Expanding a Business
For more information on how to start, manage or expand a small business within a specific industry, click here.
McLean County Demographics
When deciding on the location for a business, it is important to understand the market the business will be servicing. Business owners can use demographics to determine their clientele.
In some instances, “protection” may be sought for a product, service, new invention or printed material. Intellectual property will help secure the creations exclusive to a business.
Marketing is the key to the success of a business. It is the way a business advertises to its consumers and customers, ultimately creating strong revenue.
Opening a New Location
As a business grows and reaches its full potential in one location, it may be time to open another. The step requires much preparation and modification of business documents.
Mergers and Acquisitions
A business can grow by buying or merging with a smaller business. The process is similar to starting a new business, but an owner will need to take extra steps to protect their existing business.
Exporting goods can increase a businesses profits, reduce market dependence, and stabilize seasonal sales. As a business grows, the exportation of products may be a step to consider.
Government contracts are a tremendous financial opportunity for small businesses as the U.S Government is the single largest customer in the world economy.