Small Business Growth

As with many things in life, size isn't everything. You may be better off, both financially and emotionally, staying as a small business.

Growing your business may make you wealthier and give you increased status (if that's what you're after). But growing a business involves plenty of difficulties that should give you pause for thought:

• Increased borrowings. You'll probably need extra short-term funding to pay for more office space, extra computers, more stock and so on.
• Increased staff. Your abilities as a manager of people will be severely stretched as you start to increase the number of staff. You will have to learn new skills of delegation, dispute resolution and motivation.