Many businesses choose to grow through diversifying.
On the surface, diversification can look odd. Why would a business move into something new rather than concentrating on its core business?
Most diversification is centred on risk reduction: riffing on the old saying, diversification is all about not having all your eggs in one basket. For seasonal businesses, diversification can be a mechanism to smooth out earnings across a financial year.
Other businesses diversify to capitalise on emerging trends and opportunities or to stay ahead of their competitors. Diversification may also be part of a wider horizontal or vertical integration strategy.
We work with businesses at all stages of their diversification journey from the moment diversification is first thought about to the opening of the new business stream.
We’ve particular experience in working with rural businesses to help them diversify including rural tourism businesses, farms and estates. As part of our social enterprise experience, we’ve worked with organisations to identify diversification opportunities.
To talk diversification, call Jo: 077 333 94 641 or email jo@gapcomm.co.uk