As a small business owner, have you been waiting for the economy to turnaround before selling your business? If your answer is yes, now’s the time to start planning your transition as economic conditions improve. As bank lending eases and buyer liquidity improves, you’ll want to be ready to tap into the market and take advantage of being the early bird that catches the buyer.
Buyers are Looking for Good Businesses
There are already indications that buyers are once again searching for their dream business, along with an increase in business owner’s inquiries wanting sell their businesses. In addition, the SBA has brought their lending rules back into the rational zone, which allows a greater number of potential buyers to take advantage of the eased lending environment.
Choose a Certified Business Intermediary
Another factor important to owners selling their business is availability of competent brokers. Unlike selling real estate, where density of real estate brokers and agents in major population centers is high, the density of qualified and certified business brokers across the nation are few in number. This is especially true since the banking crisis and economic impact in 2008. Consider this fact, there are only ten CBI’s (Certified Business Intermediaries) in New York State alone. Therefore, the supply and demand curve work against business owners delaying a decision to sell, since most of the qualified brokers will soon be pre-occupied once the economy finally takes off.
Worlds Largest Professional Brokerage Association
Given this state of affairs, the first question a business owner contemplating the sale of their business should ask a broker is, “are you a certified broker by the IBBA (International Business Brokers Association”. Certified IBBA Brokers have spent considerable time, effort and significant investment to ensure they meet the high standards required by their association to professionally serve business sellers and buyers alike. Very much like CPA’s (Certified Professional Accountants), a CBI has to continually sustain his/her certification with continuing education. This ensures that their clients interests are always catered to in a competent and effective manner.
Business Owners Take Action Now!
Don’t take chances, as a long time business owner with so much to lose, why use an unqualified broker to sell your business…go with an IBBA certified broker and get peace of mind.