Many business owners spend years building successful companies without fully understanding what those businesses are worth—or what could increase or diminish their value. Edward Jones financial advisor Carlos Britos is hosting two educational events this fall in Gloucester to help area business owners explore these important questions. Small businesses play an outsized role in Gloucester County’s economy and community. With nearly 25 percent of county residents aged 65 or older, questions about business continuity, succession and preserving locally created value are becoming increasingly important, a release stated. Succession planning can be particularly intricate when ownership may pass to relatives, employees, business partners or family friends. Owners must consider not only who is prepared to lead the company, but also how the purchase will be financed, how the business will be valued and how the transition may affect family members, employees and customers. Local businesses often...
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