Managing Small and Medium Enterprises

Managing small and
medium enterprises

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
LO1 Ability to debate contemporary issues relating to SMEs and government support
available to help businesses address these issues........................................................................1
LO2 Ability to identify and evaluate development routes for an SME.......................................3
LO3 Evidences of appraising alternative methods of growth in SMEs.......................................4
LO4 Evidences of investigation and evaluation of sources of finance in SMEs.........................4
LO5 Show proof of designing a growth policy for an SME........................................................5
LO6 Proof of understanding about how to manage change issues in an SME context...............6
RECOMMENDATION...................................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Small and medium firms possess a lot of importance for each and every country since it helps in
the growth and development of the economy of a nation and that too in an impactful manner
(Bada and Nurse, 2019). There are a number of different small and medium natured firms that
are operating in the UK and thus contributes in the major part of the economy and thus Brain
Labs Digital LTD. has taken for the purpose of analysis and evaluation in a very precise manner
so that it can add value in the long run. This research is divided into six sections; each of them
examines the relevance of SMEs in the UK business. The very first aspect would then look at
relevant problems and govt assistance for SMEs, the aspect two would then look at evaluating
advancement routes for SMEs, the third section would then look at various ways of expansion in
SMEs, the section 4 would then look at funding sources for SMEs, the section five would then
look at job creation strategic planning for SMEs, and the last aspect would then look at the future
of SMEs.
MAIN BODY
LO1 Ability to debate contemporary issues relating to SMEs and government support available
to help businesses address these issues
GOVERNMENT SUPPORT AND CONTEMPORARY ISSUES TO SMEs- As per
McKinsey, micro and moderate firms contribute 50% of the UK market's income and create and
over 40% of the country's workforce. As a result, the UK authorities must ensure that such
enterprises continue to operate in the nation as they have an influence on the nation's
infrastructure. Numerous strategies and regulations are being introduced by authorities in favour
of small and medium-sized firms, as per a McKinsey poll, smaller and moderate enterprises are
experiencing immobility, and Brain Labs Digital LTD. will confront additional outbreaks in
2020 owing to COVID 19, now in its second stage (Choi, Kim and Yang, 2018).