Canadian business buyers want to expand and pursue entrepreneurship
LONDON, May 19, 2022 /CNW/ – BusinessesForSale.com’s recent survey seeks to listen and understand what Canadian business buyers think of the current buying market.
More than 740 participants from everywhere Canada share their thoughts, articulating valuable information business buyers and sellers should know.
Data shows that almost 34% of buyers are under the age of 45. An appetite for expansion is on the horizon, with 46% of participants running their own business. A need for change is evident, with 40% of buyers working full time looking to pursue something different.
“The pandemic has accelerated the need for people to make the changes they wanted to make. This is supported by the number of first-time buyers coming to market,” says BusinessesForSale.com North America Director, Bruce Hakutizwi.
The most popular business interests include:
- Manufacturing
- Hotels
- Gas stations with convenience stores
- Tourism
- Pizzerias
- Commercial cleaning
Some other niche interests include metal fabrication, glass processing, and the cannabis industry.
As online businesses become a popular target, 29% of respondents say they are interested in digital leads, due to low overhead, scalability, and flexibility.
Canadian business buyers are willing to invest the accumulated cash, with 12% of participants having more than CA$500,000 as a deposit. The survey also shows that 31% of participants have between CA$100,000 and CA$250,000 to secure a deposit.
Nearly 8% of participants are looking for targets that are worth more 2 million Canadian dollarsand 21% are looking for a valued company between CA$250,000 and CA$500,000.
More than half of respondents (57%) say this is their first business purchase. Although independence is a common reason, other explanations include:
- Pursue business acquisition strategies
- Investment and diversification
- make dreams come true
- Securing a future for the family
Popular regions of interest to buyers include British Columbia, Ontario, albertaand Saskatchewan.
Canadian buyers generally have a positive view of the buying and selling market, with encouraging beliefs of stability and growth.
For more information on how you can buy or sell a business, visit https://canada.businessesforsale.com.
Other valuable information:
- BusinessesForSale.com is owned by Dynamis Ltd, a private company based in London.
- BusinessesForSale.com is the world’s leading platform for businesses for sale, with over 61,000 opportunities.
- The site connects buyers and sellers, receiving more than 1.2 million visitors each month, including 80,000 monthly enquiries.
For more information on this topic, please contact Bruce Hakutizwi at [email protected].
SOURCE BusinessesForSale.com
