Expanding a Business

The process of expanding an existing business is similar to starting a new one. This may require a screening process depending on how the assigned business advisor sees the situation. Should the advisor decide that a gap analysis is necessary, then a screening exercise will take place. This will highlight the training needs of the entrepreneur. The advisor will use the emerging gaps to design an appropriate training programme for the entrepreneur which may also address similar needs for other entrepreneurs as well. In most cases, expanding businesses require interventions in the areas of management skills and competencies, mentoring, business planning, access to finance, and market access. LEA's pool of consultants is utilised to provide both the new and expanding SMMEs with the necessary skill and competencies, mentoring and business planning. For access to finance, LEA will direct all completed business plans to respective financial institutions for funding.

Other interventions which may be required by an expanding business are the technology adoption and diffusion. LEA is resolute about creating a new breed of SMMEs whose operations and business processes are technology driven. Technology provides SMMEs with a competitive edge and the requisite level of efficiency for profitability and sustainability.