All You Need to Know About Fiscal Cliff and Its Probable Consequences

By Guest Blogger Tim Robinson. Fiscal cliff is a financial situation that is due to be implemented from the first day of the next year. The fiscal cliff would be characterized by tax hikes and spending acts primarily. Though the Americans are hoping with all their hearts that, the Congress and the president himself would come in terms to avert this situation, there are little chances that such a thing would happen. It is undoubted that the fiscal deficit is going to bring the ultimate kind of financial disaster and the American economy shall fall “off the cliff”. As a result of the implementation, the tax increase would reach a height, which has remained hitherto unforeseen. There will be an obvious and perfect strangling of both personal as well as national economy. A number of researches have been conducted in order to figure out, the effects of the fiscal cliff. A recent report from the CBO or the Congressional Budget Office says that the fiscal cliff will lead the United … [Read more...]

Selling Your Business? Expect the Unexpected!

Selling Your Business? Expect the Unexpected! According to the experts, a business owner should lay the groundwork for selling at about the same time as he or she first opens the door for business.  Great advice, but it rarely happens.  Most sales of businesses are event-driven; i.e., an event or circumstance such as partnership problems, divorce, health, or just plain burn-out pushes the business owner into selling.  The business owner now becomes a seller without considering the unexpected issues that almost always occur.  Here are some questions that need answering before selling: How much is your time worth? Business owners have a business to run, and they are generally the mainstay of the operation.  If they are too busy trying to meet with prospective buyers, answering their questions and getting necessary data to them, the business may play second fiddle.  Buyers can be very demanding and ignoring them may not only kill a possible sale, but will also reduce the purchase … [Read more...]

Why Sell Your Business?

Why Sell? There are a number of different explanations why selling a business can possibly be an emotional event. The business may have been in the owner's family for generations. The owner may have built it from scratch or purchased it and then poured the necessary energy into it to grow it into a successful, profitable business. For these and many other reasons, "seller's remorse" is actually one of the major causes of a deal falling through. However, despite the emotional ties to a business, there are times when selling is the best course to take. Here are just a few examples of those times. Burnout According to industry experts, burnout is a major reason owners consider selling their businesses. In time, the long hours and 7-day workweeks can take their toll. On the opposite end, business owners who thrive on challenge may get to the point that the business has just become boring - the challenge of creating it or growing it has been replaced with the mundane daily … [Read more...]

Rating Today’s Business Buyers

Once the decision to sell has been made, the business owner should be aware of the variety of possible business buyers. Just as small business itself has become more sophisticated, the people interested in buying them have also become more divergent and complex. The following are some of today's most active categories of business buyers: Family Members Members of the seller's own family form a traditional category of business buyer: tried but not always "true." The notion of a family member taking over is amenable to many of the parties involved because they envision continuity, seeing that as a prime advantage. And it can be, given that the family member treats the role as something akin to a hierarchical responsibility. This can mean years of planning and diligent preparation, involving all or many members of the family in deciding who will be the "heir to the throne." If this has been done, the family member may be the best type of buyer. Too often, however, the difficulty … [Read more...]