Well, here we are…it’s 2022.
You’ve survived the end-of-year parties, eaten your body weight in food at Christmas, had some time off with kids (well, some of us), and now you’re champing at the bit to get back to business.
And, even though work conditions are still not normal for many, there is an economic optimism that we’re about to turn the corner.
Right now, though, is the time of year that you should be reflecting on your business and looking forward.
What worked last year? What didn’t? Are there areas that could be improved? What’s your finances like? Is your business providing you with all you expected? And importantly, have you ever considered what the value of your business is at the moment?
In order to make the most of coming year and beyond, planning ahead should be a priority. And a business valuation is a great way to start.
Fortunately, The Financial Foreman specialises in helping businesses, especially tradies, to determine a business’s worth. So why do you need a business valuation?
An annual business valuation can be an important process for businesses looking to grow and scale, preceding a negotiation or partnership, or if you’re simply looking to benchmark or track your business’s progress.
How a business valuation can help your business
A business valuation is also a great way to:
- Improve your decision making for the future (with goals in mind)
- Provide business owners with a business Market Value & more assurance
- Help you to mitigate risk by focusing on the future
- Provide you with insight for non-business events (e.g. business succession, estate planning and divorce)
A business valuation is a worthwhile investment but there are many factors that can determine value. That’s where The Financial Foreman can work with you to assess your business’s worth.
Depending on the size of your business, the cost of a business valuation from The Financial Foreman ranges between $500-$2,000.
Three tips from The Financial Foreman
- Determine what you want to do/happen with your business (this year and beyond).
- Set a timeline.
- If you’re not sure of your business’s financial situation, we can help you to see the bigger picture.
You may be surprised at result so schedule a valuation today.
Call Josh at The Financial Foreman on (08) 7129 4433 and set up an appointment to arrange a business valuation and the impact it can have on your business.