The importance of outlining responsibilitiesWhen it's time for expansion, small businesses often face the challenge of outlining responsibilities with new hires and current staff.
"When small businesses scale up, they often face problems in three areas: leadership, talent acquisition, and organizational culture," Szafranek said.
How to minimize riskWhile running a business comes with inherent risks, small businesses don't have the same resources as large corporations.
Experts also advise small businesses to implement changes slowly, create a well-researched plan, and set up a timetable of what needs to be done successfully at each stage.
"The biggest challenge we face in scaling up as a small company is resources," Stewart said.
Persons:
It's, —, Daize Washbourn, Washbourn, Roza Szafranek, Szafranek, they're, Leonie Stewart, Stewart, Jennifer L'Estrange, Red Clover, Clover, L'Estrange, We've
Organizations:
Service, Business, Bacchus Agency, Bacchus
Locations:
London