Your accountant should be looked at as a valuable member of your professional team. A qualified accountant can provide you with advice on your accounting system, tax planning, estate planning, and financial management. What should you look for when choosing the right accountant? Use the 50% Rule – make sure that at least 50% of your accountant’s clients are small business owners. And, if the accountant has other similar business owner clients, this would be a plus. Referrals – one of the best ways to find a good accountant is to ask other business owners who they … [Read more...]
5 C’S of Lending
What Does a Lender Look For? The 5 C’S of Lending Lenders and investors look not only at the business numbers when making a loan but also take into consideration intangible things. These intangible considerations are often referred to as the five C’s: 1. Character – it is important to the lender that the borrower has a good track record of fulfilling obligations and following through on promises. Lenders want to know that the borrower is honest and of good integrity. The lender gets an initial impression of a borrower’s honesty by matching up the assets and liabilities stated in the … [Read more...]
Business Pre-Sale Checklist
Most business owners, agonize about selling their business for a few years before making the final decision to move forward and offer the business for sale. A serious look at the business to identify areas in need of improvement should take place once the decision to sell has been made. With each item that needs improvement, you will need to determine the cost and time necessary to improve and if you will make the improvement or would rather offer at a lower price allowing the buyer to make needed improvements. We have provided a simple Business Pre-Sale Checklist to help you identify … [Read more...]