You are looking to expand your business, possibly into a new market or a new location. You are considering your options or organic natural expansion versus buying a business already established in the new market.
Organic growth is slower, but it is more controlled. It allows you to do business your way, with customers and employees you hand pick. Organic growth can still be stressful. Early on overheads will likely exceed the income generated.
If you want to take a big step rather than a slow build up buying a business can offer enormous benefits. Taking on existing customer relationships, staff, and networks can give you instant economies of scale. Buying a business is not without its challenges. Managing financing issues, rapid change and increased activity can be difficult. Maintaining and motivating the employees in the acquired business is essential. Ensuring momentum in your newly acquired business will largely come down to staff engagement.
Whatever path you choose to you will need a trusted business adviser to assist you. Talk with us at BLG, so our team can assist you to assess opportunities for growth, identify practical solutions and implement strategies. BLG works collaboratively with respected financiers and lawyers so you have everything you need to grow with confidence.