When a small business becomes successful, does it become a medium-sized business? Not necessarily. The average small business has different priorities from the bigger players in the market, and at times there are advantages to being a small, agile company. Nonetheless, as a small business becomes more established, there is no doubt that in certain ways, it will grow. Handling this correctly is one of the greatest demands on a small business owner.
For example, as a small business increases its customer base, it will inevitably have greater demands on its workforce. The likelihood is that it will need to take on more staff, and although it will see its profits climb, there are likely to be greater financial demands upon the business. Among these is the question of business premises. Can a small business stay indefinitely in a small office, or do you need to move when you grow beyond a certain level?
Point #1: The Personnel Question
A business may start with as few as one person. As its business grows it may need to add support and additional departments. With more international business coming in, it may need an Overseas department. As it adds more tech, it may have to add an IT specialist, and so on. A small business which is thriving may still have a small staff, but for each person added it will become more difficult to work within the confines of a small office. If people are crammed in without sufficient space to work, efficiency will be affected. So if you’re beginning to notice space issues, it may be time to seek bigger premises.
Point #2: The Storage Question
Greater computing power, cloud storage and handheld devices have meant that the reams of documents that used to be common in business offices are fewer in number now. However, there is always going to be a need for hard copies and document storage. That being said, there is no need for the business to have a full archive on-site – documents can be digitized for storage within the office, and the cabinets with the hard copies moved to a business storage facility. In the rare event that you need a hard copy of a document from 2017, you can still easily access it, but you may be able to maximize space in your office and negate the need to move.
Point #3: The Impression Question
While it may be possible to make the case for keeping your business in its older, smaller office, there is the question of what happens if you are looking to host potential business partners on visits. It may be that your IT department and your Debt Recovery department get on like a house on fire and don’t mind being sat back-to-back. But will a potential business partner feel inclined to sign up to work with you if they get the impression you run a chaotic office? If you’re looking to open up more and are doing well enough financially, the time may have come to move to bigger premises – but that’s a decision only you can make.
