Existing Business Resources
More small businesses were sold in 2010 than in 2009, but few reached a premium price, according to a report released by website BizBuySell. However, this business-for-sale trend is expected to continue into 2011.
The average price of a business fell from its 2009 average of $160,000 to $150,000 in 2010. This figure represents a 6.3 percent decrease in the marketplace, according to the report.
"In 2010, we saw more deals getting done," said Mike Handelsman, group general manager of BizBuySell.com.
"One of the key drivers for that growth was that business sellers were more realistic about their business valuations," he added.
Most of the sales seen were of retail shops, restaurants and service businesses. Manufacturing did not see sales as high as other sectors, however, due to their higher selling prices.
With banks becoming more lenient in lending, the market can expect to see a moderate increase in sales during 2011. However, until credit becomes more widely available, we can owners should expect to see only moderate recovery, explained Handelsman.
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