DUBLIN, CA, January 17, 2013 /24-7PressRelease/
-- The total of 360 completed deals represents a 17.3% increase in the number of small and mid-sized businesses sold in Contra Costa County last year, compared to the 307 transactions closed in 2011, according to figures announced by the BizBen Index in its monthly California business-for-sale transactions report.
"It's encouraging to see growth in the number of deals successfully closed in Contra Costa County last year," said Peter Siegel, MBA, Founder and President of BizBen.com, parent of the BizBen Index. "It suggests that buyers and sellers working in the county are learning to address some of the challenges that have plagued the business-for-sale marketplace in California since the recession."
Siegel said the total number of transactions for California last year was 14,368, an improvement over the 13,948 total in 2011. "People throughout the state are using smarter strategies to successfully close their deals. But we still have a lot of ground to cover in order to return to the sales levels we enjoyed before the problems brought on by the mortgage and banking crises and the slowdown in the economy." He noted that a total of 21,689 small and mid-sized California businesses were sold in 2008. "That's about 50% ahead of the count of business transfers we saw last year."
Contra Costa County recorded 31 business sales last month, including six each in Concord and Walnut Creek and four in Martinez. Other busy markets were Danville, Lafayette and Richmond, which each posted three business sales. The BizBen Index report on last year's transactions in Contra Costa County, by city, (found at http://www.bizben.com/stats/contra-costa-county.php) shows these figures:
Antioch: 20, Brentwood: 20, Concord: 72, Martinez: 25, Pinole: 5, Richmond: 34, San Ramon: 29, Walnut Creek: 43, Bethel Island: 1, Danville: 23, El Cerrito: 11, Bay Point: 3, Boy Point: 1, Hercules: 4, Pleasant Hill: 14, San Pablo: 11, Vallejo: 1, Lafayette: 7, Pittsburg: 9, Moraga: 4, El Sobrante: 9, Moraga City: 1, Orinda: 7, Crockett: 4, Port Costa: 1, Clayton: 1.
"Two of the biggest challenges entrepreneurs still face in the business-for-sale marketplace are the widespread mood of uncertainty--like a grey cloud hanging over California's market, and the difficulties getting access to business purchase loans that are needed to help fund transactions. While some banks and other financial institutions are starting to serve the market, too many entrepreneurs still are stumbling on the financing step as they try to reach their goals of a completed escrow," said Siegel.
The rate of small business sales is an important indicator of the state's economic health, according to Siegel. "If small businesses are to grow and provide more jobs, they need to be transferred to new, and often more motivated ownership when the current owner is ready to retire or undertake some other enterprise." He defines a small business as a company that sells for $2 million or less.
The California business sales totals for December 2012 by county are noted below and available at http://www.bizben.com/stats/stats-monthly-dec.php.
Alameda: 50, Amador: 3, Butte: 1, Calaveras: 3, Contra Costa: 31, El Dorado: 3, Fresno: 36, Imperial: 2, Kern: 27, Kings: 1, Los Angeles: 297, Marin: 8, Merced: 7, Monterey: 16, Napa: 1, Nevada: 3, Orange: 171, Placer: 10, Riverside: 87, Sacramento: 49, San Bernardino: 81, San Diego: 100, San Francisco: 49, San Joaquin: 8, San Luis Obispo: 14, San Mateo: 31, Santa Barbara: 22, Santa Clara: 66, Santa Cruz: 10, Shasta: 9, Solano: 10, Sonoma: 29, Stanislaus: 23, Sutter: 4, Tehama: 1, Tulare: 20, Ventura: 30; Yolo: 8
The BizBen Index figures, showing the sales rates 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 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 15 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
BizBen.com is available via Twitter: https://twitter.com/BizBenListings
BizBen.com is a clearinghouse of thousands of small businesses for sale in California. Over 200 new business for sale listings are added daily. The site also features articles, daily blog postings, educational events, directories of resources, brokers, agents, and advisors. For further information, please contact Peter Siegel at BizBen - 866-270-6278. Visit our site at http://www.BizBen.com---
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