Demand for Local Businesses
May 2023 -
Business buyers will be relieved to learn there is much more activity from sellers who are now coming to the market.
Predominantly the months of May and June are quiet for new listings; however, this is not the case in 2023.
This is highly likely due to business owners who have held off to see if market conditions would deteriorate through Covid, interest rate increases and the rising costs of living.
It’s clear that these scenarios haven’t scared buyers away - if anything our enquiry levels are higher despite less opportunities on the market.
So, why do we have so much demand for local businesses?
· Migration to the Coast
· Buyers need more income that the average wage
· Business ownership offers numerous benefits and perks
· Locals want the freedom and flexibility that comes with owning a business
· Limited supply of opportunities on the market
These factors have kept us at the top of the cycle, which favours the sellers.
Business owners contemplating retirement or a change in direction should capitalise on these conditions and call us today for an obligation free appraisal…you may be pleasantly surprised what we can achieve for you.