by Ray Hayes
Are you looking to sell your business? If you are, you may want to look for buyers under the age of 50. I know you may be wondering why I am suggesting you look for buyers around that age, but, according to the 2018 Small Business Owner & Buyer Demographics study by BizBuySell, 53 percent of small business buyers are under the age of 50. The largest buying block however, is a tad bit older, with 32% of purchases falling between the ages of 50 and 59 years old.
Nonetheless, reports show that small business owners are getting younger and small businesses are consistently changing hands. In 2017, BizBuySell reported that nearly 10,000 small businesses changed ownership across the US and that was a, “…27 percent year-over-year increase.”
BizBuySell has also reported that if you are interested in selling your small business the time is now. Deals are closing much faster and sales prices are at historical highs.
Bob House, president of BizBuySell.com and BizQuest.com, spoke about the recent survey and latest data. “Both buyers and sellers are in a really good position right now. With healthy financials, owners are able to secure a great return, while buyers are taking ownership of valuable businesses. Whether you’re a business owner looking to sell or an entrepreneur searching for a new venture, the window is open to take advantage of the strong market.”