Grow your business

How can you grow your business?

Growing your business may help reduce costs, increase your competitiveness, grow your customer base and maximise your profits.

You could grow your business by:

Expand your product line and services

Consider reviewing how you can make your product or service different to your competitors. You may be able to modify or expand a product or service your business offers, which may be based on factors such as customer feedback, what’s already in the marketplace, consumer insight, and other research.

Expand your business online

Selling your products or services online (over the internet) may help you reach a larger customer base and grow your business. If this option is appropriate for your business, you may wish to develop a digital strategy.

Market your business

Marketing helps you gain and keep your customers. To develop your marketing goals and strategies you need to consider your:

  • products and services
  • marketplace
  • customers
  • competitors

It is important to focus on who your customer is, their wants and needs while continually assessing your marketing strategies and make changes if required.

Hire staff including trainees and apprentices

If you have been running your business for a while, you may need to employ staff for the first time. Consider the type of employee and skills you need. Employment conditions, pay rates, and other costs will vary depending on your needs.

For further information visit the Fair Work Ombudsman

An apprenticeship (trainee) is where a person learns a trade from a skilled employer, and agrees to work for a fixed period of time, on set wages. Investing in training through an Australian Apprenticeship can provide your business great benefits. In hiring an Australian Apprentice, you can negotiate off-the-job training components around timing, location and the nature of the training to meet your business needs. Australian Apprenticeships combine time at work with training, and can be either full-time, part-time or school-based.

For further information visit Australian Apprenticeships

Train yourself and your staff

Continually upgrading the skills of your team can help you continue delivering quality products and services while keeping you competitive. Attending training on new technologies, industry specific topics or financial management may help you increase profits, productivity, staff motivation and customer satisfaction.

For further information visit My Skills, Skills and training, and business.gov.au.

Export goods or services overseas

Exporting is where goods or services from one country are sold in another. Products and services with a high demand in overseas markets offer the best potential for success. It’s important to research the place you plan to export to as well as understand the suitability of your product or service in that market. Develop a detailed export plan including your business goals, objectives, capabilities and constraints of your product or service. Understanding the potential size of the export market, the suitability of your product in that market, your competition, and the local economic conditions are also important.

For further information visit business.gov.au.

Franchise your business

Franchising is where you as the owner of the business providing the product or service (franchisor) allows the franchisee/s to sell and distribute your goods or service or intellectual property, as well as using the business name for a fixed period of time.

If you have a successful business, franchising may be a great option to consider as a way of expanding your operations.

For further information visit the Franchise Council of Australia

When you have clear direction of how you want your business to grow it is important to communicate the business goals to all staff and key stakeholders, so everyone is clear on what needs to be achieved for success. You may want to consider developing a business plan and strategy for growth.

Download the Grow your business guide.

The NSW Government has a state-wide subsidised business advisory service, Business Connect. You can browse the network of Business Connect advisors by region, topic, location or industry and select one you think appropriate for your needs. Please register online to book an appointment with your chosen advisor who will be in contact with you within the next two business days. The first four hours of one-to-one business advice are free.