Analyse the guidance, advice and support available to a business to consolidate its operations and achieve sustained growth.

Authors Avatar by ellouise1997hotmailcom (student)

I am working for Hounslow Chamber of Commerce as a trainee manager. The Hounslow Chamber of Commerce provides advice to existing businesses and to entrepreneurs seeking to set up their own businesses. In my user guide I am now going to analyse the guidance, advice and support available to a potential business and what actions it should take to consolidate its operations and achieve sustained growth. My analysis will also include how a business establishes itself in the market and how it looks to grow its activities to ensure its survival.

Before a business can expand its operations they will need to make sure to complete proper research. For instance, they must consider the state of the economy before expanding. It is better to expand a business in the boom period because people have more disposable income. This means there will be an increase of demand in the businesses products of services leading to increased sales, increasing profits. Whereas expanding in the recession would result in loss of sales as your products wouldn’t be at high demand as people do not have as much disposable income.
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Another way to expand is to change the legal structure or type of ownership. For example, expand from a sole trader to a partnership, from a partnership to a private limited company, to a private limited to a public limited company, to a public limited to a franchise. However, the business should be aware that when changing the structure means a change in liabilities. For instance, sole traders have unlimited liability which is when, if your business becomes bankrupt the owners personal assets are sold to pay it off. But, public and private limited companies has limited liability ...

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