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Many business owners are emotionally attached to their businesses, and it is easy to understand why. Typically, business owners invest not only a considerable amount of time and money into their business, but a good bit of themselves as well. Owning and operating a business often becomes part of one’s identity. However, the fact is that no one will work forever, as retirement eventually comes for almost every business owner. With this in mind, it is important to prepare for

If you’re considering selling your company in 2022 or beyond, the time to begin exit planning is now. It can take 18 months or longer to successfully sell a business. The more time you have, the more successful your exit plans are likely to be. Meeting with an advisory team can help you identify areas for improvement in time to make a meaningful change in the value of your business and its ultimate sale price—especially as COVID-19 related economic uncertainty

There is a considerable difference between determining the value of a privately-held company and a publicly-held company. Topping the list of considerable differences is the fact that privately-held companies do not have audited financial statements. Let’s look at how the owners of privately held companies should proceed in establishing a reasonable price for their company. An audited financial statement is a costly endeavor. In order to avoid the cost, many companies simply don’t go public. Of course, it should be