Commentary

7 The changing challenges during the lifetime of a business

BUSINESSES vol 4(2) start-up, sale and purchase
| Commentary

7 The changing challenges during the lifetime of a business

| Commentary

2: AVOIDING THE PITFALLS — DANGERS AND SOLUTIONS

7 The changing challenges during the lifetime of a business

Although every business is unique, most tend to follow the same general pattern over their lifetime. This pattern is sometimes visualised as bell-shaped, as the business moves from initial concept to development, then from stability to expansion and on, in some cases, to decline and closedown or sale. What happens at each stage heavily influences what happens at the next and the hazards facing the business also vary depending upon the stage which the business has reached. It is therefore worth considering

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