Existing Business Owner

As surprising as it might seem, an existing business needs a Business Plan as much as a start-up business.

The main reason is growth.
 If you are operating a business and everything is working nicely you’ll need to be even more aware of your competitors because they probably want to be more like you and have a business that works that well too. In degree-level qualification Strategic Management courses, quarterly, half-yearly and annual reviews are often strongly recommended because, in business, you are either growing or you’re not growing. If you’re growing (or at least want to grow) you will experience similar issues as a start-up business (albeit with more historical information and on a larger scale).

small business loan applicationHow Will You Demonstrate the Growth of Your Business?

You might need to source capital or find investors or get a loan to grow and most of these tasks requires you to demonstrate how your business will grow by producing a business plan. It’s easier for you because you have a history and you know your industry so you have even less reasons not to have a Business Plan.

If you are a business owner who has learnt about their trade and built their business by experience, a Small Business Management course will provide you with industry recognised qualifications that cover subjects that are relevant to all businesses. These topics have been validated by the Australian Government’s training regulatory bodies with consultation with industry so you know you are on the right path to better systemising your business for growth.

Also, just like a Start-up Business, a comprehensive Business Plan provides you with clarity on the possibilities for the growth of your business and gives you something to commit to over the next couple of years. Doing the research for your Business Plan also ensures that your knowledge of your market is current.

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