Planning to grow your business is about planning to change — for the better. It’s about constantly monitoring yourself and your competitors for growth opportunities.
And that growth can take many forms such as:
- Growing your customer base
- Taking on new staff
- Tweaking your products and services
- Targeting a new market (perhaps exporting)
- Moving premises.
Learning a new skill and providing training for staff are also good strategies for growth. Encourage your staff to think about and share ideas for innovation.
Networking events, workshops and seminars are a rich source of advice and information, as is finding a business mentor. All will help you make invaluable contacts who may either put business your way or let you know about new opportunities.
Another source of both funding and advice for growth is the Federal Government's Entrepreneurs’ Programme run by CCIWA.
This grants program gives SMEs that have been operating for three years or more access to a range of specialists to audit their business processes, help with research opportunities and implement changes to improve efficiencies or reach new markets.
CCIWA can advise businesses interested in the program.
The program is divided into three areas:
1. Business Management
Business advisers analyse your business processes and opportunities for growth to come up with an evaluation report, growth plan and action plan. Co-funding of up to $20,000 is available for eligible businesses to engage a consultant to implement recommended changes.
2. Accelerated Commercialisation
These grants aim to help entrepreneurs and researchers find the right commercialisation solutions for a novel product, process or service. Co-funding of up to $1million is available.
3. Innovation Connections
This aims to help businesses develop new ideas with commercial potential, or to identify knowledge gaps preventing growth. Co-funding grants of up to $50,000 are available to place a specialist researcher with a business for up to a year.
