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Orange County business sales rise in April
Number hits 114, up from 87 at the same time last year, says BizBen.com.
By Kristen SchottPublished: May 06, 2010 12:16 PM
Courtesy of FotoliaThe number of small and midsize firms that changed hands in Orange County last month hit 114, up from 87 in April 2009, according to a report from BizBen.com, a Web site that tracks the sale of California firms.
Sales were also up from March, and the April total pushes the number of transactions during the first four months of the year to 415, up from 382 in the same period last year.
Statewide, the number of businesses that changed hands last month dropped to 1,095, down from 1,768 in April 2009. The number also fell during the first four months of the year.
The selling environment has been much more positive in Orange County, compared to the state, according to BizBen.com CEO and founder Peter Siegel.
"I think the innovative streak common to many entrepreneurs in the county may help explain why it has registered an increase in business sales this year," he says.
Santa Ana saw the largest number of deals in April with 13 firms sold. The number is up from three at the same time last year. Twelve companies were purchased in Huntington Beach, and ten transactions closed in Anaheim.
On the other hand, areas such as Laguna Beach, Ladera Ranch and Newport Coast reported only one sale in April.
Looking ahead, Siegel believes continued growth depends heavily on the "ability and willingness" of lenders to provide funding opportunities to buyers. He says that incentives offered with Small Business Administration loans also help to support activity locally and across the state.
"Now," he says, "it's up to Congress to keep providing money to the SBA, so it can continue supporting these activities."
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Courtesy of Fotolia Sales were also up from March, and the April total pushes the number of transactions during the first four months of the year to 415, up from 382 in the same period last year. Statewide, the number of businesses that changed hands last month dropped to 1,095, down from 1,768 in April 2009. The number also fell during the first four months of the year. The selling environment has been much more positive in Orange County, compared to the state, according to BizBen.com CEO and founder Peter Siegel. "I think the innovative streak common to many entrepreneurs in the county may help explain why it has registered an increase in business sales this year," he says. Santa Ana saw the largest number of deals in April with 13 firms sold. The number is up from three at the same time last year. Twelve companies were purchased in Huntington Beach, and ten transactions closed in Anaheim. On the other hand, areas such as Laguna Beach, Ladera Ranch and Newport Coast reported only one sale in April. Looking ahead, Siegel believes continued growth depends heavily on the "ability and willingness" of lenders to provide funding opportunities to buyers. He says that incentives offered with Small Business Administration loans also help to support activity locally and across the state. "Now," he says, "it's up to Congress to keep providing money to the SBA, so it can continue supporting these activities." Related headlines HealthCare Partners acquires Talbert Medical C.R. Bard acquires Irvine-based SenoRx for $213 million Chapman: State's job market sees improvement |
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