BizBuySell Blog Demographic Study - Small Businesses Are Being Purchased by Younger, More Diverse Set of Buyers

Nearly 10,000 small businesses changed hands across the U.S. in 2017, a 27% year over year increase, according to BizBuySell.com. With small business sales closing faster and at record-high average sale prices, this brings into question, who is behind all this activity? What sort of changes are taking place within the small business landscape? Taking a closer look, BizBuySell surveyed 2,300 small business owners and buyers to study the characteristics of those driving this activity. What did the study reveal about small business owners and buyer demographics? Small business buyers are getting younger than existing owners. The majority of those seeking to buy a business are now under 50 years old, while the majority of those who own a business are over 50 years old. Small business buyers are more ethnically diverse and more likely to be immigrants, compared to owners. Both small business owners and buyers are made up of over 75 percent men. Yet, 71 percent of small businesses are owned by White/Caucasians, while only 65 percent of buyers are White/Caucasians. Asian/Pacific Islanders is the predominant minority in both these groups. 48 percent of owners are first-generation U.S. immigrants, compared to 64 percent of buyers. Sixty percent of [...]The post Demographic Study - Small Businesses Are Being Purchased by Younger, More Diverse Set of Buyers appeared first on BizBuySell Blog.