Sherry Coutu wrote the Scale Up Report back in November 2014, but it continues to be one of the best reports on business scale up problems to this day.
The report outlines some key problem areas, and if businesses looking to significantly grow can solve these problems, they will find scaling up much easier.
- The number one problem for most businesses looking to scale up is difficulty in attracting the right talent. If you can’t attract the right staff, you can’t deliver to your customers.
- The second most important factor that stops businesses quickly growing is lack of experienced leadership.
- To really grow your business you need access to customers and sales, both at home, and away, barriers to new business developments and markets are a common problem to businesses looking to scale up.
- The fourth problem for businesses looking to significantly grow is access to finance that will allow them to enter the next stage of growth.
- Infrastructure problems such as office spaces, support services like broadband and phone, all contribute to restricting scale up of growing businesses.
You can read the full report here