Buying or Selling a Business with Mel Vaz

The ban, which will take effect later this year, carves out an exception for existing noncompetes that companies have given their senior executives, on the grounds that these agreements are more likely to have been negotiated. The FTC says employers should not enforce other existing noncompete agreements. The FTC estimates about 30 million people, or one in five American workers, from minimum wage earners to CEOs, are bound by noncompetes. It says the policy change could lead to increased wages totaling nearly $300 billion per year by encouraging people to swap jobs freely. How will this affect you as an employee or employer? Click on these links to learn more: https://www.npr.org/2024/04/23/1246655366/ftc-bans-noncompete-agreements-lina-khan https://www.ftc.gov/news-events/news/press-releases/2024/04/ftc-announces-rule-banning-noncompetes #FTC #noncompete #noncompeteban #employment #competition

  Introduction: Selling a business is a complex and significant undertaking that requires careful planning and execution. Whether you are looking to retire, pursue new opportunities, or simply move on to the next chapter of your life, preparing your business for sale is crucial to maximize its value and ensure a smooth transaction. In this article, we will explore the most important steps in getting your business ready for sale. Financial Preparation: One of the first and most critical steps in selling your business is to conduct a thorough financial analysis. This includes organizing and reviewing financial statements, tax returns, and other key financial documents. Prospective buyers will closely scrutinize your financial records, so it's essential to ensure they are accurate, up-to-date, and present a clear picture of the company's financial health. Working with a professional accountant or financial advisor can help you navigate this process.  Most buyers will request at l