The Small Business Forum
Expansion or Rapid Growth
- Expansion is a period of rapid growth.
- While the growth stage aims at a profit similar to the average level in the industry, the objective at rapid expansion is super profit, profit above the industry average.
- The rapid growth and expansion may be by:
- establishing branches.
- franchising or licensing.
- diversification, with new products.
- merging with or acquiring another business.
- The choice to go into expansion may be due to the following:
- Unmet market demand.
- Limited level or use of technology.
- Limited range or poor quality of products.
- Lack of access to institutional finance.
Comments, Questions and Suggestions welcome.
drkibuka@thesmallbusinessforum.co.ke
+254-729524219
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