Your business has survived the start-up stage and you are running a successful business. You may be wondering if and how to grow the business, what steps to take, and the most effective growth strategy for your business needs. While there are many effective ways to grow a business beyond its current status, determining the best way of approaching the expansion process is often a challenge. It is important for business owners who have successfully completed the business start-up process to assess their company’s unique set of circumstances, including the company’s available resources, finances and time.
The first step in determining which growth strategy to adopt is to create growth plan. Like your business plan, a growth plan clearly states your objectives in a measurable fashion, and outlines how you plan to achieve these objectives. Your growth plan is your roadmap to achieving your expansions goals.
This section provides information and tools on developing your growth plan and explores various growth strategies. Contact the Small Business Enterprise Centre for additional information or visit our Resources page.