costa: 31, El Dorado: 2, Fresno: 32, Humboldt: 1, Kern: 36, Lake: 1, Los Angeles: 339, Marin: 3, Merced: 6, Monterey: 15, Napa: 8, Nevada: 1, Orange: 142, Placer: 6, Riverside: 84, Sacramento: 31, San Bernardino: 71, San Diego: 125, San Francisco: 48, San Joaquin: 22, San Luis Obispo: 18, San Mateo: 32, Santa Barbara: 23, Santa Clara: 49, Santa Cruz: 8, Shasta: 4, Solano: 15, Sonoma: 27, Stanislaus: 19, Sutter: 8, Tulare: 8, Ventura: 35, Yolo: 10, 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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For More Information
Contact: Peter Siegel
Phone: 866-270-6278 or 925-548-1892
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