How to Calculate the Growth of a Company and Improve It?

Sneha Hull | April 12, 2022 | 117 views

Growth of a Company

“Growth is never by mere chance; it is the result of forces working together.”

- James Cash Penney, founder, JC Penney

Is the growth of your company healthy? If you are looking for an answer to this, you must measure its growth. Small business growth can be measured by using different types of metrics. However, effective business management demands meticulous planning and strategic judgments based on your organization's past performance. Assessing your company’s growth rate gives you an understanding of the current state of your organization. It also allows you to plan for the future and effectively allocate limited resources to your small business.

In this article, we will discuss how to calculate the growth of a company and the ways to improve it.

What Is Company Growth Rate and Why Is There a Need to Measure It?

A company’s growth rate measures how a particular variable has changed over a specified period. Growth rates are frequently used to refer to the compounded annualized rate of growth of company revenue (CAGR), earnings, dividends, and even macroeconomic variables such as gross domestic product (GDP) and retail sales.

The primary objective of a company's growth rate is to illustrate the company's current state and influence future planning. Rapid growth rates help you keep your success going, whereas slow growth rates highlight areas for improvement.

The growth rate can be calculated on a weekly, monthly, or yearly basis, depending on the industry and the development stage of the business. It may be computed at any business growth stage, provided the firm or investor has the necessary data. It is important to calculate the company’s growth rate to evaluate how profitable and sustainable it can be.

Key Factors for Calculating Growth of a Company 

Calculating the growth rate enables you to have a better understanding of your company's current situation and plan more effectively for the future. The true challenge, however, is how to determine the growth rate of a business.

For instance, if you want to compare overall sales growth from Q3 last year to Q3 this year, you'll need the relevant revenue figures for both the quarters.

The company growth rate formula is:
Total revenue growth = [(current period revenue - previous same period revenue) / previous same period revenue] x 100

Define Your Business Goals and Gather Data Based on the Goals

The first step in measuring your business's progress is setting your objectives. Companies can focus on various growth metrics, including revenue, increased sales, profitability, and an increased client base. Having a realistic approach will help you succeed.

Data must be collected to achieve the goals after the organization has determined it. Collecting more data can help track business growth more accurately. Additional data can also assist in identifying and resolving possible business difficulties.

Evaluate Sales and Earning

As a small business owner, the first things that you will consider are sales and revenue generation. Therefore, a steady increase in money earned from commercial activities is an important indicator to keep an eye on.

The focus should be on boosting earnings after determining the core sales figure. Various factors impact earnings, such as operational costs, financing, assets, and liabilities. Analysts frequently want a continued rise in earnings per share (EPS). A company with a high EPS is considered more profitable — a regular review of sales and profits assists in forecasting the growth rates of the business.

Compute Revenue Growth

Revenue growth is one of the easiest ways to track a business's progress over time. The compounded annual growth rate (CAGR) is used to calculate growth. This computation helps quantify growth over extended periods, such as five, ten, or twenty years. Let’s have a glance at the formula used to calculate the compound annual growth rate.

The formula for CARG is:
FV / PV)1/t – 1 = CARG

However, you need to follow certain steps while calculating the compound annual growth rate:
  • Divide the investment's ultimate value by its original value
  • Increase the results by one divided by the number of years in the investment term
  • Subtract one from the preceding result

Use the trailing twelve-month figure to obtain the most up-to-date results.

Benchmark Your Company Against Competitors

While growth is critical within your organization, comparing growth to your competitors’ helps determine success in your domain. If you build your reputation in the market, you will get more clients and expand your business.

You can obtain competitors’ data through various digital channels such as websites and social media platforms and compare it to your own. In addition, you can get more information from news stories, trade journals, or media coverage of your competition. It gives you valuable insight into your industry's competition and helps you expand your market share.

How to Improve Business Growth?

The growth of a company is the top priority for small businesses. After all, growth and expansion create additional revenue prospects. Enterprises expand as a result of continuously refining and adjusting procedures throughout their operations. The following are a few ways to make your small business more efficient, which leads to a faster growth rate for your business.

Improve your conversion rate: You can increase revenue by improving your conversion rate. Only a small percentage of people who are introduced to your product or service end up buying it.

Create a sales funnel: After creating a classifieds-based sales funnel, you'll be able to identify and target the stages during which the majority of clients decide not to move elsewhere. In addition, by establishing a proper channel, your clients will be able to observe how they are now engaging with your organization, which will make transactions less risky and time-consuming.

Improve customer retention: Having a loyal consumer base helps you expand your business. A retention rate is the percentage of customers that continue to use your product over time and make repeat purchases. A CRM framework can aid you in maintaining control over client relationships.

Conclusion

It is important to measure the growth of a company regularly. Regular calculations help company owners maintain records that provide valuable insight into their business's performance, development, and expansion. Additionally, it ensures they expand at a rate, consistent with their established goals.

FAQ:


How do you calculate company growth?

You can calculate company growth by:
  • Defining the settings and collecting your data
  • Subtract the revenue from the previous period from the income for the current period
  • Divide the difference by the revenue for the preceding quarter

How do you calculate the future growth rate of a company?

Calculating the growth rate can be achieved by dividing the difference between the end and start value under consideration by the start value. Growth rates give insight into a firm's success and may be used to forecast future performance.

What is the formula to calculate growth?

Total revenue growth = [(current period revenue - previous same period revenue) / previous same period revenue] x 100

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GreatNonprofits is a leading technology social enterprise whose mission is to improve nonprofit excellence. We enable donors, volunteers, and clients to provide community feedback in the form of ratings and reviews for 1.8 million nonprofits, free of charge. Nonprofits can be reviewed on our website online at www.greatnonprofits.org or on a number of other sites whose functionality we power, including GuideStar, CharityNavigator, GlobalGiving, Pittsburgh Gives and JustGive.com. We have collected over 150,000 nonprofit stories for over 16,000 organizations.

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Avalara Partners with Xero to Automate Sales Tax for Small Businesses

Avalara | August 25, 2022

Avalara, Inc, a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced a new partnership with Xero, the global small business platform, that will provide accountants, bookkeepers, and small businesses with a new sales tax automation solution. The new partnership will bring advanced sales tax workflows and management directly into the Xero platform, enabling advisors and business owners to automate sales tax calculations, reporting, and filing.With more than 13,000 sales and use tax jurisdictions in the U.S., managing and reporting sales tax can be a complex and resource-intensive burden for small business owners. Recent research found that small businesses with up to five employees spend an average of 163 hours or $17,672 each month on sales tax compliance. The partnership will allow Avalara and Xero to build an integration solution that automates the sales tax compliance journey from within the Xero platform, which allows accountants and small businesses to more easily manage sales tax calculation and reporting. Avalara’s expansive tax content database and sales tax calculation engine improves the accuracy and streamlines the management of ever-changing taxability rules and rates. Meanwhile, Xero provides the ability to apply the correct tax treatment to invoices and simple, state-based reporting. "We know people don’t start their small business to be buried in tricky admin. Our new partnership with the experts at Avalara, we can automate compliance work and give small businesses and their advisors a simple, efficient, and beautiful experience to meet their tax obligations so they can focus on growing their business, Anna Curzon, chief product officer at Xero. Looking forward, accountants and businesses will benefit from additional sales tax functionality from across Avalara's suite of products, including e-filing options and more detailed reporting tools. “Sales tax continues to change and become more complex, especially for small businesses. We want to make it as easy as possible for these businesses to have access to automated solutions so they can focus on running their business,” said Sanjay Parthasarathy, chief product officer at Avalara. “By partnering with Xero, we are able to inject Avalara’s tax compliance expertise and technology directly into a leading global accounting platform for a convenient way for businesses to manage sales tax. This partnership will also support accountants by automating the management of changing tax rates and rules, and providing validated data to process returns for clients.” This partnership with Xero illustrates Avalara’s commitment to embedding compliance into experiences for our partners. Earlier this year, Avalara announced new tools and APIs to expand opportunities for partners to build compliance integrations and functions. The partnership was announced at Xerocon New Orleans, where Avalara and Xero provided attendees the first opportunity to sign up for closed-beta trials, which will be available next year to a limited number of users. To keep up to date with the latest partnership developments, please click here. About Avalara Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce, and other financial management system providers, Avalara delivers cloud-based compliance solutions for various transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Brazil, Europe, and India.

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