Sales of Small California Businesses Down 34%
Dublin, CA (January 05, 2010)-- The 14,277 count of small and mid-sized businesses sold in the state last year represents a 34% decline from 21,689 sales recorded in 2008, and the total of last month’s transactions, 1,193, also shows a 34% drop when compared to the 1,804 closed escrows in December 2008. These figures come from BizBen.com-Businesses for Sale in California.
“Given the difficulty experienced by entrepreneurs wanting loans to complete their purchases, it’s not surprising that 2009 activity was disappointing,” according to Peter Siegel, MBA, CEO and founder of BizBen.com.
“Banks were chastised for lending too freely and hurting the economy, and now many have overcompensated by denying loan requests from entrepreneurs who need funding to complete their deals. And with home values shrinking, many people are losing the equity they could have used as collateral to get purchase money.”
Siegel added that “many of the would-be buyers and sellers who’ve been sitting on the sidelines waiting for the economy to improve are starting to find ways they can get involved in the market in 2010.”
A breakdown of 2009 sales by county is detailed below and available on the BizBen site at the sales stats pages.
In addition to monitoring and reporting on small business sales in the state, BizBen.com provides California’s most active and popular online marketplace for small and mid-sized companies being bought and sold, with 7000+ offerings promoted on the site and 200 additional for-sale postings daily. The site also features a number of resources, articles, news items, practical tips and a blog page, all providing valuable information, ideas and opportunities for small business owners/sellers, business buyers and the professionals serving this market.
Sales of California businesses by county in 2009 are:
- Alameda: 673
- Amador: 20
- Butte: 117
- Calaveras: 8
- Contra Costa: 363
- El Dorado: 95
- Fresno: 388
- Glenn: 7
- Humboldt: 13
- Imperial: 26
- Inyo: 2
- Kern: 333
- Kings: 9
- Lake: 2
- Lassen: 7
- Los Angeles: 3769
- Madera: 17
- Marin: 99
- Mariposa: 4
- Mendocino: 10
- Merced: 89
- Mono: 6
- Monterey: 218
- Napa: 54
- Nevada: 16
- Orange: 1336
- Placer: 133
- Plumas: 3
- Riverside: 308
- Sacramento: 511
- San Bernardino: 713
- San Diego: 1401
- San Francisco: 502
- San Joaquin: 208
- San Luis Obispo: 165
- San Mateo: 292
- Santa Barbara: 225
- Santa Clara: 718
- Santa Cruz: 101
- Shasta: 53
- Siskiyou: 4
- Solano: 140
- Sonoma: 258
- Stanislaus: 211
- Sutter: 26
- Tehama: 25
- Trinity: 5
- Tulare: 170
- Tuolumne: 25
- Ventura: 330
- Yolo: 61
- Yuba: 8
Source: BizBen.com
