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Growth opportunities
Five ways to grow your business
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Take one step at a time
Plan your business growth carefully. Start small and work your way up. Maybe launch with an MVP (minimum viable product) and either add features or expand the range as you get more confident and sure about what you’re doing.
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Expand into franchising
Could a franchise model work for you? As a franchisor, you’d grant a licence to your franchisees to operate a business under your name (like Domino's or Toni & Guy). You’d give your franchisees a system to market your products or services for a specific time and a particular place, trading on an established brand name. Plus, commercial failure rates for franchises are incredibly small relative to small businesses generally.
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Could you trade internationally?
It’s the obvious way to find new customers and boost your business. Overseas markets can offer huge opportunities and aren’t as complicated or expensive to break into as you might think. Our tips and advice could help you to get started trading abroad, and we’ve also got useful insights if you’re thinking about exporting.
We could help with trade loans, bonds, letters of credit and lots more to get you going.
Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only. Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.
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Tap into talent
The more experience you have in your workforce, the better. One way to do this could be to upskill your existing team using our tips and ideas. Another important factor in getting investment is the quality and strength of your leadership team. And not having the right people could be one way to hamper your growth.
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Make your website the best it can be
If you don’t have a website, are you sure you don’t need one? And if you do have one, then is it as good as it can be? Don’t overlook the humble website as a great way to connect with your customers, or as a way for your business to try new things – for example, could you start to sell via an online shop, or hold virtual events like tastings or product demonstrations? From the basics to where to go next, our guide could help you grow.
Entrepreneur Accelerator
Our fully funded accelerator has 12 hubs across the UK. We provide start-ups with unique coaching environments, digital learning and networking opportunities.
Green initiatives for business
Adopting green practices is crucial in tackling climate change, and it could also help your business be more efficient and gain positive recognition from customers and investors.