Understanding Value
Good business practice includes knowing what your business is worth in the open market at a point in time.
As a property owner it is easy to understand where your home would value in the market (to some degree) however, by talking with real estate agents and keeping up to date with a CMA you will also know.
Understandably, it does cost money to have a professional valuation undertaken, however, having a valuation undertaken to understand the value of your business every two years, will provide you with inside knowledge into the current sales market, your own business and also helpful best business practices.
Knowing your value will help you to make key business decisions and have open conversations with your financier and accountant to plan better for your future.
