Where are you now?
Your business has secured sufficient funding to go to market and drive market share. Your revenues are growing and there is now rapidly increasing demand for your product.
This is a crucial phase of your business and the doorway to sustained growth. You will typically need a more substantial injection of cash to build on your initial impact in the marketplace, or help your business towards a step change in growth.
What are your challenges?
Growth brings with it new challenges for your business. The initial pains of starting the business are behind you but to ensure that you continue to thrive you need to stay ahead of industry trends and continue to develop your products and services.
Overtrading and the associated pressures on working capital are real risks to the business. Having visibility over your cash flow on a timely basis is vital to staying above water.
There are new challenges of meeting investor expectations, reporting and compliance requirements and ensuring your business processes are robust and flexible enough to adapt and control the speed of your growth.
An example of one of the companies we work with in this phase is a rapidly expanding mediatech business who we met over three years ago and were providing ad-hoc mentoring support to.
Now a client, as part of our work we carried out a “healthcheck” on the business to highlight potential control weaknesses, introduced them to our overseas expansion service to help facilitate their global growth and our tax team advised them on transfer pricing issues.
How we can help
The issues you face might be new to you, but we can share the knowledge gained through helping our other clients who have been in a similar situation.
PwC delivers focused assurance and tax services to growing businesses. In addition to core audit and tax advice, you will benefit from experts in areas such as systems implementation, indirect taxation, HR and transaction support.
As advances in technology mean that the world effectively gets smaller, many argue that it does not matter where a business chooses to physically locate. However, our research has reinforced some widely held views about the top 5 factors that might help you reach that decision about where to start.