Business development support

“In my experience, in Africa there is space for innovation. And you don’t have to look far, especially when you are at a disadvantage. Look around you. You might be experiencing a problem that is a need in the community.” – Sizwe Nzima, founder of Iyeza Express in Khayelitsha, South Africa.

 

Understanding the different stages of the business lifecycle and the challenges you’ll face at each stage will help you prepare for the opportunities and obstacles that your business will need to conquer in order to succeed.

A business will go through the stages of a business lifecycle similar to a tree’s lifecycle. As a seedling that sprouts and matures, the tree will require different amounts of resources through the stages of its lifecycle. Understanding the different stages of the business lifecycle will help you prepare for the obstacles that your business will need to conquer in order to succeed.

During the growth of a small business, a company will go through the stages of the business life cycle and encounter different challenges that require different financing sources. For example, the business will require a different strategy when it comes to market penetration, business development, and retaining market share. As the business matures, operations and priorities will change therefore requiring business financing to also change as well.

Content source: Sheen Chen 

 


Support for the 5 stages of business growth

1. Ideation Stage

Business Ideation is the creative process of generating an idea and then developing, communicating and implementing it. The Ideation process ...
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2. Start up stage

You’ve decided that your business idea is worth pursuing and have now made your business entity legal. In this stage, ...
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3. Early Stage

Your business has endured the initial stages of the business lifecycle and is currently in its growth or survival stage ...
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4. Expansion Stage

Your business has been doing well and has a solid name in the industry you’re in. You have now reached ...
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5. Maturity & Growth Stage

After a successful expansion, your business is on top of its industry and has matured. At the final stage of ...
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