The growth of the company is a shift from the current state in which the company is located to the new situation that has resulted in successfully implemented activities. The implications of the growth activities carried out affect the value, revenue and expenditure, employment and other indicators of the enterprise. The growth of small and medium-sized enterprises is a complex process that encompasses various steps, decisions and processes. In order for the enterprise to grow, growth goals must first be defined, and then strategies must be selected, which will ensure the realization of the set goals. Two groups of strategies are distinguished, namely internal (organic) growth strategies and strategies of external (inorganic) growth. Organic/internal growth strategies represent growth strategies from the company's own resources. These include: a market penetration strategy (where the company seeks to increase market share with an existing product in the existing market), product development strategies (where the company develops a new product (or improves the existing one) for the existing market), and market development strategies (where the company introduces an existing product to new markets), and diversification strategies (which represents the development of new products in new markets). On the other hand, inorganic/material growth strategies represent strategies in which resources are used outside the company itself and they include horizontal and vertical integration and diversification (related and unrelated). With horizontal integration, there is a merger of companies at the same levels of the value chain, and in vertical integration, the company takes over another company located at different levels of the value chain, in front of or behind. In the case of related diversification, the company enters into an activity that is similar to the previous one, while in the case of unrelated diversification, the company enters into a completely different activity from the existing one. Each of these strategies has its advantages and disadvantages that depend on the current performance of the company, but also on the internal and external environment in which the company is located. The empirical part of the paper presents examples of concrete small and medium-sized enterprises from Croatia that grew using different growth strategies.