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Growing Your Small Business

So, you launched a startup and now you are looking for some help to grow your small business. There are some key areas that are crucial for growing a business and achieving significant growth. Some of the topics covered in this section include how to get extra funding and simple ways to increase revenue from existing customers.

Business Growth Strategies and Planning

Let’s be realistic, scaling a business will not happen overnight. It will take a considerable amount of effort and a healthy portion of time.

Growing your business begins with the fundamentals. But, it also involves a giant leap into sales and marketing.

Other factors also help move businesses from the startup phase into high growth. Understanding taxation and corporate compliance is a necessary part of small business expansion.

So, how do you grow a small business into a large successful operation? Information in this section will help you expand a startup the right way.

What Helps Small Businesses Grow?

The first step is getting your operation established. You should then be making some profit on the products and services that you sell to existing customers. That is the ideal time to start thinking about how to grow your small business into a bigger one.

Even so, increasing sales is only one factor in achieving significant businesses growth. Shrewd entrepreneurs also focus on maintaining and improving the company profitability.

There are some basic areas that you can target to help grow your business. They include undertakings like:

  • Developing new methods of increasing sales. It may come from an increase in sales to existing customers and finding ways to attract new clients.
  • Researching and testing changes with your customers to improve your established products and services.
  • The development of new products and services to sell in existing markets or new ones (e.g. online).
  • Searching for additional sources of business funding (e.g. bringing new investors into the company).
  • Taking on extra staff, including apprentices, or training your current workers. You may also get opportunities to work with business mentors.

UK Legalities as the Business Grows

As your business grows the VAT taxable turnover may go over the current VAT registration threshold. In this case, you would need to register the business for Value Added Tax.

You may also need to consider different business legal structures (e.g. a limited company). As a rule, the process you need to follow will depend on the type of business you are running.


Getting Extra Funding

The best way of financing your business for growth depends on several key factors. But, you can get extra funding by taking out a business loan or by selling shares in the company.

Increasing Sales to Existing Customers

One of the ways to build a healthy client list is to attract new customers to your business and keep them. It may involve expanding outside your local area or outside the United Kingdom.

Attracting New Customers

One of the ways to build a healthy client list is to attract new customers to your business and keep them. It may involve expanding outside your local area or outside the United Kingdom.

Improving Products and Services

Consumers are always attracted to enhanced or improved products and services. Discover several secrets behind customer feedback to improve an existing product or service.

Developing New Products and Services

Check these strategies for developing new products and services and benefits of development. It’s a good time to review the guidelines on business ideas and intellectual property.

Hiring and Training Staff

As a business grows, hiring and training staff usually becomes a necessary part of the growth. Strategies behind building a workforce include employing new people, training existing staff, and working with a mentor.

Note: The business support helpline provides free advice on growing your business. Contact them to get help and support for your business.

How to Grow Your Small Business in United Kingdom