Ready, set – wait

Many business owners with fewer than 50 employees apparently haven’t seen the recent Intuit poll that predicted payroll expansion for close to half of small businesses over the next 12 months or so.

chart_job_recovery.03Instead, they cut roughly 75,000 jobs in October, according to an estimate by payroll processor  ADP.

CNN reports, “A telephone survey of 830 small business owners conducted by management consulting firm George S. May International from Oct. 28-30 found that 74% of the owners polled do not plan to increase their staff headcount in the next 90 days.”

Whether you find your business among the privately owned companies cutting back in tough times or poised to make a move as economic recovery appears to be taking effect (at least according to some economists),  remember that your company will be more attractive to potential buyers if it demonstrates the ability to effectively weather turbulent economic conditions. The last two years should be a good indicator of that. And how you respond in the next year or so could also make the difference in whether you “get out while the getting is good” or walk away with a tidy profit, having handed off your business to an energized new owner.

Eric R. Voth is a serial entrepreneur, a private investor, consultant, and writer. He is author of How to Sell Your Privately Owned Company, a Basic Guide for Independent Business Owners, Baby Boomer’s Edition. Eric and his colleagues help a business Seller prepare and groom his or her company prior to offering it for sale or merger – then guide the owner through the actual process. He became involved in this field as a result of merging his own company in 1993.

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