Question

mike is the owner of a doggy daycare and grooming business. the business is economically healthy, and he is looking for ways to finance future growth. in which business life cycle state is mike?

Answer 1

Mike's doggy daycare and grooming business is in the growth or survival stage of the business life cycle, as it is healthy economically and he is looking for ways to finance its expansion.

Step-by-step explanation:

Mike is the owner of a doggy daycare and grooming business that is described as economically healthy and is seeking ways to finance future growth. The stage of the business life cycle that Mike's business is likely in is called the growth or survival stage. This is the phase following the startup stage where the business has established its presence, has a steady influx of customers, and is looking at opportunities for expansion. Mike is exploring financing options to facilitate this growth, which is characteristic of a business looking to scale operations and increase market share.

Answer 2

Mike's doggy daycare and grooming business, which is economically healthy and looking for financing options for growth, is in the growth stage of the business life cycle.

Step-by-step explanation:

Mike is the owner of a doggy daycare and grooming business that is economically healthy, and he is exploring options to finance future growth. This scenario places Mike's business in the growth stage of the business life cycle. The growth stage is characterized by increasing sales, the expansion of products or services, and a focus on scaling the business for further development. As Mike considers financing future growth, he might look into options such as acquiring a business loan, finding investors, or reinvesting profits back into the business. The goal during this stage is to solidify the company's market position and ensure long-term sustainability.