Is your business prepared for rapid growth?

To help businesses respond effectively during periods of rapid growth, a new on-line guide has now been launched by Business Queensland.

The Responding to Rapid Growth Guide provides useful information and strategies for dealing with growth, and gives practical advice for:

• responding to cash flow shortages
• dealing with staffing changes and skills shortages
• moving premises
• continuing with good customer service

Some of the key questions for businesses looking to grow their operations are outlined in the following checklist:

Analysing your business

• Do you know where to find advice and support?
• Have you conducted business and market research?
• Have you reviewed your business and marketing plans?
• Are you aware of standards and codes of practice?

Improving your internal processes

• Do you need to change your business structure?
• Have you considered improving your financial management practices?
• Have you considered your changing legal obligations?

Growth in your workplace

• Do you need to employ people?
• Have you considered training for yourself or your employees?
• Do you need to move to bigger premises?

Opportunities for business growth

• Can your business benefit from innovation?
• Have you thought about expanding your business online?
• Have you considered franchising your own business?
• Can your business benefit from applying for tenders and contracts?
• Have you thought about introducing environmental management practices?
• Is your business eligible for grants and financial assistance?
• Have you thought about exporting goods or services?
• Have you thought about importing goods or services?

To find out how you can build and execute growth strategies, download the Responding to Rapid Growth Guide.