Peter Wright's viewpoint on the growth bug

Now is an excellent time to invest and Finance Wales has the funds to help grow your clients’ businesses, so encourage them to be courageous and get the ‘growth bug’.

With 2009 making for an interesting and uncertain year, many business owners and managers have been forced to take a long, hard look at their priorities. Now, as we move into a new decade, I believe there won’t be a better time for many businesses to invest for growth.

Aim high

At Finance Wales we’ve always been keen to convince Welsh SMEs to get bitten by the ‘growth bug’ and fufill their true potential. For me, 2010 should be all about investing for growth. Even in difficult economic times there are opportunities to be seized, but this will take ambition, confidence and most of all courage.

I’m pleased we’re seeing more and more owners and managers looking outwards and wanting to grow their businesses and break through the £2 million turnover ‘glass ceiling’. This hasn’t always been the case, and right now we’re also seeing more SMEs with a turnover of £10m plus seeking investment funding.

Plan, plan, plan

Wherever your clients’ businesses are today, there are some key things for them to consider if they are to make a real difference in 2010. Most importantly, does the business have a robust business plan that truly reflects what’s happening in the business? Other points to consider include:

  • How is its management team made up and are there skills gaps?
  • What market does the business operate in and what’s its market awareness?
  • Has it considered external threats as well as opportunities?

And this list doesn’t end there.

So, encourage your clients to be courageous and embark on a growth path in 2010 – encourage them to aim high and work with them to write that new business plan.