From the Trenches - Interview With Virginia Business Broker Nathan Hughes

Nathan Hughes

Current market perspective from the trenches of the business acquisition & sale industry

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Sit-Down Interview With Business Broker Nathan Hughes

What are your thoughts on where business acquisition & sale market activity is heading over the next 3-12 months?

I specialize in restaurants and focus on the City of Richmond and surrounding counties in Virginia. The restaurant brokerage sector over the next 3-12 months is going to see a whirlwind of activity.

Restaurant owners have seen a fundamental shift in their industry and no one can be sure where it will land at this point. All that can be assured is that models need to shift along with the new realities. Many won't want to change, and many won't be able to adapt enough.

Others will change or find that their concepts are particularly well-suited to the new world. Even without changes directly related to COVID-19, I have seen some successful multi-unit operators deciding to sell off parts of their portfolios to change how their business is set up geographically or how their individual concepts work together.

What do you see as the top three things the government needs to do to support main street business acquisition and sale opportunities for small business owners through the remainder of this year?

1. Clarify how the forgiveness on the PPP program works for businesses that want to sell. Reassure sellers that the intent to sell affects their chances of loan forgiveness.

2. Provide clear and cohesive guidance/updates about COVID-19, rather than issuing contradictory statements across different branches and different levels of government. There is a lot that can't be known about how this will play out, but don't make wild guesses just to be able to sound like you know more than you do.

3. Provide proper funding and personnel for the SBA, to be sure that small business lending remains reliable.

How would you rate the current political environment related to small business growth, business acquisition & sales?

3/5