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Business Appraisals in New York
To quote Sinatra’s Theme from New York, “if [you] can make it there, [you] can make it anywhere.” New York, the Empire State, is regarded as the cultural heart of America, showing up in movies, songs, and across literature. In the late 1800s to the mid 20th century, millions of immigrants entered America through Ellis Island. According to US News, it is estimated that 4 in 10 Americans can trace at least one ancestor to this migration. New York City, The Big Apple, is the most populous city in America at about 8.60 million people. The next closest city in population is Los Angeles at 4.06 million. Wall Street is known as a major financial center for the world and is home to the New York Stock Exchange (NYSE). It was once a meeting of 24 stockbrokers under a buttonwood tree. On today’s Wall Street, the NYSE is the largest stock exchange in the world with a total equity market capitalization of over 25.6 trillion USD as of February 2021. New York one of the largest state economies in the U.S.
In terms of Gross Domestic Product, New York is the third largest state in the nation after California and Texas. According to the Bureau of Economic Analysis, New York makes up 8.10% of American’s total GDP. Notably, the finance and insurance sector makes up 20.63% of its GDP. The national average is 8.26%. This percentage is due to the large number of banks in the state. The state’s reputation makes it an ideal location for major corporations to set up shop in New York City. Real estate in New York is top tier, and the average home price is more than triple the national average. Still, many businesses find the steep prices worth it to have access to one of the most populous areas in America.
Business competition is steep in New York. As mentioned, many large corporations are headquartered in New York City. It may surprise you to know that per the Small Business Administration there are 2.2 million small businesses in New York, which accounts for 99.80% of all businesses in the state as of 2020. Half of the private workforce is employed by small businesses. Small businesses created 69,042 net jobs in 2019. As such, small businesses are the backbone of New York’s economy. At Peak Business Valuation, business appraiser New York, we frequently work with small businesses transacting, growing a business, or preparing an exit strategy. Reach out to us with any questions you may have about a business valuation in New York!
What Cities In New York Does Peak Business Valuation Perform Business Appraisals?
Peak Business Valuation, business appraiser New York, has performed business appraisals and machinery and equipment appraisals all over the state! The list below contains cities we have worked in:
- New York City
- Long Island City
- New Windsor
- Fort Covington
What Industries in New York does Peak Business Valuation Perform Business Appraisals?
New York has a vast number of industries and a variety of different businesses. Peak Business Valuation, business appraiser New York, has worked with architecture firms, landscaping services, electrical manufacturers, and many more businesses . We provide business valuations for a huge variety of industries and business models, including:
- Iron & Steel Manufacturing
- Bread Production
- Textile Mills
- Apparel Manufacturing
- Shoe & Footwear Manufacturing
- Metalworking Machinery Manufacturing
- Circuit Board & Electronic Component
- Printing Services
- Wholesale Trade
- Automobile Wholesale
- Auto Parts Wholesale
- Jewelry & Watch Wholesale
- Lumber Wholesale
- Footwear Wholesale
- Apparel Wholesale
- Construction Equipment Wholesale
- Industrial Supplies Wholesale
- Janitorial Equipment Supply Wholesale
- Paint Wholesale
- Retail Trade
- Transportation and Warehousing
- Local Freight Trucking
- Long-Distance Freight Trucking
- Moving Services
- Local Specialized Freight Trucking
- Automobile Towing
- Couriers & Local Delivery Services
- Software Publishing
- Operating Systems & Productivity Software Publishers
- Internet Service Providers
- Wireless Telecommunications Carriers
- Finance & Insurance
- Real Estate, Rental, & Leasing
- Truck Rental
- Property Management
- Professional, Scientific, & Technical Services
- Healthcare & Social Assistance
- Arts, Entertainment & Recreation
Reasons for A Business Valuation in New York:
Peak Business Valuation offers valuation services and business appraisals in New York for the following reasons:
- Selling a Business or Equity. Peak Business Valuation, business appraiser New York, works with individuals selling or preparing to sell their business. A business
valuation can provide you with the information to know if it is the right time to sell your business. Peak Business Valuation also provides insights on what steps to take to make your business more marketable. This can increase the amount you can receive for your business!
- Growing a Business. A business valuation can ensure your company is headed in the right direction. Deciding what to focus your business on can be a difficult decision. Receiving a business valuation when trying to grow your business is like looking under the hood of the car to ensure everything is running properly. Annual valuations can give you a feel for how your business is progressing. Peak Business Valuation, business appraiser New York, works with repeat clients to track the growth of their business.
- Buying a Business. Buying a business in New York involves taking on risk for a future reward. We enjoy helping potential business owners mitigate the risk in buying a business. Getting a business valuation before buying a business can help you get a closer look at what drives the value of the company. Additionally, it can give you confidence as you negotiate a purchase price.
- SBA Financing. A large bulk of valuations at Peak Business Valuation, business appraiser New York, are for SBA loans. SBA loans are an excellent way to get financing for a business transaction. The loans have generous term lengths, such as a 10-year term on non-real estate loans and great interest rates. SBA lenders are required to get a business valuation if the loan amount is over $250,000. Peak Business Valuation provides SBA business valuations across the state of New York.
- Other Services. Peak Business Valuation, business appraiser New York, provides business valuations for other reasons These include valuations for individuals in the early stages of divorce, partnership disputes, exit planning, and 409a valuations. Do not hesitate to reach out if you have any questions about business valuation in New York!
Get your complimentary consultation from Peak Business Valuation, business appraiser New York, today!