Traditional banks are one source of financing when a small business owner is selling a business. But when you dig into the numbers, this is less true when the business is worth less than $3,000,000.
Every business owner wants to know “how much is my business worth?” Let’s be honest, you built your business and it is probably a big part of your financial net worth and maybe selling it is key to your retirement planning.
Digitalization is rapidly taking over society and an online presence is a must for any business. As a small business owner, you are always looking for ways to reach more customers and grow your revenue.
Ideally, as an owner, you want to ensure your business is not undervalued when the time comes to exit the business while a buyer doesn’t want to pay an inflated price. To achieve this, comparables are an excellent way to estimate the fair market value of your 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.
“At that point, I realized that I was going to have to tell the employees.” You might have put...