I want to grow my early stage business

Have you made it through the early start-up phases and looking to take it to the next level?  Few things are more exciting than expanding a business. Whether you want your business to grow in size or remain small but successful, growth is critical. 

Step one: Small Business Administration survey

Click on www.sba.gov/library/pubs/eb-5.pdf and on the left hand side of the page check the boxes for “operations audit”; “financial audit” and “management audit analysis” and complete the survey questions.

Step two: Request additional guidance by emailing your specific question... click here to submit your question.

I want to grow my established business

Perhaps you have been in business for a few years and business is good, but you are ready to take it to the next level.

Guidance on planning, operations, finance, legal, marketing and/or sales can be requested by emailing your specific question.  We offer solutions to the various challenges business owners face.

Click here to email your specific question.

Doing business with the government

Would you like to do business with the government?  Certification is a plus that can be used as a marketing tool and create visibility.  Click on the link below to learn about the criteria and process.

Department of General Services  www.dgs.state.pa.us 717-787-6708.

I want to purchase an established business

Prefer not to start from scratch?  Purchasing a business requires important research and decisions.  Carefully check the company for a good business history.  A caution can be overestimating the goodwill figure and a poor public image inherited from the previous owner.

Step one:  Review a checklist of considerations

Some important considerations are:

• Vendor - reason for sale of business

• Sales - patterns, trends, customer base, current suppliers

• Costs - fixed and variable costs, staff costs

• Profits - analyse financial records, future cash flow and profitability

• Assets - identify and check all assets, including intellectual property and leasing arrangements

• Liabilities - outstanding debts, refunds and warranties

• Purchase agreement - review carefully

• Tax - GST, Capital Gains Tax, stamp duty implications

• Legal issues - leases, business structure.

Step two:  For advice and protection in buying a business we suggest that you seek the services of a solicitor, accountant or business adviser.  Email your specific question to smbiz@greaterreadingchamber.org.