Frenkels Forensics has a rich history of dealing with business valuations in a wide range of scenarios, and one common reason for individuals needing a valuation of their business at present is the onset of retirement for the baby boom generation.
The baby boom generation refers to the huge influx of people that were born in the two decades after the Second World War (1945-1960). Many people of this generation are now entering their 60s, meaning they are considering trading in their working life and entering into retirement.
In fact it is estimated that 12,000 people reach the retirement age of 65 every day in the US and UK. Many of those people will own a business or at least own a part of a business, which they will need to recoup the value of as they sell up and walk away from work.
Valuing a business can often be a troublesome task, not least because of the range of factors that must be taken into consideration to calculate its total worth. Forensic accounting services can play an important role in this task because of the expertise they have in assimilating large amounts of data from various places and producing detailed reports to show something’s financial value.
In the case of a business valuation this involves assessing the accounts, turnover, assets, stock, IP, staffing, clients and order books of a company to establish its value. Then, should the retiring individual only own a certain share of the business, the price they ought to receive for this stake can easily be calculated.
Frenkels Forensics have dealt with businesses of varying sizes and complexity including partnerships, limited companies, small family businesses and large companies with operations both in the UK and overseas. So should a baby boomer wish to enter retirement or anyone else be needing to sell their business, the company’s experienced forensic accountants can help.
For expert help with a business valuation contact Frenkels Forensics for an independent appraisal.
By Vitek Frenkel – find me via Google+.