What is Your Business Worth? Find Out With Biz Equity
Biz Equity is an informative online tool that determines the value of a small business. Have a big business idea in mind and want to know if it will be profitable? Or have an already established company, but aren't sure about its value? Biz Equity Corp. allows entrepreneurs and business owners to accurately estimate how much their business is worth by completing a brief questionnaire. Not only is Biz Equity a fantastic, innovative business concept in itself; it's also a useful resource for those with their own business aspirations.
As Biz Equity outlines in the About Us section of their site, small businesses are typically amongst an entrepreneurs main assets. But 65% of people can't even estimate the financial value, so what good is that?
The questionnaire consists of general questions about your business, financial data (most recent year and first and second years in business), and overall business performance and sales. Some fields are mandatory, and naturally, the more information you provide the more accurate the valuation of your business will be. They implicitly state that while the results of the questionnaire are an estimate only and major decisions related to your company should not be based on the data, they do use legitimate publicly available information about your industry. If like many business owners, you have a competitive streak, the good news is they show you where your business stands financially against your rivals.
An added bonus is that when you submit your information to the site, your business is included on their search listings. You will gain exposure and potentially market your business to prospective clients. However, since at this stage you can't update your financial standing on the site, you'd better hope the information posted works in your favor or it may not be the most effective marketing strategy after all.
Since the Biz Equity tool only launched in 2008, they are planning a number of additions which aim to enhance the accuracy of their valuations and complete a more in-depth review of your corporation's finances. And, speaking of those finances, they keep in mind the importance of keeping small business costs low by offering all of their services for FREE. Can't beat that.
While Biz Equity can only offer you a general idea of what your business is worth, it's a great starting point, especially compared to what many of you may know now; nothing, zilch, nada. If you are looking for a more concrete valuation method, which has legal standing, consult a Certified Financial Advisor. But for now, Biz Equity sounds pretty good to me.
Now tell me, what did they tell you about your business idea? Is it a money maker?