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Buying a small business becomes a bigger business

A record number of small businesses changed hands in the third quarter, according to a new analysis.
[

istockphoto.com]

A record number of small businesses changed hands in the third quarter, according to a new analysis. [ istockphoto.com]

The buying and selling of small businesses is heating up, reaching levels not seen since before the Great Recession struck.

Nationally, 2,090 small businesses changed hands in the third quarter, the highest number since BizBuySell started tracking such data in 2007.

The Tampa Bay area accounted for 72 of those closed transactions, with a median sales price of $150,000, according to BizBuySell, an online marketplace which facilitates sales of small businesses.

The median revenue for bay area companies was about $396,000, up 10 percent from a year ago, while the median asking price jumped almost 12 percent to $200,000.

Buying a small business becomes a bigger business 11/07/16 [Last modified: Monday, November 7, 2016 2:04pm]
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