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What are business valuations?

"The process of determining the economic value of a business or company. Business valuation can be used to determine the fair value of a business for a variety of reasons, including sale value, establishing partner ownership and divorce proceedings. Often times, owners will turn to professional business valuators for an objective estimate of the business value." - Investopedia

A business owner’s largest asset is the investment in their business, but few realize what the value of their business actually is. 

Understanding a business's value can help its owner(s) make decisons regarding but not limited to, the following:

• Buying or selling a business
• Gift and estate planning,
• Creating a succession plan,
• Filing an insurance claim