GABB 2024 Fall Conference: Equipping Business Brokers
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.