Small business acquisitions leveled off in 2023 as interest rates climbed, but 2024 looks better

By MAE ANDERSON
AP Business Writer

NEW YORK (AP) — Small business acquisitions were up and down last year, reflecting the increase in interest rates that threw a chill into the market. But a strong fourth quarter, helped by a signal from the Federal Reserve that it was done raising interest rates, could bode well for 2024. Overall, the number of small business acquisitions were largely unchanged in 2023, according to business marketplace BizBuySell’s Insight Data, which tracks and analyzes U.S. business-for-sale transactions. A total of 9,093 businesses were reported sold on BizBuySell in 2023, up less than 1% from the 9,054 businesses sold in 2022.