In 2025, small business owners who want to purchase or sell are exploring the changing environments that are increasing uncertainty, strict loans and changes in buyer behavior. According to the latest Q2 2025 Bizbuysell’s Insights ReportAs the buyer faced tariffs, the buyer re -evaluated the risk, and the total trading value and the median sales price fell according to the small business management (SBA) loan requirements, and business transactions of 4% year -on -year decreased 4% year -on -year.
The market saw that 2,342 companies changed their hands in the second quarter of the second quarter of the second quarter of the second quarter of the second quarter, which followed the rapid early momentum after the Trump administration announced that it had swept new tariffs. This trade policy for imported products has injected new uncertainty, especially in the decision to acquire businesses that depend on global supply chains.
Horizon Business Brokers and LLC’s Dustin Zeher said, «The uncertainty of how tariffs affects the business that depends on imported products and how it affects financial performance causes the buyer to hesitate.»
Sellers and operators are already feeling pressure. Almost half (46%) said that input costs were increased due to tariffs, and 55%said that inflation continued to increase. In order to manage the cost increase, the two -thirds of the business owner raised the price, but the customer’s response is diverse as consumers pay more attention to spending.
“Some customers understand market pressure, and other customers are having a higher price than they have paid in the past.
This pressure is filtered into a trading market. The average selling price was $ 352,000, down 6% from the previous year, and the intermediate cash flow decreased by 2.6%. At the same time, the buyer focuses on smaller and more dangerous transactions, contributing to a 4%overall enterprise value.
The purchase environment was also partially led by changing regulations on the SBA loan program. From June 1, the SBA rules now deal with only 50% of the seller’s notes (especially 10% of the project cost) and placed it in the entire atmosphere. In other words, the seller cannot often receive over 10 years of repayment until the SBA loan is full. This notes are essentially interested and unsecured.
Mark Kincannon of Resolution Equity Partners said, “SBA loans have been a true challenge with a new federal regulation on seller notes.
More complicated problems, all sellers must personally guarantee full SBA loans for two years. In addition, all partial ownership transfer should be composed of stock sales, not asset sales.
As a result, buyers and sellers are diverging. Only 23%of the owners can provide seller financing, while 62%of the buyers expect it to be part of the transaction. This disconnection is slowing the closure of transactions with regulatory headwinds. Business brokers reported that the average time increased in the market on the 12th, and 41%said the new SBA rules were delayed.
But there is a solution. Experts are a good idea to restructure the seller’s notes by replenishing the buyer’s shares. This will proceed with repayment and show the trust of the seller. It is also recommended that the buyer also secures pre -qualifications and shows the financial preparation state from the beginning.
JEFF Miller of Transworld Business Advisors in southern OHIO said, «There is a tremendous demand for good business … The first word will answer business brokers,» Will the seller raise money to the purchase? » Include evidence that cash can close the door and letters from the SBA loan institution. «
Despite the headwind, the buyer’s attention is especially powerful in recession resistance. 73 %of buyers are aiming for stable and essential businesses, especially in the service sector. This includes home services, medical, logistics and delivery work.
“Buyers are competing for the best business and are currently selling very fast at premium prices.
The buyer’s pool itself is evolving. As job security weakens, more experts are leaving a role in finding entrepreneur independence. This “corporate refuge” concludes 45% of buyers’ base (36% last year), while the proportion of unemployed buyers has been completed.
John Pastoor of Calder Capital said, “In the middle market, I have met more business experts who are serious about purchasing business.“ Many people spent 20-30 years, and I can’t provide my current career as a good way to change my career. ”
Sector’s performance reflects these changes. In the retail, transactions increased 2% year -on -year, and intermediate sales prices increased 13% and intermediate cash flow increased 14%. The buyer pays a premium for the elasticity business through infectious diseases such as groceries and pharmacies.
The service sector is also well done. Trading prices rose 7% year -on -year, but sales prices fell slightly. Companies of car repair, health and logistics are still high in demand.
Calder Capital’s Matt Baas said, «Buyers’ demand is especially strong in profitable recession reduction business.» But inventory is still low.
Meanwhile, the sector exposed to tariffs has its impact. Manufacturing transactions decreased by 28% year -on -year and profit and cash flow sharply. Due to tariff -sensitive products, unpredictable supply costs and trade tensions, these projects make value and finance difficult.
Vipin Singh of Murphy Business Sales said, «The tariff is quiet but greatly affects a significant business market.» The impact of tariffs relies heavily on the industry. «
The restaurant also had a hard time. While food costs and inflation have increased by 3% year -on -year, profitability has decreased due to sales growth. Meals are still popular, but the margins are still decreasing.
In the future, the market is uneven but is expected to grow in moderation. Business with powerful finance and stable demand will continue to attract attention. 70%of buyers say that tariffs will not delay the timeline, but more stringent SBA loan standards can limit qualified people.
Small business owners who are considering sales should try to improve their operation, strengthen their finance, and develop realistic expectations. The buyer must prepare with a strong case of why capital and financing are lined up and why they are right.
Sheeaffer said, «Buyers must competitively evaluate and present.» Their industry knowledge, preparation, experience, aptitude, financial intensity and focus are key. «
As a Buddy Carp of Squizzero, CARP & Associates says: “Loan institutions are ready to go in line.
Sellers must be ready to negotiate. This can mean to provide a seller finance to get a fair evaluation and to attract serious buyers. As the Pat Adams of the acquisition Finder pointed out, “I understand that the market value of the business will be almost the same as all the blood, sweat and tears you swollen.”
For more information on data and more insights in the second quarter of 2025, visit the original Bizbuysell report. https://www.bizbuysell.com/insight-rport/
