It's a Buyer's Market

A report recently published by the International Business Brokers Association, found that 61 percent of the survey participants (business brokers) believe that more businesses will go up for sale in 2009, while 66 percent indicate say they will sell more businesses this year compared to 2008. Several trade magazines (Inc., Entrepreneur, the Wall Street Journal) indicate seller’s market historically existed, but a as baby boomers retire the buyer’s market would gradually appear over the next decade overtaking the seller’s foothold. The prevailing economic conditions have accelerated the predominance of the buyer’s market…welcome to 2009.

So now what? If you are thinking about selling your business, make it more attractive. Buyers are more selective today because they can. Therefore, improve cash flow as best you can, keep books and records updated, spend more time on the value and pricing of the business. You will be competing for the attention of many buyers. Don’t sell your business short because of not taking care of the basics.