When a small business owner files bankruptcy, their company becomes an asset of the bankruptcy case. Therefore, the business owner needs to evaluate the value of the business.
Some business owners want to say that their small business is worth nothing because if they don't work, the company doesn't make money and is worth nothing. However, the bankruptcy judges and trustees in Tampa will not accept that argument, because the business has value. What would a competitor pay to buy the business? What is the value of the assets of the business? What are its receivables? What are its revenues? Its profits?
In this episode of the podcast, we review all of these different valuation techniques in connection with business owners who want to file personal bankruptcy.
If you have questions that you think would make a great future episode, please let me know at Shawn@YesnerLaw.com. You can also visit our website at www.yesnerlaw.com.