Article Detailing the Challenge Facing Baby Boomer Business Owners Quotes Axiom
Wakefield, MA – Axiom’s president, Roger Winsby, was quoted in the March 28 Sacramento Business Journal article entitled “Baby boomers plan for life after the rigors of business” by Tom Locke. The article notes the growing interest of baby boomer business owners in planning how to exit their business. This “business transition tidal wave” was discussed by Mr. Winsby in an article published in the Association for Corporate Growth Hub News (August 27, 2003). This topic was also an important them in the book What Every Business Owner Should Know About Valuing Their Business (McGraw-Hill, November 2002) by Axiom’s two principals, Dr. Stan Feldman and Roger Winsby, and Dr. Tim Sullivan.
The Business Journal article quotes other observers on the general phenomenon that many private business owners may find it difficult to smoothly exit the business, despite having built a very successful and profitable enterprise. Many of these businesses are too large and have too much cash flow relative to their hard assets to attract bank financing for part of the purchase. Another exit solution, roll-ups of small companies into larger entities funded by private equity groups, which was popular in the 1990s have not produced the desired results, and so this is a much less likely option for owners. The lesson for business owners from all of the experts quoted in the article is that it is never too early to start planning your exit.
About Axiom Valuation Solutions
Axiom Valuation Solutions is a leading national provider of business valuation services based in Wakefield, MA. Its clients come primarily through referrals from professional advisors, including CPAs, financial advisors, and attorneys. Axiom Valuation offers competitively priced, certified business valuations for use in IRS gifting and estate tax filings and in litigation cases; and a unique service designed and priced for business owner planning applications: an accurate value estimate documented in a customized 50+ page report using the most accurate method of business valuation. For more information visit www.axiomvaluation.com.
The Sacramento Business Journal article described is available online at http://sacramento.bizjournals.com/sacramento/stories/2005/03/28/smallb4.html.
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