Growth - GCSE Business Definition

Growth refers to the increase in a firm's size, output, or market share over time. It can be measured through indicators, such as higher sales revenue, rising production levels, expansion into new markets, or an increase in the number of employees. Business growth enhances a company's profitability, improves its competitive position in the market, and provides more opportunities for reinvestment and development. GCSE Business students need to understand that growth strategies include diversification, mergers, acquisitions, or scaling up existing operations, all of which aim to enhance the business's performance and sustainability.