As Victoria’s economy comes back into bloom along with the spring season, now is the ideal time to consider buying or selling a business. With Melbourne re-opening after months of lockdown, we have been flooded with inquiries from buyers who have regained their confidence and are scouring the market for new business opportunities.
Despite lockdowns, businesses are in higher demand than ever, with a 15.2% increase in business registrations this past financial year (Australian Bureau of Statistics). People who have lost their job security due to Covid-19 are using this as a chance to take their employment into their own hands by purchasing their own business. As we begin to re-open the economy and put lockdowns behind us for good, genuine buyer interest continues to mount, providing current business owners the optimal opportunity to sell.
For those of you keen on purchasing, doing so now means you will be well-prepared going into the New Year in 2022 as restrictions continue to ease and borders begin to re-open, providing much more certainty and stability for the future of businesses in Australia. With the economy bouncing-back stronger than expected, buying a business now is a reliable investment.
Though it may be tempting to wait until businesses are fully recovered from lockdown, for example after the New Year, the best strategy is to get in quick now while the market is active. If you are looking to seize this opportunity, or are simply curious for more information, give us a call at First Choice on 9899-1888 for a confidential discussion with one of our experienced brokers.