The closing day was set, and we just needed to finalize what should have been a few minor details. Then, at the eleventh hour, the buyer’s accountant asked for a particular point of negotiation that would have cost my client $300,000 in tax implications—or roughly 10% of his takeaway.
We’re just a few weeks into spring and that means it’s time for spring cleaning, at home and at work. I only wish my clients did a regular housekeeping. It would make due diligence and the whole business sale process a lot smoother. Here’s what I mean:
President-elect Joe Biden has made it clear that corporate tax rates, and taxes on high net worth individuals, will increase under his administration. Just how many of those plans will come to fruition, and how quickly, is unknown.
As we continue to take companies to market during COVID, we’re asking new questions about business response plans and resilience. It’s been interesting to see the different attitudes and approaches
Cue the scary Halloween music. When selling your business, you can expect to hit a couple of snags before the deal is complete. But proper planning can help you avoid the most common “deal killers” like these:
When it’s time to sell your business, you may have multiple buyers to choose from. You could receive offers from strategic, financial, and individual buyers.
We’ve been talking to private equity groups around the country to keep a pulse on where the M&A market is at right now. And the message we keep hearing is that these firms are “open for business.”
Leaders who can keep people engaged and motivated in times of crisis are those who will inspire greatness under any conditions.
Talk to anyone trying to buy a house right now and they’ll tell you competition is tight. In certain price ranges, buyers need to put an offer in fast (like the day it’s listed fast) and should expect stiff competition. According to data from Zillow, new for-sale listings are down about 25% over a year ago but house values are up 4.3% year-over-year.
Many business owners have preconceived notions about who will buy their business or whether it’s even salable at all. A lot of owners think their most likely buyer option is the competitor down the street. Maybe that was true, once upon a time. But the M&A world has changed dramatically—and continues to evolve.