Business plans are critical to the success of a business and there are many reasons for taking the time to create one including the following, to name just a few:
- Share and explain business objectives to management, employees and new hires
- Sell your business
- Valuation of the business for transactions related to divorce, inheritance, estate planning and tax issues
- Create a new business
- Back up a business loan application
- Grow your existing business
Finding the time to put pen to paper and write the plan is another matter entirely.
The Small Business Administration (SBA) has launched a new online tool developed to assist small business owners in the development of a concrete business plan. The new “Build a Business Plan” guides small business owners through the process of creating a basic, downloadable business plan. For free access to the tool you simply need to log in to or register for an account with SBA. For more information visit: http://www.sba.gov/business-plan/1
For detailed assistance with your business planning, valuation needs or exit planning strategy please call Davis & Hodgdon Associates CPAs at 802.878.1963 or email [email protected].