FACTORS THAT ENCOURAGE THE GROWTH OF A BUSINESS
1. EMERGENCE OF SPECIALIZATION: Specialization has brought about inter-dependence. People now depend on one another while they do produce what they have In comparative advantage and these have led to mass production.
2. DEVELOPMENT OF MEANS OF COMMUNICATION: The development of modern telecommunication as eased and hastened contact with people of different countries.
3. DEVELOPMENT OF FINANCIAL INSTITUTION: Financial institution have developed their service rapidly over the years. They provide quick and efficient means of payment in foreign trade as well as making available credits for commercial activities.
4. DEVELOPMENT OF WAREHOUSE: Development of warehouse has enabled goods to be produced and kept ahead of demand. This help in stabilizing price and provide protection from damage.
5. ROLE OF ADVERTISING: Advertising has in fact facilitated commerce, it has help to create great awareness for many and otherwise unknown goods, this helps to create and maintain damage for such goods.