Illawarra Business Owners Survey 2021
In mid 2021 MMJ Business Sales asked the a diverse range of Illawarra business owners about where they’re at right now, to help us better understand the needs of our customers.
The results of MMJ’s first Illawarra Business Survey should be surprising, but for the Business Sales & Acquisition Team it confirmed our anecdotal evidence of a strong local recovery from the ordeals of 2020.
We speak with business owners, buyers and sellers every day - often in depth when we perform our Complimentary Business Appraisals (click here for more details).
Across almost every industry, every size of business and throughout the region we had reports of revenue above normal levels, with more issues for businesses finding staff than finding customers.
The survey was conducted through our contacts on LinkedIn, our extensive database and helpful shares from Business Illawarra and The Northern Illawarra Chamber of Commerce. Responses were received from businesses operating in 18 different industries including Retail, Agriculture, Manufacturing, Hospitality, Finance, Education, Construction, Law, I.T, Healthcare and even Pet Boarding Services. The size of businesses captured by the survey ranged from the solo self-employed (21% of responses), through micro (less than 5 employees - 30%), through to businesses with more than 50 employees (9%).
The overwhelming theme of the responses was optimism – with less than 2% of businesses planning to reduce staff and just 13% expecting below normal revenue in 2021. This was also reflected in the 15% of businesses planning to use an acquisition to grow revenue.
Interestingly whilst 25% of businesses plan to exit in the next 5 years, less than 5% are planning an exit in the next 2 years, which indicates that Illawarra business confidence in short term profitability appears strong.
The combination of stronger than normal business buyer demand and limited businesses for sale means now could be the right time to consider putting a business on the market. We recommend starting the journey towards a business sale with an MMJ Customised Business Appraisal, which will provide our opinion of a fair market price for your business. This service is complimentary and no obligation – for more details email email@example.com.
MMJ Business Sales & Acquisitions wishes to thank all the participants in the Illawarra Business Owners Survey. We understand how valuable your time is, but also want all business owners to know that their views are important.
We love hearing the story of your business, where you are at and where you plan to be. MMJ can help you with our opinion of a current fair market price for your business - CLICK HERE FOR DETAILS.