Our Review for 2023 and Outlook on Business Sales in 2024
As 2023 comes to a close, we want to thank our followers for their unwavering support throughout this transformative year. Your engagement has been crucial to our journey, and we are especially grateful to those subscribed to our “Recent Listings” updates, hoping it streamlined your search and provided timely information.
Looking back, 2023 brought dynamic shifts in the business landscape, creating opportunities for both buyers and sellers. The year saw a surge in deals, contributing to a market poised for growth in the coming year.
A noteworthy trend is the growing interest in larger enterprises, with buyers seeking sustained profits built on multiple years of trading. This marks a departure from the exceptional profits observed during the COVID-19-related stimulus in 2020/21 and 2021/22.
Before the previous year, we were faced with a sluggish business sales market characterized by low demand during COVID shutdowns. However, over the past 12 months, there has been a substantial improvement in purchaser demand across various business industries. However, the number of listings have slightly decreased (Seek Commercial).
The strongest demand is for mid-sized businesses, indicating a preference for various industries with long trading histories and healthy management systems, as well as B2B operations. Additionally, there is heightened interest in businesses with profits exceeding $200,000 to the owner, emphasizing a specific focus in the market.
Looking ahead, 2024 holds promising prospects with continued strong activity, evolving strategies, and a well-positioned market for sustained growth. We are excited about embracing future opportunities and navigating upcoming changes with confidence. Cheers to a successful and prosperous 2024 for all stakeholders in our shared journey!