Most small business owners have only a vague idea of what their businesses is really worth. And most of the ones who think they know are probably wrong. Professional appraisers who regularly conduct business valuations say that owners err on both sides. Some fail to include intangible assets in their estimate and undervalue what they've built. Others think their businesses are worth much more than reality would dictate. Even if your company isn't required to have a valuation, it is still important to the future of the business to know what it's worth.
Business owners often bring in an appraiser to prepare for a purchase, a merger or an employee stock ownership plan. Or a valuation might be needed for estate and gift tax returns, buy-sell agreements, litigation, tax challenges, divorce or many other purposes. Here are four more reasons to perform a business valuation:
The holiday season is filled with frenzy and excitement for businesses and consumers alike. Consumers prepare gift lists, compare brands and prices, and begin shopping with a vigor that is not present most other times of the year. For many businesses, the holiday season accounts for a large profit bump at the end of each year, and companies strive to exceed their goals and keep customers happy during this rush late in the year. more
There are a lot of possible reasons you might want to switch to a new phone system. The old one might cost too much or be too troublesome to operate and maintain. It might not be flexible enough. It might not be reliable enough. Or it just might not have the kinds of features and capabilities that you need in today’s competitive business climate. more