YouTube link – https://youtu.be/WksTDIBnHsM. Today I would like to talk about the recent study that was conducted by bizbuysell.com regarding the 2021 market outlook.
After a historically challenging 2020, there is reason for optimism in the months ahead. As more Americans are vaccinated and the pandemic footprint decreases, more businesses will regain customers and their value and allow owners to move forward with exit plans.
“Many owners felt that 2020 was the wrong time to sell due to the pandemic. What resulted was a disproportionate level of buyers compared to sellers. It feels like more sellers will feel comfortable selling in 2021,” said Baas. “Plus, Baby Boomers will only continue to retire and sell.
“I think there will be more sellers for three reasons. Baby boomers are aging out; COVID fatigue and the uncertainty; a new administration that has signaled higher taxes are on the way. This could provide a lot of incentive for owners to sell,” said Spangler.
Politics and how successful the new administration will be at controlling the pandemic will also play a key role in the small business recovery.
If your business is doing well, get your financial records in order. Talk with a broker. Pull together the other information about your business & property that will be needed sell your business. This will be a great year to sell.