THE OPERATION OF THE SME TRANSFER MARKET

•One tentative estimate places the incidence of transfer failure at around 100,000 per year, although many of these ‘failures’ involve micro businesses, with few assets or employees, and which may not be viable candidates for transfer. Through a literature review, focus groups with those buying and selling businesses and intermediaries in the process, as well as separate surveys of both buyers and sellers this study aims to provide a better understanding of the operation of the UK market for the buying and selling of SMEs.[...]

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Year of publication:	2007-07-01
Authors:	Allinson, Gordon ; Braidford, Paul ; Robson, Paul ; Stone, Ian
Institutions:	Great Britain / Department for Business, Enterprise and Regulatory Reform
Published in:	Department for Business, Enterprise and Regulatory Reform - Globally Competitive Business Environment - 2003 to 2008 Reports
Subject:	Preisbildung \| pricing \| Klein- und Mittelbetrieb \| Marktversagen \| market failure \| Transfer \| transfer

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Executive Summary
1 Introduction
1.1 The research project
1.2 Size of the transfer market
1.3 Types of market failure
1.4 Purpose of study
2 Scoping business transfer issues
2.1 Market options for buying and selling
2.2 Factors affecting transfer
2.3 Matching databases
2.4 The borrowing environment
2.5 Using intermediaries
2.6 Targeting policy: segmenting the market
3 Focus groups findings
3.1 Use of intermediaries
3.2 Routes to selling and purchase
3.3 Policy options to address market failure
4 Survey of exiting owners
4.1 Profile of sample
4.2 Types of exit
4.3 Form of Exit
4.4 Determinants of exit decision
4.5 Finding a buyer
4.6 Employee buy-outs
4.7 Experience in relation to expectations
4.8 Policies for improving transfer
5 Survey of buyers
5.1 The sample
5.2 Why buy?
5.3 Use of intermediaries
5.4 Finding a business to buy
5.5 Buying the business
5.6 Experience in relation to expectations
5.7 Post-transfer performance
5.8 Differences by area of the UK
5.9 Policies to improve transfer
6 Conclusions on market failure
7 Policy and further research
7.1 Policy indications
7.2 Further research
References
Appendices

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