A larger workforce, needing more equipment, larger premises and higher customer demands all indicate it is time for growing your business to the next stage.
There are plenty of ways to grow your business. It’s just about finding the best growth opportunities and managing new responsibilities and challenges.
Growing a business can bring many challenges to business owners that they may have never faced before. Many decisions need to be made, all of which have benefits and drawbacks which we can help you evaluate.
- How to grow the business – Organically, mergers, acquisitions or diversification
- How to structure the business – Introduce new partners, directors or shareholders
- How to fund for growth – Loans, hire purchase, working capital and cash flow
- Building the right team – Remuneration packages and employment contracts
- Letting go of the reins – Outsourcing may free up resources for further growth
- Financial performance – Break even sales or income required to offset expansion costs and drive higher profits
- Utilising your business tax allowances – Buying equipment and employing staff