Business Growth Types
There are four main types of business growth: organic, strategic, partnership/merger, and internal.
- Organic growth is the most basic type of business growth. It occurs when a business expands its operations through its own efforts, such as increasing sales, opening new locations, or launching new products or services.
- Strategic growth is a more targeted approach to business growth. It involves using specific strategies to expand into new markets, attract new customers, or develop new products or services.
- Partnership/merger is a type of growth that occurs when two or more businesses join forces. This can be done through a merger, acquisition, or joint venture.
- Internal growth is a type of growth that occurs within a business’s existing operations. This can involve increasing efficiency, improving productivity, or reducing costs.
