Home  Business Expansion Expanding Your Business
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Expanding Your Business
When deciding to expand a business, there are a few key things to consider - time, cost and profitability. How long will it take to put in place the actions that will allow the expansion to be successful? How much will the expansion cost? Is the amount needed currently in the budget, or will it need to be borrowed? Will more staffing/resources be needed, and if so, at what cost?
If considering more than one method of expansion, the most important consideration to weigh is long term profitability. Weigh the pros and cons of each method to decide on the most effective way(s).
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