As the world increasingly seeks sustainable solutions to combat climate change and reduce dependence on fossil fuels, geothermal energy has emerged as a promising alternative. Harnessing the Earth's internal heat offers a reliable and environmentally friendly source of power that can be utilized for electricity generation, heating, and cooling systems. For entrepreneurs and innovators looking to enter the renewable energy sector, starting a geothermal energy business presents a unique opportunity to contribute to a cleaner future while tapping into a growing market. This article will guide you through the essential steps to establish your own geothermal energy venture, from understanding the technology and assessing the market to navigating regulatory landscapes and securing funding. Whether you are an experienced business professional or a passionate advocate for renewable energy, this comprehensive guide will equip you with the knowledge and tools needed to embark on your geothermal energy journey.

The global market for geothermal energy has been experiencing significant growth, driven by the increasing demand for renewable energy sources and the need to reduce greenhouse gas emissions. As of 2022, the geothermal energy market was valued at approximately $4 billion and is projected to expand at a compound annual growth rate (CAGR) of around 5% through the next decade. This growth can be attributed to several factors, including advancements in geothermal technology, government incentives for renewable energy, and a rising awareness of the environmental benefits associated with geothermal energy. Geothermal energy is harnessed from the Earth's internal heat, making it a reliable and sustainable energy source. The primary applications of geothermal energy include electricity generation, direct heating, and district heating systems. The electricity generation segment is expected to hold a significant share of the market, as more countries invest in geothermal power plants to diversify their energy portfolios and enhance energy security. Regions such as North America, Europe, and Asia-Pacific are leading the way in geothermal project development, with countries like the United States, Indonesia, and the Philippines being notable players in the industry. Moreover, the increasing focus on energy independence and sustainability is prompting both developed and developing nations to explore geothermal resources. As technology continues to improve, the potential for enhanced geothermal systems (EGS) and the utilization of geothermal heat pumps in residential and commercial applications are expected to further stimulate market growth. Investors and entrepreneurs looking to enter the geothermal energy sector will find a landscape that is ripe with opportunities, particularly in regions with untapped geothermal resources. As governments continue to support the transition to renewable energy, the geothermal market is poised for robust expansion, making it an attractive option for new businesses. Understanding the market dynamics, regulatory frameworks, and technological advancements will be crucial for those looking to establish a successful geothermal energy enterprise.

Identifying the target market is crucial for any geothermal energy business, as it helps focus marketing efforts, product development, and service offerings to meet the specific needs of potential clients. The target market for geothermal energy businesses can be segmented into several key categories:
1. Residential Customers: Homeowners seeking sustainable and cost-effective heating and cooling solutions represent a significant market. These customers are typically interested in reducing their energy bills and minimizing their carbon footprint. Geothermal heat pumps are an attractive option for homeowners looking to enhance their property’s energy efficiency and value.

2. Commercial and Industrial Sectors: Businesses, including offices, retail spaces, and manufacturing facilities, are increasingly looking for ways to lower energy costs and meet sustainability goals. Targeting commercial clients involves demonstrating the long-term savings and environmental benefits of geothermal systems, as well as the potential for tax incentives and rebates.
3. Government and Public Sector: Local, state, and federal government entities are often key players in the adoption of renewable energy technologies. This segment includes schools, hospitals, and municipal buildings that are under pressure to adopt greener solutions. Proposals to these organizations can emphasize the reliability and efficiency of geothermal systems, along with potential funding opportunities.
4. Developers and Builders: Real estate developers and builders are essential allies in promoting geothermal energy, especially in new construction projects. By integrating geothermal systems into new developments, builders can market properties as energy-efficient and environmentally friendly, appealing to eco-conscious buyers.
5. Agricultural Sector: Farmers and agricultural businesses looking to improve energy efficiency for heating greenhouses, drying crops, or aquaculture operations can benefit greatly from geothermal solutions. This market can be approached by highlighting the ability of geothermal energy to reduce operational costs and enhance productivity.
6. Energy Utilities and Service Providers: Partnering with energy utility companies can provide opportunities for geothermal energy businesses to offer services or products that enhance the utility's renewable energy portfolio. Utilities are increasingly looking to diversify their energy sources and meet regulatory requirements for clean energy.
7. Educational Institutions and Research Facilities: Schools and universities, particularly those with environmental programs, may be interested in geothermal energy systems for their campuses. These institutions can serve as models for sustainability and often have the funding to invest in renewable technologies. By carefully analyzing these segments and understanding their unique needs and concerns, geothermal energy businesses can tailor their marketing strategies and service offerings to effectively reach and engage their target audience. This targeted approach not only enhances customer relationships but also positions the business as a leader in the growing renewable energy market.

When considering the establishment of a geothermal energy business, understanding the various business models is crucial for success. The choice of model will depend on factors such as the target market, geographical location, regulatory environment, and available resources. Here are some common business models in the geothermal energy sector:
1. Direct Use Applications: This model involves harnessing geothermal heat directly for various applications such as district heating, greenhouse heating, aquaculture, and industrial processes. Businesses can partner with local industries or municipalities to provide heating solutions, taking advantage of the lower costs and sustainability of geothermal energy. This model typically requires lower upfront investment compared to electricity generation.

2. Geothermal Power Generation: Companies can develop geothermal power plants to generate electricity. This model may involve large-scale investments and extensive regulatory compliance. Power generation can be categorized into different types, such as flash steam plants, binary cycle plants, and dry steam plants, each suited for varying temperatures and resource availability. Businesses in this model often engage in Power Purchase Agreements (PPAs) with utility companies to sell the generated electricity.
3. Geothermal Heat Pumps: Another viable business model involves the installation and maintenance of geothermal heat pump systems for residential and commercial buildings. These systems utilize the stable temperature of the earth to provide efficient heating and cooling. Companies can offer comprehensive services, including system design, installation, and ongoing maintenance, capitalizing on the rising demand for energy-efficient solutions.
4. Geothermal Exploration and Development: This model focuses on the exploration of geothermal resources and the development of potential sites for energy generation or direct use applications. Companies can engage in geological surveys, drilling, and resource assessment to identify viable geothermal sites. Successful exploration can lead to partnerships with investors or energy companies to develop the resource further.
5. Consulting and Engineering Services: As the geothermal sector grows, there is an increasing demand for expertise in project development, regulatory compliance, and environmental assessments. Businesses can offer consulting services to other companies looking to enter the geothermal market, providing insights into best practices, technology selection, and project management.
6. Public-Private Partnerships (PPPs): Collaborating with government entities can be an effective way to leverage public funding and support for geothermal projects. This model can facilitate access to resources, subsidies, and grants, making it easier to undertake large-scale projects while sharing the risks and benefits with public stakeholders.
7. Research and Development: Investing in R&D can lead to innovative technologies and solutions within the geothermal sector. Companies can focus on enhancing drilling techniques, improving efficiency in geothermal systems, or exploring new applications for geothermal energy. This model may involve collaboration with academic institutions or government research programs. By carefully evaluating these business models and aligning them with market needs and opportunities, aspiring entrepreneurs can carve out a niche in the geothermal energy market and contribute to a sustainable energy future. Each model presents distinct advantages and challenges, so a thorough analysis of local conditions and resources will be essential for determining the most suitable approach.

The competitive landscape for a geothermal energy business is influenced by several key factors, including market demand, regulatory frameworks, technological innovation, and the presence of established players in the industry. Geothermal energy is part of a broader renewable energy market that includes solar, wind, and hydroelectric power. As demand for sustainable energy solutions grows, the geothermal sector is becoming increasingly attractive to new entrants. However, competition is intensifying, with both startups and well-established companies vying for market share. Major players often have the advantages of capital, experience, and existing infrastructure, which can create barriers for newcomers. One of the critical elements shaping the competitive environment is the regulatory landscape. Different regions have varying incentives and regulations for renewable energy, which can significantly impact the feasibility and profitability of geothermal projects. New businesses must navigate these regulations and may compete for government grants, tax incentives, and other forms of support that can bolster their financial position. Technological advancements also play a vital role in the competitive landscape. Innovations in drilling techniques, enhanced geothermal systems (EGS), and improved efficiency of power generation can give companies a significant edge. Businesses that invest in research and development and adopt cutting-edge technologies are better positioned to compete effectively. Moreover, regional factors can influence competition. Areas with high geothermal potential may attract more firms, leading to a saturated market. Conversely, regions with less competition may provide opportunities for new entrants to establish a foothold. Understanding local geology, resource availability, and the existing competitive landscape is crucial for any new geothermal energy business. Partnerships and collaborations can also be a strategic approach to gaining a competitive advantage. Forming alliances with local governments, research institutions, and other stakeholders can help new entrants navigate the complexities of the geothermal sector and enhance their credibility. In summary, entering the geothermal energy market requires a comprehensive understanding of the competitive landscape, including regulatory environments, technological trends, and regional market conditions. New businesses must be prepared to innovate, adapt, and strategically position themselves to succeed in this evolving industry.

When starting a geothermal energy business, it is crucial to navigate the complex landscape of legal and regulatory requirements that govern the development and operation of geothermal resources. These requirements vary significantly based on the location and scale of the project, as well as the specific technologies employed. Here are key considerations to keep in mind:
1. Licensing and Permits: Before any geothermal project can commence, developers must obtain the necessary permits and licenses. This often includes exploration permits, which allow for the assessment of geothermal potential in a specific area, as well as development permits required for drilling and construction. These permits are usually issued by state or national regulatory bodies, and the application process can involve detailed environmental assessments and public consultations.

2. Environmental Regulations: Geothermal energy projects must comply with environmental laws that protect land, water, and wildlife. This may involve conducting Environmental Impact Assessments (EIAs) to evaluate the potential effects of the project and to outline measures to mitigate any negative impacts. Regulations may also address waste management, emissions, and the protection of sensitive ecosystems.
3. Land Use and Rights: Securing the rights to use land for geothermal energy development is a critical step. This may involve negotiating leases with private landowners or obtaining rights from government agencies that manage public lands. Understanding local land use regulations and zoning laws is also essential to ensure that the project is compliant with local planning ordinances.
4. Water Rights: Many geothermal projects require significant amounts of water for cooling and other processes. Developers must understand and secure the necessary water rights, which can be a complex issue depending on local laws and water availability. This often involves obtaining permits for water withdrawal and ensuring compliance with regulations governing water use.
5. Health and Safety Regulations: The operation of geothermal plants is subject to occupational health and safety regulations. Companies must establish safety protocols to protect workers and the public during drilling, construction, and operational phases. Compliance with Occupational Safety and Health Administration (OSHA) standards or equivalent local regulations is mandatory.
6. Grid Connection and Energy Regulations: Once the geothermal energy is generated, connecting to the electrical grid involves navigating additional regulatory requirements. This includes securing interconnection agreements with utility companies and complying with federal and state energy regulations. Depending on the jurisdiction, there may also be renewable energy standards or feed-in tariffs that incentivize the use of geothermal energy.
7. Incentives and Financial Regulations: Various governments offer incentives for renewable energy projects, including tax credits, grants, and loan programs. It is important to research and apply for these incentives, as they can significantly reduce the financial burden of starting a geothermal business. Additionally, understanding the financial regulations surrounding investment and funding is essential for ensuring compliance and securing necessary capital.
8. Long-term Monitoring and Reporting: After the project is operational, ongoing compliance with regulations is essential. This may include regular reporting on environmental impacts, resource management, and operational safety. Some jurisdictions require periodic reviews and renewals of permits, ensuring that the business operates within the legal framework throughout its lifespan. Navigating these legal and regulatory requirements necessitates thorough research and possibly the consultation of legal experts specializing in energy and environmental law. By ensuring compliance from the outset, geothermal energy businesses can avoid costly delays and legal challenges, paving the way for a successful operation.

When starting a geothermal energy business, securing adequate financing is crucial for covering initial costs and supporting ongoing operations. Here are several financing options to consider:
1. Self-Funding: Many entrepreneurs begin by using personal savings or funds from family and friends. This approach allows for complete control over the business without the obligation to repay loans or share equity. However, it also carries significant personal financial risk.

2. Bank Loans: Traditional bank loans can provide substantial funding for startup costs. Entrepreneurs can approach banks for business loans or lines of credit. A solid business plan, good credit history, and collateral may be required to secure favorable terms.
3. Government Grants and Incentives: Various governmental bodies offer grants, tax incentives, and low-interest loans to promote renewable energy initiatives. Research federal, state, and local programs designed to support geothermal projects, as these can significantly reduce startup costs.
4. Venture Capital and Angel Investors: Attracting investors who specialize in renewable energy can provide the necessary capital in exchange for equity in the business. This option is particularly useful for companies with high growth potential, as investors often bring not only funds but also valuable expertise and networks.
5. Crowdfunding: Online crowdfunding platforms allow entrepreneurs to raise money from a large number of people, typically in exchange for early access to products or equity in the company. This can be an effective way to validate the business idea while generating funds.
6. Partnerships: Forming partnerships with established companies in the energy sector can provide both funding and expertise. Joint ventures can help share the financial burden and reduce risks associated with entering a new market.
7. Green Bonds: Issuing green bonds is an option for businesses looking to raise capital specifically for environmentally friendly projects. Investors in green bonds are often motivated by the desire to support sustainable initiatives, making this a viable option for geothermal projects.
8. Energy Efficiency and Renewable Energy Programs: Many utility companies and non-profit organizations offer programs that provide financial assistance for renewable energy projects. These may include subsidies, rebates, or performance-based incentives aimed at encouraging the adoption of geothermal energy. By exploring these financing options, aspiring entrepreneurs can effectively secure the necessary capital to launch their geothermal energy business and contribute to the growing demand for sustainable energy solutions.

When launching a geothermal energy business, effective marketing and sales strategies are crucial for establishing a strong presence in the market and attracting clients. Here are key approaches to consider: Target Market Identification Begin by clearly identifying your target market. This could include residential homeowners looking for sustainable energy solutions, commercial businesses seeking to reduce energy costs, or government entities interested in renewable energy projects. Understanding the specific needs and pain points of each segment will allow you to tailor your messaging and offerings accordingly. Educational Content Marketing Given that geothermal energy may be unfamiliar to many potential customers, creating educational content is essential. Develop informative resources such as blog posts, whitepapers, and videos that explain the benefits of geothermal energy, how it works, and its cost savings over time. Hosting webinars or workshops can also engage your audience directly and position your business as an expert in the field. Digital Marketing and SEO Utilize digital marketing strategies to reach a wider audience. Optimize your website for search engines to ensure that potential customers can easily find you when searching for geothermal solutions. Invest in pay-per-click advertising and social media campaigns to drive traffic to your site. Engaging with audiences on platforms like Facebook, LinkedIn, and Instagram can help build brand awareness and community. Partnerships and Collaborations Establish partnerships with other businesses in related fields, such as construction companies, plumbing services, and energy consultants. Collaborations can expand your reach and provide you with access to new customer bases. Offer referral incentives to partners who successfully connect you with potential clients. Customer Testimonials and Case Studies Leverage the power of social proof by showcasing customer testimonials and case studies. Highlight successful installations and satisfied customers through detailed narratives that illustrate the benefits and savings achieved. These stories can be compelling marketing tools that build trust and credibility with potential clients. Incentives and Financing Options Many customers may be hesitant to invest in geothermal energy due to upfront costs. Offering financing options or highlighting available government incentives and rebates can make your solutions more accessible. Clearly communicate the long-term savings and environmental benefits to help potential clients see the value in their investment. Networking and Industry Events Attend industry conferences, trade shows, and networking events to build relationships with potential clients and partners. Demonstrating your expertise and commitment to the geothermal energy sector at these events can enhance your visibility and credibility. Follow-Up and Relationship Management Implement a robust customer relationship management (CRM) system to track leads, manage customer interactions, and follow up effectively. Personalized outreach can significantly improve conversion rates and foster long-term relationships with clients. Regularly check in with existing customers to encourage referrals and repeat business. By employing a comprehensive marketing and sales strategy, your geothermal energy business can effectively attract and retain customers while promoting the advantages of sustainable energy solutions.

Establishing the operations and logistics for a geothermal energy business involves a multifaceted approach, focusing on site selection, resource assessment, drilling, and infrastructure development, as well as ongoing maintenance and regulatory compliance. Site Selection and Resource Assessment: The first step in operations is identifying suitable geothermal resources. This requires geological surveys and assessments to evaluate the potential energy yield. Utilizing geological maps, existing data, and possibly conducting geophysical studies will help determine the viability of a site. It's essential to engage with local geological experts and possibly partner with research institutions to ensure a thorough assessment. Drilling Operations: Once a site is selected, drilling becomes the next crucial phase. This involves hiring or contracting specialized drilling companies experienced in geothermal operations. The drilling process must be meticulously planned, including the selection of the appropriate drilling techniques and technologies, which can vary based on the depth and characteristics of the geothermal reservoir. Proper equipment and experienced personnel are essential to minimize costs and ensure safety during operations. Infrastructure Development: After successful drilling, the development of infrastructure is necessary to harness and transport geothermal energy. This includes the installation of wellheads, pipelines, and power generation facilities. The logistics of transporting materials and equipment to the site should be carefully planned, taking into account the local geography and access routes. Coordination with construction teams and adherence to timelines will be critical to keep the project on schedule. Energy Conversion and Distribution Systems: Depending on the intended application—whether for electricity generation, direct use, or district heating—appropriate energy conversion systems must be implemented. This could involve setting up geothermal power plants, heat exchangers, or distribution networks. Collaboration with engineers and energy experts can help optimize these systems for efficiency and sustainability. Maintenance and Monitoring: Operational efficiency relies on regular maintenance and monitoring of the geothermal plants and infrastructure. Establishing a routine maintenance schedule and monitoring system can help detect issues early and ensure the longevity of the equipment. Implementing predictive maintenance technologies, such as IoT sensors, can also enhance operational reliability. Regulatory Compliance and Permitting: Navigating the regulatory landscape is a critical operational component. Businesses must secure the necessary permits and licenses from local, state, and federal authorities. This includes environmental assessments and compliance with safety regulations. Maintaining open communication with regulatory bodies can facilitate smoother operations and avoid potential legal issues. Supply Chain Management: Efficient supply chain management is vital for ensuring that all materials, equipment, and services are available when needed. Establishing relationships with suppliers and contractors who specialize in geothermal technology can enhance operational efficiency. Additionally, keeping a close watch on inventory levels and logistical challenges will help mitigate delays in project timelines. Community Engagement and Workforce Development: Finally, fostering good relationships with local communities is an essential aspect of operations. Engaging with local stakeholders, providing education about geothermal energy, and creating job opportunities can garner support for the business. Investing in workforce development by training local employees can also enhance local expertise and ensure that operations run smoothly. By carefully planning and executing these operational and logistical aspects, a geothermal energy business can position itself for sustainable success in the renewable energy market.

When embarking on the journey to establish a geothermal energy business, effective human resources and management strategies are crucial to ensure operational efficiency and foster a productive workplace culture. The following key considerations will guide you in building a competent workforce and managing your organization effectively. Talent Acquisition and Development Identify the specific skill sets required for your geothermal energy business, which may include geologists, engineers, technicians, and project managers. Craft detailed job descriptions that outline the necessary qualifications and responsibilities. Utilize various recruitment channels such as industry job boards, universities, and professional networks to attract top talent. Once the team is in place, invest in ongoing training and development programs to enhance their skills, keep them informed about industry advancements, and promote safety practices that are critical in geothermal operations. Organizational Structure Establish a clear organizational structure that delineates roles and responsibilities within the company. This structure should facilitate communication and collaboration among team members. Define key departments such as research and development, operations, marketing, and finance, ensuring that each area has leadership that aligns with your business goals. A well-defined hierarchy will not only help in managing day-to-day operations but will also enable swift decision-making processes. Workplace Culture and Employee Engagement Fostering a positive workplace culture is essential for retaining talent and ensuring high levels of employee engagement. Promote values such as teamwork, innovation, and sustainability, which resonate with the mission of a geothermal energy business. Encourage open communication and feedback, creating an environment where employees feel valued and empowered to contribute ideas. Consider implementing employee recognition programs to celebrate achievements and milestones, which can enhance morale and motivation. Compliance and Safety Standards Given the technical nature of the geothermal energy sector, adhering to industry regulations and safety standards is paramount. Develop comprehensive policies that comply with local, state, and federal regulations concerning environmental impact and workplace safety. Regularly train employees on these standards and conduct safety drills to prepare for potential emergencies. Establish a reporting system for safety incidents and near misses, fostering a culture of transparency and continuous improvement. Performance Management Implement a robust performance management system that includes setting clear objectives, regular performance evaluations, and constructive feedback mechanisms. By aligning individual goals with the overall business strategy, you can ensure that every employee understands their contribution to the company’s success. This system should also incorporate opportunities for career advancement, encouraging employees to develop their skills and progress within the organization. Diversity and Inclusion Emphasize the importance of diversity and inclusion in your hiring practices and workplace policies. A diverse workforce brings a variety of perspectives and ideas, which can enhance creativity and problem-solving in the development of geothermal projects. Create an inclusive environment where all employees feel respected and valued, regardless of their background. This approach not only strengthens team dynamics but also aligns with the sustainable ethos of the geothermal energy sector. By focusing on these human resources and management strategies, you can build a strong foundation for your geothermal energy business, positioning it for success in a competitive and evolving industry.

In conclusion, embarking on a geothermal energy business presents a promising opportunity for entrepreneurs looking to invest in sustainable and renewable energy solutions. By thoroughly understanding the technology, conducting comprehensive market research, and navigating the regulatory landscape, you can position your venture for success. Building strong partnerships with stakeholders, investing in research and development, and staying informed about industry trends will further enhance your business's potential. As the global emphasis on reducing carbon emissions and increasing reliance on renewable energy sources continues to grow, now is an opportune time to harness the power of geothermal energy. With careful planning and execution, your geothermal energy business can not only thrive but also contribute to a more sustainable future.

A business plan is a critical tool for businesses and startups for a number of reasons
Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the mark
et.Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
Business plans allow you to position your brand by understanding your company’s role in the marketplace.
Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:Executive Summary
Company Overview
Industry Analysis
Consumer Analysis
Competitor Analysis & Advantages
Marketing Strategies & Plan
Plan of Action
Management Team
The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at info@avvale.co.uk . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

To complete your perfect geothermal energy business plan, fill out the form below and download our geothermal energy business plan template. The template is a word document that can be edited to include information about your geothermal energy business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.