This original and exciting new text examines the crucial role of innovation and entrepreneurship in achieving growth and ongoing success in the small business sector.

Growth, Chasms and Money

Growth, chasms and money

Chapter Objectives

The aims of this chapter are to assist the reader to:

  • be aware of the concept of the life cycle curve in small business
  • assess the high failure rates among small firms
  • be aware of how cash flow management can influence small firm success
  • review conflicting evidence about SME support service effectiveness
  • understand how management roles change as firms grow
  • examine sources of external funding utilised by small firms.

Business Growth

Life Cycle Curve

Some of the earliest academic research on small firms focused upon the nature of growth and the factors influencing business performance over time (Greiner 1972). There was widespread acceptance of the idea that small firms exhibit a standard organisational life cycle and various models were proposed to describe the stages which firms ...

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