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The ultimate SME checklist — Strong foundations for growth

If you’ve built your own company, you will know when the initial ‘month to month’ stage is over, and things are looking a lot more stable.  There’s a solid customer base, money in the bank and a growing headcount.  So, when your new business is growing enough to warrant heading to the next stage, it’s important to take stock and plan ahead.  You’ll need a different mind set and action list from when the company was first starting out. Quorum Business Park, who offer offices to rent in Newcastle, have composed this checklist for growing businesses looking to move on up, focusing on what to look for in a new office space, and questions to ask when viewing the space.

Check over your business plan

What worked when you were starting up might not be serving you well now that your business is growing. If you’re thinking of taking the step from start-up to SME, you need to review and revise your business plan. Here’s our checklist of things to consider:

New office space

A bigger business could mean more employees. For start-ups working out of a serviced office or co-working space, this will get uneconomic as your headcount grows.  You will also want your own front door and the ability to personalise your space to put the character of the business into the office, particularly if you have customers visiting you.  . The right work environment can increase productivity and have a positive impact on work quality. There are a few things to be aware of when looking at office spaces:

Funding it all

Of course, growth needs funds, whether this is from your own profits, investors, or through government funding.

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