A recent survey of business transfer specialists shows that 2013 was a banner year for small business sales, due primarily to the leading edge of the Baby Boomer generation who reached retirement age and sold their businesses. The survey was conducted by BizBuySell.com, the world’s largest online business-for-sale marketplace.
The jump for 2013 was a 68 percent increase in the number of businesses sold versus 2012. Of those businesses that were sold in 2013, about half came from Baby Boomer business owners who were retiring.
The same BizBuySell survey shows that over 80 percent of survey respondents believe even more businesses will be sold in 2014, including a number of firms currently owned by people from the Baby Boomer generation. Survey respondents attributed the spike in small business transactions basically to improving economic conditions.
“This year was certainly a big step forward for the business transaction market,” says Curtis Kroeker, group general manager at BizBuySell.com. “After several years of gradual progress, there was a sharp spike in business transactions at the end of 2012 and it carried over throughout 2013. BizBuySell’s transaction numbers increased every quarter of the year.
“Overall, transition specialists recognize the uncertainty of the economy, but still appear very confident that small business transactions will continue to rise in 2014,” Kroeker adds. “As more buyers and sellers, including Baby Boomers, continue to flood the market, all the pieces point to another strong year in the business-for-sale community.”
# # #