Is the UK economy turning a corner? Chancellor George Osborne certainly thinks that this is the case. We think that now may well be a good time to sell your business if that is something you are mulling over in your mind.
In a speech in London, Mr Osborne cited “tentative signs of a balanced, broad based and sustainable recovery”, he did however point out that these are the “early stages” and “plenty of risks” could face us in the coming months.
With the gross domestic product figures growing by 0.7% in the second quarter of the year, and with predictions it could reach 1% for the third quarter, this certainly looks likely.
Shops remain an issue and indeed high Street vacancies remain high, according to a recent report from the Local Data Company.
The report stated that the average vacancy rate in the top 650 town centres was 14.1%. This is just slightly down from the previous figure of 14.2% taken in February.
Whilst this is undoubtedly a bad sign for high street businesses, with a possible upturn in the economy, this also presents a golden opportunity for those with spare cash and a good business model to snap up any businesses and prepare them for the upturn.
There is also an opportunity here for businesses who are maybe struggling and finding times tough to think about the option to sell your business.
As is always our advice to sellers, before committing to sell, ensure the business is portrayed in the best possible light. Cestrian Business Sales can help here also with tailored packages to ensure you prepare your business correctly.
If you are thinking of selling your business, call us now on 01244 336639 and we can chat through what you need to do to achieve your personal selling goals.