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Business Growth

As well as saving you tax we also give advice on growing your business. In order to grow you need an action plan to map out how you will get there. We can assist with your action plan and monitor your progress to ensure you are hitting planned targets.

Need a boost?

A good starting point to increase sales is by analysing your sales to current customers. 3 steps to increase sales from existing customers:

Do you keep in contact with your customers? By keeping in regular contact with your existing customers they will remember how great you were at providing that product or service and will want to buy from you again.

Do your customers know about all of the products and services you have to offer and can you identify products and services that would benefit their business? Your customers will buy more products and services from you which will increase the average value of each sale.

Do any of your customers deal with businesses that you would like as customers? By ‘partnering up’ with another business you can create a network of affiliated businesses and gain new customers together.

All businesses can benefit from growing organically but sometimes finance is required in order to expand further. Some common examples are:
  • Bank loan
  • Remortgage property to release funds
  • Asset hire purchase
  • Asset leasing

£££ Other ways of raising finance are:

Stock Control

By keeping tight control of your stock you can prevent money being tied up in idle stock.

Sell Shares

Sell a portion of your business for investment. This does not need to be an outside investor, sometimes a family member is willing to invest for a share of the profits.

Debt Factoring

When you issue a sales invoice to a customer, a factor such as a bank pays you the invoice amount less a 2-3% fee. The bank collects the invoice amount from your customer. This has the benefit of freeing up money tied up as debtors that you can now invest in your business.

Debtors Control

If your customers are slow in paying your invoices you are effectively giving them an interest free loan. In order to receive payment quickly, why not offer an incentive? Offering a discount of 2% if they pay within 7 days can and does motivate people to pay more quickly as everyone likes to save where they can. This discount can be offset with a price increase so you receive payment more quickly without bearing any cost.

We can analyse your business and show you how to implement changes to grow your business and maximise profit.
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