Business Expansion Business expansion has the greatest potential for short-term impact on our community. A company's failure or move often means the loss of tens or even hundreds of jobs for a community while the addition of a new product line or market may allow a company to quickly expand its workforce. This requires a company to continuously improve its business practices and refresh its products and services. In order to expand, a company must improve faster than its competition and increase its market share. Given today's global competition, these are major challenges.
Business acquisitions are another form of business expansion with a short time frame.
When an acquired business is brought into a region it immediately expands the business base. Business leaders need to refine their skills to evaluate acquisition opportunities as well as to protect their companies from inappropriate acquirers. Business leaders need access to the specialized support services including valuation, negotiation, and contracting required for an acquisition. Retaining current businesses is also important. A closely held or family-owned business is often at risk during the transfer of ownership or control.