Running and expanding/developing a business

• An entrepreneur needs to keep the business up to date with things such as law, businesses sales, marketing techniques and accounting
• market research is often carried out to check for changes which could affect their businesses such as new competitors
• aims and objectives need to be carried out as the businesses grows this can be used to monitor performance and make decisions to ensure that the businesses is on the right track
• as businesses grow its harder for a entrepreneur to manage everything meaning that they may need to hire managers
• Running a businesses-

  •completing the finances

  •buying stock

  •listing stock for sale

  •contacting customers

  •chasing payment
• ways in which a business can expand- •Open in another location

  •Offer the business as a franchise or business opportunity

  •License the product

  •Diversify

  Target other markets

  •Merge with or acquire another business