Sellers Beware

Selling a business? Volume is down according to the linked NY Times article. It quotes a recent study saying that only 10.5%, or a bit more than one in ten, of companies that are listed by selling brokers actually are sold. The article further notes,

"The main reason (for the low percentage), Mr. Vescio and others said, was that “most small business owners keep bad records,” so buyers cannot get an accurate financial picture."

Take heed, get a part-time accountant or Treasurer and keep good financial records. Get organized and stay that way, you won't regret it.