You’ve slaved away for years to get your business to the point it’s at, and now the time has come to take it to the next level.
A growing business is a positive experience, it means your business is thriving and at the point where it needs to grow. Holding back could be detrimental to your businesses success and could leave you stuck behind while your competitors race ahead.
But where to start?
Well, first you need a plan. Do you know what direction you want to take the business in? Do you need more staff to achieve these goals? New equipment? Bigger Premises?
Once you have your plan of action, you’ll know where your area of growth is and what the most important items are that you need to get.
If you are looking at bigger premises you will need to decide if you are buying a building. A commercial mortgage will give you the funds you need to expand your operation. Alternatively, if you’re looking to expand your team a business loan can help you to get everything you need to bring new staff on board and get them set up.
You’ve come this far and now you might be tempted to dip into your existing cashflow to reach these goals. However, there are easier ways to get your hands on the cash you need without affecting your cashflow.
Growth doesn’t have to impact your business. Most business owners put off growth as they feel like they don’t have the funds to do so and see borrowing money as a negative. We’ve seen first-hand the amount of businesses who have taken out commercial finance to help give them that safety net whilst growing their business.
There are many finance tools out there to help your business grow. Such as Asset Finance can help you to get the tools and equipment your business needs while Invoice finance can help you release the cash tied up in unpaid invoice.
On a final note, we want to remind businesses not to let the fear of growth hold you back. We’ve written before about how 7 in 10 businesses choose not to grow their business out of fear of getting finance. You can read all about it here. If you’re at the stage where you’re looking to grow your business get in touch with us on 01274 965356 to talk through your options