Do you have ambition to be more commercial or even create a new company? Why are organisations looking to become more commercial? There is an increased pressure to do more with less which means that increasing income and trading is becoming a viable way to diversify and become more financially self-sufficient. You can do this in many ways, at all scales and sizes, internally and externally. It’s easy to increase your fees, drum up new business or jump straight into a new delivery model without fully understanding your product or cost base let alone the right legal model. If you start up a new company and simply lift and shift even the most successful service it is likely to fail. If options are not properly explored and implemented to consider fundamental questions about what you want to achieve then you are significantly limiting your success. How do you safely commercialise? The key to this is in the evidence base. You must baseline costs, assets and capabilities and benchmark against others to know your level of current performance. You can then look to explore options including alternative delivery models, governance arrangements and product development. Understanding the wider impact of any changes to the organisation and working through financial models including cash flow and investment costs is imperative, as is working with stakeholders to test their appetite and risk levels. What are the benefits of undertaking a review of commercial opportunities? You can gain a real understanding of the impact of setting up a new company from both a company view and a Local Authority view. Perhaps you want to explore a commercial model, perhaps you already have a spin out company and don’t know what’s next, perhaps you have a company that is failing. Whatever stage you are at we can help you to work through your options.