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BusinessesForSale.com buyer survey: Canadian business buyers want to expand and pursue entrepreneurship
Data demonstrates that nearly 34% of buyers are under the age of 45. An appetite to expand is on the horizon, with 46% of participants running their own business. A need for change is evident, with 40% of buyers in full time employment looking to pursue something different.
"The pandemic has accelerated the need for people to make the changes they have been wanting to make. This is supported by the number of first-time buyers coming into the marketplace," says BusinessesForSale.com North America Director, Bruce Hakutizwi .
Popular business interests include:
Some more niche interests include metal fabrication, glass processing, and the cannabis industry.
As online businesses become a popular target, 29% of participants say they are interested in digital prospects, attributed to low overheads, scalability, and flexibility.
Canadian business buyers are ready to invest pent up cash, with 12% of participants having over C$500K as a deposit. The survey also shows that 31% of participants have between C$100K and C$250K to secure a down payment.
Nearly 8% of participants are looking for targets worth over C$2m , and 21% are looking for a business valued between C$250K and C$500K .
More than half of the participants (57%) indicate that this is their first time buying a business. While independence is a common reason, other explanations include:
Popular regions that buyers are interested in include British Columbia , Ontario , Alberta , and Saskatchewan .
Canadian buyers generally have a positive outlook on the buying and selling market, with encouraging beliefs of stability and growth.
For more information about how you can buy or sell a business, visit https://canada.businessesforsale.com.
Other valuable information:
For further information about this topic, please contact Bruce Hakutizwi at bruceh@businessesforsale.com.