How to grow your business in Nottingham

How to grow your business in Nottingham
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    Whether you’re a sole trader just starting out, a small business striving for profitable growth or a larger limited company looking to tap into new markets, growing a business in Nottingham can be challenging. But, with proper support and understanding of Nottingham’s economy, you can meet your goals and see significant business growth.

    When looking to grow a business in Nottingham, there are many ways to go about doing it. You can implement your own personal growth strategies, such as marketing, networking or collaborating with other companies, or you can make the most of local business support services.

    At Archimedia Accounts, we are local tax and accounting experts in Nottingham, here to help fuel your business growth. With over 30 years of experience assisting Nottingham businesses in reaching their financial goals, we are best placed to help you succeed. We offer various accounting services with a key focus on tax planning so you can maximise your profitable income. However, we also provide in-depth business support to enhance your business processes and drive growth.

    In this blog, we explore exactly how you can reach new heights within your Nottingham-based business, looking at what you can do with company resources and how local services may be able to assist. Keep reading for more information, or contact our team for a friendly chat and personal business advice.

    What business support is available in Nottingham?

    Nottingham, located in the East Midlands, is a vibrant city with a diverse economy. With its rich history in the lace trade and its many famous inventions, such as HP sauce and Ibuprofen, it’s no wonder you want to grow a business here.

    Luckily, you can benefit from an array of business support, from free Government-backed initiatives to industry-specific resources.

    D2N2 Growth Hub

    If you are looking for a personal hub for business support, the D2N2 Growth Hub offers a wide range of services. You can receive business advice from experienced professionals, access funding opportunities, and take part in training and development programmes or networking events.

    Business and IP Centre

    For more technical support, The Business and IP Centre can provide all the information you need about intellectual property, such as trademarking your idea and protecting you from copyright issues. The Business and IP Centre is a Nottingham-based business support service led by the British Library. They offer an array of support for small businesses and start-ups in Nottingham.

    6 ways to scale your business in Nottingham

    Let’s take a look at some of the top ways to grow your Nottingham-based business.

    1) Get professional accounting and business advice

    With the right level of support from your local Nottingham accountant, you can set the foundations for a financially secure business.

    As local Nottingham accountants, we have a strong understanding of the area and all that Nottingham has to offer for enthusiastic entrepreneurs like yourself. We’ll be able to utilise local tax-saving strategies and provide regular tax planning meetings that are tailored around the local economy.

    Not only can we help you with your business’s tax and accounting needs, but we can also provide expert business planning advice. We’ll help you tap into new ideas and create a future-proof growth plan for your finances.

    2) Utilise local business support services

    Nottingham offers many useful resources and local support services for entrepreneurs and business owners, including the previously mentioned D2N2 Growth Hub and the Business and IP Centre.

    Alongside these valuable services, Nottingham City Council are helping business owners gain free support and advice through its Economic Development service. You can access various digital resources and connections to local support organisations in the Nottingham area.

    Many of these services are free and accessible to all, so why not make the most of your local business support services in Nottingham?

    3) Make the most of networking events

    Expanding your business network is an excellent way to grow your business and meet like-minded people. You’ll also practice a few social skills along the way, such as sales techniques and professional communication.

    Find local business events in your area, follow business support pages on social media or try spending the day in a co-working space. Working alongside like-minded people gives you the opportunity to show off your business and bounce ideas off of others. You’ll be surprised at the number of exciting companies and people you meet.

    Networking is not only good for building strong connections and finding potential clients, but it also opens the doors to local business collaborations and partnerships.

    4) Partner up with local businesses in Nottingham

    Many successful companies often partake in collaboration projects with other brands and businesses as it helps them reach new customers. Why not take the same concept and apply it to your own business?

    Collaborating with local companies who share similar interests and target audiences can be beneficial for both parties. Whether you choose to do a joint marketing campaign, co-host an event or create a new product, partnering with businesses in your area can help you access a wider pool of customers.

    5) Invest in marketing strategies

    There are endless opportunities for marketing your local Nottingham business, from the more traditional forms of marketing, like handing out leaflets to local residents, to a more modern approach, such as growing an online presence.

    In today’s digital age, a solid online presence can significantly impact the success of a local business, helping fuel growth and profitability. You can make the most of digital technology and often do a lot of your own marketing for free. Use social media and local SEO to really grow your brand and engage with local audiences. Plus, if you do pay for marketing materials, then you may be able to claim them as a business expense – so it’s a win-win.

    6) Diversify your profitable income

    While we believe that business growth isn’t just about making more money, we are accountants, so it is our job to help businesses increase their profits. Tapping into new business areas or generating a new source of income can help you secure your finances now and in the future.

    Have you ever considered building a property portfolio as part of your business?

    Growing a property portfolio in Nottingham can be a strategic business growth opportunity. You’ll benefit from additional income through rentals and long-term financial stability.

    If this is a business move you are interested in, then the team at At Archimedia Accounts are more than happy to help. We have many years of experience growing our own business and property portfolio in Nottingham, so we understand how diversifying your income can be a successful move for your business.

    Accelerate your business growth with Archimedia today

    At Archimedia Accounts, we are committed to helping your business thrive. As a family-run accountancy firm with over 30 years of experience, we understand the unique challenges of growing a business in Nottingham.

    Our services focus on your strategic business growth by providing expert accounting advice and valuable business support. Our innovative team constantly seeks new ways to increase your company’s wealth while saving you time and money.

    Contact us today to arrange a free consultation! Our office is based just outside of Nottingham city centre, so we’ll be on hand to support your business in person or online, whatever you need.

    Chris Demetriou

    Chris Demetriou

    Chris is Head of Business Advisory​ at Archimedia Accounts and is a specialist in tax. For more advice book a FREE consultation:

    Contact Chris

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