Longtime small business funding and educational institution, Mountain BizWorks recently announced that it will expand its services to help entrepreneurs across Western North Carolina manage the often complex process of selling and purchasing businesses.
The new venture is called Mountain BizWorks Market Advisors and has already begun working with some select small businesses in the region.
“Transferring a business, or even determining its worth, can be a complicated process,” said program director Chris Grasinger. “Our focus is demystifying the process for business owners, allowing buyers and sellers to work through the necessary steps in a mutually beneficial way.”
One of the most challenging aspects of a business sale can be determining a price. So their approach takes a 360-degree look at operations, structure, and assets to determine a value making sure both sides know precisely what they are getting in the transaction.
Market Advisors will be operated as a subsidiary of Mountain BizWorks, and board vice-chair Tim Herdklotz believes the service is vital for the continued economic growth of Western North Carolina.
“For more than three decades, Mountain BizWorks has been an integral part of local business development in the region,” Herdklotz said. “With this new venture, we will continue that legacy by helping our well-loved small businesses sustain their legacy through a successful transfer of ownership.”
Research from the national group Project Equity shows that retiring baby boomers own over half of WNC small businesses and six in 10 will be looking to sell their business within the next decade. And to meet that demand, Market Advisors will ensure the number of locally owned businesses in the region continues to grow.
With so many businesses slated to change hands, the need to ensure successful succession planning will be of vital economic interest for buyers, sellers, and the over 130,000 employees that work for small businesses in Western North Carolina.
One of the easiest ways to do that is to sell a business to someone new, and this new brokerage aims to make entrepreneurship through acquisition as easy as possible for the buyer and the seller.
Learn more about Mountain BizWorks Market Advisors at marketadvisors.org.
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