Business Valuation: Book Value is NOT Fair Market Value
As a closely held business owner, you should already know that the value of your business is an important factor that is considered in many financial transactions including credit and bonding purposes and for business succession agreements. Yet, many business owners fail to consult with independent valuation firms to determine the fair market value of the business, and instead, rely upon book value. One of the common objections to obtaining a valuation is the cost of the service. Here’s a cautionary tale of how spending modest sums on a business valuation and monitoring your buy-sell agreement, may save you on millions of dollars!
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