Small Business and Business Growth

Owners can have more personal ties with customers

• Small Businesses

• Large Businesses

Can employ more persons

• Small Businesses

• Large Businesses

Can offer more personalized services

• Small Businesses

• Large Businesses

May experience difficulty to obtain capital/financing

• Small Businesses

• Large Businesses

Tend to experience economies of scale

• Small Businesses

• Large Businesses

Physical expansion or opening other outlets

• Internal growth

• External growth

Where two or more companies join to form a new company

• Internal growth

• External growth

Expanding the product line

• Internal growth

• External growth

Two or more businesses pooling their resources to achieve a goal:

• Joint Ventures

• Mergers

• Acquisitions

• Franchising

Sandals hotel and West Indies Cricket Board coming together to promote the Caribbean

• Joint Venture

• Merger

• Acquisition

• Franchising