| Is it different to sell a business in the GTA? | | | | providers you can turn to, lawyers, accountants and a |
| If you are thinking about selling a business in Toronto | | | | vast amount of expertise available in the city. |
| you might have many questions about the process, | | | | The local economy |
| etc. One question that does arise from time to time | | | | Toronto is a world class city with an advanced local |
| is if selling a company in Toronto is different than it | | | | economy that is as diverse as it is dynamic. For that |
| would be in less populated parts of Ontario. This is | | | | reason, there is a higher chance that you business will |
| an interesting question since there are some | | | | find a market in the city as well as a buyer should you |
| fundamental differences to sell a business in Toronto | | | | choose to sell it. The growth of the city, business |
| versus most other parts of Ontario or even Canada. | | | | opportunities and vast economic activity suggest that |
| This article will examine some of the unique attributes | | | | selling a business in Toronto would be a different |
| to selling businesses in the GTA. | | | | experience. |
| Population | | | | Wealth |
| This is a straightforward point. Looking at the raw | | | | On a per capita basis there is more “wealth” in |
| numbers, the GTA has many people. This translates | | | | the city of Toronto than in other parts of Canada. |
| into more potential buyers. Because of this, it is | | | | This is important to you if you are thinking of selling |
| typically easier to sell a business in Toronto than it | | | | your business because liquid resources (cash) are |
| would be in Owen Sound. | | | | required in order to buy a business. Many business |
| ImmigrationThe Greater Toronto Area attracts | | | | buyers have equity in their homes or stock portfolios |
| thousands of new immigrants to Canada every year. | | | | that they can tap into should they choose to purchase |
| Many of these immigrants unfortunately don’t have | | | | a company. This ‘wealth effect’ is a reason |
| the “right” credentials to move forward in their | | | | why businesses are sold to willing and able investors. |
| respective careers once they come to Canada – | | | | Market opportunities |
| either their degrees aren’t accepted or their | | | | Often, when a person buys a business they look to |
| experience in a foreign country is discounted. | | | | acquire not only the historic operations of the company |
| Whatever the case may be, this group of people tend | | | | but also think about the potential that the business has |
| to turn to small business ownership as a means to | | | | if they apply their skill, knowledge and passion to the |
| move ahead economically. Because of the relatively | | | | company. This “upside” is what most buyers |
| large number of immigrants (and investor immigrants) | | | | look to. Upside is higher in cities where different |
| to Toronto, selling a business in Toronto can be | | | | markets can be found (or created) and in urban |
| somewhat easier. | | | | centres that are seen as economic hubs. Toronto is |
| Support | | | | seen as a very attractive place to do business in so |
| If you would like to sell a company in Toronto you | | | | selling a business in Toronto should be that much |
| have access to resources that some less populated | | | | easier, for this reason as well. |
| area have. There are business brokerage service | | | | |