Source: US News & World Report Registering with Financial Crimes Enforcement Network Many U.S. small businesses will need to register with an agency called the Financial Crimes Enforcement Network (FinCEN) by Jan 1, 2025 as part of an act passed in 2021 called the Corporate Transparency Act. The act was intended to get a look …
In the marketplace of Main Street types of businesses (generally ranging in total annual sales up to $2 million) the length of time it takes for a business to sell under confidential disclosure conditions stays fairly even over time. A recent market survey of business brokers reports that it takes, on average, about 9 months …
Dec. 21, 2023: Selling days stay relatively even Read More »
What Is The SBA Loan Guarantee Program? The Small Business Administration (SBA) loan guarantee program is a federal government program aimed at helping small business by offering local banks federally-backed loans to qualified borrowers. What Can the SBA Loan Program Do for A Borrower? 3 Main Lending Program Types (1) 7(a) Program (2) 504 Program …
The Main Street market is rarely affected by the larger deal making environment. For example, over the last 40+ Market Pulse surveys, the median multiple for businesses valued under $500,000 hasn’t shifted beyond 2.0X to 2.3X. However, we’re seeing a resurgence in value in the $5 million+ sector. It’s worth noting that the Q3 2021 …
Industry News from the IBBA Quarterly Survey – 3Q 2023 Read More »
Things are not always what they might seem to be. I once sold a wooden truss manufacturing company to a buyer who had worked for 15-20 years in sales for a well-known copier company. That was the sum of his experience.
A recent article from the U.S. Small Business Administration entitled “Buy an existing business or franchise” discusses the process of how to successfully buy a business or franchise. It is important to follow a thorough process in order to achieve a successful acquisition. Know the difference between franchising and buying a business – Franchising gives you more guidance …
Franchising & Buying a Business: Know the Difference Read More »