State of the Business Sales Market 1st to 15th October

Last week was the Australian Institute of Business Brokers (AIBB) Annual Conference in Melbourne.  It was a great opportunity to mingle and network with other professional Business Brokers.  The general consensus is that the small business sales market, especially in Victoria, is tough.

Whilst it is easy to focus on the negatives,  this an opportunity to really see how creative and smart we can be.  It a time for implementing new strategies and ideas that will allow us to push through the hard times and prosper and succeed when times are good.  We (at BFBrokers) have been using this ideology and over the coming weeks you will note our continuous rebranding of our new BFBrokers website coming online soon.  This site will be far more user friendly and engaging with our clients, and help try and push us ahead of the game.

On the enquiry front, it is with disappointment that again I must report that the enquiry level has slowed again in the past fortnight.  Very disappointing given the great start we had in September and the positive signs that the trend would continue.  I believe recent school holidays would have had some impact on this as most of our buyers do have a family with children.  The recent interest rate cut is positive however it will take time to filter through the economy.  On a positive note, whilst the enquiries have been down many of these enquiries were far more genuine and thus the past few weeks we have experienced the highest number of offers on businesses for 2012.