Top reasons to consider buying an existing business:
Calculate the value of your business using these tips. There are many methods for business valuation but the goal is always to sell at the right price.
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:
Economically speaking, COVID-19 was a “natural disaster.” That’s according to Brian Beaulieu, CEO and chief economist of ITR economics. Beaulieu spoke at the virtual State of M&A conference hosted by Cornerstone Business Services in February, helping business owners and advisors understand the market ahead.
Learn the types of questions to ask when considering buying a business. They should be specific and give you a clear picture of what the business has to offer.
Years ago, when we were marketing a business for sale, we used to include a short note about why the business wasn’t transitioning to the owner’s kids. After all, if it’s such a great opportunity, why don’t the kids want it, right?
Any business owner contemplating an exit in the next few years should consider how potential tax changes could reduce their net proceeds from a sale. If Biden’s tax plans come to fruition, the capital gains tax rate could effectively double, from 20% to 39.6% for income exceeding $1 million
Learn more about what to look for in the financial documents when valuing a small business in order to determine its earning potential for you in the future!
As part of the Economic Aid Act that passed in December, the Small Business Administration will make borrowers’ payments for six months on new SBA 7(a) and 504 real estate and micro-loan programs.
Do you have an EXIT STRATEGY?
Among the most common mistakes business owners make, whether they been in business for years or are a new entrepreneur, is failing to have an exit strategy. Scott Bushkie was recently a featured guest on ExitReadiness Podcast to share his insights on this common mistake as well as other items that may kill a deal or prove costly. Listen and learn what you should be doing to prepare.