Is It Worth Getting a Valuation for Your Small Business?
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Question: I get solicitations from business valuation firms. What’s so important about business valuations? Do I actually need to get one if I’m not planning to sell anytime soon?
Answer: There are a number of valid reasons to get a professional business valuation. And really, assuming your small business is your family’s biggest asset—perhaps other than your home—isn’t it smart to have a realistic idea of what it’s worth? Recent research shows many small business owners are counting on their companies as nest eggs—they’re less likely to have diversified investments because they plan to retire on the proceeds of selling the business.