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Should You Do A Business Appraisal? Businesses appraisals are the economic analysis or professional engagement to be able to carry out business valuation to be able to determine the actual worth of the business, certain business assets or professional practice. They’re an important tool in the arsenal of any business owner and have to be taken into consideration from the very beginning throughout the lifecycle of the business. As a matter of fact, there are good reasons for why it is important to get certified business appraisal and these are: Reason number 1. Your business is in startup stage and you have to value it to be able to determine how much of it you’ll need to give to your investors in exchange for the seed money.
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Reason number 2. Say that you have successful established your business and need to show them either quarterly or yearly updates to investors or stakeholders, this can be beneficial to them in having a clearer picture of the financial status of the business. This therefore shows them what’s the actual worth of their investment.
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Reason number 3. You might find the opportunity to sell or merge which must be quickly decided. It will let you make the most of every available opportunity by having an updated business appraisal. Reason number 4. To be able to figure out the buy-in price, you need to take on a new partner and have to know the worth of the business. Reason number 5. With the broad number of fundraising options that small businesses can take, it is vitally important to be well aware of the value of your company prior to starting fundraising. Reason number 6. You might want to build or expand new facilities and presenting your business appraisal to the bank can help a lot in making them decide to lend you money. Reason number 7. Business appraisal is vital as well in knowing the annual per share value of Employee Stock Ownership Plan or simply as ESOP. When you want to share ownership of corporation with employees, ESOP is used in it as well. Reason number 8. For the gift tax planning purposes similar to donation to a charity, interest to family members, transfer to intentionally defective grantor’s trust and the likes, having an accurate business appraisal is so important. Reason number 9. Appraising a business is also crucial for a number of litigation support purposes like for instance, determining economic damage, uncovering value of a business in partnership or shareholder dispute, frauds, lost profit and so on. Reason number 10. With such, it’s possible to identify whether the business is growing, declining in value or stagnant or not. Regardless whether you have a business or just starting up, see to it that it has an accurate appraisal.