Should You Take Your Small Business National?

A lot of successful small business owners dream of growing and expanding their enterprises. A logical step for some of them is to take on a national presence, offering services and products in each state. If you’re thinking about taking this step, here are a few things you'll need to consider.

How will you service customers interstate?
Whether your business is one that delivers a product or else carries out a service, you will probably need someone on the ground in each state. This may mean an employee or a contractor. If you hire contractors, it’s important to make sure they have the capacity to take on your work, and will be reliable. Even though they are contractors, they will be representing your brand. You should set up regular meetings via Skype or online where you can check on what they're up to and any issues they're having. Setting up the groundwork of how you'll supervise them from afar is of primary importance.

Special permits and licences Each state has its own set of rules and regulations around operating a business. So you really need to do the homework and check that your existing business is allowed to operate in the state. There may well be extra requirements in terms of permits or licences you're not aware of, and you could be breaching state law if you don't have them.

Safeguarding against fraud
If you're using contractors or employees interstate you need to be mindful that they could potentially be defrauding you or your customers, especially if they perceive there’s no supervision. So one of your first plans should be to set up a legal framework, and take steps to safeguard your business from any corrupt activity with a sound plan for oversight. Ideally you should hire a financial expert to review your systems and accounting methods so you can have peace of mind they are secure as possible.

Creating a national presence Depending on the type of business you run, you may not need to set up physical office spaces. National 1300 number and 1800 toll free numbers allow you to take calls from anywhere across Australia, but remain in your original location.

Your website is key to this too. More and more transactions are happening online now rather than in physical storefronts, so make it easy for customers to buy from you or order your service online from anywhere in Australia. You can also choose to customise pages of your website for each state, if appropriate.

Reviewing your company's operations
While it's now easy to create a national presence through digital and other platforms, going national may still mean a radical rethink of how your company operates. You may find you need to take on more staff to cope with the increased workload. You may also need a more sophisticated approach to your finances, including reviewing your payment and invoice cycle now that you will have more contractors and customer accounts. It's definitely worth employing a business accountant in Sydney or elsewhere to structure your cash flow and help create a solid system for the future.

Remember that going from a small business to having a national presence will have many growing pains. It's the business equivalent of going from a canoe to a large ferry. You'll need to rethink a lot of how you operate, and plan ahead. Seek strong financial advice from a professional and you can hopefully watch your business flourish!