🔄 Business Cycle and Growth
An entrepreneur or a group of individuals come up with a business idea and start a venture. The business is successful in atrracting customers and gains foothold in the market.
- The business then grows through increased custom - Manufacturing has to be scaled. Word of mouth leads to increased custom.
- The business continues to grow locally/nationally - They may need to create satellite units to save on logistics costs or recap benefit of local savings.
- If the products are suitable to be sold internationally, the business grows outside the country
- Logistics partners to assist with shipping (internationally)
- The bsiness goes global and international sites are created in different countries/regions.
-Some local customisation of the product attracts more localised customers.
LOCAL customisation
Change of colours or specifications to make it better suit the city/county