subject: How To Go About Getting A Business Appraisal [print this page] All business owners will want to get a business appraisal at some point or another. Whether they are thinking of selling their company, looking for venture capital or planning for taxes, it is important to know the value of the business one owns. So where does one start and how does one go about it? First, it's important to seek a professional who is qualified to do such a task. This might include CPAs, business brokers, bankers, business consultants or lawyers. It is incredibly important to choose someone who has experience with this as getting the correct estimate can mean saving hundreds of thousands of dollars in the long run.
The first step in getting a business appraisal is to spread the word through business associates. Getting a reference from someone that is known and trusted is priceless. It means they have had the experience of working with the professional in question and there is much less risk of hiring someone who is not going to do a professional job.
The second step in getting a business appraisal is to check for someone with outstanding credentials, references and experience. Nothing less should do. Someone who has never done a business appraisal before is someone that should not be selected. This logic seems unfair; however, if a novice gets it wrong, it could be an expensive situation. Indeed, instead look at the college degree, training, life experience, past work references and anything else that may help in considering the level of experience and skill one has to offer in this arena.
CPAs are a great option to go with when getting a business appraisal. Most small businesses work with their own CPAs and if the CPA in question has a background in such a task then it makes the process incredibly simple. Not enough can be said for the idea of getting someone who is experienced, known and trusted.
One can tell if a CPA is qualified for business appraisals because they will most likely have certifications or accreditations regarding business valuation appraisals. For example, a CBA (Certified Business Appraiser); an ASA (Accredited Senior Appraiser for business valuation; An ABV (Accredited for Business Valuation) and a CVA (certified Valuation Analyst) are all well qualified appraisers for businesses. They come from numerous institutions and associations, so they are relatively easy to find. The bottom line is that when one is searching for someone to provide an accurate business appraisal, it is important to ensure that the appraiser in question is qualified.
