Sales of business in California rise in 2013; Sacramento County total dips
01/15/2014 12:26 PM
01/16/2014 9:21 AM
Dublin-based business sales tracker BizBen.com said there were 14,764 completed deals involving California small and midsize business-for-sale offerings in 2013, slightly exceeding the count of 14,368 in 2012.
BizBen said it was the best sales rate in four years, but well below a peak of nearly 22,000 in 2008, just prior to the time that California businesses felt the full impact of the recession.
“The upward trend in (2013) business sales is a positive indication for 2014, suggesting we’ll see continued expansion of California’s business-for-sale market,” said Peter Siegel, founder and president of BizBen.com. “There are a number of factors contributing to the growth, including easier access to borrowed purchase money and smarter strategies being employed by buyers of small businesses.”
BizBen noted that 2013 results were mixed in California’s large counties. For example, 4,053 businesses were sold in Los Angeles County last year, a nearly 8 percent year-over-year increase, and San Francisco County saw 582 transactions last year, up 17 percent from 582 in 2012.
In contrast, Sacramento County recorded 433 business sales in 2013, down nearly 10 percent from 481 in 2012.
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