The Orange County Register recently asked eight influential members of the business community what they expected for the OC economy in 2013. Here’s one response you might find interesting from Center for Entrepreneurship Director, John Bradley Jackson:
John B. Jackson
director, Center for Entrepreneurship, Cal State Fullerton
While the federal government officials may fear a “fiscal cliff” with increased budget deficits, small-business owners may face a “fiscal prairie.” The outlook is flat, dry and dusty. For the small-business owners who survived the last four years, most are out of cash, have little access to new capital, have downsized to bare bones and remain desperate for revenue.
Because of this fiscal prairie, small-business owners are selling their businesses in record numbers. For entrepreneurs with cash and courage, it is a buyers’ market. Many of the small businesses are priced at salvage value. There are bargains galore.