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Why have a business valuation? There are several reasons including;
- Merger - you are combining your business with another. Each party needs to know the value of what they are contributing to the new combined business
- Achieving your goals – undertaking a periodic valuation of the business can be a very effective way of evaluating your progress towards your financial goals.
- Capital development – valuing your business can help you determine where your capital is best used. Should you maintain ownership of your business at its current rate of return or should you sell it and invest the proceeds in another venture?
- Estate planning – when drafting your will you may want to leave certain assets (e.g. your business) to certain beneficiaries and at the same time ensure that the distribution of your wealth is equitable. Valuation of your business provides an “arm’s length” basis for evaluating the asset distribution among beneficiaries.
Cummings Flavel McCormack can value your business, the shares in your company, the units in your trust or a partnership share.
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