With Christmas and New Year now well and truly over, you can set your sights on ensuring your business grows and improves during 2009.

Whether you are seeking larger premises for your business, want to branch out into a franchise, or are simply looking to grow your business or take on new staff, you will need to manage these changes successfully. You should also be aware of what grants, assistance and support is available for you in growing your business.

business.gov.au's newly updated Growing your business checklist can show you what you can do to grow or improve your business. The online checklist covers the fundamental issues you may need to consider when you grow and improve your business. It contains compliance and regulatory issues, ideas for new business opportunities, and contact details for agencies that can give you advice along the way.

Updating your structure and business plan

Your business structure is often the first thing to change when your business grows, particularly if you start out on your own and then decide to take on a partner or even want to register your business as a company.

Your existing business plan may have got you this far, but future planning is crucial to the ongoing growth of your business. As your business expands, you should regularly review and update your business plan. The checklist provides you with a number of contacts and tools you can use to update your business structure and business plan.

Financial management and legal considerations Good financial management is essential for the expansion of your business. Getting your finances in order means your business can operate more efficiently and puts you in a better position when seeking funding for growth.

As with finance, your legal obligations will change as your business grows. On the plus side, your annual turnover will be higher, but it could mean you need to register for GST. If you expand into different areas, such as providing new products and services in your business, you may need to gain additional licences and permits.

Grants and financial assistance to expand your business

Did you know that you can access grants and other funding from federal, state and territory governments, and in some cases from local councils?

You can gain financial assistance for a range of business activities such as expanding your business, research and development, innovation and exporting. Check out the Growing your business checklist for more information.