2019 – A Positive Year for Small Businesses
2019 – A Positive Year for Small Businesses
(As reported by BizBuySell Insight Report)
The year turned out to be a strong year for small businesses. Valuations were up and sales were strong. That’s good news for small business owners. Small business owners’ revenues, cash flows, and economic prospects continued to be positive and increasing.
While sales transactions of small businesses were down slightly throughout the year, they bounced back in the 4th Quarter of 2019.
Let’s look at some of the highlights reported by BizBuySell.
-2019 small business sales were down slightly, 5.5%, from 2018 but still strong.
-The median business sales price in 2019, of $531,653, was up 7% from 2018.
-Median cash flow increased by 2% reaching $122,506.
-2018 recorded a record year in small business sales.
Small business owners expressed two concerns. Their first concern included increasing minimum wages and increasing tax regulations. Their second concern, although spotty and industry specific was the effect of Chinese tariffs increasing business costs.
Retail showed the highest financial growth, restaurants were strong, but manufacturing experienced significant drops.