When you're ready to do it, you'll want to move swiftly, but plenty of factors can hold you back. A slow market, more sellers than buyers or uncertainty are some you can't control, but there are five in particular that you can.
From first-hand experience of this process, here are five ways to make your small business sale-ready.
Average businesses achieve a sale price based on a multiple of profit. Great brands set their own price. If your business has strengths beyond its balance sheet, you'll stand out for the right reasons. A solid online presence, including an impressive first page of Google, and a sterling reputation with countless loyal customers show a buyer there's huge potential for growth, which is probably why they'll be buying you.
Kentucky Chamber Celebrates 75 Years of Uniting Business and Advancing Kentucky | The Bottom Line
Democrat Harry S. Truman was president. Republican Simeon Willis was Kentucky's governor. Gas cost 15 cents a gallon, eggs cost 64 cents a dozen, the average annual wage was $2,500, and ENIAC — the first and monstrously large programmable, general-purpose digital computer — made its national debut.
For Kentucky's business community, the year also featured a particularly significant event — the incorporation of the Kentucky Chamber of Commerce. That official act followed more than two decades of work and planning focused largely on efforts to ensure the state's progress.
How This Entrepreneur's Accounting Skills Built Her 6-Figure Business
For any executive or entrepreneurial woman, you know that the pressures of business don't start and end in the boardroom. In addition to mergers and acquisitions and boardroom negotiations, you are also planning school lunches, attending parent-teacher interviews and reading 8 pm bedtime stories. At the same time, you try to find the time to care about her health and wellness.
Now, Nadine spends her time educating and helping professional C-suite level women navigate through the challenges of maintaining a high-pressure career, raising a family, and managing their health and well-being. Many women struggle with balance and the increased pressure within their role, and Nadine provides actionable and realistic strategies to find it.
Saudi non-oil business activity hits three-month high in April - PMI | Reuters
Business activity in Saudi Arabia's non-oil private sector hit a three-month high in April and employment grew for the first time in five months, a survey showed on Tuesday, as the kingdom shows signs of recovering from the coronavirus pandemic.
The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) rose to 55.2 in April from 53.3 in March, remaining above the 50 mark that separates expansion from contraction for the eighth straight month.
Navy looks to update business systems to improve vessel maintenance -- FCW
The Navy wants to update its business systems to mitigate submarine and other maintenance issues and delays at shipyards.
"Some of the business systems that we rely on at our shipyards are antiquated; things that use COBOL -- which is a programming language that was antiquated back when I was in college 30 plus years ago," Thomas Harker, the acting Navy secretary, told the House Appropriations Subcommittee on Defense during an April 29 hearing.
"We've got to invest in updating those systems. We don't have an electronic time and attendance system...we've got a lot of problems that we need to fix."
BUSINESS MONDAY: Affordable housing projects deal with skyrocketing costs and delays - The
Construction trades were quick to be labeled as essential services by Gov. Charlie Baker at the start of the COVID-19 pandemic. Nationally, construction spending totaled about $1.5 trillion in November 2020 , a record high, with spending on residential projects surging 3.2 percent last October. That demand created a sense of industry stability amid an unprecedented employment crisis.
Lumber prices have skyrocketed , costlier steel is in short supply, and appliances are backlogged .
Small Business Administration offering Restaurant Revitalization Fund
Months of lockdown due to the COVID-19 pandemic left a clear and devastating impact on many locally owned food and beverage businesses along the Gulf Coast.
As these businesses begin rebuilding, help could come in the form of the Restaurant Revitalization Fund. The fund was started by the Small Business Administration to offer assistance to food and beverage businesses that have been impacted by the pandemic.
Gulfport Public Information Officer LaShaundra Smith is encouraging all food and beverage business that qualify to apply. "The SBA has launched the Restaurant Revitalization Fund which is phenomenal because that is an industry that has been hit so hard during this pandemic. Between having to shut down their dining rooms or not having events where they can gain business, the fact that they are launching something like this is going to give people in food service a boost hopefully."
3 Ways Putting Relationships First Will Get You Ahead In Business
Here are three ways to develop business relationships, keep them at the forefront and manage them.
Initial rapport can be built quickly. The key is to listen more than you talk and prioritize the other person ahead of your desires. Business relationships are similar to friendships and romantic relationships in the way that other business owners want to build real connections with people they like. They should be approached the same way.
Mr. Beast, YouTube Star, Wants to Take Over the Business World - The New York Times
But unlike other YouTubers who have been satisfied with social media success, Mr. Donaldson wants more.
"I really want to be Elon one day," he wrote last year on Twitter , referring to Elon Musk, the chief executive of Tesla and SpaceX and one of the world's richest people. Mr. Donaldson later listed Mr. Musk as his " dream collaborator ."
To be more like Elon, Mr. Donaldson has been busy using his brand to make inroads in the business and tech worlds. He has launched a mobile gaming app and a " ghost kitchen " chain, MrBeast Burger , which has sold more than one million burgers . In March, he became an adviser to a financial network that provides business tools to online content creators. Last month, he signed a deal with a company to distribute his content across a range of social media platforms.
Washington County readies new round of small business relief grants | WDVM25 & DCW50 |
HAGERSTOWN, Md. (WDVM) — More than 1,000 Washington County small businesses have pulled down over $11 million in small business aid to weather the pandemic.
More help is on the way for some of those businesses. The county commission has approved the release of over one million dollars in four categories of funding. Small Business Development Director Susan Small invites eligible firms to apply for the latest round of grants
“We have one for food and beverage providers,” said Small, “one for accommodations and lodging providers, one for online sales and teleworking and then one for non-profit grants.”
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