From the Trenches - Interview With Alberta Business Broker Steve Fylypchuk
Steve Fylypchuk
Current market perspective from the trenches of the business acquisition & sale industry
Sit-Down Interview With Business Broker Steve Fylypchuk
What are your thoughts on where business acquisition & sale market activity is heading over the next 3-6 months?
My brokerage is focused on the Main Street market. For a few months in early 2020, we saw a slow down of new businesses coming on the market in Calgary and Alberta. That period has past and activity has picked up. That pause in new businesses will cause a drop in closed deals over the next 3 - 12 months but it will be spread out.
What do you see as the most significant SELF-IMPOSED threats out there that could hurt the market for business acquisition & sale and small business activity in general?
The most significant self-imposed threat to our industry in the near future may be business owners that think a sale is impossible due to a dearth of buyers. There is no shortage of buyers for good businesses. Business owners should always talk to a professional and get an unbiased opinion on the saleability of their business.
What do you see as the top three things the government needs to do to support the main street business acquisition and sale opportunities for small business owners through the remainder of this year?
Governments need to make it easier to borrow money for the acquisition of a business and lower the tax burden on sellers. The more a business owner can keep after a sale, the more likely he/she will want to sell and for a reasonable price that makes sense for a buyer and a lender.
What are some of the questions a business owner should ask when choosing an advisor to help buy a business or work on exit planning to help navigate through this challenging stretch?
When choosing a business broker to help you sell your business Calgary, be sure to ask the following questions:
What kind of qualifications do you have?
Are you a member of the IBBA?
How many businesses did you sell last year?
Do you know what the market will pay for my business?
How will you keep the sale confidential while attracting buyers?
How would you rate the current political environment related to small business growth, business acquisitions & sales?
3/5
