Latest News from Everett Masson & Furby
Life After Lockdown – A Business Market Update
When the EM&F Group closed their offices in March as the country went into lockdown it was a feeling of uncertainty and trepidation, we did not know what the future would hold for the world of business transfer. However, it soon became apparent that the demand for businesses would continue and the majority of transactions that were already in solicitor’s hands were merely stalled rather than aborted.
Throughout April and May the enquiry rate continued to increase throughout various sectors and with viewings not permitted at that time interested parties had telephone and video meetings with vendors, information being shared in a different way to how we have been accustomed in the past.
Business owners in so many different sectors have adapted amazingly to cope with the restrictions enforced upon them. Cafes, village pubs and restaurants have offered takeaway services to the local communities. Convenience stores and village shops in particular have been incredibly well supported by the local population and have put themselves on the front line to serve their communities. Unsurprisingly then, this is one sector of the market place which has been hugely successful throughout lockdown both in respect of numbers of new enquiries and with new sales being achieved throughout the EM&F Group.
Whilst restrictions have held up completions in many sectors, sales of retail businesses such as newsagents, convenience and village stores have been able to complete. Nestors News in Exeter, McColls Stores in Paignton and Portsmouth, Furzehill Village Stores in Dorset are just some of the businesses to successfully reach completion.
Moving forward, with non-essential shops now opening and catering businesses preparing for opening from July, interest in businesses of all sectors continues to show an upward trend. EM&F valuers are now able to take-on new instructions; if you are considering selling your business please contact your local office for a free market appraisal.
Selling your business? That’s our business!