The UK is set to continue its status as a global 'scale up' location.
But, becoming a scale-up business demands a different skill set to the one you employed when getting it off the ground in the first place – now you need to manage both growth and risk.
In practice, that means planning ahead so that the business has sufficient resources in place to service the needs of your clients and customers, while ensuring that those resources are managed in the right way for your company.
So, here are five tips to get you started with the scale-up challenge:
- Test the risk in your businesses's growth
- Don't say yes to everything
- Diversify the business
- Manage cultural change
- Use management information wisely
For further information please visit http://www.pwc-myfinancepartner.co.uk/business-blog/start-scale-five-ideas-growing-business/
The 2016 survey of ScaleUp CEOs, reveals that 83 per cent of scale up leaders expect their growth to continue despite the uncertainties created by Brexit. 88% of scaleup CEOs agreed that that they would be able to grow their business faster if it were easier to develop the leadership talent at the firm. The survey also showed a growing desire to see local universities and business schools develop executive education programmes tailored for scaleups and their teams. The key conclusions are: We have ambitious scaleup leaders who want to scale to even further heights. These leaders continue to most need help on talent, leadership and access to markets. Meanwhile, finance and infrastructure remain an important complement to these needs, with specific actions required to address local disparities and to unlock further institutional investment.