What do you expect from business advisory services?
No matter the size of your business or what type of industry you’re in, making it a success can be an arduous and lengthy process. This is why so many of today’s owners and managers have turned to business advisory services for the purpose of recognizing opportunities, making logical business decisions, facing challenges, and reaching various short-term and long-term goals.
By enlisting the help of seasoned professionals, business advisory services will allow you to grow your business more effectively and efficiently. Today, we’re going to discuss some of the more pertinent types of services that these professionals offer so that you can understand how they can benefit your business.
Strategic Business Plans
Far too many businesses take a lackadaisical approach to their company’s future. Even those that start off well can quickly lose steam and begin moving in multiple directions, often not knowing which path would be best. A business advisor will evaluate your business whether it’s a startup or a seasoned company and then create an effective business strategy that focuses on the weeks, months, and years ahead.
There are many factors involved in determining the proper valuation of any company. Whether you’re attempting to buy a business, considering the sale of your current one, or adding an owner, business advisory services can help determine the precise value of your own company or someone else’s. This is instrumental in making fair business deals with others and avoiding being shortchanged.
Developing a compensation plan for your employees, managers, and others involved in your business is a great way to promote success by providing incentives. It can be difficult to determine exactly what type of compensation plan would be best to ensure proper motivation amongst the various employment levels of your company. Business advisors will help devise a plan that will be beneficial for everyone involved.
When it comes time to transition the business you’ve built to new owners, there will be multiple steps involved in the process. Even if you’ll be passing the company to your children or other relatives, you should do so using business advisory services. This will help ensure that nothing is missed and that the transition to new owners goes as smoothly as possible.
Mergers & Acquisitions
Many businesses have found greater success along the way by either merging with or acquiring another company. The key to that success is very often determined by the way that the contract and all related details are laid out. Business advisors can step you through the entire process and ensure that every part of the agreement is exactly as it should be.
Financial Due Diligence
If you’re purchasing or investing in a company, it’s important that you have a well-rounded understanding of their financial details. With the use of business advisory services, you’ll be able to discover the company’s valuation, any outstanding debts, past and current litigations, full credit history, future forecasts, and other financial information. This level of due diligence will help you avoid any surprises along the way.
Disaster Relief Guidance
If there’s one topic that has seen an increased awareness over the past year, it’s definitely disaster relief. Many businesses realized not long into the pandemic just how vulnerable they can be to an unexpected event. A business advisor will work closely with you to devise a disaster relief plan that allows you to properly deal with hurricanes, flooding, fire, and other such issues with minimum effect on your company’s operation and finances.
Public Reporting Needs
Every business has public reporting requirements that can result in financial penalties and other issues if they’re not followed correctly. Business advisory services will assist your company with all public reporting requirements such as SEC filings, SEC reporting, IFRS standards, annual financial reports, debt offerings, and more. Keeping up with these details will also reflect well in the event that another business decides to work closely with you in the future.
Contact FMA for Business Advisory Services in Tampa
FMA offers professional business advisory services that will address all the needs listed above and many more. If you have any questions or would like to begin your journey toward business success, call us today at (727) 530-0036 for a free, no-obligation quote.
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