1. Planning for Small Business Growth: Strategies to Hit the Next Level

    After creating your business plan, raising capital, and opening your doors, your next task is to make a profit. But once the money is coming in and your operation is sustaining itself, you want to start thinking about growth. How do you achieve growth? The answer is to plan for it, and it is never too early to start, said Jay Seyler, vice president of Business Banking at PeoplesBank.

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    1. Before a business can grow, it needs to have a solid foundation.
    2. Many times, margins still fall due to higher costs from the increased demand for materials and labor.
    3. Any business considering an acquisition must conduct due diligence on their prospective targets to assess the risks and opportunities of a proposed transaction.
    4. More businesses are looking to diversification as a core business strategy.
    5. In terms of risk assessment, think short- and long-term.
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