The economy is clearly moving into a recovery, as can be seen by confidence of CEO’s and small business owners.
The time for entrepreneurs to start planning for this coming expansion is now. Too many wait until the challenges of growth and expansion begin to show up in various symptoms in their businesses. It is not too soon to begin to update financial forecasts, staffing plans, exit plans, and financing plans. Entrepreneurs should begin to share these plans with their bankers and investors to begin to lay the ground work for any future capital needs. It may not be time for the “ask” quite yet, but communication about such plans can make raising capital somewhat easier when the time actually comes.