10 Reasons For Business Valuation.
If you own a business, it is very likely your largest asset. For most owners, the business represents 60-80% of their net worth and 75% of business owners don’t know what the market value of their biggest asset is. A current and accurate business valuation is critical to the on-going success of your business and the well-being and financial security of your family. The following are ten reasons you need to know what your business is worth.
- To better understand your business and its potential.
- Get it ready to sell.
- Its your biggest asset. How can you plan for retirement if you don’t know what its worth?
- To facilitate Buy/Sell Agreements with business partners.
- In order to ensure that your business, your family, and employees are protected in the event of your death or disability.
- When considering funding opportunities.
- To plan for the future of your business with a qualified succession plan.
- When building a trust or creating an estate plan.
- If you plan to buy another business.
- To prepare for taxable events such as gifting or grants.