Young Companies in the Economy
It may be a cliché that the entrepreneurs provide the energy for economic growth, but it is also true that vibrant economies have a large number of young, idea businesses, striving to get a foothold in markets. This section begins by looking at where young companies fall in the business life cycle and the role they play in the overall economy. We will follow up by looking at some characteristics that young companies tend to share.
A Life Cycle View of Young Companies
If every business starts with an idea, young companies can range the spectrum (see Figure 9.1). Some are unformed, at least in a commercial sense. The owner of the business has an idea that he or she thinks can fill an unfilled need among consumers. ...
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