There are numerous funding options available for businesses looking to grow.
It is important to identify what your aims and objectives are as a firm, and to then locate a suitable funding source available to your business. There are various common growth strategies, such as developing new products and services, attracting new customers, hiring and training staff and increasing sales; however we focus on securing contracts as a means for your company to grow.
Business Growth Planning
Once established, a business is likely to consider the ways in which it can grow and become more successful. For many of our clients, expansion is achieved through securing private and public sector contracts. Bidding for, and securing, contracts is a reliable way to expand your company, increase operations and become more profitable, either in your normal product/service areas or by diversifying into new markets.
Once you have passed the PQQ and tender stage for a contract and enter into the agreement, there is likely to be a fixed timescale and also fixed revenue associated with the project which provides your firm with reliability and stability. Due to the tendering process, especially for public sector contracts, you will already have had to outline implementations for the contract and how the goods or services will be delivered, which is great news for your business as it acts as a plan for the contract.
NBSL (Northumberland Business Service Ltd) operates across the country and assists pre-start, new, and existing businesses to grow and develop. They offer a number of different funding and support programmes, including help from external suppliers and experts to transform your business.
Executive Compass® is a registered provider for NBSL and has worked with numerous companies across the UK to assist in their growth and expansion. Your business can access funding and support through NBSL, and our team of professional bid writers will work with you to secure public or private sector contracts, or offer training to increase your bid writing skills in-house.
Alternative funding, via organisations such as ReAct and MAS, is also accessed regularly by our clients to take our one-day bid writing workshop, which provides your team with the skills and knowledge to write winning PQQ and tender submissions in-house.
To discuss further how Executive Compass® can assist in your business’s growth, contact us today on 0800 612 5563 or fill in our contact form, and one of our bid team will be in touch.
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Posted on 09-02-2024