BizBuySell: Transactions level, smaller deals in 2017

BIZBUYSELL REPORTED record-breaking business transactions for the nation. The number stayed level in the Providence metro area. / COURTESY BIZBUYSELL
BIZBUYSELL REPORTED record-breaking business transactions for the nation. The number stayed level in the Providence metro area. / COURTESY BIZBUYSELL

PROVIDENCE – BizBuySell, an online business-for-sale marketplace, reports 45 businesses were sold in the Providence metropolitan area during 2017.

The 45 deals match the total from 2016, according to data released last week, although deals overall were smaller. The median sale of businesses totaled $364,000, representing a 48.4 percent decline from a year earlier.

The median revenue of the sold businesses fell 3.8 percent to $769,964.

The most popular types of business sold were restaurants and other retail operations, totaling 16 and 15, respectively. Five deals exceeded $1 million.

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Nationally, the company reports small-business transactions grew to record highs, exceeding the previous record in 2016 by 27 percent.

“This year’s increase marks a noteworthy upward shift in the number of small businesses changing hands across America,” according to the company.