Business was really beginning to boom in the mid 1990s when we (three majority owners) paid the final check to our previous owner and took possession of our 200-employee company. It
In 2003 I signed the agreement with two other owners to sell our 200-employee roofing company via a management buyout to five new owners in a deal that was structured over 10 years.
Probably a business owner’s largest asset is
trapped in his or her illiquid business. Monetizing that wealth likely will be
the largest financial event of the business owner’s life. This transaction will
include three parties: the seller, the buyer and Uncle Sam. So, come to
understand this: “It is not how much you make, but how much you keep.”
All of us have watched as the government has budgeted over $2 trillion to banks, insurance companies, federal and state governments, and struggling auto manufactures. Ever wonder where all this money is going or coming from? Of course, we will never see any “bailout” money gifted to support our small businesses, which drive job creation and pay the taxes to support the overall government and the economy. So what are small business owners to do?
