Online website for baby boomer business
A new online market has been set up where private operaters can buy or sell businesses or even raise finance. BizExchange is aimed at the $3 Trillion private and family owned business sector which is tipped to go through an upheaval as baby boomers who own businesses reach retirement.
Mebourne based BizExchange is a private business with the support of CPA Australia and business group IBISWorld. Founding members include KPMG, Gadens Lawyers, Pitcher Partners, Grange Securities and P&S Business Brokers.
CPA said there was a growing need for Australian businesses to develop succession plans, as a 2004 survey showed that one third of business owners were aged over 50, with this figure increasing at 3.7% a year
BizExchange aims to fill the need for venture capital markets for small businesses. Its listings will contain a range of information such as turnover, earnings before interest and tax and the business valuation.
( business age 11/8)
