Should I grow my business?

It should be noted that growth is not always good and can quickly destabilise a business from both an operational and cash perspective if not controlled and managed correctly.  Therefore it is about choosing the right time and direction for a business to grow into.

Before embarking on a growth path, it is important to understand the objectives of the company and how well a growth policy would fit with these objectives.   

Before actively pursuing growth, a business should consider the following factors:

• Will the market support growth?
• Does the business have the operational capacity and resources to grow?
• What additional costs will the business incur if it were to grow (staff, vehicles, equipment)?
• Will the service being provided continue to be high?
• Is the current management experienced at managing people?

Before embarking on a growth strategy it is important the business is in good financial and operational condition. If it is not, growth will highlight and exasperate problems within the business.