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WELCOME TO bXb BUSINESS BROKERS
As of late 2021 the SBA (advocacy.sba.gov) estimated there are 32.5 Million small business in the U.S. (less than 500 employees) Small businesses make up 99.9% of all businesses.
According to the most current *federal data available in 2018, Washington had 590,908 small businesses and employed 1.3 million people. Year over year, the U.S. Bureau of Labor Statistics data shows a +/-20% 1st yr failure rate, +/-50% 5th yr failure rate and +/- 66% 10yr failure rate.
Surprisingly, the data was fairly consistent throughout economic downturns-notably 2008. The exception: The "Covid Economy" Consistent, current and reliable data is hard to find. We see more "non-reoccurring expenses" and an increase in business failures, especially with businesses such as restaurants.
We believe this is a unique time in history for both business owners and buyers. Opportunities abound for both.
According to the most current *federal data available in 2018, Washington had 590,908 small businesses and employed 1.3 million people. Year over year, the U.S. Bureau of Labor Statistics data shows a +/-20% 1st yr failure rate, +/-50% 5th yr failure rate and +/- 66% 10yr failure rate.
Surprisingly, the data was fairly consistent throughout economic downturns-notably 2008. The exception: The "Covid Economy" Consistent, current and reliable data is hard to find. We see more "non-reoccurring expenses" and an increase in business failures, especially with businesses such as restaurants.
We believe this is a unique time in history for both business owners and buyers. Opportunities abound for both.
bXb sells businesses that have an owner's annual net income, including profit, owner's salary, and benefits, of $250,000 to +$10 Million. We are members of the IBBA (International Business Brokers Association) with a network of over 1,000 Brokers worldwide. Contact us today for a confidential consultation.
