When thinking about finance, I imagine that Wall Street, blue-chip stocks and massive investment banks might be the first image to pop into many students’ minds. For me, at least, that was the case. However, after interning at Ellery Partners, I have been exposed to a new financial world: the lower middle market.
As COVID-19 continues to spread throughout the country, many things remain unclear. However, throughout this pandemic, one thing has become certain. Namely, the USA runs on small businesses. As a result, in this climate, researching these businesses has taken on added significance. Throughout this search, I truly feel as if I’m getting a better understanding of our economy and America, as a whole. First, I feel proud of our country and am inspired by the proliferation of successful family owned businesses that I have encountered. Secondly, I am learning about different problems, many of which I didn’t even know existed, that businesses solve across the nation. For example, this past Thursday, I pitched further exploration into the Pallet & Skid Rental Industry. Before starting at Ellery, I didn’t even know what pallets and skids were! Overall, this research has given me a more nuanced sense of all the work and different parties that are involved in the productions of various goods.
In the past two weeks, we have spent a lot of time looking into the community association management industry. As a lifelong resident of New York City, this is another industry that I was not too familiar with. However, I have greatly enjoyed learning more about it. These businesses have a very tough, yet essential, job. Fulfilling the needs of various boards, serving as a resource for residents and boosting property values, all the while navigating the internal politics of different communities sounds extremely challenging. However, after doing extensive research into the industry, I am amazed by the innovative ways that management companies have successfully juggled these various goals and driven great results for the communities they manage!