Did you know that the Great Lakes economy is the third largest in the world in terms of GDP? This economy, including eight states (Michigan, Wisconson, Minnesota, Illinois, Indiana, Ohio, Pennsylvania, and New York) and two Canadian provinces (Ontario and Quebec), produces an annual GDP of $6 trillion in U.S dollars. Despite it being spread across two countries, the Great Lakes economy is highly integrated. Every year, there is “$278 billion in bilateral U.S.-Canadian trade in the Great Lakes area – more than the entire region trades with countries like Mexico, China, UK, Germany and Japan combined.”
The Great Lakes economy has created 51 million jobs and is well known for its manufacturing. The Big Three dominated the sector for decades, but the economy is much more diverse now, comprised of industries like education and health, agriculture and food production, mining and energy, shipping and logistics, and finance and medicine.
Calder Capital is situated in the center of this economy in Grand Rapids, Michigan, and we represent business owners and investors in many of these industries and states. Closer to home in West Michigan, the economy is even stronger and the economic outlook is promising. The Short Term Business Outlook for September, forecasting for the next three to six months, remains a 30, and the Long Term Business Outlook improved from a 39 to a 45. The hurricanes that the U.S. experienced in September have increased the demand for a number of manufactured goods, including automobiles, as people in Texas, Florida, and elsewhere replace what was damaged. This will have an impact on the Great Lakes economy for the next year at least.
If you are wondering if now is a good time to invest in the Great Lakes economy or to sell your business as you move towards retirement, we are happy to inform you that it is. In the United States small business sales have increased for the past several years. 2016 was better than 2015, in fact. Here at Calder Capital, we have brokered successful sale after successful sale for our clients in 2015, 2016, and in 2017. Year to date, as of September of 2017, Calder has facilitated the sales of 9 businesses, and we have five more under a letter of intent (LOI). We anticipate that these business sales will be completed in the fourth quarter of 2017.
If you are looking for a promising business opportunity now, please browse our listed opportunities page. We represent both sellers and those looking to acquire businesses in different industries. Calder Capital’s sister company, River City Partners, also offers a discounted commission M&A service offering for smaller businesses. If you would be interested in learning more or listing your business through RCP, please visit the River City Partners website.