Market update

A client asked me yesterday 'How is the market doing' and this got me thinking, how exactly is the market doing. Looking at the sales figures compared to last year, there is still an increase month on month which is obviously encouraging but have we turned the corner? The average sale price of businesses sold is 2% higher than last year, whilst this is an increase, it is not substantial enough to make any real statement. Having spoken to a number of delegates at our recent seminar with regards 'Thinking of buying a business', confidence does seem to be gathering pace. One factor that is clear at the moment, leasehold businesses are much more popular than freehold and this is a clear indication of the position with banks lending money. We are observing more and more sellers offering to retain the freehold and grant a lease thus relieving the problem of purchasers having to go 'cap in hand' to the bank for substantial finance. for more information on Ernest Wilson Business Agents, visit www.ernest-wilson.co.uk