The Future of the Business Valuation Profession
Over 32 years, we have observed that demand for private company business valuations (BV) is one of the many measures of the pulse of the economy and the strength of small business in the U.S. The more vibrant the economy, the greater the demand for BV. To look to the future of the BV profession, we must explore the relevant dynamics within the industry. That starts with looking to our past to see what events and milestones brought us to where we are today, followed by ascertaining the economic and demographic trends leading us into the future, and culminating with identifying those trends which will have the greatest impact upon the profession. There are few visionaries within the profession who have the wherewithal to opine on the future because it requires a long history in the profession, deep knowledge of the theory and practice as it has evolved, and broad experience and exposure to the drivers, i.e., the reasons business valuation services are in demand.
We are proud to be the first organization in the BV industry to thoughtfully opine on “The Future of the Business Valuation Profession.” Chris Mercer, author of the white paper, is known by nearly every person in the valuation industry through his 40-year career; prolific in having published hundreds of articles and books; presented on a wide range of topics on every stage known to the profession; and having participated on many boards, committees, and think tanks that have molded the profession.
In this analysis, Chris considers four areas of the profession where the future will most prominently be affected:
- Appraisal/valuation credentialling organizations
- Business valuation standards
- Business valuation theory
- Consolidation of the profession and ownership transitioning
