When you decide to close your business, whether the decision is based on plans for retirement or economic factors, taking a deliberate, methodical approach to dissolve a business is very important.
Learn your options, essential terms and more!
Three Tips For Getting Your Financials Ready To Share With A Buyer
The tax returns serve as a legal, objective verification of the amounts that you claim your business has earned. A potential buyer will want to see federal income tax forms that document your company’s gross sales as well as its net profit or loss.
What is a multiple and how does it apply to what a business is worth?
Like any small business owner, you want to know how much your business is worth. Once you receive an estimate, the next question may be, “how was this calculated?” A multiple is a number you would use when calculating the value of a business.
Retiring Boomers And Their Impact In Small Business Transition
We are currently in the midst of the silver tsunami. That is, entrepreneurs aged 55–73 years old who are part of the Baby Boomer generation, are now retiring from their businesses or are currently in the stage of transitioning their businesses.
Does It Make Sense To Sell Your Business To A Competitor?
Preparing to sell your business can be an emotional rollercoaster ride, and the last thing you may consider during this time is selling your business to a competitor.
Why I Started ExitGuide
In the spring of 2020, I heard a story on the radio about baby boomers that want to retire yet are struggling with exiting their small businesses. As an entrepreneur, this struck me as odd – how can this be an issue? A few hours later I was searching online for more information and was shocked at the magnitude of the issue.
Business Continuity Plan
No one expects it but unforeseen circumstances do happen and cause major disruptions to your ability to run a business. So if these situations happen, do you have a plan?
Take These 3 Steps To Prepare For Exiting Your Small Business
Most small business owners aim to sell their business someday. According to a PNC Bank survey, 78% of owners plan to sell their business to fund between 60% to 100% of their retirement.
5 Must Have Items To Exit A Small Business
Running your business takes a lot, often there is little time for much beyond the day-to-day while...