The shape of the economy changed for the better over the past year. The current administration reduced regulations on small businesses, unemployment dropped below four percent, and banks opened their checkbooks further as a result of strong economic confidence. If you are looking to sell or buy a business, 2019 might be one of the best years in recent history to do so!
A Changing Landscape
Since the implementation of federal tax cuts and spending increases in early 2018, US economic growth has seen a positive uptick. Furthermore, consumer spending trends increased as well. This is good news for both business owners and buyers.
This economic confidence makes it easier for small businesses to get a loan approved at a low interest rate. The reports coming out of 2018 show that small business approval marks and interest rates for loan applications match those previous to the recession. In November alone, lenders approved over half of all small business loan requests.
Impact on Buyers and Sellers
This is good news for you, regardless of which side of the business sale you are on. If you want to sell, increased financing opportunities means more qualified buyers for your business.
Do you want to buy a business? Banks are less strict about who they lend to, so you’re more likely to have your loan request approved this year than previous years. Plus, advanced data analytics play a big role in helping reduce lender risk. As a result, default rates on business loans are lower. Do you want to secure a business loan? The CBI TEAM’s Loans 4 Business Program has 99% success rate!
Take the First Step
Whether you want to buy or sell, the new year presents a fresh start to take action. Contact CBI TEAM to speak with one of our professional business intermediaries today. Our consultation gives you free, no-obligation introduction to the selling process. 2019 is your year, and we can make your business goals a reality.