“No One’s Buying Businesses Right Now” – Pull the Other One!

Ah yes, that familiar line uttered confidently by your mate at the bar, the guy in your networking group, or that ex-founder-turned-business-coach on LinkedIn who “sold a business once” (and by business, they mean a second-hand catering van).

“No one’s buying businesses in this economy. Everything’s on hold.”

They say it with such certainty you'd think they had a Bloomberg terminal in their glovebox. The truth? They’re dead wrong.

Deals are getting done. Right now. In fact, the only people who think the market’s frozen are the ones who haven’t had a conversation with a real buyer since before COVID. And no, watching Dragons’ Den doesn’t count.

You see, the buyers haven’t disappeared. They’ve just lost interest in nonsense. They’re no longer entertaining inflated valuations, shaky numbers, and businesses that rely on one person doing everything, including the bookkeeping, marketing, and making the tea.

If you’re a business owner quietly wondering whether you’ve missed your moment to sell, or if now’s “just not the right time,” let me give it to you straight: the only thing you’re missing is a bit of backbone and a plan. This isn’t 2021, no one’s waving around chequebooks and paying top dollar for chaos in a spreadsheet. But if you’ve built something that actually works, then yes there are buyers, and they’re looking.

About That "Bad Economy"

Let’s talk about this so-called bad economy. Yes, it’s not the easiest market in the world. Interest rates are higher, costs have gone up, and the macro headlines are about as cheerful as a wet Monday morning in Margate.

But let me ask you this: when has business ever been easy? Selling a business isn’t like flogging a flat-screen telly on eBay. It’s not about timing the market, it’s about readiness.

While the doomsayers are moaning about “waiting for things to settle,” smart buyers are getting deals done. Why? Because they know that strong businesses, those with stable cashflow, repeat clients, solid teams, and decent margins are worth having, regardless of the economic weather. And if they can buy one while the competition is dithering? Even better.

Who’s Actually Buying?

Let’s be clear. It’s not some bloke with a side hustle and a Shopify subscription.

Trade buyers are very much alive and well. They’re looking to expand, bolt on complementary services, or move into new geographies. If your business offers them leverage, more customers, better margins, operational synergy you’re on their radar.

Private investors are still sniffing around too. Often these are ex-corporate execs or seasoned entrepreneurs with a chunk of capital and a distaste for the stock market. They want something solid, ideally with a good team, decent systems, and enough runway to grow without needing miracles.

Private equity’s still at the party, though a bit more sober than before. They’re choosy. They’re measured. But if your EBITDA’s healthy and your sector’s attractive, they’ll take a look, especially if you’re not the kind of seller who confuses “potential” with actual performance.

And then there are Employee Ownership Trusts. It’s not just about buyers with bags of cash, sometimes your best buyer is already working for you. EOTs are growing fast in the UK, and for good reason: tax advantages, legacy protection, staff engagement. Not glamorous, but very sensible, like a Volvo estate with heated seats.

Who’s Selling?

More people than you think and not just those on the brink of retirement.

Sure, there are plenty of sixty-somethings looking to hand over the keys and finally use that National Trust membership. But they’re joined by forty-somethings who’ve had enough, business owners who want to de-risk while they’re ahead, and entrepreneurs who want to move on before the next unexpected tax change knocks another 10% off their exit.

The key difference between those who sell well and those who struggle? Preparation.

Buyers Aren’t Buying Dreams

You don’t need to be perfect. But you do need to be honest. Buyers aren’t expecting your P&L to sing opera, but they do want to see numbers that make sense. They want to understand how the business runs, who does what, and how easily they could step in.

If your answer to “How does it all work?” is “Well, I just sort of… do it,” you’re not ready.

And you know what? That’s fair. If you were buying a business, you’d ask the same questions. Yet too many owners go into the sale process with a mixture of arrogance and vagueness, thinking a buyer will just “get it” and pay top whack without question. They won’t.

This matters because buyers, especially the good ones, talk. They speak to advisers, brokers, accountants. They look at a lot of businesses. If yours is a mess or you come across as unprepared, you don’t just lose one buyer, you lose five. Word travels.

“I’m Just Waiting for the Right Time…” That’s not strategy. That’s fear with a LinkedIn filter.

Waiting feels safe. But here’s what usually happens: while you wait, your top staff start thinking about their own exits. Your competitors get bolder. Your energy dips. And the business that could’ve been sold for seven figures last year starts to lose its shine.

Most owners don’t realise how long it takes to sell, even in the best conditions. You’re not flipping a house. It’s a six to twelve month journey, minimum. Longer, if your business depends on you personally turning up every day like a caffeinated Swiss Army knife. That’s not an exit-ready business, that’s a job with branding.

What Can You Do?

Start prepping. Quietly. Sensibly. Get your financials in order. Build your team’s independence. Tighten your processes. Work out what a buyer might see as a red flag and fix it now, before they spot it and start knocking chunks off the offer price.

And please for the love of business, stop asking Barry from the darts team what he thinks your business is worth. Barry’s never bought a business. Barry once sold a caravan on Gumtree and still talks about it like a private equity exit.

Want to make your business more appealing immediately? Start by tracking your key numbers monthly. Create a basic operations manual. Write down your sales process. Cross-train someone to do what you do. Make it boring, that’s what buyers want. Predictable. Transferable. Profitable. Not a personality cult with a fancy logo.

Last Orders

The market isn’t dead. It’s just grown up. It’s lost patience with nonsense. And if you’re serious about exiting, whether it’s this year, next year, or “once things settle down” then the best thing you can do is start planning while you’re still in the driving seat.

Selling a business isn’t about luck. It’s about timing, presentation, and preparation. And if you get those things right, buyers will find you, even in this economy.

So next time someone tells you “No one’s buying businesses right now,”

smile politely, buy them a pint, and get back to running a business worth buying.