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California Business Brokers Association Announces 22 Percent Increase in Businesses for Sale

By Anonymous

CAMPBELL, CA March 29, 2004--The California Business Brokers Association (CABB) announced today that the number of small- and medium-size businesses available for sale has increased 22 percent over last year, according to reports from its 300 California-based members.

“We are finally seeing small businesses return to the profitability levels of pre 9-11,” says CABB president Ken Oppeltz. “Very few business owners wanted to sell their business based upon the poor financial results that followed the 9-11 disaster, creating a small pool of available businesses. Now that things have stabilized and earnings are up, we are seeing more small business owners ready to sell.”

Currently, CABB has over 1000 small- to mid-size businesses for sale on its Web site, ranging from a bicycle shop to a vineyard and winery to a software development company. Although the numbers of available businesses are still below the highest levels of the late 1990s, the CABB believes that these numbers will steadily improve throughout 2004 and 2005. Indeed, with the increase in available businesses, there is tremendous opportunity for buyers desirous of small- to medium-sized businesses, which are typically characterized as businesses valued up to $5,000,000.

“This increase in available businesses could not have come at a better time,” according to Tony Moran, CBI, a business broker with Business Team in Pleasant Hill, California. “Corporate downsizing and baby boomers wanting to control their destiny have really created a huge buyer pool, but, to date, their selection has been limited. Now we are seeing a shift as these buyers have more available businesses from which to choose.”

About CABB:
The California Association of Business Brokers is a professional trade association whose members are actively involved in selling, buying and valuing businesses. CABB was organized in 1986 to elevate the level of service and professionalism of brokers serving the public in the purchasing and selling of businesses abide. CABB members adhere to a strict code of ethics and are united in their effort to better serve the public by creating a broader and more active market for business sales. CABB is the largest statewide association of business brokers and an affiliate organization to the International Business Brokers Association (IBBA). Additional information about CABB and a listing of businesses represented by CABB members can be found at www.cabb.org.

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