What do you usually think when you hear the phrase "merger and acquisition?"
Do you think about really big companies getting together to become even bigger companies? Most people do, but M&A, as it is known in the business world, can work for any size business.
In today's marketplace, mergers and acquisitions can be an important means of increasing private shareholder value for any size business. If you own a small business and want to compete in today's competitive markets, you need to think outside the box and merging with another small business in order to increase your market share could be just the ticket.
So often, small business owners think that the only way to increase their customer base is to advertise, hire more people, work more hours or other activities that can be both expensive and time consuming.
But what if your competition down the road could be your partner instead? Synergistically, by combining the two businesses, you have created more exposure to your brand.
The same thing can work for financial services on a small business level. Not everyone wants to work with a large bank or investment company, but they still want the same product and service that larger institutions offer.
In today's highly competitive marketplace, business owners like myself need to find ways to provide product and service at a price that the market will bear.
This year we have very challenging economic conditions.
Like other business owners, I want to increase exposure to my brand in order to remain competitive. We hear the "R word" (recession) a lot these days, so I was intrigued by the thought of a merger or acquisition.
Does this mean that I will be ringing the bell at the New York Stock Exchange?
Perhaps not yet, but something very exciting is in the wind.
• The opinions expressed here are Carol Perry's and may not reflect those of LPL Financial. Carol Perry has been a resident of Northern Nevada since 1983.