How to Grow your Business

Posted by Phil Murray 30 June 2017 10:05 AM

Deciding when or if to scale up your business can be nerve-wracking but there are a few tell tale signs that it may be time to take the plunge.
 
Get the timing wrong, however, and you could end up losing the momentum you’ve built up over your business’ life causing it to stagnate or fail. If you are seeing most of these signs, your business and customers may be telling you it’s time to grow. Knowing how to grow your business can be tricky but we have worked with many businesses in the North East and have created these 5 points to business growth :
 

How to Grow your Business

 

  1.        You’re making consistent profits

If your profits have levelled out, and you’re consistently making the same amount, your business might be ready for growth. Make sure that your cash flow and capital have increased to the point where you won’t have to look for loans to expand in order to fund your growth from a solid footing. However check with your accountant to see if borrowing might also be a valid strategy to fund your growth.

  1.        You’ve built a solid customer base

Your customers are one of your most important assets. If you’ve built up great relationships with them, are servicing their needs properly and have plenty of repeat business, it’s time to start targeting new customers. For example reaching into a different market, or adjusting your marketing plan to reach a new sector of potential customers.

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Topics: Business Start Up

Why I love working in the North East

Posted by Phil Murray 16 June 2017 10:15 AM

Why I Love Working in the North East

Back in November I wrote a blog highlighting just 2 examples of why the North East business community is awesome. As it's a Friday I thought I would re visit them as they are as true today as they were then. 

The North East business community continues to be one of the most attractive places for high growth start ups. Here are just 2 examples of why. 

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Topics: Business Start Up Client Stories

When you wake up feeling positive about the future...

Posted by Darren Wingfield 23 February 2017 10:47 AM

After attending the BQ National Emerging Entrepreneur of the year awards last night, our MD, Glyn Davison woke full of positive energy and wanted to explain why.

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Topics: Raising Finance Business Start Up Business Owner

8 Essential Steps to Reenergise Your Mind as a Business Leader

Posted by Phil Murray 22 February 2017 11:00 AM

We all know that when our mood or energy drops, it can have a HUGE impact on our performance and on the people around us. So, as leaders and managers, how can we make sure we keep our ENERGY UP and our MIND IN GOOD SHAPE.

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Topics: Business Start Up Business Owner Business Building

What do Usain Bolt, online dating and a scalable business model have in common?

Posted by David Cudlip 10 February 2017 12:34 PM

Before you can actually scale a business, you need to ask yourself this question.

What do Usain Bolt, online dating and a scalable business model have in common?

More than you think!

Scale up is a great buzz word right now and everyone wants a part of it. However, many commentators talk about scale up as if all businesses can actually scale.

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Topics: Business Start Up Business Owner Business Building

How to become a scale up leader

Posted by David Cudlip 27 January 2017 11:39 AM

Whether you have been promoted, have stepped in to new role or have successfully scaled up a business; Leadership is something we must learn.

It's tough to transition in to a role that requires you to become a business leader. You have likely been promoted to Sales Director because you have consistently performed well in Sales or you may have successfully scaled a start up business that now has 10 employees because you are top class Entrepreneur.

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Topics: Business Start Up Business Owner Business Building

7 things you need to know about R&D Tax

Posted by Joanne Warren 13 May 2016 10:04 AM

I get a lot of questions about R&D Tax as more and more business owners are starting to understand the relief and how it works. There is nothing as a 'stupid question' we see them as something you have on your mind that need answering. We have pulled together a list of the most common questions we have been asked over the past few months relating to the different aspects of the R&D Tax Relief Scheme.

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Topics: R&D Tax Business Start Up Business Owner

How to achieve business success in 2016

Posted by Phil Murray 17 February 2016 07:30 AM

The new year is a great time for you to step back and take a fresh look at your business.

Achieving success in 2016 is a matter of looking strategically at what has and hasn’t worked, so that you can plan for the future. This article will provide you with 4 simple suggestions for all business owners who want to build a better business in 2016.

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Topics: Business Start Up Business Owner

What grants are available in the North East?

Posted by Phil Murray 16 February 2016 07:30 AM

One of the most popular questions we often get asked is; "Are there any grants available at the moment?" or "Can i get a grant towards that?".

With that in mind we thought it would be worthwhile to share news about a grant that is availble to North East Businesses with a deadline of 25th March 2016.

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Topics: Raising Finance Business Start Up

Starting a Business - Part 3

Posted by Phil Murray 23 December 2015 09:30 AM

Starting a business is an exciting time when you get to kick start the ideas you have been developing. It’s a time for creativity, devotion, passion and establishing skills. However, if you don’t have an understanding of the basic concepts of cash flow within your business, you’re likely to come up against a rather high hurdle which will be difficult to overcome.

As the ability to collect cash and pay bills is a vital part of running a business, this final article in our business start up series will explore cash planning, forecasting, obtaining credit and financing your business. The good news is that you do not need to be an all round expert to succeed in business, all you need is the support of a skilled team

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Topics: Business Start Up