Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

December 11, 2016

State Spotlight: Connecticut

By Achim Neumann

Situated in Southern New England within a stone’s throw of New York City, Connecticut is an exciting place to start or acquire a business for motivated entrepreneurs.

Home to insurance compablue_back_square_in_west_hartford_connecticut_2_august_10_2008nies such as The Hartford and Aetna, and manufacturing firms such as Lockheed Martin, United Technologies Corporation, and General Dynamics, there is no shortage of economic activity in this state.

Why is Connecticut a good place to buy a business?

Every state has its share of economic challenges, and Connecticut is no different. However, when push comes to shove, there are a lot of advantages when it comes to setting up shop in the Constitution State. Connecticut is a great place to buy a business for the following reasons:

1) Proximity to major east coast cities

Sandwiched between Boston and New York, no place in Connecticut is more than a few hours drive from either of these cities’ downtown cores.

Both of these metropolitan areas are home to many millions of consumers, and countless thousands of other businesses.

With a customer base this deep, any hard-working entrepreneur with enough motivation and value to provide the marketplace stands a high chance of succeeding in Connecticut.

2) Deep pool of educated and skilled workers

Another advantage that Connecticut enjoys is its high density of elite post-secondary institutions. The top three colleges in the state are none other than Yale, the University of Connecticut, and Wesleyan University.

This is not meant to disparage the dozens of other schools that graduate scores of highly qualified young people every year; pooled together with the ivy league institutions, there are plenty of innovative bright minds to choose from in this state.

On top of this, labor dynamics in Connecticut are currently favoring employers. With the unemployment rate above 5%, they are presently more candidates available than positions, making it easy to fill roles with talented personnel.

3) Disposable income levels are high

Located within a reasonable commute from Boston and New York City, as well as being home to industries that pay their employee’s considerable salaries and wages, Connecticut boasts some of the highest levels of disposable income in America.

For a small business owner that relies on consumers for their revenues, having a customer base with plenty of money to spend is essential for long-term success.

So long as they are able to find a gap in the market to fill, entrepreneurs should be able to make a decent living in this state without much difficulty.

Conclusion

While start-up costs can be high in Connecticut, and intelligent tax planning will be essential to reduce one’s expenses to the IRS every April, the rewards of setting up in this state are too great to ignore for entrepreneurs that are positioned to make an impact here.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

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Client Testimonials

“I recently contacted A. Neumann and Associates about getting a valuation of my business done. I spoke with Marc, who explained the process in detail. After meeting with Marc in order to get a clear understanding of my business, and what I was hoping to accomplish. His patience in answering all my questions and his knowledge of the proper way to market my business gave me great confidence that this is the firm I will be using to sell my business for max value. Working with Marc at A Neumann & Associates was very easy and professional. I did not know all that was going to be involved in selling my business but they helped me through the process. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. I highly recommend this firm to anybody who wants to sell now or down the road. Marc not only knows his stuff, but actually is a real nice guy.”

Double Diamond

“Used A Neumann & Associates to sale my business. could not imagine having done it with out the patience and experience Gary provided. Thanks Gary,”

Dennis Frazier

“Working with Marc and his company was a pleasure. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. Marc handled most of the interaction and he has one of the greatest demeanors. Again, it was a pleasure working with him and his firm.”

Douglas DiCeglio

“I recently completed an acquisition using A Neumann & Associates. Tony Valentino was very helpful and accessible during the entire process. They do a thorough job vetting both parties and got us to the finish line.”

Srini Mudambi

“Claus out of Florida helped us with the sale of our business. We had never done anything like this and him and his team walked us through the process from start to finish. We had some challenges through the process and Claus continued to show up even in the difficult conversations.”

Colby Harris, Co-Owner, Del Mar Designs

“Claus Madsen thoroughly helped us with selling our company. From the 1st introductory meeting explaining to us what was possible, to providing us with resources to assist with the sale. Claus was invaluable throughout the whole sales process. Claus was with us every step of the journey and always made himself available for any questions or issues that came up along the way. If you are interested in selling your business, I encourage you to reach out to Claus and the ANA team so that they can let you know what’s achievable. These guys will make it happen!”

Ron Harris, Co-Owner and Vice President, Del Mar Designs

“A Neumann & Associates is the only business broker I would use or consult with. They have assisted with 3 business sales over the past 15 years with me. They are honest and sincere and have always performed better than my expectations. They are the only one i would use for the sales of my businesses.”

James Belanger, Business Owner

“I wanted to take a second to commend the exemplary customer service from both you [Karin Neumann] and Mr. Valentino. It’s both a rarity in the industry, and very much appreciated.”

Andrew G., Investor

“We worked with Neumann & Associates to investigate the purchase of a research company in 2010 and found Achim to be capable, forthright and realistic. His depth of experience enabled us to fully understand our options, offering creative options that might enable the acquisition. While we didn’t acquire that particular company at that time, we know exactly who to call whenever we’re looking to buy or sell a business.”

Daniel Coates, Buyer

“Purchasing a business through this firm was a pleasure. Gary was very professional and transparent throughout the entire process. I look forward to working with A Neumann & Associates in the future.”

William Klemens, Buyer
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Contact A Neumann & Associates, LLC

If you are considering selling your business, please contact us to learn more about our comprehensive service spectrum. Our experienced professionals will answer all your questions about selling a privately held business in complete confidentiality. Please fill out our contact form, or call us at 732-872-6777. We will contact you directly and will never identify ourselves to your employees.

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