Biz Info: Planning for Growth

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How Will You Prepare for Growth?

Now that your business is up and running you may be thinking about growing your business. Planning for growth will help you develop realistic business goals and expectations.

The steps needed to reach this growth stage vary by business type, industry, and personal situation. The best way to grow a business can only be revealed after analyzing the current business and by setting attainable goals and growth targets.

If growth occurs without a solid game plan or too rapidly, cash flow, assets, quality control and business systems can suffer irreparable damage. Your business growth should be planned carefully and the most basic tool for this is a revised business plan that takes growth plans and risk assessment into account.

Business Assessment
Is Your Business Ready for Growth?

Things to consider before expanding your business - Before moving ahead with growing your business consider whether you and your business are ready.

Developing a Growth Plan
Does Your Business Plan Reflect Your Growth Plan?

How to Plan your Business's Growth - This section from Business Development Canada offers practical advice for planning your business's growth.
Plan For Growth – As part of Royal Bank’s business resources, this page discusses basic competitive strategies

Managing Risk
Is Growing Your Business Worth the Risk?

Tips on Using Risk Choices and Examples of a Business Expansion - These guides provide a simple process to identify, measure and manage risk and to help you make better management decisions.

Phone the Ag-Info Centre, toll-free in Alberta at 310-FARM (3276), for assistance.

For more information about the content of this document, contact Kathy Bosse.
This document is maintained by Ordella Knopf.
This information published to the web on November 16, 2016.
Last Reviewed/Revised on November 6, 2018.