The benefits of regularly undertaking a Business Valuation are many, but some key considerations are:
- A business valuation estimates the economic value of your interest in a business. It is usually used to determine the selling price, the amount needed to fund a buy-sell agreement, or to assign values to individual assets.
- Your business is probably your most valuable asset and will be an integral part of your retirement plan. It is critical to know how much of your business’ value will be available when you retire.
- If something unexpected happens to you or your business partner, it could burden your family with tax liabilities for your business. Getting a clear picture of the value of your business can help you prepare your estate plan and tax obligations.
Even though your business means the world to you, you also need to understand how the rest of the world perceives its value. It could make or break your plans for the future!
Why not give us a call to discuss your succession planning and business valuation needs.