When Do You Need a Business Valuation?
Most businesses owners' valuable assets are their business itself. They always focus on the day-to-day operations of their business, but to determine the overall wealth of their business isn’t as simple as looking up a stock price. For that, they need business valuation services to know the value of their business.
These following events would tell you when you would need to get business valuation services for your business in Singapore.
Death of a Shareholder
As a business owner, you must run valuation services right away when a shareholder dies. This process will help you determine the percentage of their share that you need to pass to whoever written on his will or to his family.
New Shareholders Coming On Board
Before adding a new shareholder to your business, you would need to do this to determine the buy-in and buy-out price. This step is just a preparation plan for what may or may not happen in the future.
Getting Divorce
Unfortunately, personal life changes like divorce can also trigger your business, especially if your spouse was working at your company during your marriage. For that, your spouse can get a substantial amount of your share, and that is why your business needs to run valuation services ahead of time to get the right value.
Change of Ownership
Change of ownership has two parts, one is for succession planning, and two is for retirement. Before these events happen, you must know first the value of your business and the best way to do that is to run valuation services together with plant & machinery valuation. This process will help you avoid problematic issues in the future.
If these sound similar to your situation, don’t hesitate to get business valuation services. Get them from Twin Pillars! They also have machinery valuation specialists that can help your business if you need one! Contact them at +65 81811835.
Resources: https://coinnyli.kinja.com/when-do-you-need-a-business-valuation-1843535692
