3 Key Impacts of a Good Economic Summer on Small Businesses in the Triangle

The Triangle and the Triad have experienced incredible economic summers. For the first time in many years, families can afford to take a vacation and are doing so. But, what does that mean for business? If everyone is on vacation, is that impacting small businesses?

Our team at Sunbelt Business Brokers works hard to help place our clients in the best business for their situation. While some businesses we have sold are slower this summer, some are seeing an incredibly busy season.

3 key impacts we have seen from a good economic summer, in small businesses, are:

1. Change in Sales: Some types of businesses are having an incredible summer; for example, our clients who own heating and air conditioning businesses. However, retail shops and similar businesses are having a lower sales summer than what they are used to.
2. Higher Exit Rate: With changes in the sales comes changes in ownership. Sometimes, when a business sees a dip in sales, a small business owner starts to think about selling their business. This is rare, but we do see an increase in businesses coming on the market in a good economic summer.
3. Less Turnover: When employees are out on vacation and spending time with family, they don’t have time to be interviewing in other companies. Even further, many key decision-makers inside companies are out of town on vacation which leads to no interviews. This leads to lower turnover in almost every business during the summer months.

These are just a few of the key impacts we see on Durham small businesses during the summer. If you are considering opening a business, it’s a great time to buy a business in Durham. Contact us now for more information on the businesses for sale.