Australian Based Morgan Business Sales Confirm Record Quarter

Oct 14, 2023

Morgan Business Sales, one of the biggest business brokerage firms in Australia, have had a record start to the financial year. The company has sold over 20 businesses since June 30, worth a combined value of over $20 million.

Sydney, Australia - October 14, 2023 /PressCable/ —

This record quarter comes at a time of uncertainty in the economy on the back of historic consecutive interest rate rises.

Many expected the business sales market to slow down in line with more restrictive access to capital. However Dru Morgan, the Director of Morgan Business Sales, stated this wasn't the case for him.

"Yes, interest rates have gone up which has made it harder for some buyers to access capital. But this change has also shifted the broader market, making acquiring a business a more attractive investment vehicle. This has brought in a new pool of buyers, particularly for our higher priced mid-market listings, who are getting deals done"

When queried whether this shift was responsible for the record quarter, Mr Morgan was quick to point to the efforts of his team.

"In business broking, transactions are a lagging indicator to hard work. The settlements in quarter one of the 2024 financial year are fruits from labour completed upwards of 12 months ago. It's very satisfying to see the hard work paying off for the team. Full credit goes to them."

When asked for insight into what types of businesses are selling best right now, Mr Morgan kept it broad.

"We are seeing transactions going through across price ranges and industries right now. There isn't one category that stands out. The only common theme being that the businesses that are selling are well positioned to be an investment. They don't have significant risk factors like being reliant on the owner who is selling.

This considered, my advice to business owners would be as follows.

If you're well positioned to exit, don't be put off by news of a bad economy. There are plenty of buyers out there.

If you're not well positioned to exit, start doing some professional exit planning today. This way you'll have developed a saleable asset for when the time is right. No matter what's happening in the economy."

About Morgan Business Sales

Morgan Business Sales are Australia's leading Specialist Business Brokers. For the past 25 years, they have successfully sold hundreds of large and small businesses. Whether looking to buy or sell, they are ready to assist.

No matter the size of the business, their team of experienced Specialist Business Brokers achieve fantastic outcomes. Learn more about Morgan Business Sales via their website here: morganbusinesssales.com

Contact Info:
Name: Dru Morgan
Email: Send Email
Organization: Morgan Business Sales
Address: Suite 19, 103 George Street Parramatta, Sydney, NSW 2150, Australia
Website: https://www.morganbusinesssales.com

Source: PressCable

Release ID: 89110358

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