BUSI 4002 W5 A5.docx - Running head THE SMALL BUSINESS LIFE CYCLE The small business life cycle BUSI 4002 Walden University 1 THE SMALL BUSINESS LIFE

BUSI 4002 W5 A5.docx - Running head THE SMALL BUSINESS LIFE...

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Running head: THE SMALL BUSINESS LIFE CYCLE 1 The small business life cycle BUSI 4002. Walden University 02/15/2019
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THE SMALL BUSINESS LIFE CYCLE 2 “Brass Lantern inn” is a small business operating in the hospitality industry. The bed and breakfast facility offers a variety of products ranging from a diverse menu, accommodation, conferencing services among other services. It is located in Massachusetts and can accommodate over seventy clients at a time. It workforce comprises of fifteen employees working in part-time. It is classified as a small business due to its location and the number of people it can accommodate. This paper explores the small business lifecycle, the strategies to implement and the risks involved at every stage. A small business’s lifecycle involves startup, growth, expansion, maturity, and decline. The startup stage consists of developing a business plan and converting the idea into an enterprise. In the case of “Brass Lantern Inn,” it involved sourcing capital, licensing
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