Bizstats’ Post

Some great insights below from Bizstats. Over optimistic Vendors (sometimes backed by their Accountants) can lead to businesses being overpriced when going to market, which is in my opinion the main reason a business does not sell, and can then go 'stale' in the market. Obtaining a realistic appraisal of value backed by recent market data is critical in the sales process. Listing a business for the price the Vendor wants, rather than what the business is actually worth, will never work, and will have a detrimental effect on the outcome.

Some fascinating data from BizStats below together with insightful comments from Tabak Business Sales - South Island business partner Sam Cherry. The BizStats findings are largely reflected within Tabak’s internal data and we are firm believers in the use of valid and reliable market data when appraising the value of a business. Tabak’s success rate when taking businesses to market is 80% which we anecdotally believe to be significantly higher than overall industry data.

Keeps getting worse for Canada. The number of business closures rose to a multi-year high of 45,845 in December 2023, while new business openings fell to a 5-month low. As a result, the number of active businesses fell to 929,000 during the month, down 0.2% from a year earlier. #canadianeconomy #entrepreneurship #BusinessStatistics

Starting a new business in Australia? Important points to consider before succumbing to a bad domain! Biz Australia is not only committed to helping budding entrepreneurs on their journey to setting up a business, but also informs them about unforeseen roadblocks they may encounter. Take note that this discussion is independent of Australia's Governing Body. It is crucial to choose the right business name - a detail that often tends to be overlooked. But it doesn't end there. Securing a professional online presence for your business is equally important. Unfortunately, a domain name may not always be available in your preferred business name. To avoid disappointment, it's a good idea to check the availability of your preferred domain before registering your business name with the Registration Office. More often than not, entrepreneurs have had to rethink their entire business plan due to an unavailable domain. Imagine going through the entire process of registering your business, only to find out that the domain is unavailable. It won't just be a waste of time and effort but may halt your innovation and creativity as well. To ease this process for entrepreneurs, Biz Australia has seamlessly combined two critical steps into one. When you step into our website, https://register.biz.au, you can check both the availability of your business name at the Registration Office and the availability of your preferred domain name. If the name is available, you can proceed with setting up your business right away! It's as simple as that. So, if you’re considering setting up a business in Australia, keep these points in mind. The right name and the right domain can give your business the right start! We hope this information makes your entrepreneurial journey a little easier! We at Biz Australia are always here to help you navigate your way through the world of businesses! Register your new business name at https://register.biz.au #businessnews #businessaustralia #bizaustralia #biz #businessname #registration

If you are a business owner why is the Mindset Project so important? I believe the private sector holds the keys to truly impacting positive change for Nova Scotia. But for us to realize our potential we need a healthy private sector and the truth is we currently do not. We have the worst ratio of business owners to population of any province in Canada (Stats Can 2022) and on top of that 72% of business owners aren't getting what they want from their businesses. If you are an owner and can spare 15 minutes to fill out this survey it could help provide valuable insight to create real change to the entrepreneur landscape here in Nova Scotia! https://lnkd.in/eCBEi7ux

Are you a Canadian 🇨🇦 entrepreneur looking to buy a business? CFIB reports that over $2 trillion in assets will hit the market within the next decade, with 9 out of 10 businesses having no formal succession plan in place… If you’re thinking about taking this path, I’d love to meet. Timing is never right in life and it’s likely that you’re currently in a great job. In other words, you may think that it’s not worth it. I totally disagree and I’d love to connect if you’re on the fence because CANADA NEEDS MORE ENTREPRENEURS! From finding a business (who sells them anyway?), to hiring advisors (how much do QofEs cost?), to closing transactions (fees!), to what to do after you close (that’s where the fun begins), there is a lot to consider. I bought a commercial bakery in 2019, then another in 2020, and two in 2021. It’s been a great professional journey and I’ve learnt a lot along the way. So if I can be a sounding board to you and you might be able to learn from my mistakes, I’d be happy! Shoot me a DM and I’ll connect! #buyabusiness #buyabusinessincanada #entrepreneurship

Know two businesses that meet the criteria? 🤝 Refer them in the comments below, and once they sign up, reply ‘DONE’ to earn your free credit! 💸 It’s that simple—tag the businesses, get them signed up, and claim your reward! #ReferralRewards #BusinessBoost #FreeCredit #ProcureAfrica #ProcureYourFuture #innovation #africa #management #business #entrepreneurship #b2b #b2bgrowth #procurementleaders

📣 DISCOVER THE PERFECT BUSINESS FOR YOU: EXPLORING TOP BUSNIESS OPPORTUNITIES IN TEXAS -------------------------- ✅ Texas offers a vast array of business opportunities across diverse sectors. At ABC Business Broker, we are dedicated to helping you navigate the business acquisition process and leverage these opportunities to achieve your business goals. By applying the B.U.Y. model and integrating operational excellence principles, you can make informed decisions and position yourself for long-term success. If you have any questions or need further assistance, don't hesitate to reach out to us. Remember, your success is our priority! 💥Full article link in comments 🌟 "Disclaimer: The information provided in this content is intended to offer professional advice and guidance. However, it is for reference purposes only, and the final decision is solely your responsibility. Always conduct your own research and consider your unique circumstances before making any decisions. The authors and contributors of this content are not liable for any decisions you make based on the information provided." ------------------- 💥Content is copyrighted by ABC Business Broker: #BusinessBuying #TexasBusiness #OperationalExcellence #BusinessAcquisition #BusinessBrokers #TexasEntrepreneurs #BusinessGrowth #Entrepreneurship #SmallBusiness #BusinessSuccess #ABCBusinessBroker #RetailBusiness #ServiceBusiness #ManufacturingBusiness #TechnologyBusiness #HealthcareBusiness #FoodAndBeverageBusiness #Franchise #OnlineBusiness #RealEstateBusiness

Know two businesses that meet the criteria? 🤝 Refer them in the comments below, and once they sign up, reply ‘DONE’ to earn your free credit! 💸 It’s that simple—tag the businesses, get them signed up, and claim your reward! #ReferralRewards #BusinessBoost #FreeCredit #ProcureAfrica #ProcureYourFuture #innovation #africa #management #business #entrepreneurship #b2b #b2bgrowth #procurementleaders

Know two businesses that meet the criteria? 🤝 Refer them in the comments below, and once they sign up, reply ‘DONE’ to earn your free credit! 💸 It’s that simple—tag the businesses, get them signed up, and claim your reward! 💚💚 #ReferralRewards #BusinessBoost #FreeCredit #ProcureAfrica #ProcureYourFuture #innovation #africa #management #business #entrepreneurship #b2b #b2bgrowth #procurementleaders