Australia’s current business climate is not without its challenges, and it may even seem like there isn’t a lot to be positive about right now. However, Wim Janssen, Director of LINK Sunshine Coast & Cairns North Queensland is here to remind business owners and prospective buyers alike that every cloud has a silver lining.
Wim notes that the pandemic has shifted Australia’s mentality. It has never been more apparent just how precious time is, and as a result, people are keenly reevaluating their current situations. “Business owners are highly motivated to sell, pursue other goals and enjoy the fruits of their labour while prospective buyers are eager to move away from wage work and explore the rewarding realm of entrepreneurship,” Wim explains.
Another significant trend sweeping through Australia is the rise in online purchasing thanks to the unmatched convenience and accessibility it offers. Observing this, Wim says, “The rapid speed of the changing market means that companies are re-designing their processes to keep up with the latest technology, ensuring businesses can tap into much wider markets.” This exciting development offers excellent opportunities for business owners to run their business from anywhere with low overheads.
According to Wim, the biggest takeaway is that Australia’s business landscape is becoming a buyer’s market, benefitting both vendors & purchasers. “More high-quality businesses are coming onto the market, and the demand for them is certainly there, allowing buyers to acquire a company that aligns with their goals, interests and skills.”
Emphasising that now is a favourable & realistic time for business owners to sell, Wim says, “A lot is changing in Australia, especially the collective outlook on what defines a good quality of life, so why not capitalise on the action?”.
In the evolving world of business in Australia, one thing remains clear: LINK looks forward to happily assisting buyers & sellers in achieving their goals throughout 2024, no matter what obstacles may arise.