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19/06/2017

What can a £100k business loan do for your growth strategy?

You’ve been successfully running your business for a few years, you’re established, income is stable and now you are focused on making a significant investment in your business’ growth strategy.

A £100k loan can be a big commitment for a business owner. But with a clear investment strategy it can be the catalyst which propels your business to a new level of success.

Here are a few different growth strategies you could invest in:


Digitalisation

Digital technology is allowing more businesses to serve and interact with their customers in a range of innovative ways. Digitalising your processes and services can boost your competitive edge in the market and allow you to introduce time saving and cost-effective automation.

Recruitment of a specialist

Sometimes you don’t have the in-house resource you need and outsourcing can be costly over time. Recruiting an experienced specialist can allow you to build new services around their expertise developing new in-house skills while offering your clients more.

Upgrade of equipment/machinery

Investing in the right equipment can help you both reduce costs and diversify your business. For manufacturers in particular, it offers a chance to boost production or make energy efficiency savings to free up more cash in the business.

Relocation

Relocating your business can increase footfall or bring you closer to transport links. Upgrading your premise can also help unlock new potential. More space can support increased production and more customers through the door. Extra floor space can also be rented out to generate extra revenue.

Refreshed brand

Investing in a brand refresh can be like a makeover for your company. It can allow you to stay relevant and grab attention in a busy and noisy market. You may think if you are growing why change things, but a refreshed brand can help you sustain and even accelerate the next phase of growth.

There is no right answer when it comes to growing your business and owners can invest in a mix of tactics to help them with their next growth stage. As long as you have a strong strategy in place you can secure finance with confidence and move your business forward to its next growth milestone.

If you’re looking to invest a smaller sum in your business read our blog on what can you do with a £10k business loan.