Which phase follows start-up in the life cycle of a business?

• A. Maturity
• B. Growth
• C. Decline
• D. Innovation

Answer: (B)

The phase that follows start-up in the life cycle of a business is the growth phase. During this phase, a business begins to expand and scale its operations, often experiencing an increase in sales, market share, and customer base. This growth is typically driven by factors such as greater brand recognition, effective marketing strategies, and improved operational processes.

In the growth phase, businesses often see their revenue increasing as they refine their product or service offerings and tap into new markets. They may invest in innovation, expand their workforce, and enhance production capabilities to meet the rising demand. This phase is crucial for establishing a solid foundation for long-term success and sustainability, allowing businesses to transition from being a start-up to a more established player in the market.

Understanding this phase is key for entrepreneurs and business leaders as it establishes the trajectory toward greater profitability and market presence.