With interest rate rises, skilled-staff shortages, increasing competition and low margins affecting the management of finances, business owners would be wise to review their operations and put in place steps for business growth,

This is the view of Steve Willingale, acting CEO, of the Penrith Valley Economic Development Corporation, as 2008 gets underway. “Managers would be wise to embark on a thorough step-by-step review to make sure the foundations of their business are secure,” he said.

“The Growing Your Business Checklist covers many of the issues needed to help them grow their business and includes a series of key questions.”

Analysing your business. Do you know where to find advice and support? Have you conducted business and market research? Have you reviewed your business and marketing plans? Are you aware of codes and standards of practice?

Improving internal processes. Do you need to change your business structure? Have you considered improving your financial management practices? Have you considered changing your legal obligations?

Growth in the workplace. Do you need to employ additional staff? Have you considered providing training to yourself and your employees? Do you need to move to bigger premises?

“To download the checklist managers should access business.gov.au which is an initiative of the Australian Government,” Mr Willingale said.

“As well the business.gov.au events calendar lists business events for February, which includes networking functions, workshops and seminars focusing on starting and improving your business.”
www.business.gov.au

Email your views on this story to swillingale@pvedc.com.au.

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