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Plan for growth

Plan for growth

Your business is established and making a profit.  Now you’re thinking about how you can make it grow.

Watch the video below from the Business Support Helpline.

 

Many businesses think of growth in terms of increased sales, but it’s also important to focus on how to maintain or improve your profitability.

Things you can do to help grow your business include:

Scale Up

There is extra support available for Scale Up businesses. A scale up business is an organisation that has grown 20% each year, for three years consecutively (either in turnover or employee numbers) and which had 10 or more employees at the start of the observation period. Find out more about the Scale Up initiative here.

As your business grows

You must register for VAT if your VAT taxable turnover reaches more than £82,000. Click here for more information on registering for VAT

You may also find that a different legal structure is more suitable as your business grows. Click here for help regarding business structure.

As soon as you start employing staff you will need to get Employers' Liability insurance. Click here for more details.

Watch the video below regarding Important things to consider before growing your business. 

Useful Links:

Growth Hub Providers - Expertise to help your business grow.

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