Growing your own small business is one of the most immensely rewarding things you will ever do. However, there’s no denying that the current climate for small businesses is tough. Businesses are shutting up shop – whether biting the bullet strategically or liquidating because of insolvency – at a rapid rate and it can be hard to cut through this negative noise to put in place a growth plan. 

While we cannot reduce competition levels or change rising financial pressures on small businesses in 2025, it’s important to note that growth is still possible in the current landscape. Keeping up with market trends, adapting your business strategies for new techniques and technology and maintaining a clear and realistic vision are all skills that you will need on this journey and we’ve collated a list of key tips and strategies on how to grow a small business to help you succeed.

Get Your Finances In Check First

Before you consider any aggressive growth strategies, it’s crucial to have a firm grasp of your financial situation. This point is particularly pertinent at all times, but no more so than in 2025, where rising wage costs and changes to National Insurance will soon come into play and can significantly impact your budget. By evaluating how these factors will affect your bottom line, you can ensure that your growth remains realistic and sustainable. Having your finances in check will not only allow you to make informed investment decisions but also help you mitigate potential risks that could threaten the stability of your business further down the line. 

Leverage A Variety Of Marketing Techniques

If you do have money to invest in the growth of your small business, effective marketing will be key. Having a diverse set of marketing techniques at your disposal widens your net and allows you to better attract and retain customers. There is a massive variety of different channels and techniques that you can make use of to promote sustainable business growth. SEO, affiliate marketing and paid advertising are all great techniques. You should also be sure to make your business as accessible as possible, ensuring that you have a well-designed website that can handle both PC and mobile traffic and accept a variety of different purchasing options. However, do note that simply pumping money into marketing is not a recipe for success. Choosing channels that align with your business goals and message will be far more effective than opting for a spend, spend, spend approach. 

Network And Collaborate With Others

Interactions with others are free and can be key in making the connections you need to grow a small business. After all building positive, long-lasting relationships with other businesses and helpful contacts is a great way to win new work and quite simply let others know you exist. Whether you find yourself meeting potential partners or clients or obtaining referrals from others, a willingness to network and collaborate opens up opportunities you may otherwise be unaware of.

Consider The Customer Perspective

Word of mouth is still a very powerful driver for attracting new customers – and a positive experience is essential for retaining existing ones. As a result, if you want to encourage small business growth, then you need to make sure you’re considering your business from the customer’s perspective. When planning your year ahead, factor in different ways to enhance customer experience such as the quality of your service and incentives you offer to prospective customers. Just small tweaks to the way you deliver your offering to customers can make all the difference in standing out from your competitors and winning long-term loyalty.

Invest In Your Employees’ Wellbeing And Development

A skilled team with high motivation makes up the core of any successful business, which means it’s in your best interest to ensure that your employees’ well-being is being looked after and they have access to the training they need to perform at their best. A holistic approach to your employees’ physical and mental health goes a long way to helping you foster a healthier and happier workplace environment, which feeds directly into stimulating business growth. If staff are growing in their roles, the business will naturally grow as a progression.

You should also be mindful of how important it is to employ the right staff when trying to grow. While you might be a well-oiled one-man band when starting a small business, taking on new people can change the dynamic. Be cautious in hiring lots of staff at once and only do so if budget allows, and ensure those you do get on board really buy into your mission.

Keep Taking On Board New Information

One of the most important takeaways from figuring out how to grow a small business is to understand how important it is that you are able to take on board and make use of new information. The landscape of business is constantly shifting, so make sure you’re keeping your ear to the ground and keep your business strategies adaptable. There are loads of resources available online, including in our blog, which you can use to do this.

Don’t Be Afraid To Ask For Help

Last but certainly not least, arguably the most important thing you can do when growing a small business is to seek help when you need it. While it can be daunting to receive outside opinions or admit that you are struggling to see as much success as you hope, professional advice is always the best way to get your ducks in a row and put together a sustainable company growth plan.

At Ballard Business Recovery, our business rescue experts are on hand if you are struggling to see growth at the end of the tunnel for your business. Our team can advise on all matters related to running a small business, from addressing any financial pressures you may be facing to implementing more effective structures to promote long-term growth. Don’t hesitate to get in touch with us to prime your business for a rewarding 2025.