Since March when I last wrote an update, the question I am often asked is, has the business sales environment really kicked on?
The answer is yes. Market sentiment and confidence continues to improve and South Australia has enjoyed a sharp upswing from people returning ‘home’, and why wouldn’t they, SA is a terrific state and opportunities abound and we are back living almost as normal!
Bill Evans, Chief Economist at Westpac, spoke recently about the money being spent in Australia versus overseas, leading to certain business sectors performing very well, high end tourism, motor vehicles and accessories, lifestyle/leisure and high end retail.
As we hear every day, the housing market is booming, driven by many returning expats. This is also leading to an increase in buyer enquiry, including those seeking to migrate here when that kicks back in.
With Dale Wood having recently achieved sales contracts across several businesses with a further 3 under negotiation/due diligence this positive activity is clearly apparent and is across several sectors including tourism, retail food and wholesale trade.
We continue to talk with qualified buyers keen to buy profitable businesses in the $500,0000 to $5M price bracket. Whilst obtaining finance can be a challenge, the bigger challenge is the time it is taking for loans to be finalised by various banks, leading to frustration to both buyer and seller, patience (and resilience) remains important!
One of our service streams is undertaking market appraisals for clients, who may not have an intention to sell in the short term, they are forward planning and keen to understand the market.
Why not begin your journey, for a confidential discussion please contact Kent Aughey, Emily Troon or Steve Foreman on 08 8334 0600 or firstname.lastname@example.org.