Business Transition and Valuation Session Overview
During this session, almost a dozen Boone County business owners learned about the importance of business transition and value planning, and how BCDA’s new Business Valuation Program can help them prepare for a successful transition.
Topics covered included:
- Why it’s important to create a business and transition plan.
- What you need to prepare your business for sale or transition.
- Stress test (How ready are you to begin planning?).
Participants in this session gained a general understanding of where their business falls in the transition process and what steps they should take to get their business ready to be sold.
Introducing BCDA’s Business Valuation Program
Over time, the BCDA office has received feedback from numerous Boone County business owners who need help transitioning their businesses to new ownership. Our office understands the importance of business continuation and helping to provide consistency to both community patrons and visitors.
BCDA’s new Business Valuation Program was created to help local businesses connect to the right planning process and resources for transition. Traditionally, business valuation reports can be costly. BCDA’s Business Valuation Program was established to help educate business owners and offset the cost of a valuation report.
BCDA’s Business Valuation Program Steps
- Attend the Introduction to Business Value & Transition.
- Schedule a One-on-One Consultation with Odee Ingersoll.
- Apply for a Business Valuation Grant through BCDA.
- Complete a Valuation Report with Pinnacle Consulting.
In order to receive eligible funds from BCDA for your business transition, you must complete all four steps in order. If you missed last week’s Introduction to Business Value & Transition session but would still like to participate in this program, please contact the BCDA office as soon as possible.