Oct 10, 2017
No one wants to buy a house that’s in disarray. The same is true of businesses. Cleaning up your balance sheet before you put your business up for sale will save you time, money, and heartache down the line.
At O’Keeffe & O’Malley, we’ve found that many business owners think their financial house is in good order – but they’re actually opening themselves up to unnecessary giveaways. People often focus on the income statement and the earnings, which drive up the value of the business. But if you aren’t smart with your balance sheet, you may give away some assets.
Fine-tuning your balance sheet and getting some items off your books will benefit you down the line. Here’s somethings to look for.
Assets
Liabilities
Your balance sheet is just one of the many important details that can impact a sale and the proceeds to you. If you have questions or know it’s time for professional guidance, O’Keeffe & O’Malley can help. Give us a call at 913-648-1085 for a confidential meeting about selling your business.