Setting goals can be essential to effectively guiding a business and achieving growth. One survey revealed that a majority of small business owners surveyed do not set and track business goals and also report they have no achieved their visions for their businesses. It is important to set and distinguish short-term versus long-term goals. Long-term goals should be based on a three to five year plan.
Mergers and acquisitions can be a big step for any business. The national banking industry, for example, has seen a wave of mergers due to increased costs and competition. The consolidation activity throughout the banking industry has also had an impact on the banking industry in Louisiana. Nine banks in Louisiana have either agreed to or completed acquisitions over the past two years. The smaller banks in Louisiana that will be acquired will likely be purchased by institutions headquartered in Baton Rouge and other major Louisiana cities.
Business growth and opportunities can take many forms, including through acquisitions and mergers. An international insurance broker that has completed more than 300 acquisitions worldwide in the past 12 years has also purchased multiple well-established Baton Rouge insurance agencies. A local man who worked for the company's first Baton Rouge acquisition has now become the company's regional president. In a recent interview, the many said that not much in the way of day-to-day operations changed after the Arthur J. Gallagher & Co. purchased the company he worked for back in 1991.
To ensure a positive outcome throughout a merger process, it can be helpful for the parties involved in the merger to thoroughly understand the process and what to expect. A national private equity firm is forming a new company in a neighboring Louisiana community through the merger of a Louisiana offshore cleaning company and an out-of-state offshore waste-management company. The merger is expected to create 100 jobs in the neighboring Louisiana community. The newly-merged company will operate out of 14 locations throughout the Gulf Coast and Permian Basin areas while remaining headquartered in Louisiana.
A newly formed strategic merger with a Baton Rouge outdoor-lifestyle company and an Illinois outdoor products company was recently announced. The merger is between Plano, a fishing accessories and outdoor sports storage system company, and Synergy Outdoors, based in Baton Rouge, which specializes in outdoor-related brands.
Complex business transactions require careful consideration and special attention in order to avoid unwanted results. Poorly negotiated Mergers, for example, may lead to business litigation, wasted time and money, and a situation where neither party is happy with the resolution. In some instances, the merger may be disallowed from occurring. Therefore, when one considers acquiring a new business or buying a company, he should consult with an experienced business transaction attorney.
Businesses around Baton Rouge face acquisitions or mergers on a daily basis. And it's probably safe to say that most transactions are dictated by rules and regulations by different government entities. Sometimes the decisions made by the government can determine if a merger even takes place. Be it federal, state or city, someone always has a hand in these and some even end in business litigation.
Businesses are constantly trying to move on to bigger and better things. They may try to bring new products to clients or customers, they may try a new way of operating or they may want to increase their business or its customer base. Many do this by either buying into businesses or allowing their business to be purchased.
In the business world, there are mergers and similar transactions that take place on an almost daily basis. For business owners in Baton Rouge, there are concerns to keep in mind throughout complex business acquisitions. There are regulatory concerns, concerns as a competitor, and many other things to keep an eye on when pursuing business goals.
Business transactions are often complicated and require delicate negotiations. Mergers and acquisitions are no exception. In most cases, the players involved want to focus on the key issues and avoid problems. Inevitably, business disputes sometimes arise, however. A smart and calculated response can help settle the dispute while a miscalculation or wrong step can completely kill the deal.