explain potential for growth internally and externally
Did you have a particular company in mind?
no.the type of business is a sole proprietor
Sole proprietor of what kind of business? Where? What do you know about this business?
i want to get an explanation for potential for growth internally and externally in the sole proprietor business
The potential for growth depends upon the business and location.
Restaurants in our area come and go so fast that most don't make it.
But a growth industry in our area might be services (laundry, shopping, chauffering, cooking, cleaning, etc.) for disabled or elderly people.
well the business is a grocery and variety store
In the United States, I'd say the business has very little growth potential. Large chains, such as WalMart offer customers lower prices and have doomed the small single-proprietor grocery and variety stores.
However, in a small, undeveloped country, it might have a good internal and external growth. You'll need to analyze your customer base. How many people live close enough to conveniently patronize this kind of store? Can you stock the merchandise they need at reasonable prices? How can you expand your customer base?