(August 23, 2018) For many business owners, the value of the business represents one of owner’s largest assets and comprises a significant portion of their personal net worth. However, many do not know the value of their business due to the high cost and time requirement to obtain an objective valuation. Just as importantly, few have determined how to best monetize or use this asset to fund their personal retirement. We have a streamlined, cost-effective solution…..click here to explore it further.
According to the Small Business Administration (SBA), small businesses have less than 500 employees (in the manufacturing industry) or generate less than $7.5M per year in revenue (in the non-manufacturing industry). Yet, small business represents 99.7% of all employers, employs 53% of workers, and contributes approximately 50% of GDP. On an individual level, roughly 1/3 of the wealth of high-net worth individuals ($5-10M) is the equity in their business. It’s clear that small business is a primary driver of economic output and proper utilization of this asset will impact the retirement success of the owners.
If you are a business owner and would like to learn more, please go here or contact us at (913) 681-0215.