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Exit strategies for small business owners looking to sell their business, and an update on recent economic developments are topics of this week’s free webinar presented by the Small Business Development Center at CSU Bakersfield.
Host and SBDC director, Kelly Bearden is joined by Michael Balstad, certified exit planning advisor and founder of Harvest Transition Solutions, a firm that specializes in exit strategies for small business owners. Balstad provides key points to selling a business, various options for owners seeking to transition, and tips for those looking to buy a business.
Dr. Mark Evans, Emeritus Professor from CSUB and now resident economist for Webinar Wednesday discusses recent economic developments and how they affect the Central California region.
The webinar begins with Kelly providing updates on capital resources programs, and weather-related disaster assistance for businesses from local, state, and federal governments.
This marks the 279th episode of the free weekly “Webinar Wednesday” business series that provides news and information helpful to employers and business owners. The SBDC provides free one-on-one consulting to help small business owners. New and existing businesses can sign up for assistance by clicking here!
TIMESTAMPS
00:00 Intro
00:30 Coming up on Webinar Wednesday!
01:56 What’s up today June 7, 2023
04:59 Poll Question: “The 3-month US Treasury Bill is expected to sell soon at what rate?”
07:02 Debt Ceiling for Small Business Economic Corner....Debt ceiling for small business
08:13 Debt ceiling for small business – debt-to-equity-ratio
08:27 Debt ceiling for small business? The FICO Liquid Credit Score
09:51 How is FICO Liquid Credit Score calculated?
10:51 Economic Corner – Kelly introduces WW resident economist, Dr. Mark Evans
11:20 Dr. Evans begins his presentation – Thoughts on Bitwise & SJV Economic Development
11:58 A “match made in heaven?”
13:13 Bitwise – regional footprint and 2023 unraveling
14:31 Likely impact on San Joaquin Valley Economic Development?
15:48 B3K-Identified Tech Skills Deficits
16:56 Likely Impacts 17:52 Kelly rejoins Dr. Evans for discussion
20:44 Kelly introduces today’s special guest, Michael Balstad
21:19 Michael Balstad begins to speak
21:24 Michael Balstad begins presentation: Selling your business: Some things to consider
22:19 Michael Balstad background as a certified exit planning advisor
23:53 What’s it like right now for selling a business?
26:02 State of the market
29:46 Tsunami in the room
31:57 So, you’re selling. The question is......Is anybody buying?
32:08 History is not on your side
42:58 So we learn from it!
46:59 When you are ready, talk with a broker or mergers & acquisitions advisor
49:21 Comparisons of a third-party sale, employee/management buyout, employee ownership
1:01:28 Kelly rejoins Michael for discussion
