January 2015
Beginner
480 pages
31h 42m
English
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15.1 The Business Life Cycle
Every firm has a business life cycle. There are a number of classifications of the business life cycle. Here we use the five active phases of start-up, growth, maturity, decline, and closing, as Figure 15.1 shows. Each phase brings with it unique problems and opportunities related to managing and financing the business. In this chapter, we look particularly at funding sources that businesses typically use at the first three stages.
The birth of a firm comes about when a business idea reaches the implementation stage. The idea could come from a single individual or a group, but either way, the business starts when actions begin the process of producing a product or service to sell to customers. Once the business is ...
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