Expansionary Processes of the Small Business: A Life Cycle Profile

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Management Decision

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Document Information:
Title:	Expansionary Processes of the Small Business: A Life Cycle Profile
Author(s):	Marilyn M. Helms, (Associate Professor of Management at the School of Business Administration, the University of Tennessee at Chattanooga, USA,), Troy W. Renfrow, (Consultant in Chattanooga, USA.)
Citation:	Marilyn M. Helms, Troy W. Renfrow, (1994) "Expansionary Processes of the Small Business: A Life Cycle Profile", Management Decision, Vol. 32 Iss: 9, pp.43 - 45
Keywords:	Business development, Growth, Lifecycle, Small firms, Success
Article type:	Research paper
DOI:	10.1108/00251749410071621 (Permanent URL)
Publisher:	MCB UP Ltd
Abstract:	Based on a survey of small businesses, confirms the life cycle model of growth and progression. Knowledge of the life cycle stages can assist management in anticipating and capitalizing on changes which every small business must face. The majority of small business respondents were in the expansion/growth stage of development. The study also confirmed the major components found within this development stage: ownership, activity of sales; market share; capital assets/equipment; and financing. Advice from outside sources, in particular from accountants and/or CPAs, was also found to support an increase in small business sales.