This morning, a client asked me 'what is the business market like at the moment' - that is a hard question to answer as the market clearly is volatile. One way to measure performance is based on business sales compared to the same period last year. Well on this indication everything is fine! Business sales volume is clearly up on last year and for a number of months the increases have been significant. The sales price of businesses is also a reflection of the market and I can deduce that the average sale price is 3.4% up on last year. Whilst only marginal, this is still an increase and is going in the right direction. I have spoken to a number of associates who are Estate Agents who do not deal with business sales and they are similarly saying that sales have increased and their average sale price is likewise. Commercial Business Agents are few and far between in comparison to Residential Estate Agents although the market is connected as many clients wishing to buy a business or commercial property often have houses to sell therefore reliant upon the house market.
Financing of businesses is also a question that is often raised. Gladly, banks seem to be opening up their lending books and often, business loans or commercial mortgages can be raised within only a few weeks - often the rates are extremely competitive, bearing in mind the low base rate that is static.
If you would like to discuss the business market or are looking to buy a business or sell a business, contact me or visit our website at www.ernest-wilson.co.uk
Stuart J Moorhouse
Ernest Wilson Business Agents,
Gelderd Road,
Leeds,
LS27 7LG
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