There has never been a better time to buy or sell a business in the South Bay area. Opportunities to benefit from the boom that several industries are experiencing are plentiful and both the state of California and the Los Angeles metro area are offering numerous incentives to help businesses succeed in their midst.
Considered the largest major manufacturing center in the United States, Los Angeles area businesses manufacture apparel, computer and electronic products, transportation products, fabricated metal products, food products, and furniture. The city’s economic development officials say the last few years have yielded major economic expansion in Los Angeles and its three-tiered, traditional economy (aerospace, entertainment, and tourism) has evolved into a well-balanced, multi-tiered economic engine driven by unparalleled access to world markets.
You might be surprised to know that, in the United States, only Detroit produces more automobiles than the Los Angeles area, which is home to the “big three” US auto manufacturers, along with Honda, Mazda, Nissan, Toyota, Volkswagen, and Volvo. In addition, the manufacture of heavy machinery for the agricultural, construction, mining, and oil industries contributes significantly to the local economy. Los Angeles is also a major producer of furniture and fixtures, as well as petroleum products and chemicals, print material, rubber goods, electronic equipment, and glass, pottery, ceramics, and cement products.
The city also has the nation’s largest port in terms of value of goods handled and tonnage, and houses one of the largest banking and finance industries in the nation.
Other prominent industries in the Los Angeles area include health services, education, high-technology research and development, professional fields such as architecture and engineering, along with a large commercial and residential construction business sector.
Businesses that specialize in Los Angeles’s thriving sectors and those that serve them are in the perfect position to reap the benefits of a variety of programs administered by state and federal sources to stimulate economic growth. These include the Manufacturers’ Investment Credit, Partial Sales of Use Tax Exemption, In-Lieu Sales or Use Tax Refund, Research & Development Tax Credit, Net Operating Loss Carryover, Foreign Trade Zones, Recycling Market Development Zone, Childcare Tax Credit, Work Opportunity Tax Credit, and the Enterprise Zones, among others.
In addition, the Los Angeles metro area government actively links businesses to a network of opportunities including financing, tax incentives, real estate, low-interest loans, job training programs, permits, and more. It is also working to develop emerging industries in Los Angeles, such as the environmental technology and biomedical industries.
Financial incentives are available as well in Federal Empowerment Zones, State Enterprise Zones, and City Tax Free Zones. Businesses wishing to expand or locate in Greater Los Angeles will find assistance through the Los Angeles County Economic Development Corporation.
Further, small- or medium-sized business may be eligible for technical assistance at one of the six Los Angeles Business Assistance Centers (BACs), officials note. The centers are operated by community based organizations and/or local colleges and universities and are funded by the City of Los Angeles Industrial and Commercial Development Division (ICD). Assistance is provided through a combination of in-house counselors, school faculty and private business professionals.
How to Benefit from the Trend
At Transworld Business Advisors of South Bay, we focus on your specific industry to get the fastest and best results for you whether you are buying or selling a business. As part of the Transworld Business Advisor network which has specialized in the sale of businesses and commercial real estate for over 35 years, our professionals have years of experience in these transactions, and they are some of the most sophisticated in the business brokerage industry. Many have owned businesses and can relate to your specific needs.
We utilize the latest technology to research companies for buyers and present companies for sellers to business brokers and strategic buyers all over the world. This greatly multiplies the effort in your favor. With Transworld Business Advisors of South Bay, you have literally thousands of industry professionals selling your company or researching buying opportunities, yet your confidentiality is always respected.
We organize all necessary documentation and release information only as needed. We use limited information when advertising to maintain confidentiality. Potential buyers are pre-qualified and required to execute a confidentiality agreement before receiving any sensitive information concerning the sale.
For sellers, our process attracts thousands of buyers, creating competition for your business. Buyers are qualified for financial ability to meet the offer. We then reduce that number to only the most qualified buyers. Once you meet the best of the buyers, we urge them to prepare and present all offers.
Buyers of businesses are presented only with the best opportunities that meet their criteria.
Our service, dedication and drive is your guarantee that if you are prepared to sell your company or are interested in buying a company, we are ready to get the results you want. Let Transworld Business Advisors of South Bay help you every step of the way in buying or selling your business. Contact us at (424) 276-6116.