Michael M. Carter is the founder and CEO of BizEquity and the inventor of an online valuation service that's helping the small business economy. BizEquity was recently recognized as one of the top 360 companies in the United States by Entrepreneur Media for two years in a row.
Entrepreneurs often make detailed plans for building their business but neglect planning their own exit to safeguard the wealth created for their families and future generations.
To benefit both the borrower and the lender, we must improve transparency and the loan process to protect and ascertain the true value of small businesses.
Without proper life insurance protection, the sudden death or disability of a founder could derail a company, resulting in layoffs, bankruptcy and possibly the collapse of the business itself.