Do your business goals target expansion in 2018?
In 2016 SMEs made up 99% of the UK business market – with micro-businesses occupying 33% of the private sector. Statistics consistently show that smaller organisations are the backbone of the UK economy – businesses that may start with one or two members, growing to support up to 250 employees. When considering that millions of jobs are generated by SME companies it’s clear to see why continual growth is a key aspect of their success. Here we share key insight for business owners looking to expand in 2018, and explain why specialist removal services can help to make the process smoother and more efficient for staff and senior management.
Expansion can be exciting – but also daunting
For most businesses expansion and growth are on the agenda. It’s a natural progression for most companies, as profits and turnover are expected to rise year on year. But a hasty approach and lack of proper planning can make business growth challenging for many who want to guarantee prosperity and profits without the complexity of necessary preparations and huge financial outlays. How much effort is required? Isn’t growth risky? Will I need more staff and bigger premises? With so much to consider, it’s easy to see why confidence in the possibility of sustainable and successful growth remains low – even though two-thirds of business owners describe themselves as ambitious.
Timing is everything
What stage is your business at? How long have you been established? How is the current marketplace doing – and demand for the services or products you provide? Timing is everything when it comes to business expansion. Growth can sometimes be unexpected – as a result of surprising demand for a particular item, the emergence of a new overseas market or even legislation changes that generate new business. The most successful business expansions are carefully planned in advance, designed to steadily take advantage of upcoming trends and slowly increase profit margins. Before deciding to develop your company further, take a step back and consider whether now is the best time for growth. Are the opportunities there waiting to be taken advantage of? What state is your competition in? Do you have the time and resources to plough into this tentative next stage? Careful planning is also key. Can you commit yourself to the preparation involved in a growth strategy?
Steady growth is best for sustained customer satisfaction
Whilst rapid growth may look attractive from a financial perspective, matching a burgeoning balance sheet with better customer experience can be tricky. When companies expand quickly, certain processes and controls can be lost along the way – especially as new employees are taken on, often in haste. This can lead to degradation in the quality of service or product offered to end users – a phenomenon that could actually impair growth and possibly set your business back considerably. Steady growth allows ample time for solid development, enabling you to set sturdy foundations and then lay building blocks when you’re ready. You only move on to the next stage when the previous one is complete, ensuring that quality is retained and your core business values are retained and aren’t diluted. Although profits will be slower to rise, this steady kind of growth is much more sustainable.
Bigger business = better premises
Business expansion often calls for a different location – usually as a result of a requirement for larger or more suitable premises. This in itself presents a challenge, especially when a company has been rooted in one single location since its conception. At Johnsons we specialise in helping businesses to relocate with efficiency and minimised downtime. Whether location or lack of space is the catalyst for your upcoming move, we’re on hand to oversee the process comprehensively, from planning, preparation and project management to asset recycling, storage, packaging solutions and set-up on the other side.
Get in touch today to learn more about the specialist business services that Johnsons can provide.