Grow your business successfully

Introduction

Guide

Challenges are an inevitable part of growing a business. To grow your business successfully, you will need to use more resources, processes, controls and staff. This can create problems that, if not managed properly, can put your business at risk.

The key to overcoming these risks is to understand them and plan ahead accordingly. By recognising common pitfalls and how to avoid them, you are less likely to be overwhelmed and more likely to transform them into opportunities for your business.

This guide examines the challenges of growing your business and how to manage them. It looks at the role of business growth strategy and planning and the implications of growth on finance, people skills, IT systems and business premises. Finally, it describes common reasons why you may decide to slow or stop the growth of your businesses.