BizBen Index Announces Increase in California Small Businesses Sold in October

    DUBLIN, CA, November 13, 2012 /24-7PressRelease/ -- The number of small and mid-sized California businesses sold last month increased by 6.7% over the deal count during the same month last year, it was announced by the BizBen Index. The company said 1,395 small firms changed hands in the state, compared to 1,307 deals completed during October 2011.

"It's the second month in a row that we've experienced an increase compared to the same month last year," said Peter Siegel, MBA, Founder and President of BizBen.com, a California business for sale website that is the parent of the BizBen Index. "But we still have a long way to go before this market recovers."

Siegel said there have been 12,024 closed escrows involving California's small and mid-market businesses so far this year. "That's compared to 18,665 deals that were completed at this point in 2008--a difference of 36%. Then the market went down hill."

The BizBen Index tally shows the state's largest counties with mixed results for October. Some 283 businesses changed hands in Los Angeles County last month, a 23% decline from the 368 deals closed during October of last year. But the rate of small business sales in Orange County was up over 27% from the 132 total in October 2011 to 168 during the just completed month. Also recording improved sales activity from last October were large Southern California counties of San Bernardino (up 44% to 72 deals) and San Diego (up 26.5% to 129).

Northern California Counties also turned in mixed results. There was substantial growth in Alameda County, with a 41% increase to 72 sales. Contra Costa County recorded sales growth of almost 43% with 40 completed deals. Meanwhile, Santa Clara County registered a decline of 6.25% to 75 completed sales last month and Sacramento County posted 34 transactions last month, down 15% from the October 2011 results. A total of 49 San Francisco businesses changed hands last month, the same count as in October of last year.

"Some buyers, owners/sellers and professionals who work in this market are waiting for things to return to what they call 'normal.' Others are fearful that a lower level of sales activity will be with us for a long time," said Siegel. "The worries are that we will continue to find it challenging to get funding needed for business purchases, and that the mood of uncertainty about the future will keep discouraging people from making decisions.

"What we need to realize is that the underlying forces--both demand and supply--are in place for a sizable boom in sales activity. But many buyers, sellers and their advisors don't understand we now are working in a New Economy. That means California entrepreneurs able to adapt to new realities in the marketplace with fresh strategies, will be the winners of the future when it comes to buying and selling small and mid-market California businesses."

California's October sales numbers by county, found at http://www.bizben.com/stats/stats-monthly-oct.php are as follows:

Alameda: 72, Amador: 7, Baldwin: 4, Calaveras: 7, Caribou: 1, Contra Costa: 40, El Dorado: 11, Fresno: 47, Imperial: 1, Kern: 51, Lake: 1, Los Angeles: 283, Madera: 2, Marin: 1, Mendocino: 1, Merced: 4, Monterey: 9, Nevada: 1, Orange: 168, Placer: 5, Riverside: 59, Sacramento: 34, San Bernardino: 72, San Diego: 129, San Francisco: 49, San Joaquin: 38, San Luis Obispo: 14, San Mateo: 18, Santa Barbara: 11, Santa Clara: 75, Santa Cruz: 22, Shasta: 7, Solano: 12, Sonoma: 18, Stanislaus: 27, Tehama: 3, Tulare: 28, Tuolumne: 3, Ventura: 34, Yolo: 10

The BizBen Index figures, showing the sales rates by city and county throughout the state for the past five years are accessed at http://www.bizben.com/stats/stats-total.php

BizBen.com features more than 8,000 California businesses for sale and businesses wanted postings, along with offerings of new franchises and California business opportunities for sale. Since 1994 this niche online network and service has proved a valuable tool for thousands of California business buyers, small business owners/sellers, intermediaries, and advisors. The site also includes articles, resources, news and tips, and a daily blog. For the past 15 years, its BizBen Index has collected and reported on business sales statistics, by county and city, throughout the state.

BizBen.com is available via Twitter (@bizbenlistings), FaceBook http://www.facebook.com/pages/BizBen/92902823120 LinkedIn http://www.linkedin.com/company/2713011 and Google+ https://plus.google.com/u/0/100161368836680919929/posts

BizBen.com consists of available and wanted California businesses for sale, commercial real estate, commercial leasing, new franchises, franchise resales, and new business opportunities.

Website: www.bizben.com

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