Research on at least 2 similar enterprises as those who are planning to embark in and write a reaction paper about the challenges and success faced in the business?

Answer 1

Small businesses can expand their operations by pursuing any number of avenues. The most commonplace methods by which small companies increase their business are incremental in character, i.e., increasing product inventory or services rendered without making wholesale changes to facilities or other operational components. But usually, after some period of time, businesses that have the capacity and desire to grow will find that other options should be studied. Common routes of small business expansion include:

• Growth through acquisition of another existing business (almost always smaller in size)
• Offering franchise ownership to other entrepreneurs
• Licensing of intellectual property to third parties
• Establishment of business agreements with distributorships and/or dealerships
• Pursuing new marketing routes (such as catalogs)
• Joining industry cooperatives to achieve savings in certain common areas of operation, including advertising and purchasing
• public stock offerings
• Employee stock ownership plans