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Managing and Running a Small Business Assignment - Austin Fraser

Added on - 23 Nov 2020

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MANAGING ANDRUNNING A SMALLBUSINESS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1) Main considerations a small business or social enterprise needs....................................1TASK 2............................................................................................................................................3P2) Various processes of customer relationship management in an organisation..................3P3) Small business can develop transnationally and benefits and drawbacks.......................4TASK 3............................................................................................................................................5P4) Annual itemised monthly cash flow forecast showing fixed and variable costs.............5P5) Way of break-even analysis applied to an organisational situations...............................8P6) Interpretation on key financial statements for an organisation........................................8TASK 4............................................................................................................................................9P7 Legislation and regulations which have major implications on small business enterprises..9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONToday, in every nation small enterprises are establishing their business at high rate. Thesefirms are organised, operated and controlled by private owners. Along with this, as compared tolarge companies, relatively SME's have minimum staff members also. It includes consultancy,small departmental stores, restaurants, software developers and more. Due to occurrence of largemanner, small enterprises help nation in reducing rate of unemployment as well as increasingeconomy of country. In this manner, a report has been prepared on Austin Fraser. It is a smallconsultancy firm of UK which has near about 200 employees at workplace (Ali and Babiker,2017). This firm provides candidates in other companies related to IT, project management, webdevelopers and more. This assignment has shown the main consideration which are needed toconsider small enterprises while launching their business. Along with this, different sources offunding, break-even analysis and financial statement are also explained in concise manner.TASK 1P1) Main considerations a small business or social enterprise needsIn UK, small business organisations are developing at fast rate which gives variousbenefits to nation in reducing unemployment as well as increasing economy. Companies underthis section are privately owned basically in three sections as partnership, sole proprietorship andjoint business. These firms have less staff members and revenues as compared to other largecorporation and regular-sized organisations. Austin Fraser is a small consultancy business inUnited Kingdom which provide clients either on contract or permanent roles especially intechnology, automation, digital and life science industries (Chauma, 2017). The main aim andpurpose of this company is to provide accurate employment to job seekers and help them inmaximising living standard.In order to design a proper plan, there are various factors available through whichentrepreneurs can achieve growth in their business. In this regard, they are required to consideron few points in social as discussed below:Financial resources:This factor consider as most important stream which is required byevery enterprise in running all operational activities and functions within set period of time. Incontext with small business organisation like Austin Fraser, without ample amount of finance, itcannot achieve its success in proper way. With this assistance, it is essential for managers of this1
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