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Small and medium Business Enterprise Assignment

   

Added on  2021-01-01

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BUSINESS OPPORTUNITIES PROJECTINTRODUCTIONBusiness opportunity refers to packaged businessinvestment that enables an individual to begin a business.The report will highlight the study of market sector andmarket opportunities of a small and medium enterprise(SME) or firm The report will also highlight the variousfactors affecting the business of an SME. Theorganisation being observed in this report is Maple fieldMilk an UK based small and medium enterprise which isa community owned micro dairy farm that deals in thedirect selling of low cost processed and pasteurized milkfrom the farm.Venture operational activities:The most important market trend for SME in UK is that there are moreopportunities and ways for SME's in availability of loans and finance by thegovernment. This will impact on Maple Field Milk as it will raise thebusiness expansion opportunities for the firm due to availability of finance.Another main factor is the rise in the use of internet and digitization ofbusiness which will enable Maple field milk to expand its market segment byestablishing online distribution channel for its products. Another importanttrend is the rise in the consumption of healthy products by the people and therise of health concerns, this will increase the demand of the milk which isbeing sold by Maple Field Milk to a greater extent (Brunswicker andVanhaverbeke, 2015).The following are some factors that will affect the business of Maple FieldMilk-Political factors- Political factors such as contribution of government in theSME by various policies and easy way finance will boost the growth anddevelopment of Maple Field Milk at rapid rate.Economic factors- Economic factors such as inflation and credit availabilityas well as market rates will affect the profitability and the cost for the firm asdue to variable changes and instability in UK market.Social Factors- Social factors such as consumer interests and needs, whichconsists of growing health concerns by the people in UK as well as theirdemand for healthy products will boost the sales of Maple Field Milk. Technological factors- Technology advancement such as rise in the use ofinternet and online trading will create many opportunities for Maple FieldMilk to expand its market segment in Uk by having strong reach to itscustomers through internet.Environmental factors- Environmental factors such as climate, food for thecows which will result in milk production affect Maple field milk as anychange in them could result in the change of uniformity of the firm'sbusiness.Legal Factors- Legal factors such as availability of license and variousconsumer laws also affect the business of Maple Field milk as the consumersatisfaction is the main factor in any business(Hillary, 2017).Hence, it is justified that various factors could affect the working ofMaple Field Milk but on the other side there are some factors that will createmore opportunities for the development of Firm's business in the market.CONCLUSIONFrom the above report it is observed that howdifferent trends in market serve as a positive as well asnegative impact on the business of Small Enterprise. Thereport concludes by stating all the environmental factorsthat affects the working of business as well as createdifferent opportunities for the firm in growth andexpansion of its business.REFERENCESBooks and JournalsHillary, R. ed., 2017.Small and medium-sized enterprises and theenvironment: business imperatives. Routledge.Brunswicker, S. and Vanhaverbeke, W., 2015. Open innovation in smalland medium‐sized enterprises (SMEs): External knowledge sourcingstrategies and internal organizational facilitators.Journal of SmallBusiness Management. 53(4). pp.1241-1263.
Small and medium Business Enterprise Assignment_1

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