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Debt compression: how much pressure a balance sheet can absorb

Debt that is comfortable at today’s revenue can decide the outcome of a downturn, a transition or a sale. How much room the structure really has.

Liquidity: why profitable owners still run short of cash

Profit and liquidity run on different clocks. Why a profitable business can still come up short on the day an obligation has to be paid.

Exit tax planning: what to structure three to five years before a sale

The most expensive tax decisions in a business sale are usually made years earlier, by default. What exit tax planning looks like when there is still time to act.

Why most family business succession plans are unenforceable

A signed succession agreement is not a funded one. Four conditions a family business succession plan must meet before it can be relied on.

Enterprise value vs. equity value: what an owner is actually paid

The number in the headline is rarely the number in the wire. Where the difference between enterprise value and equity value comes from, and why it is structural.

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