There’s been lots happening in the news recently, and with coronavirus dominating the headlines, it’s easy to miss some of the key business news that could affect the dental market.
Obviously, the overall impact coronavirus will have on the UK economy is still unclear, however, what we do know is that The Bank of England has yesterday announced a reduction in interest rates from 0.75% to 0.25%.
What does this mean for the dental sales market?
With interest rates at their lowest since 2008, what we do know is that now is a good time to approach the banks for funding. Banks are continuing to offer good terms for any borrowing to support a dental practice purchase and with 14 banks actively lending to the dental sector, the outlook for the dental market remains positive.
This positive outlook is backed up by the fact that we currently have over 5,000 dentists registered with us looking to buy a dental practice – an all-time high.
Our valuations diary is also continuing to be booked in advance as practice owners progress with their plans to sell in 2020. This coupled with a strong demand for practices as buyers still see a dental practice purchase as a sound investment, means that the sales market remains stable despite the current concerns about the economy and media headlines.
If you’d like to speak to one of our expert team about your dental practice sale, please give us a call on 0330 088 1156.