Posts Tagged ‘business consultants’

What is a CBI?

November 7, 2007

Buying or selling a business is one of the most crucial financial transactions in the life of any business owner. Typically, a business owner will have a substantial investment in the business and will need to unlock this investment to enjoy retirement. Simply put, a business owner needs to optimize the after tax proceeds from a sale of the business. In what can be a confusing and sometimes difficult process, it pays to leave as little to chance as possible. With the help of a CBI professional, a business owner will find that navigating this unknown territory will be much easier.

What is a CBI? The Certified Business Intermediary (CBI) is the designation awarded by the International Business Brokers Association (IBBA) to a member that has satisfied the educational requirements, experience requirements and testing requirements established by the IBBA. Each CBI has undergone a specialized course of detailed training consisting of a minimum of 60 hours of class work. In addition, to be awarded the CBI designation, there must be a showing of a minimum of three years of combined experience and education in business brokerage. This would be evidence of competence in the application of knowledge gained through practical experience. As Craig Sutton of Sefco, Inc. puts it: “retaining a Certified Business Intermediary professional to sell my manufacturing business was a great investment. From day one, his work was professional, efficient and directly on target. I came to respect and appreciate the value of his skills in preparing, marketing and guiding us through the critical points. The professionalism, competence and integrity I experienced were exceptional.”

A CBI brings distinct qualifications to a transaction including an affiliation with hundreds (currently there are 632 CBIs in the world) of other intermediaries on the local, national and international levels. This professional association allows access to the most current industry information with respect to tax, finance, legislation and other areas of critical importance involving transactions. In addition, by being able to tap into local market knowledge, the CBI is able to bring special expertise unique to a given transaction.Specifically, by using the services of a CBI, a business owner is assured that the intermediary has satisfied four specific requirements.

A CBI is an experienced, proven professional whose claim of competence is supported and documented. With the proven skills necessary to handle the marketing, negotiations and complex details involved, a CBI can successfully complete a transaction.