Exemplas’ Malcolm Williamson, Commercial and Enterprise Director, was featured in an article in the Financial Times on Tuesday 6th Oct which talked about the most effective ways to grow a business successfully.
14/10/2015, in the press
The article entitled “Founders face dilemma over right path to growth” by Hugo Greenhalgh explores whether it is better for a business to grow and expand organically or by acquisitions. As a partner in two Growth Hubs and deliverer of UKTI export support contacts in East of England and Yorkshire and Humber, Exemplas has direct experience of working with growing businesses and knows very well the challenges of growing a business, as well as the benefits that can be gained when business owners achieve and sustain growth.
The article, which features commentary from leading business figures, discusses the pitfalls of growing too quickly and makes the point that acquisition isn’t always the best choice for businesses with more limited ambitions to remain local. However, as we are finding with some of our own small business clients, the internet and ecommerce via online platforms such as Amazon and ebay have opened up significant potential opportunities for more rapid and cost effective growth.
Clearly the decision about how and when to grow depends on a number of factors within the business. For some businesses, Malcolm Williamson believes, organic growth can be a challenge. Businesses commonly lack resources such as funding and individuals with the skills and attitude to drive growth. It is true that expanding into new markets can be too expensive for some, however Malcolm believes that “confidence” is often a determining factor in whether a business feels it can grow by acquiring a competitor. These businesses may mistakenly believe that growth by acquisition is “out of their league”.
Hugo Greenhalgh’s article is available on the Financial Times website. To read more click here.