Options for growing your business
There are many different ways to grow your business. Before you decide which option is best for you, we recommend you identify new opportunities or revisit any ideas that you may have for your business.
Here is an introduction to some of the ways you can grow your business.
Apply for grants and assistance
Australian, Queensland and local governments can help your business to expand, commercialise, research, develop, innovate and export. You will need to successfully apply for a grant, rebate, subsidy, incentive scheme, research fellowship or other assistance. Learn how to find grants and business support, and prepare and write grant applications.
There are many ways to expand your business. For example, you could move to larger premises, buy or lease other premises, hire more staff or increase the products or services that you offer. Another option is merging with, or acquiring, another business.
Exporting gives you access to a large pool of customers. If you can produce your goods and services at a stable and internationally competitive cost, and increase your sales through exports, your business can enjoy improved economies of scale. Learn more about exporting or attend an exporting workshop.
Importing goods into Australia is an effective way to increase your products and services to meet market demand. Learn more about importing.
Becoming a franchisor can help you to capitalise on your existing customer base, as well as attracting new customers to an established brand. Learn more about buying a franchise.
Selling your products or services through an online shop is another way to grow your business. Learn more about the benefits of doing business online.
Raise more capital
If you raise more capital for your business, you can invest in premises, stock, marketing, staff and other resources as you expand. Your accountant, financial adviser and business mentor can help you to decide how to raise more capital for your business. Learn more about funding your business.
Innovating and commercialising an idea can help grow your business. Innovation can be as simple as product improvement or creating a new product or service.
Find a mentor
An experienced business person, or a mentor, can help you develop your business skills and achieve success earlier than you may have on your own. You might choose a friend, family member or business contact as an informal mentor, or participate in a formal mentoring program run by a government agency or industry association. Learn more about business mentoring.
Improve customer service
Improving your customer service can help you to sell more to your existing customers and find new customers. Happy customers will refer your business to others providing you with free, favourable word-of-mouth advertising.
- Access business support services using the Australian Business Licence and Information Service (ABLIS).
- Learn more about government tender opportunities.
- Find out how to grow your business through quoting.
- Last reviewed: 25 Jul 2019
- Last updated: 11 May 2022
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- Mentoring for Growth Day - Online 03/04/2023
- Mentoring for Growth Day - Online 04/04/2023