LAND O’ LAKES, Fla. – March 29, 2018 – Credit Suite Inc., a leading direct business credit building and financingcompany located in Tampa, Florida, has just announced a new feature in their award-winning Business Finance Suite. Credit Suite’s Finance Suite now lets users access their business valuations through BizEquity.
The Finance Suite walks entrepreneurs through seven steps for building business credit, providing tips and information as a business owner works through the process, which makes it easy to get business credit cards. Credit Suite’s Finance Suite now allows users to access BizEquity valuation reports with BizEquity’s Business Valuation Calculator.
BizEquity’s prospecting tool currently has data on more than 33 million businesses in the United States and the UK. The service estimates the value, score and generates insights of private businesses through publicly available data, covering more than 40 million businesses and entrepreneurs in North America alone and includes 5500 retirement planning data.The BizEquity tool also provides an easy way to calculate equity.
BizEquity and Credit Suite are now working together to offer BizEquity valuations through the Credit Suite Finance Suite. Bringing these two services together means business owners can now receive information on exactly what their businesses are worth. Entrepreneurs will be able tointelligently put up collateral or even sell a portion of their businesses to investors.
“It’s our company’s mission to make business credit reporting affordable and accessible for small business owners, and to give them guidance,” states Credit Suite CEO Ty Crandall. “It’s important to know what a business is worth, and this new feature gives small business owner an easy and affordable way to monitor their business credit reports.”
A good 98% of all business owners have no idea what their businesses are worth. According the Business News Daily, many business owners don’t know their company’s worth because they don’t add their expenses back into the total value. This means that business owners looking to sell will often make errors with respect to their company’s value.
According to Forbes, two-thirds of 1,000 businesses surveyed expect to sell within the next decade. Yet about one-third of such sales don’t result in a closing, according to a Pepperdine University survey. And the number one reason why such deals fell through was a valuation gap. Such gaps accounted for about one-quarter of all such failed sales opportunities for investment bankers and about one-fifth of all busted sales for business brokers.
Not understanding a business’s value can also lead to 40% of all entrepreneurs not purchasing life insurance for themselves, as they feel their businesses aren’t valuable. Being in the dark about business valuation also means that over two-thirds of businesses are underfunded.
These problems can be solved with a business valuation. A business valuation means that an entrepreneur can get an idea of how much a business can sell for. They can also learn where they stand, to be able to plan ahead, such as for a sale to finance a retirement. An entrepreneur can also intelligently determine what it would cost to buy out a partner. Or the business owner might simply be curious about their business value.
BizEquity’s Business Valuation Calculator meets this specific challenge using big data to best understand what a company is truly worth. Credit Suite was founded in 2014 and dedicated to helping entrepreneurs obtain business credit, loans, and credit lines to start and grow. For both companies, their services can help whether a company is a new startup business, existing business, or its owners have good or bad personal credit.
Whether it’s through business valuation through BizEquity, or business credit building through Credit Suite, a business owner – including a startup business owner – has more chances than ever to properly value their company for any purpose, and not lose out on funding or deals.
For more information on Credit Suite visit www.CreditSuite.com