The success of every business depends on its ability to grow sustainably and consistently over time. The challenges for business structuring and business growth planning vary depending on the stage of business maturity or the industry or markets you operate in.
While many businesses choose to go it alone, those who seek assistance from experienced business planners find themselves in a stronger position to accelerate their business growth through the right business structuring, debt and equity strategies, tax efficiencies and risk management strategies.
While there’s no standard business growth planning formula, businesses that grow successfully are proactive at dealing with questions such as:
- How will the business succeed in its chosen markets?
- Does the business have the right people and skills to succeed?
- Is the right business structuring in place to manage risk and be tax efficient?
- Does the business have the right debt and/or equity strategy?
- Is the business meeting its financial targets?
Success in these areas and more relies on focused attention and expert advice from growth-orientated business planners who can help you hone in on specific areas of growth.
It’s important to understand that your business growth plan will likely encompass multiple initiatives. For example, when you grow your business revenue, that will most likely result in the need for additional business resources - staff, logistical support, physical locations, etc - to support the accelerated growth.