Download Finding Business Resources to Grow Your Company

Finding Business Resources to Grow Your Company
When an entrepreneur first starts up a company, they know that, in time, there will have to be changes made. It is
hoped that most of those changes will come because growth is occurring or is even necessary. For example, when a
company is providing a product or service for their community and the population of that community grows, they must
expand to fulfill the demand. To accomplish this growth, it can be helpful to locate business resources that will aid in
the endeavour.
One form of business resources is a cash injection into the business to be used for additional equipment, manpower
and/or facility expansion. When a review of a number of years of financial records shows steady growth in profit, the
business is deemed suitable for consideration for additional business loans by showing how they plan to expand to
further increase profits. If the current earnings are sufficient to cover the payments on the loan, this is an even better
investment for lenders.
An economic development advisor is just as valuable a business resource at the growth stage as they were at the
onset of the business. Their knowledge about whether an expansion is justified by data projections can help a
company plan its expansion for the most optimal time.
Another great business resource is a real estate firm, as they can be helpful in negotiating new leases, finding a
larger facility, expanding the current facility if possible, and performing an analysis as to whether it is more feasible to
lease or purchase commercial property. It is not uncommon for start-up companies to opt to lease space until they
grow to a point where purchasing is possible.
Companies looking to grow should reach out to all business resources they can to make sure the expansion is
feasible, done well and done at the right time. To do anything less can damage what is currently a strong company.
If you are looking for business resources to get your company off the ground, please contact us