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Helping Business Owners Understand Their Financial Statements
There is no doubt that the current recession is as long and as hard as we’ve seen for many years. And hopefully we will not get to see again for quite some time. If you are a business owner whose business is not making a profit and you don’t have the capital to invest and keep the business going, you may be wondering about your options.
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Thinking of Buying Or Selling Your Business in the New Year, How is Your Transition Plan?
The process to sell a business is not a quick and easy matter. At the moment it is taking about 8 months to sell a business, if it sells. This means the business sits on the market for about 6 months before finally getting an offer from a buyer. Once the negotiations finish, due diligence commences and closes and escrow opens and closes we arrive at the 8 month period. And this applies if the business sells. Depending on which statistics you read, approximately 75% of businesses never sell.
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If You’re Thinking of Buying or Selling Your Business in the New Year, How is Your Performance Plan?
An area that a lot of businesses don’t spend a lot of time measuring but is very easy, cost effective and critical to do is the key performance areas of the business. These key performance areas or metrics can show whether the business has all the parts working together and in a healthy manner or is in need of a tune up or radical surgery. There are a number of key areas to a Performance Plan so let’s break them down.
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Understand Your Tax Position Before Selling Your Business
You’re a business owner who is thinking about selling your business. You’ve been doing this for many years but it’s time to retire, there is a health reason for selling, you’re burnt out, it’s time to sell this business and move to a bigger and better idea that you have.
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