Current State of Business Sales - Ref: Business Sales
After some rough going in 2020 due to the effects of Covid-19, we at First Choice Business Brokers are confident and prepared as we head into the New Year. Since restrictions eased last November, our sales and enquiries have been steadily increasing for a strong finish to a tough year. In 2021, we continue our commitment to keep you informed about the current state of the market and assist you with your business needs.
• Though the continued presence of Covid-19 in Australia creates some uncertainty, the Government is now decidedly more experienced in dealing with the pandemic
• There is great potential for businesses to grow in the post-Covid economy
• With the Covid vaccine set to rollout as early as mid-February in Australia, the market should regain some confidence
• According to Any Business, business listings are down by 30% but buyer traffic has surpassed pre-Covid levels, indicating that there is a high demand for good businesses
• The current official cash rate as determined by the Reserve Bank of Australia is at a record low of 0.1%
• ANZ Bank’s research team expects housing prices to gain approximately 9.0% across Australia’s capital cities in 2021
• Under these conditions, many people in search of employment opportunities are now looking to buy a business, whether it be for a lifestyle change, or a purely financial decision
• The number of available places in the Business Innovation and Investment Program (BIIP) for those with the 188 VISA has almost doubled from 6,800 in 2019-20 to 13,500 in 2020-21, helping to stimulate the domestic market
With our continued commitment to providing leading business brokerage services, First Choice is gearing up for a busy year in 2021. Our goal to kick start the year is to increase our business listings and, as always, to assist you in achieving your business objectives, whether that be buying or selling a business. As we look forward to the future, it is our sincerest hope that you may spend this year in happiness and in health.
For all the guidance you need on your business journey, get in touch with us at First Choice Business Brokers.