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The BizBen Index announced this week that the number of small and mid-sized businesses sold through California’s business for sale marketplace last month reached 1,241, the highest deal count for any February during the past five years. The company said a number of the state’s large counties posted a dramatic sales increase during the recently completed month compared to February 2012. Los Angeles County recorded 370 completed transactions last month, an 18.2% increase over the 313 sales that were posted the previous February. Orange County buyers engaged in 128 deals last month, an increase of 58% compared to the 81 sales during February 2012. Riverside County buyers took over 71 businesses as compared to the 44 deals completed the previous February. Santa Clara County enjoyed one of Northern California’s busiest business sales markets last month with 60 deals, more than doubling the 25 sale total of last February. Sacramento County recorded an increase to 43 transactions as compared with 29 during the previous February. “While it’s encouraging to see improvement in California’s business for sale marketplace last month, we need a growth trend that shows every month recording more sales this year than in the year before,” said Peter Siegel, Founder and President of BizBen.com. “A lively market in business transfers is critical because so many Californians look to business ownership as a more secure path to a solid financial future, compared to working for someone else.” According to Siegel, California’s business for sale market went off the cliff after 2008, from a total of 21,689 transfers that year, to an average sales count of 14,000 each year since. “We’re watching a slow recovery because of the difficulty accessing the capital needed to complete deals, and the hesitancy on the part of many buyers to commit to a buy/sell agreement because they’re uncertain about the near and even long-term future of the economy,” said Siegel. “The good news is that more and more entrepreneurs are learning how to overcome some of the difficulties that are responsible for the reduced rate of business sales.” For more info, click here
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