Boone County Development Agency
Business Value & Transition
Boone County Development Agency, in partnership with the Nebraska Business Development Center, has created a program available to Boone County businesses who want to learn more about how to properly value and transition their business.
At some point, every business will need to transition.
By planning sooner you can create an easier path to new ownership.
The reality is, successfully leaving a business requires planning and time – three or more years for a sale and perhaps longer for a family succession. The sooner an owner begins to plan the better the odds are of success.
BCDA's 4-Step Business Valuation Program
To help local businesses connect to the right planning and resources for transition, BCDA has launched a Business Valuation Program. By committing to a few simple steps, your business can qualify for the program, which includes a $1,000 grant to help offset costs associated with an official valuation report.
1
Introduction to Business Value & Transition
All businesses interested in taking steps toward transition must attend an introductory session. This two-hour commitment will help you determine if this is the right time to begin planning for either selling or transitioning your business to a new owner.
2
Schedule a One-on-One Consultation
Interested business owners that attended the informational session can schedule a one-on-one consultation with the Nebraska Business Development Center. During this time, you can ask questions and receive guidance to help you plan for the future.
3
Apply for a Business Valuation Grant
Following the consultation, qualifying businesses will be encouraged to apply for a matching ($1,000) grant from BCDA to complete a valuation report for their business. BCDA will connect approved businesses with Pinnacle Consulting to complete their valuation.
4
Complete a Valuation Report
Business owners will work with Pinnacle Consulting to complete a Valuation Report, which is a key step toward transition. Each business will be responsible for half ($1,000) of the report fee and BCDA will provide a $1,000 match.
Why This program Matters
BCDA is committed to supporting business development and transition to help our local businesses keep their doors open. However, as we continue to work with business leaders, we believe there is a need for greater education and support through the business sale and transition process.
This is the first step toward helping Boone County businesses gain the information needed to effectively plan, seek resources and execute the right path for their future. Local businesses are invaluable to our quality of life and we’re working toward keeping our downtowns and business districts thriving.
FAQs
Any Boone County business interested in learning more about the process and resources available to assist with Business Exit, Transition and Valuation.
In order to receive your final Business Valuation Report, the total cost is $2,000. However, BCDA is offering grants of $1,000 to qualifying Boone County businesses who complete the 4-step program.
Transitioning a business requires appraisals, inventory valuations, training, professional fees and many more added expenses which can cost thousands of dollars. This info session is the first step in BCDA’s Valuation Program. Upon completion of this four step program, Boone County businesses are eligible to receive funds from BCDA to help offset business transition costs.
If you were unable to attend the info session that took place on April 6th, please contact the BCDA office so we can provide you with other arrangements to participate in the info session.