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Why is knowing the value of my business important?
Peter Williamson (Photo: Digiman Studio, provided by NCET)
UBS recently noted in their On-Air podcast that “78% of business owners expect to fund their retirement through their business — but 95% don’t know what their business is worth.” And today, in our COVID world, business values are often quite different than a just few months ago.
Here are five reasons it’s important for you to know what your business is worth:
1. For most owners, your business is your largest asset. To make meaningful financial plans, you need to know your true net worth,