The market place has seen a rather cautious business sales platform since early in 2017, with many sellers waiting on the market before taking that step. People who, in principle would like to sell, but due to the state of the ‘market’ are waiting, but, what are they waiting for…
Business owners have been coming up with all sorts of reasons (or excuses, depending on which way you view it) which may include the current state of the economy, both national and global, and of course the never ending Brexit situation.
Whatever the reason, it is simply a way of deferring the inevitable decision of making a change to their life, and possibly to others around them. It’s seemingly easier to defer the matter than to make a decision which they do not necessarily have to act on. This may be somewhat understandable, but to simply defer making a decision to sell may in time prove to have been entirely the wrong course of action
There are many business owners who are near to retirement, some have even past that stage in their life and others who may be suffering from ill-health, whereby a change to their life would be extremely beneficial; they would gain their time back that is currently used for their business, should they decide to sell.
But what if …
Some business owners wonder “what if I sell and it all goes wrong”, “what if I don’t sell and I miss the boat”; one will never know until one tries and as prophets may say; “If you don’t make a change it will always remain the same”
These notes have been written because there is currently good demand for quality businesses, but unfortunately, there are very few available, especially in certain sectors. This situation of course serves only to improve the prospects for serious sellers, both in terms of timescale and the prices achieved.
And, for those business owners who are currently delaying offering their businesses for sale, until such as a significant improvement occurs in the economy and clarity as far as Brexit is concerned, there is still a long way to go.
Moreover, for those who want to sell in order to retire or for health reasons etc. and would like to be free from work and improve the quality of their lives, a deferment obviously runs to counter to such underlying desires.
However, the main cause for concern among these business owners should be the potential danger that when they eventually deem that circumstances have improved sufficiently to encourage them to make their move, this could produce a situation whereby a lot of businesses will be offered for sale, at the same time.
Consequently, supply could well outstrip demand at that time and may well result in lower prices and possibly even from a sale. The ‘market’ is always governed by the most basic principle being supply and demand.
This blog has been written by Lyn Milligan of BusinessXchange. For help and advice on the potential benefit to selling your business, Lyn is happy to offer a no obligation discussion and/or free valuation. Simply email firstname.lastname@example.org or ring 0330 043 4351.