Now you have got over the initial hurdle of setting up your business, it is time to look at growing and/or scaling your business. The journey of business growth you find yourself on, entirely depends on your ambitions for the business, the industry sector & market and of course finance. These all impact if, how and when you can grow your business. There are alternative ways to scale your business, not just with increased sales but also maintaining and improving productivity and profitability.
Solent LEP provide opportunities to engage with support providers in the area who assist with business growth. You can see below, a number of resources that focus on growing and scaling your business.
Innovation is the successful development and introduction of new ideas. Investing in innovation, research & development is important for economic growth. Businesses that do so often emerge stronger and more competitive than they were before. If a company creates something unique it has intellectual property (IP) that it can protect and exploit.
The Solent region is an outstanding place to do business.There are hundreds of business support schemes nationwide committed to supporting business and economic success promoting investment and innovation. Finding the right business support in your sector will help your business solve challenges and take advantage of the best opportunities.
The Solent region is already the preferred location of choice for many blue-chip companies. The region offers a diverse portfolio of established industrial and commercial sites, alongside new development opportunities to help businesses grow. These include urban, waterside and rural locations serviced by excellent communications to London, the UK and the rest of Europe.
Total website sales in the UK are worth £164 billion. The UK has more online shoppers than any other major country in the world. Yet, close to half of all the small businesses in the UK don’t use the internet for their business. That’s about two million businesses – sole traders, or firms with just a few employees – that could be benefiting from having their business online and grab a slice of that £164 billion.
The day to day running of a business is filled with challenges and demands that allow you little time to step back and work on the future of the business. Committing as little as a couple of hours a month to take an objective and broader view of your business can reap huge benefits for you, your business and often your turnover and profit as well. The mentor’s role is to support, stimulate and challenge, using their own extensive skills, knowledge and experience to help you view your business in a different light, spot opportunities for development and implement the changes needed for a strong future.
There is a growing “green economy” emerging across the Solent region with many strengths emerging in research and development,environmental technologies, energy, waste & construction. The development of a low carbon, green economy in the Solent area will help stimulate sustainable economic growth, create jobs & reduce our carbon footprint. The Solent area will become the national leader, internationally recognised for its low carbon, green economy. Sustainability will be at the heart of the region’s success in generating economic growth, prosperity and improving the quality of life.