SOUTHEAST BUSINESS SALES / CERTIFIED BUSINESS INTERMEDIARIES
Certified Business Intermediaries are trained and experienced business brokers that possess the expertise and knowledge to assemble business valuations, business-for-sale marketing programs, contract negotiations, and facilitating many other complex details involved in a privately held business transaction. The CBI designation is a credential earned by Business Intermediaries from the International Business Brokers Association. These professionals have satisfied the work experience, academic requirements, and ethical standards of the IBBA.
CBI’s have three distinct qualifications:
- A higher level of experience, training, and education necessary to handle the marketing, negotiations and complex details involved in the purchase or sale of privately held business.
- The most up-to-date industry data related to valuation, financing, contracts, taxes, legislation and other areas with respect to business transactions.
- Affiliation with hundreds of other intermediaries and professional partners (CPA’s, Attorney’s, etc) on a local, national, and international basis.
Business brokerage is a specialized field that requires a good knowledge of the finance, legal, and accounting disciplines, as well as a proficiency in marketing, negotiating, and due diligence. Selling a privately held company is often one of the most important financial events in the life of a business owner, who should make sure that the best and most professional representation is retained throughout the process. In most cases, a small business represents a significant component of family wealth and the owner will be keenly interested in maximizing this value when the business is sold to an outside 3rd party or key employee, or transferred through an orderly succession to a family member. The special skill set and expert guidance offered by a CBI will bring peace of mind and security to a process that can be complex and challenging. A CBI professional can help both buyers and sellers navigate the acquisition and sale process in a smooth and methodical fashion and assist in achieving a win-win transaction.
· Work Experience – A minimum of three years full-time business brokerage experience within the prior ten years, and must be actively involved in the deal-making process, or management of the process.
· Professional Ethics – A thorough understanding and commitment to uphold the Association’s high Code of Ethics.
· Industry Education – CBI’s must complete a rigorous advanced study curriculum involving a minimum of 68 class hours of business brokerage courses in addition to attending IBBA Conferences for professional development, continuing education, and periodic re-certification
· Testing/Examination – Once all requirements are met, CBI’s must pass a difficult and comprehensive examination.
Buying or selling a business is one of the most crucial financial transactions in an individual’s life. Engaging a Certified Business Intermediary (CBI) will greatly assist both buyers and sellers in optimizing the transaction and navigating the myriad of complex issues related to selling or buying a closely held business. The CBI designation is awarded following rigorous education, testing and demonstrated superior working knowledge of business brokerage skills. This difficult to obtain designation has been awarded to less than 800 recipients internationally. In states where there is no licensure of business brokers, it is even more important that business owners look for the credentials of the individuals and firms being considered to represent them.
About the Author:
Michael Fekkes is a Senior Broker at Enlign Business Brokers in Nashville, TN. Michael is a Certified Business Intermediary CBI®, a member of the International Business Brokers Association IBBA®, as well as a former business owner. He can be reached at 615.535.1150 or mfekkes@enlign.com. Enlign Business Brokers (www.enlign.com) is a Professional Services Firm serving the Southeast that is headquartered in Raleigh, NC with regional offices in Nashville, TN and Atlanta, GA. providing business intermediary services ranging from valuation and sale to exit & succession planning strategies.
