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Why Do Firms Grow?
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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Why Do Firms Grow? Why might small firms not grow? Growth is generally achieved by small firms by making more of its existing products, or by developing more products. Hence, a common obstacle that many small firms face is that they do not have the finance to expand through invention, or developing a new product. Finance is necessary to pay researchers or inventors, to pay for materials and then once the product has been developed, to market it. Another way of achieving growth is be merging with another firm, which is known as external growth. A merger is where two or more firms combine to form a larger, new company. It is very unlikely that a small firm would have enough finance to merge with another company, so this method of growth is more common with larger firms. Small firms, if recently established may the lack experience and expertise to help it grow. Many...
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