STEP THREE: Expanding Your Business You’ve been in business for a while, maybe several years and all the hard work is starting to pay off. Now is the time to think of the direction of the company and establish formal procedures and policies for your business. Listed below are some characteristics of businesses in the expansion phase. Establishing partnerships Planning for expansion Organizational structure Recruiting the right people HR complexity Shift of management control Responsibility to investors Review business insurance requirements Mergers and Acquisitions for growth Networking to expand customer/client base Listed below are some links to help you if you are in this stage of development. Business Opportunities Financing Procurement Registrations Technology Transfer Other Resources