Small business ownership has always been a haven for individuals seeking independence in times of uncertainty. Last year, COVID -19 presented a wakeup call for American workers who faced job loss or stay-at-home downtime to assess their future. As lockdowns began last March, US unemployment rose to over 20%. Restaurants were hardest hit; over 40% […]
According to the latest BizBuySell Insights report, small business sales activity was strong as buyers continue to flock to high performing businesses causing median sale prices to jump 30% compared to Q1 of 2020, according to BizBuySell’s Insight Report. “Essential businesses” including liquor stores, convenience stores, gas stations, construction services and home improvement businesses, e-commerce […]
So, are you thinking of selling your business in 2021? It seems like this is a trend very much worth considering. And that makes sense to me. Why? I can think of four really good reasons. Supply vs Demand. Every day 10,000 Baby Boomers turn 65 and more than 30% own a business. By 2040 […]
A buyer with 100% cash is rare. Some sort of financing will most always be needed to close the deal. There are various options for financing covered below with the understanding that a buyer’s qualification is the key element. The ability to finance a buyer purchase is often the “make or break” point to closing. […]
Access to capital is one of the greatest challenges to small businesses. We’ve broken down the six types of SBA loans, as well as other forms of business funding to help you determine the best SBA loan type for your specific needs. SBA 7(a) Loan The SBA 7(a) loan is the most common and multipurpose […]
SBA loans can be a great way to finance a small business acquisition. Like most government programs, SBA loan programs have plenty of rules. In this post, I’ve summarized the highlights of the rules for SBA 7(a) business acquisition loans. Some of the text below is taken directly from the government sources but not set […]
Small business owners will remember 2020 as one of the most traumatic periods of their life. As the realization of the impact COVID 19 would have on family, business and community began to sink in, business owners who adapted quickly to conserve cash, modify operations, and find customers in new channels survived, many did not. […]