Dear Business Owners / Clients, Potential Buyers and Suppliers,
The troubled times of the past year have now followed us into 2020 and have sent shock waves into the wider Australian economy and perhaps nowhere more seriously than along the the NSW South Coast.
I do not need to remind you of the challenges that we have experienced nor list the severe and imminent economic, health, and social issues that will place incredible strain on an already wounded business sector.
South Coast Business Brokers has not been immune to this situation. We have extended the listing of businesses, despite the significant cost, without asking for further payment from business owners.
The value of this advertising has dwindled from 60-100 visits per day in early 2019 to less than 5 per day at the moment.
We ceased listing additional businesses about four months ago as we were not in a position to give any assurances or even predict the time required to sell a business as our previous models and statistics were no longer applicable.
We have enjoyed meeting and assisting sellers and buyers alike along the magnificent NSW coast from Wollongong to the Vic border. Recently, we have continued to supply full exposure of listed businesses so as to give buyers every opportunity possible to secure a business that was right for them.
The most difficult situation over the years has been when I need to share a professional opinion with an owner of a business and tell them that the best course of action for them would be to cease trading.
It is even harder when you have to tell yourself to go down the same path, so I am sorry to say that is exactly what SCBB needs to do.
We have continued as an active business brokerage so as a result of this some of the invoices that we have issued remain unpaid, This has been most noticeable where we have agreed to short-term instalment terms to help business owner to meet listing fees. In a similar way those businesses that have been sold or are in the process of moving toward the signing of agreements or settlement still need to satisfy their legal and financial obligations with SCBB. We encourage clients in either of these situations to arrange payments to avoid theinvolvement of our collection agency.
It has been a privilege and pleasure to be associated with the majority of our clients and I hope that in the main we have been able to facilitate Win-Win outcomes for buyers and sellers.
Our suppliers have been wonderful, helpful and creative so I wish them all the very best.
I wish everyone a healthy and prosperous passage through the ”sea of troubles” that lie ahead for us all.
Never before has a Three Year Plan been more difficult to set down while at the same time being more crucial than ever to have in place just for survival.
Regards
Brian Baldie
Principal
South Coast Business Brokers
brian@southcoastbusinessbrokers.com.au