February 21st, 2012
The economy is on an upswing and after a few years of losses, many small businesses are coming back strong. Is it a good time to sell your company, or even buy another one? The answer is a resounding YES.
There is more cash currently available in the marketplace to sell or buy a company, and the banks are opening their vaults to lend for both strategies. However, the banks aren’t lending as much as just a few years ago, so it’s still a challenge to obtain a loan. But if your profits and balance sheet look good, banks will be more cooperative. Now is the time to cultivate those banking relationships, and plan for your future.
Rick Sippola of Chautauqua Consulting is a specialist on developing packages to buy, sell and merge companies. Listen to his views on the current financial atmosphere a recent Entrepreneurs Club Radio interview.