Dublin, CA (November 12, 2013) - A total of 120 small and mid-sized Orange County business for sale offerings were sold last month, a decline of about 28.6% from the 168 sale count recorded in October last year, it was announced by the BizBen Index. The county's slower business sales figure reflected a drop in the October deal count for California, which posted 1,143 completed transactions last month compared to 1,395 in October 2012.
"Last month's dip in sales is largely a result of the Federal Government shutdown in the first half of October, said Peter Siegel, MBA, Founder and President of BizBen.com, parent company of the BizBen Index. "I know some buyers got nervous about whether the economy was going to slip back into recession, and didn't remove their contingencies so they could complete their deals. And when the SBA had to cease doing business for the duration of the shutdown, a number of buyers weren’t able to get the SBA-guaranteed loans they needed to fund their transactions."
Anaheim posted 18 sales of businesses during the month. There were ten business transfers each in the cities of Huntington Beach, Irvine and Santa Ana. Other active Orange County markets were the cities of Garden Grove, Newport and Orange, with nine transactions each during the month.
The count of businesses sold in Orange County so far this year, by city, available at: http://www.bizben.com/stats/orange-county.php is as follows:
Anaheim: 153, Brea: 23, Buena Park: 44, Costa Mesa: 66, Dana Point: 13, Fullerton: 68, Garden Grove: 90, Huntington Beach: 104, Irvine: 98, La Habra: 41, Laguna Beach: 26, Lake Forest: 29, Mission Viejo: 25, Newport Beach: 47, Orange: 67, Placentia: 6, San Clemente: 41, Santa Ana: 88, Tustin: 38, Westminster: 39, Aliso Viejo: 5, Balboa: 1, Cypress: 16, Fountain Valley: 25, La Palma: 8, Laguna Hills: 12, Laguna Niguel: 22, Stanton: 25, Yorba Linda: 11, Foothill Ranch: 2, Rancho Santa Margarita: 13, San Juan Capistrano: 10, Ladera Ranch: 7, Los Alamitos: 4, Trabuco Canyon: 9, Midway City: 1, Corona Del Mar: 6, Seal Beach: 7, Coto De Caza: 2, Laguna Woods: 4, Villa Park: 1
"The October slowdown in business sales in California interrupted the momentum the market was developing over the past few months," said Siegel. "SBA loan programs, such as the 7(a) program are gaining wider use by Californians buying small and mid-sized businesses. The Government shutdown not only caused some buyers to hesitate to move forward on their deals, it also resulted in a backlog of work to be done by the SBA before the loan volume it supports returns to pre-shutdown levels."
October sales totals by California County, found at BizBen Index October Sales are as follows:
Alameda: 35, Butte: 4, Contra Costa: 17, El Dorado: 4, Fresno: 26, Humboldt: 1, Imperial: 5, Inyo: 3, Kern: 31, Los Angeles: 318, Marin: 1, Mariposa: 1, Mendocino: 1, Merced: 3, Monterey: 11, Napa: 3, Orange: 120, Placer: 9, Plumas: 1, Riverside: 52, Sacramento: 37, San Bernardino: 48, San Diego: 109, San Francisco: 43, San Joaquin: 27, San Luis Obispo: 3, San Mateo: 21, Santa Barbara: 16, Santa Clara: 61, Santa Cruz: 12, Shasta: 2, Solano: 6,Sonoma: 23, Stanislaus: 20, Sutter: 3, Tehama: 1, Trinity: 1, Tulare: 14, Tuolumne: 5, Ventura: 32, Yolo: 7
Sales statistics by city and county throughout the state for the past ten years are accessed at: http://www.bizben.com/stats/stats-total.php.
The BizBen 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. BizBen.com is California’s open cloud networking platform and resource for business buyers, owners-sellers and the professionals who serve them.
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For More Information:
Contact: Peter Siegel
Phone: 866-270-6278 or 925-548-1892