In the __________ stage of the life cycle of entrepreneurial firms,the entrepreneur struggles to get the new venture established and to survive long enough to test the viability of the underlying business model in the marketplace.

Question

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In the birth stage of the life cycle of entrepreneurial firms, the entrepreneur struggles to get the new venture established and to survive long enough to test the viability of the underlying business model in the marketplace. This is the most crucial phase as the entrepreneur must overcome the initial barriers of establishing the business such as financing, acquiring customers, building suppliers and dealing with regulations. Only after this phase is overcome, the business can move into the next stage of the life cycle.

In the __________ Stage of the Life Cycle of Entrepreneurial