DUBLIN, CA - 01/19/2017 (PRESS RELEASE JET)
California business for sale transactions set their highest yearly total in 8 years. The number of business for sale transactions in December was 1,397 which brought the total number of transactions for 2016 up to 16,858 it was reported by the BizBen Index. The number of transactions completed this year represents the highest total of transactions in eight years. Not since 2008, the first year of the Great Recession, has there been so many business for sale deals completed. That year there were 21,689 transactions completed. Last year there were 15,660 transactions completed.
"The number of successful business for sale transactions that have taken place this year is confirmation that the economy is improving both here in California and nationwide’ said Peter Siegel, MBA, Founder and President of BizBen.com, parent of the BizBen Index.
Siegel explained, "While the numbers still haven't reached pre-recession” levels, the growth we have seen over the last eight years is remarkable. Frankly, we may never see numbers like we did in 2008, and previously, due to the fact that lenders have changed their practices since that time. But, I think we can all agree that the environment surrounding business for sale transactions has improved dramatically.”
Other reasons for the improved sales rate, according to Siegel, are easier access to business purchase loans from both SBA-backed and non-SBA lenders, as well as low-interest rates which make borrowing money cheap.
Siegel also noted, “2017 may be a different story as the Fed has said they intend to raise rates twice this year. If that ends up being the case we will have to wait and see how that affects things in the coming year.”
Larger Counties With Improved Sales
Among large California Counties reporting growth in the sale of small and mid-market businesses last month are San Deigo County with 121 transactions, Orange County posting 113 completed business transfers last month and San Bernardino County with a rate of sales increase of 7% from 86 sales last month.
The total business sales by county recorded last month, available athttp://www.bizben.com/stats/stats-monthly-dec.php are:
Alameda: 75, Butte: 10, Contra Costa: 19, El Dorado: 9, Fresno: 48,Humboldt: 2, Imperial: 2, Kern: 39, Lassen: 1, Los Angeles: 368, Marin: 20,Mariposa: 1, Merced: 8, Monterey: 15, Napa: 5, Nevada: 5, Orange: 113, Placer: 18, Plumas: 1, Riverside: 76, Sacramento: 25, San Bernardino: 86, San Diego: 121, San Francisco:21, San Joaquin: 19, San Luis Obispo: 15, San Mateo: 40, Santa Barbara: 18, Santa Clara: 69, Santa Cruz: 14, Shasta: 4, Solano: 7, Sonoma: 31, Stanislaus: 12, Sutter: 3, Tulare: 13, Tuolumne: 3, Ventura: 40, Yolo: 15
Sales totals posted by California county over the last nine years are available at: http://www.bizben.com/stats/stats-total.php
The BizBen Index has been collecting and reporting information about small California business sales for 17 years, to help business owners/sellers, buyers and the professionals participating in this market make informed choices and achieve success. Sources for the information come from California's Secretary of State office and other government agencies.
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