If you’re considering buying a business in 2023, it’s important to understand the current market outlook. According to a survey of business brokers, in the first quarter of 2023 most (42%) think the current market favors business buyers and 29% believe it’s balanced. This means that buyers may have more leverage to negotiate favorable deals, while still facing some competition for potentially desirable businesses.

However, it’s important to keep in mind that the market can shift quickly and it’s always important to do your due diligence before making any major business decisions. Factors such as industry trends, economic conditions and local regulations can all impact the market in unpredictable ways. Working with a reputable business broker or other professional can help you navigate the market and increase your chances of making an informed and successful purchase.

In addition, buyers should take other factors into consideration beyond just the market outlook. For example, do you have the necessary skills and resources to successfully run and grow the business? How will the purchase impact your personal finances and long-term goals? These are all important questions to ask yourself before making a commitment.

Overall, the current market outlook in 2023 suggests that buying a business could be a smart move for some buyers. However, it’s important to weigh all the potential risks and benefits and seek professional guidance when making such an important decision.