Enterprise Business Development Report for Colorful Threads

4. Enterprise business
development report

Table of Contents
Introduction.................................................................................................................................................3
Business Overview:.................................................................................................................................3
Macro Environment Overview:...............................................................................................................3
Market & industry analysis:.....................................................................................................................4
Competitors analysis:..............................................................................................................................5
Marketing & pricing strategies:...............................................................................................................5
Operational Plan:.....................................................................................................................................6
SWOT analysis:.......................................................................................................................................6
Financial requirements:...........................................................................................................................7
Conclusion...................................................................................................................................................9
References.................................................................................................................................................10

Introduction
Entrepreneurship is an activity to start a new business based on a unique idea. The main
aim of entrepreneurship is to create a new venture that will offer creative products or services to
the customers. Here, the entrepreneur starts a new business in a hope to earn high amount of
profit. In other words, entrepreneurship is an activity of developing and managing a new
business venture (Reinhartz-Berger and et. al., 2017). The present study aims to analyze a new
business idea that will undertake by the entrepreneurs. Here, the business plan will prepare for a
clothing business including market, industry, financial and operational analysis of the new
venture. Additionally, competitor’s analysis, marketing & pricing strategies, SWOT analysis will
also cover in the following study.
Business Overview:
The name of business will be “Colorful threads”. It will offer different varieties of
clothes to the customers. The fashion industry of UK is growing hence there is huge scope of
growth for the respective business entity. Here, the target people are those who like to wear
trendy and fashion clothes between the age group of 21 to 45. Here, Colorful threads will offer
fashionable clothes of different sizes so that all the people can enjoy the fashionable and modern
lifestyle. Additionally, following the concept of sustainable fashion is the unique selling
preposition of the respective business entity.
Macro Environment Overview:
In the given context, the venture will be started in the fashion industry. Here, the analysis
of fashion industry is mentioned below:
Political Factors: The fashion industry of UK is affected by the influence of political
figures. Here, people consider political figures as their role model. Hence, the fashion brands can
take it as an opportunity to attract more numbers of buyers. Additionally, Brexit has created
uncertainty within the industry which will also influence the growth of the industry in an
efficient manner (Portes and Guarnizo, 2019).

Economical Factors: Manufacturing clothes is quiet expensive in UK hence the fashion
brands are likely to produce fashion items in developing countries such as India, China and
more. Also, the recent Pandemic has also affected the purchasing power of the customers. now,
people are not likely to spend on luxury fashion items.
Social Factors: In UK, people are highly fashion oriented. They like to wear trendy and
fashionable clothes. Here, 80% of people do not wear the clothes again. This attitude of people is
an opportunity for the fashion brands to grow in the future period of time (Cooper and
Slagmulder, 2017).
Technological Factors: now, more and more people are using online shopping practices.
In current time, people are highly inclined towards technology. The COVID-19 has also enhance
the use of technology in business. In this situation, fashion brands can enhance their presence by
using recent and updated technology in business.
Legal Factors: The fashion industry of UK needs to obey the rules and regulation of
government. Here, the regulations related to manufacturing and selling of clothes are really strict
which need to follow by each and every player working in the respective industry.
Environmental Factors: Large amount of gas is emitted by the fashion industry each
and every year. The industry consumes high energy in terms of production of fashionable
clothes(Donvito, 2018). Here, the fashion brands are required to follow the sustainable practices
in order to ensure long term success.
Market & industry analysis:
The colorful thread will work in the fashion industry of UK. It is analyzed that fashion
industry of UK is large that employees nearly 555,000 people and has the worth of 60.3 billion
(Radonic, 2021). In this context porters five forces is explained below:
Threats of new entrants: There is requirement of huge investment in the fashion
industry. Also, ample of large players such as Burberry, M & S are already working within the
industry. In this situation, it is quite complex for a new firm to enter and sustain for longer time
(Varley and et. al., 2018).