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Tip #149 Are All the Financials Available?
When it comes time to start the process of selling a business, the first step is having an evaluation performed by a professional to determine a price. This means having a number of documents ready: 3-5 years of tax returns, P&L statements, and balance sheets. Also a list of fixed assets, inventory, current accounts receivable, and accounts payable may be needed. And lastly, copies of a building lease and any equipment leases may be needed as well. And other documents may be requested as well based on the type of business. Business owners must make sure all these documents are available.
