The Five Stages of Small Business Growth

Small Business

These are the five stages of small business growth.

Existence: Setting up and beginning to run the business by spreading the news of the business.

Survival: The business has shown that it is a workable business entity and has enough customers with products that can satisfy them sufficiently.

Success: Deciding whether to exploit the company’s accomplishments and expand or keep the company stable and profitable, offering a base for alternative owner activities.

Take-off: How to grow and finance that growth.

Resource Maturity: Consolidate the financial gains brought on by growth and maintain the advantages of small size, including the entrepreneurial spirit and flexibility of response.