Growing your business

Table of contents

Growth planning
Research and marketing
Types of growth
Managing a growing business


Growing a business can mean different things to different people. The Growing Your Business guide is for you if:

  • You feel that you are ready to move past the start-up phase
  • Your business is established and you are looking for ways to grow
  • Your business is growing and you’re looking for information and resources to help you

If you are starting a business in Ontario, read our guide.
Starting a business

Growth planning

You may already know how you want to grow your business. Writing down your growth plan can help you determine how to make it happen. Consider looking at your current business performance and outlining a plan before you start.

Assess your business

You may want to do a business assessment to determine your current situation and prepare you for any changes that may result from your plans to expand.

Read online:
Review your business performance
Considerations before expanding your business

Update your business plan

When you started your business, you may have created a business plan to outline your goals and your strategy for getting your idea off the ground. Once your business is established and growing, you should revisit that plan. Your business plan can help you identify and address potential risk factors before they develop, and guide your growth activities.

Read online:
Planning for business growth  

Research and marketing

Understanding who your customers are, what they need or want, and how to reach them is an essential part of growing a successful business. One way to get more information on your customers is through market research and statistics.

Read online:
Market research and statistics

Secondary market research service

Canada Business Ontario’s free secondary market research service can help you expand your small business by providing information about:

  • Business associations, manufacturers, suppliers and competitors
  • Consumer, business and industry trends
  • Canadian consumer spending statistics and demographic data for market research
  • Sample business plans
  • International trade data

Contact us:
Secondary market research service request

Marketing and advertising

Marketing can help you determine the value of your product or service and communicate that information to customers. Depending on your market and its size, you can consider using flyers, business cards, brochures, newspapers, radio, TV, the phone book or the Internet. Keep in mind, a satisfied customer or a positive referral is often the best form of advertising.

Read online:  
Marketing plan outline
Promoting and advertising your business

When preparing your marketing and/or advertising material, there are regulations to follow. When you promote a product or service, your customers need to have enough information to make informed choices. You can get more information on advertising regulations from the Competition Bureau.

Contact the Competition Bureau:
Misleading advertising and labelling


Canada Business can help you find government financing options for your business. There are programs that apply to businesses across Canada, and others that apply only to businesses in Ontario. Use the Canada Business financing search tool or browse by type of financing.

Search online:
Canada Business: Government grants and financing

Financial analysis

When you want to grow your business, it is important to analyze the business’s financial performance. Financial ratios are one of the many tools you can use to do your financial analysis. Financial ratios are used to measure the relationship between two or more components of financial statements (like a debt-to-asset ratio), and the results are compared to industry standards for businesses of similar size and activity. For more information on financial analysis and financial ratios, refer to the following online resources.

Read online:
Financial analysis using ratios

Use Online:
Business Development Bank of Canada: Ratio calculators

Types of growth

There are many ways to grow a business. Whether you are expanding into new markets, developing a new product line, or moving into new distribution channels, each strategy will present different challenges. To determine which option is best suited to your business needs, read the following guide.

Read online:
Assess your options for growth

Listed below are some of the most common ways that a small business may grow.

E-Business and the internet

Selling online, also known as e-business, can increase your customer base because your customers may be anywhere in the world. Keep in mind that selling to other countries–even over the internet–means that you are exporting and you will need to follow additional regulations. 

Read Online: 
Uses for e-business – Business to Customer


Exporting is one way to grow your business. It requires careful market research and planning to assess the risks and benefits of taking your product or service to new markets. Read our guides to learn about exporting, and how to make sure your business is ready to enter international markets.

Read online: 
Exporting to world markets
Exporting to the United States

Hiring employees

Hiring employees can be an effective way to manage the growth of your business. Before you decide to hire employees, make sure that it is the right decision for your business. 

Read online: 
Employment regulations: Hiring 
Wage subsidies and tax credits for employers

Managing a growing business

Managing a growing business can present new challenges to a business owner. When a business is growing, there may be changes in processes and staffing requirements, as well as decisions about investments and strategies for future expansions.

The following resources can help you find support, learn about managing your business and prepare you for growth challenges.

Managing your business

The success of any business starts by setting goals and managing the ups and downs of daily operations. The following guide will help you determine how you can structure your business, manage production processes and limit risks.

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Day-to-day operations

Business support organizations

The use of business support services can be essential to the success of a small business. Professionals can provide knowledge and expertise to ensure your business is operating efficiently. You can find links to a variety of support organizations, including chambers of commerce, mentoring and training organizations and business consultants through the Canada Business website.

Read online:
Business support organizations

Protect your intellectual property

When your business is growing, you may decide to create a specific logo, brand or unique product. In order to protect your intellectual property, you can patent, trademark, copyright or licence your product or brand. Read the Intellectual Property Guide for more information. 

Read online: 
What is intellectual property?

Legal questions

If you have legal questions, contact a lawyer who deals with business regulations. The Law Society of Upper Canada's Law Society Referral Service may be able to assist you in finding a lawyer or paralegal, based on your needs.

Use online:
Law Society Referral Service

You can also find books, magazines and other relevant print material at business service organizations in your community. To locate a Canada Business Ontario (CBO) community partner, contact us at 1-888-576-4444.