DUBLIN, CA, March 08, 2013 /24-7PressRelease/
-- The number of small and mid-sized businesses that sold through California's business for sale marketplace last month reached 1,241, the highest deal count for any February during the past five years, it was announced by the BizBen Index. The company said a number of the state's large counties posted a dramatic sales increase during the recently completed month compared to the same period a year ago.
"While it's encouraging to see improvement in California's business for sale
marketplace last month, we need a growth trend that shows every month recording more sales this year than in the year before," said Peter Siegel, Founder and President of BizBen.com, parent of the BizBen Index. "A lively market in business transfers is critical because so many Californians look to business ownership as a more secure path to a solid financial future, compared to working for someone else."
He added: "Hundreds of thousands of California business owners in the baby boomer generation are retiring. A robust business sales market is necessary so their retail, service, manufacturing and other companies can be transferred to a new generation of owners. That's the only way to continue the vital contribution of the small business sector to the California economy."
Several of the state's largest counties contributed to the boost in February sales activity. Los Angeles County
recorded 370 completed transactions last month, an 18.2% increase over the 313 sales that were posted the previous February. Orange County
buyers engaged in 128 deals last month, a boost of 58% compared to the 81 sales during February 2012. Riverside County buyers took over 71 businesses in the recently completed month, a substantial increase from the 44 deals completed the previous February.
Santa Clara County enjoyed one of Northern California's busiest business sales markets last month with 60 deals, well over the 25 sale total of last February. Sacramento County
recorded an increase to 43 transactions vs. 29 during the previous February.
Siegel said California's business for sale market "went off the cliff after 2008. From a total of 21,689 business transfers that year, the state's sales count has averaged 14,000 each year since. That drop of 35% means thousands of owners were unable to find a buyer, and unable to realize their plans for funding their retirement.
"We're watching a slow recovery because of the difficulty accessing the capital needed to complete deals, and the hesitancy on the part of many buyers to commit to a buy/sell agreement because they're uncertain about the near and even long-term future of the economy.
"The good news is that more and more entrepreneurs are learning how to overcome some of the difficulties that are responsible for the reduced rate of business sales."
Siegel has just released his latest ebook, "Buying a California Business in the New Economy
" which offers advice for buyers determined to find and buy a good business and wanting more information and ideas about achieving that goal.
February sales totals by California county, found at: www.bizben.com/stats/stats-monthly-feb.php
are: Alameda: 44, Butte: 7, Calaveras: 1, Contra Costa: 35, El Dorado: 9, Fresno: 26, Imperial: 2, Kern: 27, Kings: 1, Los Angeles: 370,Madera: 1, Marin: 12, Merced: 2, Monterey: 7, Nevada: 5, Orange: 128, Placer: 9, Riverside: 71, Sacramento: 43, San Bernardino: 70, San Diego: 98, San Francisco: 34, San Joaquin: 16, San Luis Obispo: 9, San Mateo: 26, Santa Barbara: 13, Santa Clara: 60, Santa Cruz: 3, Shasta: 5, Solano: 11,Sonoma: 18, Stanislaus: 18, Sutter: 1, Tehama: 2, Tulare: 15, Tuolumne: 4, Ventura: 23, Yolo: 5.
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 website features more than 8,000 California businesses for sale
and businesses wanted postings, along with offerings of new franchises for sale
and business opportunities. Since 1994 this niche online network and service has proved a valuable tool for thousands of California business buyers, small business owners/sellers, intermediaries, and advisors. The site also includes articles, resources, news and tips, and a daily blog. For the past 16 years, its BizBen Index has collected and reported on business sales statistics, by county and city, throughout the state.
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Contact: Peter Siegel
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