December 12, 2015
As we all know, history tends to repeat itself. Back in 2008 when the economy drastically shifted gears and the U.S. entered a deep recession, the sale of businesses quickly ceased. During 2008 and 2010, around 170,000 companies went out of business. That was over six and a half years ago. This is concerning considering the average time between recessions since 1929: four years and two months. However, not is all grim. The economy today continues to show strength and is favoring sellers in the business-sale market.
Considering the likelihood of a recession occurring within the next couple of years, it is very important for business owners to develop an exit plan. Find out the value of your business, continue to drive profits, contact a business broker to discuss the chance of putting your business up for sale. Keeping in mind that it typically takes close to a year to sell a business, it’s important to become informed on the process of selling your business.