{"id":160,"date":"2023-10-31T22:33:35","date_gmt":"2023-10-31T22:33:35","guid":{"rendered":"https:\/\/paysprint.ca\/blog\/?p=160"},"modified":"2023-10-31T22:33:35","modified_gmt":"2023-10-31T22:33:35","slug":"why-every-small-business-needs-a-growth-plan","status":"publish","type":"post","link":"https:\/\/paysprint.ca\/blog\/why-every-small-business-needs-a-growth-plan\/","title":{"rendered":"Why every small business needs a growth plan"},"content":{"rendered":"

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f you’re like many entrepreneurs, you never take time to sit down and think about your future growth\u2014how to take your company to the next level in a smart, disciplined way.<\/p>\n

But growth is an issue business owners ignore at their peril. In fact, it might just be one of the most important issues facing them as entrepreneurs.<\/p>\n

\u201cIf you decide not to grow, you may be paving a path to failure,\u201d says Patrick Latour, Senior Vice President,\u00a0Growth & Transition Capital<\/a>, BDC Capital. \u201cIf you don’t grow, your competitors will, and that will put pressure on you.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Create a road map for growth<\/h2>\n

The good news, Latour says, is that business owners can create a road map to guide them and reduce their risk as they grow their enterprise. The road map can help them find more growth opportunities and avoid common mistakes, like failing to delegate responsibility to employees.<\/p>\n

Start by committing time to outlining a plan for your growth, Latour says. It should include the following important basics:<\/p>\n