Some difficulties in valuing small business (Part 1 of 2)
The main difficulty in valuing small business is the record keeping of the small business owner. Since he or she is the proverbial “chief cook and bottle washer,” keeping the financial records is down at the bottom of the list in running the business. In many cases, the owner keeps the business checkbook, bills and receipts and then dumps them all on an accountant’s or bookkeeper’s desk periodically. From these “records,” t