Analyze the overall worth of your business.
It can be difficult to accurately determine the value of your company. Figuring out a dollar amount to assign to your business requires carefully examining many factors that can have extensive financial implications.
A business valuation is a formal estimation of a company’s economic value, and a valuation can become necessary in many different situations. For example, a valuation may be needed prior to a potential sale, to establish the value of shares, before divorce proceedings, or when obtaining insurance coverage.
It is not always beneficial to put the value of a business at too high of an amount to stretch the sales price. At BlueRock Wealth Management, we partner with business valuation experts who can help you determine the fair market value of your business. They will base your business’ value on both current and historical financial value, finding the value that will be considered acceptable by the CRA for tax and other purposes.
During the business valuation process, our partners will conduct an in-depth review of your business and its operations that considers many different factors. Some of these will include cash flow planning, your operation’s flexibility to manage future growth, retirement and succession planning, valuations acceptable by the CRA, and other important factors.
In the eyes of potential buyers, the CRA, insurers, lawyers, and others involved with your business, a lot can rest on the overall value of your operation. To learn more about the business valuation process and what this looks like for your business in Barrie, Ontario, contact us today.
At BlueRock Wealth Management, our partners can assist with business valuations in the Southern Georgian Bay Region, including Collingwood, Creemore, Thornbury, and Wasaga Beach. We also serve most of South and Central Ontario, including Toronto, Oakville, Burlington, Kitchener, Waterloo, Guelph, Caledon, Barrie, Orangeville, Saugeen Shores, and Owen Sound.
