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2 December 2017

Business Today

Newsmakers Breakfast Dec. 14 with the new mayor of Davidson Newsmakers Breakfasts Newly sworn in Davidare an open-forum Q&As son Mayor Rusty Knox with people who make the will be the Newsmaknews. Anyone can ask a ers Breakfast speaker question. Dec. 14​at The Peninsula Doors open at 7:15 a.m. Club.​A Realtor, singer for networking. The buffetand the son of former style breakfast gets under Mayor Russell Knox, he way at 7:30 a.m. The Q&A defeated John Woods in begins at 8 a.m. and conthe November election. RUSTY KNOX cludes at 9 a.m. The cost to Fast growth, transparattend, $12, includes a full ency in government and social media played major roles in the country breakfast. Reserve a seat at intense debate leading up to Knox’s 704-895-1335 with Visa or MasterCard. Sponsors include Allen Tate Realtor mandate in a three-way race. Dixie Dean, Aquesta Bank, Davidson Former Cornelius Mayor Gary Knox is his cousin. Knox’s uncles, Eddie and Wealth Management, Donna Moffett , Irwin Law Firm, The Joe, where the mayors of Charlotte Accountants​ and Mooresville, respectively, when Knox Group and Raymer Kepner Funeral Home. his father was mayor of Davidson.​

Record number of businesses have changed hands during 2017 BY DAVE VIESER dence among both business owners as With the economy sizzling, a record well as consumers.” Vagnone says many business owners number of businesses changed hands nationwide during the third quarter of believe that a relaxation of federal reg2017. According to BizBuySell’s 2017 ulations is setting the stage for even Insight Report, 2,589 businesses had more growth, especially among small changed hands, a 24 percent increase businesses. The Charlotte area has some very from the same quarter last year. This puts the number of year to-date trans- healthy statistics on business sales, actions at 7,491, positioning 2017 to especially when compared to last year be a record-breaking year of small and the national average. For example: The median asking price of businessbusiness transactions. It also contines for sale in the third quarues a two-year trend of roter of 2017 was $354,000 bust quarter-over-quarter compared to $299,000 in business-for-sale market 2016. growth, with Q4 of 2016 Businesses listed in Charbeing the only outlier. lotte had median revenue of “Not only are more $579,684 up from $570,613 small businesses changing at this same time last year. hands, but healthier busiThe median cash flow for nesses put the new ownCharlotte businesses in the ers in a great position for third quarter of this year continued success,” said VAGNONE was $125,000 vs. a median Bob House, president of cash flow of $110,032 in the BizBuySell.com. “This points to a bright future for small busi- second quarter. What’s ahead? Vagnone believes the nesses overall.” Small business broker and advi- growth trend will continue. “The busisor Joe Vagnone says the business of ness owners I speak with are confident business transactions is “off the chart. that rules which could stifle growth That’s the best way to describe the are not on the horizon and that should stimulate more growth like we’ve seen past two years. We’re seeing a strong sense of confi- in the third quarter.”

Business Today - December 2017  

The December 2017 issue of Business Today

Business Today - December 2017  

The December 2017 issue of Business Today

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