Managing Small and Medium sized Enterprises

Assessment 1
Managing Small and
Medium sized
Enterprises

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
The nature of the entrepreneur behind the venture.....................................................................1
The SME start-up processes........................................................................................................2
The business concept and any sources of competitive advantage...............................................2
The current level of demand and the competitive environment..................................................3
The growth and development of the business to date.................................................................3
The challenges of managing and running the business...............................................................4
The SMEs current growth and development strategy.................................................................4
Any government support measures that may be available to help the business overcome the
challenges faced..........................................................................................................................5
CONCLUSION................................................................................................................................5
References:.......................................................................................................................................6

INTRODUCTION
Small & Medium Size Enterprises (SMEs) refers to the small and medium sized
businesses whose level of assets, number of working employees and revenue are already decided
by the government. Every country has decided various sizes of operations in SMEs. In United
Kingdom, SMEs are divided into 3 categories i.e. Small, medium and Micro businesses.
Involvement of 0-9 employees in any business is micro business, small business include 10-49
employees and it is necessary to have 50-249 employees in a medium sized business. This report
is based on Marshfield bakery. It include various concepts regarding SMEs such as nature of
entrepreneur, their start up process, Current level of demand, various challenges, managing,
growth and development of business etc. which are collected by various sources of secondary
data collection method.
MAIN BODY
The nature of the entrepreneur behind the venture
Marshfield Bakery was started in 1985 and incorporated in 2005. it was founded by Joanna
Louise Allen with the purpose of dealing in food, grocery and bakeries product in retail and wholesale
stores. An entrepreneur is the person who perform the activities of entrepreneurship. Starting or
innovation of any venture is only the result of nature of entrepreneur (Song and et. al., 2019).
Following are the nature of entrepreneur behind the Marshfield bakery: Related to innovation- An entrepreneur should have innovative mind so that they can
continuously think about new ideas. Continuously formation of new ideas result in adoption
of changes which is the only way of success. Risk bearing- It is not necessary that all the business ideas result in success, sometimes it
may cause huge loss as well. So the entrepreneur have to take risk. Only after taking risk,
they can adopt new ideas. Without risk it is not possible to get the success.
 Organiser- Another nature of entrepreneur is that they should be good in organising all the
activities in such way that they can generate revenue (Vrchota 2018).
Joanna Louise Allen had started Marshfield bakery by the adoption and organising all innovative
activities and taking risk. It shows that their nature was just like as entrepreneur . It is the reason how
they had started Marshfield Bakery.
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