DUBLIN, CA, January 11, 2013 /24-7PressRelease/
-- A total of 14,368 small and mid sized businesses were sold in California last year, the highest annual total since 2008, according to the BizBen Index which tracks transactions involving the sale of small businesses throughout the state. The company also reported that last month's sales tally, at 1,322 completed deals, marked the most active December in four years.
"We're seeing the same kind of slow recovery in the sale of California businesses
that we're observing throughout the economy," said Peter Siegel, MBA, Founder and President of BizBen.com, parent of the BizBen Index.
"Two trends account for much of the improved activity in the state's recent business for sale
market. One is that some conventional and SBA-backed business lenders are starting to become active in the business for sale marketplace. The second is that many buyers and sellers are using more innovative strategies to complete their transactions.
"Even with the encouraging figures in California's business sales, we don't expect the market to perform as well as it did before the recession--at least not for the next several years."
Siegel said the state's largest counties turned in mixed results for 2012:
- Los Angeles County recorded a slight decline in the sale of businesses last year, with 3,758 deals, compared to the 2011 total of 3,763. Last month's count of transactions was down 7.7% to 297, from the 322 total recorded in December 2011.
- Orange County recorded its best annual sales count in four years with 1,534 business transfers in 2011. Additionally, with 171 business sales last month, the county turned in its highest December total since 2008.
- San Diego County reported 1,225 completed deals for the year, beating the 1,206 total posted in 2011. However, the 100 sales finalized last month represent a decline from the 111 count registered during December the previous year.
- Santa Clara County recorded 732 deals for 2012, the lowest count in three years, but finished the year with a total of 66 sales in December, a small improvement compared to the 61 transactions posted in December 2011.
- San Francisco posted a total of 497 small business deals last year, down 21% from the 629 transactions completed the previous year. Last month's tally was 51 small business sales, two short of the total for December 2011.
- Sacramento County reported that 481 business transfers closed last year, up from 452 deals in 2011. And 49 sales were posted last month, 25% ahead of the total of 39 for December 2011.
Siegel said long term prospect for the state's small and middle market business sales volume is "extremely positive because we're seeing more businesses come on the market as owners in the baby boomer generation begin to retire. We also are experiencing an increase in demand as more Californian's plan to leave the job market and become small business owners by purchasing an existing enterprise. "
Siegel said a small business is 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.
For More Information
Contact: Peter Siegel
Phone: 866-270-6278 or 925-548-1892
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