Online guide to help a company develop

Aug 3 2009 by Karen Dent, The Journal

There are a number of strategies for business growth. These include:

:: Increasing market share, by taking customers from competitors or attracting new business.

:: Diversification, where new related products or services are offered to current customers, established products are entered into new markets or new products are entered into new markets.

:: Partnerships, joint ventures, mergers and acquisitions, which can deliver rapid growth.

It is important that businesses carefully consider their options for growth, choosing the route that fits most naturally with their company’s present position and one that works with the strengths within it.

Business Link has an online tool available at www.businesslink.gov.uk/northeast that allows organisations to assess their current position and put together an action plan for growth.

For further information, visit www.businesslink.gov.uk/northeast or call 0845 600-9006.