Small Businesses are hot….real hot and on the rise in 2018. At the Institute for Business Acquisitions, we feel that there has almost never been a better time to buy a business than right now, and here’s why:
CNBC takes a Small Business Confidence poll each quarter, and in the most recent results, this index hit a record high. It increased from 57 to 62 (out of a 100 scale), which is also the highest quarter-to-quarter increase that the index has seen since they began measuring. This poll is taken among over 2,000 self-identified small business owners, so it isn’t just some obscure group. Small business owners are inherently tuned into their businesses. They know when their phones are ringing more, when their orders are up, and when their store traffic is high. So, we have a high level of trust in this type of polling data.
So why is confidence high and what does it mean for you? Well, confidence is up because the economy is strong right now. That has been the case for a few years now, but the tax reform bill seems to have given it an additional shot in the arm. This is good news for entrepreneurs, and we feel that if you aren’t already in, you need to be. NOW IS THE TIME TO BUY A BUSINESS!
Combine these small business confidence stats with the strong economy, the recent changes to Small Business Lending (see our article here on the changes to Small Business Lending), low interest rates, and lastly, the fact that the baby boomer generation are retiring at a record pace and selling off highly profitable, well-established businesses— it is hard to think of a better time to buy a business… certainly not in recent history.
Some people are looking at the strong economy and thinking that now is the time that they should start a business… we say NO. Starting a business carries the same risks regardless of the economy, even if they are slightly reduced, and usually takes several years to become successful (if it even reaches that point), leaving you in a situation where you may have missed the best years. Buying a business helps you mitigate that risk, and take advantage of this economy right away and put money in your pocket on day one. For more information on starting a business vs buying a business, see our article here.
So, what do you do next? TAKE ACTION. This won’t just fall on your lap, but it isn’t as difficult or complicated as you may think either. I wrote an article here detailing the steps to get you started now. I would also like to invite you to join our free support forum for buying a business here, so you can begin interacting with other entrepreneurs like you.
If you’ve ever been interested in being your own boss, owning your own business, and controlling your own future, we feel that there has never been a better time. Don’t let this economy pass you by. Take action, and let us help you along the way.
I hope to see you in the support forum soon, where I will be happy to help you and answer any questions you may have.
Institute for Business Acquisitions
ps. Here’s a link to the CNBC video discussing this small business index.