Business is going well for Mike.
He wants to expand.
What are his options?
Should he expand his product range?
Hire staff?
Start trading internationally?
How about opening a branch office?
Expansion comes with risks
and Mike needs to know what they are.
Is there a market for his new products?
Does he need extra insurance for international business, or permits?
Mike needs a growth plan to help him focus.
He visits Business.gov.nl,
the point of single contact website that offers entrepreneurs
complete and up-to-date government information.
Here he finds all he needs to know.
The market research he has done is the input for his marketing plan:
he knows which products show the most promise;
research into the national and international market
has shown him where to focus his efforts.
Next, he has to think about promotion.
He needs to consider his target market to find the right mix
of traditional and online marketing tools.
Financing is an essential part of growing.
Now that Mike knows what he wants to do,
he needs to decide how to finance the expansion:
go for one source of funding
or for a mixture?
Market research, marketing and finance
those are the ingredients for a growth plan
that will work.
Mike knows how to move forward.
And so can you,
with a little help
from business.gov.nl