Helping Small Business Owners Grow & Sell Valuable Businesses
One Question at a Time
You’ve invested in Search Optimizing your website with better content, meta-code, and Social Media links. Traffic to your site has increased, and you’ve even started to receive more calls and orders. What’s next? The first thing to realize is that SEO is an open-ended process that is never really complete. It comes with victories and setbacks, and you need to be vigilant about the ways in which your web visitors interact with your site.
According to the Chief Actuary of the Social Security Administration, “Currently, the Social Security Board of Trustees projects program cost to rise by 2035 so that taxes will be enough to pay for only 75 percent of scheduled benefits.” This bleak reality is not of great concern to the successful entrepreneur who may not need to rely heavily on social security benefits retirement. Yet, any potential reduction in social security benefits in the future is a serious threat to the well-being of the 28 million small business owners in America.
Obtaining financing from a bank or lender for your small business can be quite the task. That’s why it’s important to know when it’s the right time to do it. You may not get the results you want if you do it at the wrong time. Depending on your business goals and objectives, you may want to borrow money right away or bootstrap for as long as possible and borrow money later on down the line. Below are 4 questions you should ask yourself (and answer) to determine if you’re ready to borrow money for your small business (especially if it is a startup).
When things go wrong with the sale of a business the parties involved look for remedies in the liquidated damages provisions established in the purchase agreement. Such provisions are included when a purchase agreement has been signed in advance of an actual closing when the business is transferred and a purchase price is paid.
When a business is about to be sold, the parties to the sale may find it beneficial to establish an escrow agent to handle the transfer of certain assets and cash between the buyer and seller. Many times the parties agree to use the escrow account held by one of the party’s business attorneys. However, in many cases the parties prefer to hire an independent escrow agent to handle the assets and cash that will change hands.
What is ExitPromise?
We help small business owners grow and sell valuable businesses by answering questions, offering access to articles, research-based whitepapers and tools. With one eye on the ultimate transfer or sale of your business, we help you keep your “Exit Promise”.
Our website was founded by Holly Magister, a self-diagnosed serial entrepreneur. Holly successfully built and sold several businesses of her own, and she’s helped dozens of others do the same (she’s also a CPA, and a Certified Financial Planner specializing in Exit Planning). Our team of contributing authors is the best in the business, sharing best practices and practical tips to help you improve your businesses. Most importantly, ExitPromise offers unbiased information to its visitors. We’re not selling business plans, professional services, or insurance products nor do we bill in six-minute increments! In fact, we don’t bill at all. ExitPromise is Free.