When business owners start thinking about a sale of business, succession planning or retirement, the first question is usually about profit. Before starting the business exit planning process, arranging a family succession meeting or placing a business on the market, owners should carefully review their balance sheet. The Balance Sheet can identify what the business owns, what it owes and the financial position that has built up over many years. It can also provide a valuable indication of how well the business has been managed. Unfortunately, many business owners regularly review their profit and loss statement but rarely examine [...] READ MORE