GABB Welcomes New Board Members for 2025
Atlanta, Georgia – November 26, 2024 –
The Georgia Association of Business Brokers (GABB), the state’s premier organization for business brokerage professionals, proudly announces its newly elected Board of Directors for 2025, these individuals, chosen by their peers, represent the very best in Georgia’s vibrant business brokerage community. This diverse and talented group will lead GABB in its mission to advance the interests of business brokers throughout Georgia in 2025.
The 2025 GABB Board of Directors is as follows:
• President: Dave Chambless, a veteran in business brokerage and a proven track record in leading industry initiatives, Dave’s leadership will be pivotal in driving GABB’s mission and vision forward.
• Vice President: Gene Wright, known for his strategic thinking and unyielding commitment to GABB’s success, Gene will be an invaluable partner to Dave in shaping the association’s future.
• Secretary: Pino Venetico, his attention to detail and passion for maintaining GABB’s high standards ensure that our association’s records and communications are always accurate and on point.
• Treasurer: Vivek Patel, with his financial acumen and business savvy, Vivek will oversee GABB’s fiscal management, ensuring our decisions are sound and our resources are maximized.
• Member at Large:
+ Tom Crumpton, a respected business broker with a deep understanding of our membership’s needs.
+ Shelly Gibson, celebrated for her innovative approaches to business brokerage and networking.
+ Solomon Padilla, recognized for his dedication to professional development and mentoring.
+ Brian Judson, admired for his leadership in industry advocacy and public relations.
Affiliate Chair:* Thomas Rockwood, his expertise in guiding affiliate relationships will fortify our association’s support network and drive mutual benefits for Members and Affiliates.
Under the stewardship of this dynamic team, GABB members and affiliates can expect enhanced resources, increased opportunities, and a strengthened collective voice in the industry. Some of the key benefits include
• Professional Development:
Access to cutting-edge training programs and workshops, designed to elevate your brokerage skills and keep you informed about market trends and industry best practices.
• Networking Opportunities:
Expanded networking events and platforms, fostering meaningful connections among members and with affiliate partners, as well as opportunities to engage with industry leaders and potential clients.
• Industry Advocacy:
A stronger presence in state and national policymaking, as the new board champions the interests of business brokers and promotes the essential role they play in driving economic growth.
• Affiliate Support:
Enhanced services and resources for affiliate partners, promoting mutually beneficial collaborations and fostering a thriving ecosystem for business brokerage in Georgia.
A Bright Future Ahead
As we bid farewell to 2024, we embrace the promise of 2025, confident that the new GABB Board of Directors will capably steer our association and industry toward unparalleled success. Together, they embody the spirit of GABB’s mission: “To promote the professionalism and integrity of the business brokerage industry while fostering a collaborative environment for our members.”
We extend our heartfelt congratulations to the new board and express our unwavering support during their productive and successful tenure. We are excited to embark on this journey with them and look forward to the bright future that lies ahead.
About GABB
The Georgia Association of Business Brokers (GABB) is a non-profit trade association made up of professional, licensed business brokers who help owners buy, sell, and value businesses primarily in Georgia. GABB maintains high professional standards while providing valuable resources to business brokers and the business community. With a focus on excellence, education, and collaboration, GABB serves as a catalyst for growth and success in the business brokerage community.
Media Contact:
Laura Goe, GABB Administrator
(770) 744-3639
admin@gabb.org
For more information about GABB, visit www.gabb.org.
This press release is issued on behalf of GABB on November 26th, 2024.
GABB 2024 Fall Conference: Equipping Business Brokers
Equipping Business Brokers for Success in Georgia’s Thriving Small Business Market
As a Business Broker here in Georgia and a proud member of the Georgia Association of Business Brokers (GABB), I cannot overstate the numerous benefits of being part of this esteemed organization. One of the highlights of our professional development is undoubtedly the annual Fall Conference, which took place on October 22, 2024. This year’s event featured two informative sessions focusing on critical areas of business brokerage that are essential for our ongoing success.
Insights from Industry Leaders
The morning session, Understanding Tax Returns, was expertly delivered by John Carroll, CPA, owner of Carroll & Company Certified Public Accountants. John’s firm is renowned for its commitment to professionalism, responsiveness, and quality service. The insights provided insightful guidance on the critical process of recasting financial statements. Mr. Carroll’s expertise shed light on the nuances of tax return preparation, arming business brokers with the knowledge to effectively evaluate business performance.
A few key takeaways included fascinating statistics about small businesses in the U.S. For instance;
– Georgia is home to 6% of the nation’s small businesses, offering ample opportunities for our members, understanding this demographic’s financial nuances is essential for brokers looking to guide their clients effectively.
– Women-owned businesses account for approximately 26% of all small businesses in the U.S.
– Larger banks approve only 25% of SBA loans, compared to the 49% approval rate of small banks, making familiarity with lending practices a valuable asset for business brokers.
Legal Perspectives for Business Brokers
Following this, we were fortunate to have Philip Stewart, a Senior Associate with the Transactional/Corporate Group of Blue Sky Law, lead the afternoon session. Philip’s extensive legal background and active involvement in various legal associations brought a wealth of knowledge about the legal considerations crucial for business transactions. His presentation underscored the importance of understanding legal frameworks that impact business sales and acquisitions.
The afternoon session, hosted by Philip Stewart, Senior Associate with Blue Sky Law, offered a comprehensive exploration of the transactional aspects of business brokerage. Mr. Stewart’s presentation reinforced the importance of understanding the intricacies of business law and the value of having a trusted advocate in the industry.
He understands that oftentimes an innovative approach is needed to overcome unique challenges that a business can experience. Philip takes a practical, business-minded approach to support the needs of the businesses he represents. From initial formation of an entity to its exit strategies and winding down, he is driven to support his clients because he understands what it takes to make a company successful.
Continuous Learning, Career Growth
Attendees of the Fall Conference earned 6 hours of continuing education credits toward maintaining their Georgia Real Estate License. This commitment to continuous learning is a hallmark of GABB membership and a driving force behind our success.
Beyond the exceptional educational content, the conference provided six hours of continuing education credits, a testament to GABB’s commitment to supporting its members’ professional development. This commitment to ongoing education and professional development is just one of the many advantages of being a part of our esteemed association.
So, what does GABB membership offer?
The GABB Advantage
Membership in the GABB connects business brokers to a network of experienced professionals and provides access to exclusive events like our Spring and Fall Conferences. These gatherings are not just about education; they are opportunities to build relationships, share experiences, and foster collaboration within our industry.
In addition, the GABB offers resources such as the GABB Businesses for Sale portal, which lists numerous businesses available throughout Georgia. This platform is a fantastic tool for brokers and clients alike, providing visibility and access to a broad range of business opportunities. If you are exploring the market or looking to sell your business, I encourage you to visit the portal: GABB Businesses for Sale.
Key Benefits of GABB Membership:
1. Professional Development and Designation: Access to industry experts and thought leaders through regular conferences and events. Pursue the Board Certified Business Broker (BCBB) designation, a mark of distinction that sets you apart in the industry. GABB provides pathways and resources to help you achieve this sought-after credential.
2. Expert Guidance: Learn from seasoned professionals and gain insights into the latest success strategies, trends, and best practices in business brokerage.
3. Networking Opportunities: Connect with experienced business brokers, lenders, attorneys, and other professionals who share your passion for business brokerage. These strategic relationships can open doors to new opportunities and collaborations.
4. Enhanced marketplace exposure: Showcase your business listings on the GABB website, the go-to platform for buyers seeking businesses for sale in Georgia. Visitors can browse our comprehensive directory featuring diverse opportunities across various industries at https://gabb.org/businesses-for-sale/.
5. Industry Insights: Stay current with market trends and best practices through expert presentations and peer networking.
6. Industry Leadership and Mentorship: Contribute to the advancement of business brokerage by participating in GABB committees, advocating for industry-related initiatives, and helping shape the future of our profession. Benefit from the guidance and expertise of seasoned professionals who are dedicated to helping you succeed.
7. Exclusive Access to Resources: Gain access to valuable tools, forms, templates, and resources designed to streamline your business brokerage processes and enhance your productivity.
For those unfamiliar with GABB, this organization is a vital resource for anyone involved in buying or selling businesses in Georgia. Their website, https://gabb.org, offers a wealth of information, including a comprehensive listing of businesses for sale in Georgia: https://gabb.org/businesses-for-sale/ .
Join the GABB Community
By joining the Georgia Association of Business Brokers, you’re investing in your career, expanding your horizons, and becoming part of a dynamic community dedicated to your success. Our member testimonials speak volumes about the transformative impact of GABB membership on their business brokerage journeys.
Don’t miss out on the opportunity to take your career to the next level. Become a GABB member today and unlock the countless benefits that await you. Together, we can Transform Your Business Brokerage Career: Experience the GABB Advantage.
Join the GABB community now at https://gabb.org/membership/ and witness the difference it makes in your business brokerage journey.
About the Author:
Dean Burnette is a seasoned Business Broker and Past President of the Georgia Association of Business Brokers (GABB). He is also the Broker in Charge with Best Business Brokers (B3) Business Brokerage and Commercial Real Estate Firm. With extensive experience in the industry, Dean is passionate about promoting excellence in business brokerage and fostering the growth of the industry in Georgia.
The Silver Lining in the Coronavirus: Think Positive!
Photo by Skitterphoto from Pexels
By Dean Burnette, GABB President and managing broker of Best Business Brokers of Savannah
In the last few days my email has had a growing amount of Covid-19 Update emails! When I turn the television or radio on I hear or see “Corona virus” 100’s of times. Although coverage of a global pandemic is understandable, we’re only human.
If exposure to the virus doesn’t get us, hearing bad news may.
Being an eternal optimist with real life experience through several world economic cycles, including the oil embargo of the 1970’s and 1980’s, The Y-2-K threat of 2000, the real estate bubble, I’m quite confident that most of us will survive this. In fact, some will prosper and some will not.
There will be short term challenges. I have been personally impacted by the current travel challenges. One buyer was supposed to fly in from Chicago last week to look at a business, another client was supposed to fly down from Ohio, and they both had to cancel. I’m expecting a buyer from New York to fly into Savannah Saturday morning, and I’m wondering if he will actually make it?
Some will be impacted more than others; I hope we will be compassionate and aware of other’s struggles. As in the past, most people will come out the other side of this challenge better than they imagined. In each of these cycles, new industries were created!
New industries will be created; some will become obsolete.
We’ve all learned a new term with Covid-19, Social Distancing. I’ve long said that there are some people you have to love from a distance, and social distancing certainly puts a new spin on that! The world may never be the same again.
I am over 60, and so I am at a higher risk than the general population and should take extra precautions. With all the technological advances in communication and social media, I don’t know whether to feel safer or more vulnerable with my higher risk senior status. But I do know that in every crisis, there are possibilities, a silver lining in a rain cloud.
The positive side of the Covid-19 experience
This too shall pass and probably sooner than we imagine! The world is much better equipped to overcome pandemics and other challenges that come at us. We are currently witnessing in real time the wonders of technology and the benefits we have in this day and time.
Instead of dwelling on the negative aspects of our current world challenges, we can find the silver lining. For example, I have two clients who have been able to secure business loans because of the lowered interest rates. After being cooped up for a couple of weeks or longer I believe people will fill up their gas tanks with cheap gas and travel locally, spend money in small businesses. I hope we can use this time of solitude to appreciate our families more and get some of those closets, garages, or spring cleaning done.
Opportunities will emerge
Other bright spots:
- Gasoline prices are very low.
- Interest rates are at historic lows, creating many opportunities for economic growth through new manufacturing opportunities and business expansion.
- Instead of going on cruises and traveling to other countries, people will fill up their tanks and spend their money locally in small businesses. More people will drive to Savannah or visit the Atlanta Aquarium!
- Many companies are encouraging people to work from home during the crisis, and after the crisis many will continue working from home.
- We all have learned the best way to wash our hands, and we’re washing more frequently, and most of us will be more aware of our health and hygiene.
- Because of our new awareness of how much we depend on foreign companies for vital products, more manufacturing will be done here.
- New industries will be created and more jobs and business opportunities will result from this crisis.
If you have been considering buying or selling a business, the stars are lining up, interest rates are low, and the U.S. government will be putting extra efforts into economic stimulus. Gas prices are very low, and people will have more money to spend in local businesses. The list goes on. If you have been waiting for the right time to buy or sell a business, that time is now. It sometimes takes months to close a deal, by that time the virus will be history, and businesses will beginning to flourish again!
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