Top Ways to Keep Your Small Business Growing

With 5.7 million small businesses in the UK, there are a lot of companies out there offering goods and services on a small scale. If you are the owner of one of these SMEs and you’re planning on expanding your small business in 2019, there are steps you can take in order to ensure your SME continues to grow.

Whether you have an established business, or you’ve recently started out, here are some ideas to help give your business a boost this year.

Look at Your Foundation

Before you can start growing your business, it’s worth taking the time to assess your current model. If you have a strong basis, you are more likely to be able to weather any financial storms.

Firstly, remember the purpose of your business and build some core values around this. Creating a company that has strong values will ultimately lead to doing business in a certain way and this, in turn, introduces a working culture that will remain whatever happens and however much the company grows.

Even if you’re still just starting out and you need the financial backing from companies like Liberis, you can start as you mean to go on by creating a positive environment with clear goals. You’re more likely to achieve them if you set them out early on.  

Be Flexible

Although holding on to your core values is key, it’s also important to be flexible. By being open to adapting the business to suit, you’ll find that you are more likely to be ready to combat any difficulties that arise.

Industry changes, economic fluctuations, and political effects can all have an impact on how you run your SME. Keeping track of what’s coming up and taking the time to reform your business will help you get through any challenges and grow your business in a new way as a result.

Have a Brand

Even the smallest independent businesses have a brand. To help grow your company, adopt a marketing strategy and develop your own tone of voice.

Having an immediately-identifiable voice will help you to attract customers and business contacts, giving you the opportunity to expand. While the likes of Coca Cola and Innocent are huge names, by following in their footsteps by creating your own identity, you can build on your initial success. Try writing your own company blog to tease your services and advertise what you do in a striking, informative way.

Use Social Media

If you haven’t already, set up your business across the different social channels. The platform you use may be influenced by the work you do.

If your business is creating beautiful wedding stationery, Instagram is your best social media asset. Meanwhile, if you offer business services, you may find your audience on Twitter.

By tapping into social, you can get feedback from customers and find out what they make of your offering, giving you the chance to build on their thoughts and explore new paths for your company.

What ways will you be expanding your business? Do you have any strategies in mind?

Adam Hansen

Adam is a part time journalist, entrepreneur, investor and father.