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Business Resources - Growing Your Business

Assessing Your Goals

 

Benefits of Growth

Improve access to financing

As your business assets grow, you may be in a better position to borrow against them, leveraging your success to access funds you need to finance growth. While lenders won’t ignore the risks involved, a growing business may open doors to financing.

Decrease costs

Your growing business can achieve greater economies of scale by spreading fixed administrative costs over more business activities. You may also find yourself in a better position to negotiate lower prices from suppliers based on higher purchase volumes.

Attract good employees

Highly skilled and motivated employees are attracted to fast-paced, growing businesses. As your business gains a better profile, more of these employees will come to you looking for a stimulating and challenging work environment.

Increase personal wealth

A prosperous business will have a higher value to potential buyers and will generate more cash flow, which, in the long run, may mean higher dividends paid to shareholders or a higher salary for you.

Talk to a Small Business Advisor

To find out more about how RBC Royal Bank can help your business grow:

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08/10/2011 15:34:12