Growth Challenges Faced by SME Doc

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Estimating the Growth Challenges of Small
ACKNOWLEDGEMENT
For the accomplishment of the present dissertation I would like to sincerely express by
earnest gratitude to my mentor who has provided me sufficient knowledge and greater support.
Further I would also like to thank my friends, colleagues and family members who have guided me
at every stage while conducting this dissertation. Through their support, I was able to complete my
thesis with effectiveness and in an accurate manner. Lastly in the series, I would also like to state
special thanks to my team members who have provided me huge assistance in collecting relevant
set of data and further analysing .
Table of Contents
CHAPTER 1 - INTRODUCTION...................................................................................................5
1.1 Overview..........................................................................................................................5
1.2 Research problem.............................................................................................................5
1.3 Chapter structure..............................................................................................................6
1.4 Focus and Purpose............................................................................................................6
1.5 Aim and objectives...........................................................................................................7
1.6. Research questions..........................................................................................................7
1.7 Framework and analysis...................................................................................................7
1.8 Potential significance........................................................................................................8
CHAPTER 2: LITERATURE REVIEW.........................................................................................9
2.1 Introduction......................................................................................................................9
2.2 Importance of expanding business by SME in retail sector.............................................9
2.3 Growth challenges faced by River Island in the retail sector.........................................10
2.4 Impact of competition and innovation on the growth of retail sector............................12
Alternative finance proposal and support, advice and resources is the factor to consider for
growth of the firm.................................................................................................................16
Conclusion.....................................................................................................................................17
CHAPTER -3 RESEARCH METHODOLOGY...........................................................................18
3.1 Introduction....................................................................................................................18
3.2 Research philosophy.......................................................................................................18
3.3 Research approach..........................................................................................................18
3.4 Types of research............................................................................................................19
3.5 Research design..............................................................................................................19
3.5 Data collection methods.................................................................................................20
3.6 Sampling.........................................................................................................................21
3.7 Data analysis...................................................................................................................21
3.8 Validity and reliability....................................................................................................21
3.9 Research ethics...............................................................................................................22
3.10 Research limitations.....................................................................................................23
Conclusion............................................................................................................................23
CHAPTER 4: DATA ANALYSIS................................................................................................24
4.1 Introduction....................................................................................................................24
4.2 Thematic analysis...........................................................................................................24
CHAPTER 5: DISCUSSION OF FINDINGS...............................................................................39
5.1 Introduction....................................................................................................................39
5.2 Discussion of findings in relation to literature...............................................................39
5.3 Conclusion......................................................................................................................41
CHAPTER 6: CONCLUSION & RECOMMENDATION...........................................................43
6.1 Conclusion......................................................................................................................43
6.2 Recommendation............................................................................................................45
REFERENCES..............................................................................................................................49
Appendix..........................................................................................................................................4
Questionnaire...................................................................................................................................4
Abstract
Aim: To investigate the growth challenges faced by SME while expanding business in a retail
sector
Methodology: The current dissertation is based on investigating the growth challenges faced by
SMEs while expanding business in retail sector and therefore, both primary as well as secondary
methods will be considered by the scholar. In primary method, information will be gathered from
survey. However, secondary information will be collected through books, journals and articles. A
thorough study of literature work will be done through different author’s books, journals and
internet which will form the base for secondary research.
Findings: From the basis of above research, it has been concluded that SME companies has
facing many up and downs in retail sector as per the research findings. The big challenges facing by
the small business growth in competitive market. Present research was based on River Island which
is the London headquartered high street fashion brand having number of worldwide markets. The
objective of the study were determined the current challenges in retail sector which is faced by
small business scale organisations
TOPIC
Estimating the growth challenges of Small and Medium Enterprise Businesses
CHAPTER 1 - INTRODUCTION
1.1 Overview
SMEs is known as the engine of economy, they play significant role for growth and
development of nations. Growth is known as one of the inevitable phases of a business lifecycle
(Storey, 2016). It started with start-up stage and followed by development and growth. In retail
sector, there are a large number of companies that are operating business in the UK retail sector.
Therefore, small medium companies are facing issues at the time of expanding business. They are
looking for the growth perspective of its intrinsic challenges and strategies for handling it in an
effective manner. However, business environment leads to play an effective role in the growth of
SMEs. Measures are taken most of the time in respect to minimise the administrative burdens
(Curran and Storey, 2016). Through introducing tax calculation, government can easily promote the
growth and make sure that company gets access for finance.
The present study is based on investigating the growth challenges faced by SME while
expanding business in a retail sector. The study will help in developing in-depth understanding
related to selected topic and way to overcome issues. Business expansion leads to present the issues
which have to be addressed because growth leads to cause variety of changes due to finance,
managerial and legal challenges. Growth means company’s management can become less
centralised and it may increase the level of internal politics. For River Island, growth means
expanding shares, dealing with competitors, implementing new strategies, etc. Along with this,
additional capital is needed for the growth of business. River Island is operating business in the
retail sector which is now required to focus on its growth and expansion to accomplish success. It is
important for company to understand the issues which they can face while expansion and overcome
them.
1.2 Research problem
Growing business leads to face a lot of challenges. When the business grows, various
problems and opportunities demand various solutions. It is important to recognise and overcome
common drawback related to the growth for success of business. For small medium organisation, it
is not easy to make good position in the market without effective employees, advanced technologies
and current strategies. There are different types of challenges which company need to face such as
competitors, technology, etc. It is important to overcome them through adopting appropriate
strategies which can help in growth and expansion. Present research will help in understanding all
challenges faced by River Island Company at the time of expanding a business. There are various
solutions which will be provided in respect to make improvement in company so that it can work in
an effective manner. All successful small businesses at the time of start-up face various issues
related to handing business expansion and growth. It is considered as the stage of firm life which is
trouble with both threats and opportunities.
1.3 Chapter structure
At the time of considering an investigation subject, examiner is obligatory to take after a
progressive case by adhering an especially described and reasonable structure. This structure can be
displayed by following a section that can be held as an appropriate construction for the present
research. Here below is the provided structure of study:
Chapter 1: Introduction – Section 1 is one of the important chapters that will provide a clear frame-
work for the selected subject matter. This section will cover aim and objectives, research prob-
lem along with potential significance of conducting the research.
Chapter 2: Literature Review – It is the second chapter in research that provides detailed outline of
importance of expanding business by SME in retail sector. Growth challenges faced by River
Island in the retail sector’ will be identified. This segment will lay focus on covering the objec-
tives of investigation. It will be done through undertaking an assessment of the various research
studies. All the published works and articles will be incorporated in this chapter.
Chapter 3: Research Methodology – In third section, the researcher will be provided with detailed
description of the tools and methods which are selected for the present research. Along with
this, validation of the selected technique will be provided. At the last of this chapter, ethical
considerations and limitations faced by scholar will be discussed.
Chapter 4: Data Analysis and Findings- It is the chapter in which information gathered from differ-
ent sources will be analyzed.
Chapter 5: Disucssion and findings: In this chapter all the findings will be discusses in related to
the literature reviews which help in concluding valid outcome in next chapter.
Chapter 6: Conclusion and Recommendations – In the last chapter, investigator will present the
findings derived from the analyzing information. Further, recommendations will be given for
the improvement.
1.4 Focus and Purpose
The investigation is conducted with main reason of investigating growth challenges faced by
SME while expanding business with respect to River Island. The reason for conducting
investigation is to identify gap left by previous scholar on selected subject matter. There are many
researches carried out on the growth challenges faced by company and its impact on firm
expansion. For the organisation, it is important to identify challenges and overcome them to expand
business successfully. It is important for retail companies who are operating their business at a
small scale. There are various growth opportunities available which firm should understand and
grab them. It is one of the ways to be successful in retail sector. Due to increase in competition, it
becomes tough for companies to carry out their business at high level and give them tough
competition. Companies should know about the latest trends and try to follow them which helps in
making position and expanding business in market. In this context, the purpose of current research
is to gain understanding related to different aspects of growth challenges and way to overcome
them.
1.5 Aim and objectives
Aim
To investigate the growth challenges faced by SME while expanding business in a retail
sector - A study of River Island
Research Objectives
To understand the importance of expanding business by SME in retail sector
To identify the growth challenges faced by River Island in retail sector
To evaluate the impact of competition on growth of River Island
To determine the strategies to overcome growth challenges faced by River Island
1.6. Research questions
Q1. What is the importance of expanding business in retail sector?
Q2. What are the growth challenges faced by River Island in the retail sector?
Q3. What is the impact of competition and innovation on the growth of River Island?
Q4. What are the strategies to overcome the growth challenges faced by River Island?
1.7 Framework and analysis
Framework and analysis are considered as one of the important tools while gathering
information from different sources. All these help in providing valid conclusion for the selected
topic. Here below are provided some steps: Design of research – To conduct research in an effective manner, explanatory research
design will be considered by the scholar. It will help in gaining rich and meaningful
information on the subject matter. Research approach – Researcher will make use of inductive approach for the present
research. With the support of this, investigator can easily move from specific information to
general. Present research is on investigating the growth challenges faced by SME while ex-

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