What is a Certified Business Intermediary?
Do thoughts of selling your business ever cross your mind?
As a business owner, you certainly know that the day will come when you will walk away from your company’s operations. Selling your business will likely be one of the most significant decisions of your business life.
No doubt you have a good idea of what your business is worth. However, there are many factors to consider when putting your company on the market. Is now the best time to sell? Should I look for a cash deal or consider specific terms? What about confidentiality?
This is where the help of a Certified Business Intermediary can make all the difference.
Business Intermediary – also known as a Business Broker.
Working with a professional business intermediary or a business broker will provide the expertise to help you make those decisions. Consider teaming with a Certified Business Intermediary (CBI), a professional who thoroughly understands the requirements for successfully selling a business. A Certified Business Intermediary is a qualified business broker. They can bring significant value to the complex process, helping you complete a sale with the best possible value and peace of mind.
A Certified Business Intermediary (CBI) is the designation awarded by the International Business Brokers Association (IBBA) to members who have met specific educational requirements. Members must adhere to established ethical standards. With 1,950 members worldwide, IBBA is the largest international, non-profit association operating exclusively for the benefit of people and firms engaged in various aspects of business brokerage and mergers and acquisitions.
A Certified Business Intermediary is an experienced, proven professional whose claim of competence is supported and documented. With the skills necessary to handle the marketing, negotiations, and complex details involved, a CBI can complete the purchase or sale of your business.
Learn more: Why choose Rogerson Business Services?
To earn the CBI designation, an IBBA intermediary must meet the following requirements:
Education
A Certified Business Intermediary must complete at least 60 class hours of business brokerage courses offered through IBBA. They must also demonstrate an ongoing commitment to professional development through continuing education and recertification.
Experience
A Certified Business Intermediary must demonstrate competence in applying knowledge gained through practical experience. This involves a combined minimum of three years of experience and education in business brokerage.
Knowledge
A Certified Business Intermediary must demonstrate a high degree of knowledge garnered through completing required courses. They must also pass their respective examinations.
Ethics
A Certified Business Intermediary must thoroughly understand the IBBA’s Code of Ethics. This includes applying this code to their business practices. Additionally, a higher level of education and training means that a CBI will have more access to people and information than other business brokers. A Certified Business Intermediary maintains professional affiliations with hundreds of other intermediaries. As a result, they have access to the most current industry information regarding taxes, government, and legislation. A Certified Business Intermediary’s experience and knowledge of current marketplace conditions are critically important for anyone looking to sell a business. If you are considering selling your business, you need every advantage you can garner, primarily preparation, experience, and knowledge.
If you have a question about selling or buying your business, call Andrew Rogerson at (916) 570 2674 today.
This article is reprinted by the International Business Brokers Association® (IBBA). IBBA is the largest international, non-profit association operating exclusively for the benefit of people and firms engaged in the various aspects of business brokerage and mergers and acquisitions. IBBA has 1,950 members worldwide, with its corporate headquarters located in Chicago, Illinois.
