Complements of Business Brokerage Press
Many executives of both public and private firms get a physical check-up once a year. Many of those same executives think nothing of having their investments checked over at least once a year - probably more often. Yet, these same prudent executives never considering giving their company an annual physical, unless they are required to by company rules, ESOP regulations or some other necessary reason.
A leading CPA firm conducted a survey that revealed:
- 65% of business owners do not know what their company is worth;
- 75% of their net worth is tied up in their business; and
- 85% have no exit strategy
They are many obvious reasons why a business owner should get a valuation of his or her company every year such as partnership issues, estate planning or a divorce; buy/sell agreements; banking relationships; etc.
No matter what the reason, the importance of getting a valuation cannot be over-emphasized...
To learn more... click here to read the full article.
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