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Time for expansion

Once your business is established and sales are at a satisfactory level it is time to review your business plan and decide how your business should move forward.

If you want to expand both the top and bottom lines of your business you might need to review the entire plan. Should you go for ‘more of the same’ or should you re-evaluate the whole purpose and direction of your business? How should the new direction complement the old?

For example, should you take this opportunity to put your business onto the internet and make use of the new technologies to compete in new, global markets? And if so, how will your new e-commerce activities tie in with your more conventional trading activities?