What are the benefits of expansion?

Benefits of expansion include:
  • economies of scale.
  • more power in the market.
  • increased status and reputation will make it easy to launch new products.
  • staff may be rewarded, which will increase motivation.
  • more money.

What is expansion in business?

expansion, in economics, an upward trend in the business cycle, characterized by an increase in production and employment, which in turn causes an increase in the incomes and spending of households and businesses.

Why is future expansion important?

Though it is daunting, expansion is essential for development not just within a business but for the future. It encourages innovation and progress, as well as increases employment opportunities.