This short video (6 minutes 12 seconds) explains what you must consider as you prepare your business for growth. The tutorial tells you:
- How to carry out a business review - covering things like premises, location, equipment, staffing, current financial situation, staffing, customers, competitors, etc. For best practices on business reviews, see measure performance and set targets.
- How to know if you are ready to grow - discussing some common business growth implications and suggesting how to avoid problems during business growth.
- The different ways you can grow your business - eg through market penetration, market development or product development, or other business growth strategies.
- How you can put together some concrete goals - by planning strategically and preparing a business plan for growth.
For quick takeaways from this video, see top tips to prepare your business for growth.
Know your legal responsibilities
- Do you need a licence?
- Get the right business insurance
- Comply with the law when providing goods and services
- Know your customers' rights
- Distance and online selling rules
- Understand pricing legislation
- Buying goods from outside NI
- Selling goods outside NI
- GDPR compliance checklist
- Pay your business rates
- Understand staff contracts and your responsibilities
- Taking on contractors and subcontractors
- What you need to do about health and safety
- Know your legal obligations on pensions
Understand tax and VAT
Sell and market your products or services