Usually when a business owner gets a business valuation for their business, it is because they are trying to sell their business in the future, or they are looking an expanding or merging with another company. With a business valuation, Weeki Wachee business owners can have a rough estimate of how much their business is worth including their assets and belongings so that they will have a better and fairer opportunity when dealing with sales. Even if you do not plan on selling your business or expanding it, it is still a good idea for a business owner to get a business valuation.

Insurance purposes

If a business owner does not think it would be a good idea to have their business valued, they might want to reconsider. With Business Valuation, Weeki Wachee business owners can have better luck in filling for insurance claims in the event of a disaster or misfortune. In the state of Florida, hurricanes are a big problem every year, and if one makes landfall, it can cause a lot of damage. If your business is valued at a specific amount, an insurance company would have to give you something that is close to that number.

Divorce Complications

Although this is not a direct business link, a divorce can cause a business owner to have to give up half of their assets. With a business valuation, Weeki Wachee residents will know exactly how much their business is estimated at, and can infer how much should be given to the other person in the relationship. It is important though that you have two independent valuations of the business to assure that the value is accurate and no one is getting cheated but are treated fairly.

*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of Suncoast CPA Group*