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Identify and evaluate the five stages of the business life cycle. Examine the five sources of capital a business can use to begin its operation.

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The Five Stages of the Business Life Cycle

A business life cycle is a series of stages that a business goes through as it grows and develops. Understanding these stages can help entrepreneurs and business owners make informed decisions and plan for the future.

  1. Introduction Stage: This is the initial stage where a new business is launched. Key activities include product development, market research, and securing funding.
  2. Growth Stage: If the product or service gains traction, the business enters a growth stage. Sales increase, and the business expands its operations.

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  1. Maturity Stage: The business reaches a plateau, and sales growth slows down. The focus shifts towards maintaining market share and optimizing operations.
  2. Decline Stage: As market conditions change or new competitors emerge, the business may experience a decline in sales and profits.
  3. Death Stage: If a business fails to adapt to changing market conditions or address internal problems, it may eventually cease operations.

Five Sources of Capital for Starting a Business

  1. Personal Savings: Using personal funds is a common way to finance a new business, especially for small businesses.
  2. Debt Financing: This involves borrowing money from lenders, such as banks or credit unions. Loans can be secured or unsecured.
  3. Equity Financing: Raising capital by selling ownership shares in the company to investors. This can be done through venture capital, angel investors, or initial public offerings (IPOs).
  4. Crowdfunding: This involves raising funds from a large number of people, often through online platforms.
  5. Government Grants and Loans: Government agencies may offer grants or loans to support small businesses, especially those in specific industries or regions.

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