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It's not uncommon for entrepreneurs to use the terms “growth” and “scale” interchangeably when talking about adding revenue to their small business. The terms do have a similar meaning with a critical difference.
Growing a business means that a business owner is adding revenue by adding more resources and higher costs to their operation. This could mean bringing on new clients and customers by adding a new location or building, purchasing new equipment or hiring more employees to meet the needs of those new clients.
By Northwest BankIt's not uncommon for entrepreneurs to use the terms “growth” and “scale” interchangeably when talking about adding revenue to their small business. The terms do have a similar meaning with a critical difference.
Growing a business means that a business owner is adding revenue by adding more resources and higher costs to their operation. This could mean bringing on new clients and customers by adding a new location or building, purchasing new equipment or hiring more employees to meet the needs of those new clients.