Why Business Appraisal Is Important? 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. Truth is, this is an extremely important tool in the arsenal of any business owner and should be taken into mind from the very start throughout the business’ lifecycle. 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 currently in startup and you must value it to know how much of it you would need to give to your investors in exchange for the seed money.
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Reason number 2. If you have established your business and have to provide either quarterly or yearly updates to investors or stakeholders, then this can give them with a clearer picture of the business’ financial status. Therefore, this shows them what is 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. You may want to take on a new partner and need to know the worth of business to be able to figure out the buy-in price. Reason number 5. With the sheer number of fundraising options in which small businesses can take, it is so important to be 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 important as well to be able to know the annual per share value of Employee Stock Ownership Plan or simply as ESOP. ESOP is used when you want to share ownership of corporation with employees. Reason number 8. For gift tax planning purposes such as donation to a charity, interest to family members, transfer to intentionally defective grantor’s trust and the likes, it is crucial to have an accurate business appraisal. Reason number 9. It is crucial for many 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 to appraise a business. Reason number 10. With such, it will be feasible as well to identify whether or not the business is growing, declining in value or stagnant. Regardless whether you have a business or just starting up, see to it that it has an accurate appraisal.