Record Numbers Of Small-Business Owners Are Cashing Out
2016 was a good year for small-business owners — so good that 7,842 of them sold their companies. That's the most sales since online marketplace BizBuySell first started tracking data in 2007, according to the Washington Post.
A healthy business environment was the primary reason for the sales, BizBuySell's survey found. Good financials make a company more attractive, both for buyers and sellers. An aging population was the second reason. Baby Boomers are looking to retire and Millennial business owners are looking for opportunities.
Another factor was low interest rates and a favorable financing environment — but a terrible savings environment. The result is people who would rather control their financial life than rely on the stock market or flat savings rates. [WaPo]