If You Are A Business Owner

If you are the sole owner of your business, what do you think your business is worth?  What’s the value of your assets – land, buildings, inventory, accounts receivable, goodwill, profits, etc.?  Question – could you sell the business for that figure?

The next question is what would your business be worth without you, in the event something happened to you?  Who would buy the business, and at what price and, how long would it take your family to sell it if they needed to?
​
If you own your business with a partner, have you considered what you would do if something happens to your partner or vice versa? Do your heirs or your partner’s heirs want to continue the partnership?
​
All of these questions need to be considered if you are a business owner.  Survivor planning, agreements and life insurance can go a long way in taking care of these “what ifs”.