PPP Act Amendments

Here’s an update on the Paycheck Protection Program flexibility Act of 2020 that was passed. This bill, H.R.7010, brings changes to the program including a longer covered period, new spending threshholds and more. The main changes in the Act are: No penalty if you were unable to rehire / hire similarly qualified positions or unable

CARES Act and Accounting for PPP Loan Proceeds

Below is information for eligibility requirement for the PPP loan forgiveness poste by VR Business Brokers.   Click for the pdf format for this article.  When the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was passed by Congress and signed into law by President Trump on March 27, 2020, economic assistance for American workers,

Business Evaluation – What’s in a Number?

Joe Braier was interviewed by theIBBA (International Business Brokers Association).   Joe Braier, our team member who is a Certified Valuation Analyst (CVA) explains how a large variety of factors come in when analyzing an accurate valuation.   This is a 30 minute discussion with Joe on the variety of items that come into play when developing

Business Resources during COVID-19 Crisis

Lakes Business Group knows privately owned businesses are what makes our country great. At this health and economic crisis period there are resources to help businesses manage through this crisis. JUNE 2020 – Paycheck Protection Program Flexibility Act 2020 UPDATE Below we have compiled some resources for you to look through and apply as we

Selling a Business or Buying a Business? Trust the #1 VR M&A Office

Lakes Business Group in Wisconsin, the Top Producing VR Office in 2019 Every year the annual VR Awards presentation is at their annual conference in Florida in early April.  Because of our national crisis and quarantine the event was cancelled, so today the awards were announced.  We are thrilled to report that, again, our office

Mergers and Marketing to Grow Your Business

Growth is always top-of-mind for business owners. And it’s never a question of when to grow or why, but rather how. Say, for example, you’re looking to expand your business and benefit from additional profits right now. On-the-other-hand, you might be interested in selling your business in the future, so adding clients and increasing your

How to Buy a Business Not for Sale

It never hurts to ask: How to buy a business that’s not for sale If you want things to happen, make them happen. I can’t think of a saying that better captures the spirit of buying a business. And here’s why. Consider that not every business is listed for sale at the very same time.

Three Reasons to Sell Your Business Right Now

Maybe you haven’t thought about selling your business anytime soon, but industry buzz—as it sometimes does—is sparking your curiosity. It’s true that both business and industry-related trends are creating a market that’s conducive to buying and selling right now and below we’re uncovering three big reasons you might want to consider listing right now. It’s

Key Partners involved in a Business Transaction

Unknown to many buyers and sellers—especially first-timers—is the number of parties involved in the overall buy / sell transaction. The key partners involved in a business transaction certainly differ depending on how complex or easy the deal—so we’ve started by outlining roles involved in “traditional” deals. Buyer A typical buyer profile might include individuals like

SUCCESSFUL BUSINESS TRANSACTION – MULTI-LOCATION RESTAURANT CHAIN

October 1, 2019 Lakes Business Group, Inc. help complete the acquisition of this restaurant chain in Illinois by a private investor.  Congratulations to our sales rep, Joe Braier , and to the new owners of this established business. This business, with the real estate, was on the market for only 108 days before closing the