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Small, Mid-Sized Business Sales Up More Than 16 Percent Compared To Last Year

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LOS ANGELES (CBSLA.com) — November sales of small and mid-sized businesses in L.A. County were up more than 16 percent compared with last year, an online business network announced Tuesday.

“This was the best November report we’ve seen for California since 2008, when 1,220 business deals closed escrow,” said Peter Siegel, founder and president of BizBen.com. “It’s encouraging to notice the improvement in business transfer activity because it suggests that the market is starting to recover from the slowdown we’ve experienced over the past four years.”

The BizBen Index, which has tracked business sales statistics for the past 15 years, found that the cities of L.A. and Long Beach showed the most activity last month. More than 300 small and mid-sized businesses were soled in those cities, the two largest in L.A. County.

“Thousands of Californians have decided that owning their own company is a better long-term financial plan in this economic environment than working for someone else,” Siegel said.

BizBen.com features California businesses for sale and postings by would-be business buyers.

(©2012 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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