Managing Small and Medium Enterprises

Managing Small and
Medium Enterprises

Table of Contents
INTRODUCTION......................................................................................................................3
MAIN BODY.............................................................................................................................3
FINDINGS.................................................................................................................................3
The nature of the entrepreneur behind the venture................................................................4
The SME start-up processes...................................................................................................4
The business concept and any sources of competitive advantage..........................................6
The current level of demand and the competitive environment.............................................7
The growth and development of the business to date............................................................7
The challenges of managing and running the business..........................................................8
The SMEs current growth and development strategy............................................................9
Any government support measures that may be available to help the business overcome the
challenges faced...................................................................................................................10
CONCLUSION........................................................................................................................11
RECOMMENDATIONS.........................................................................................................12
REFERENCES.........................................................................................................................13
Books and Journals:.............................................................................................................13

INTRODUCTION
SMEs are the small medium enterprises which becomes necessity for a country's
growth. It becomes an essential part of the economy as it gives employment opportunity to
the small business owners. They started with small amount of money that's why there size
and structure is small as compared to other organizations (Adeniji, 2021). Oak cash and carry
limited is the small size organisation that runs their business in Banbury, UK. It is the grocery
wholesaler which has approximate 30 employees. It approximate generates $ 5.13 million as
sales in the company. They started their organisation in a partnership in 2011. This report
shows the nature of entrepreneurship which needed for starting a venture. It also covers some
important concept such as competitive environment, challenges, growth and development
strategy, support measures, etc. This report shows the importance and influence of SMEs in
national and international market.
MAIN BODY
FINDINGS
The nature of the entrepreneur behind the venture
To start an entrepreneurship it is not an easy task for anyone. A person need many
things such as the skills and knowledge for start their own business. It is very obvious that
every entrepreneur has a main objective to earn maximum profits. This can be accomplished
they are ready for taking risk to start their small size business (Ahi and et. al., 2017). They
have to set their objectives in such a way which always motivates them to make effective
strategies in order to get growth and success. Oak cash and carry limited is started in the form
of partnership. They get success and growth in their business because of their partner’s
nature. For opening a business they need some important qualities which mention below:
 An entrepreneur needs of confidence in their nature so that they can take risk and
decisions. It is very important because without confidence that cannot run their
business not even for a single day.
 Entrepreneur nature needs innovative and creative mind set so that they can develop
opportunities for organisation (Boso and et. al., 2017). The key of success is identify
by entrepreneur is innovation. That's why it important to be creative and innovative.

 Business environment is so complex in nature, this is the main reason that why every
person wants to do a job rather than opening their own business. But it is also true that
higher risk gives higher return.
The SME start-up processes
SME needs a proper start-up process so that they cannot face any complexity in
future. Oak cash and carry limited started their business with the help of following of proper
procedure (Cuzdriorean, 2017). They have only 30 employees in their company. Their start-
up process is mentioned below:
Self assessment
The first step of any entrepreneur is to assess themselves. That means they should
sure about to become an entrepreneur. It is vital for a success and growth of Oak cash and
carry limited that their entrepreneur should have all skills and knowledge which helps them to
take a competitive edge (Kumar, Samalia and Verma, 2017). For that purpose, they need to
identify all important qualities in themselves. To become an entrepreneur they need qualities
such as it creator, innovator, risk bearer, self confidence, etc. These things give them
motivation to start their new start-up.
Write a business plan
Business plan is a blueprint or a road map which always assure them that they can
easily achieve their goals and objectives. Business plan listed all activities which they will be
performing in future (Groenen, Mastenbroek and Organisatieadvies, 2021). Some activities
which should be included in the plan are aims and objectives, required resources, financial
arrangement, budget, etc. Oak cash and carry limited took an advice from the advisors which
give them right information about their business.
Choose legal structure
Oak cash and carry limited chose a partnership to start their business. It is depend
upon the decision of a person who acts as an owner. They have a right to select legal structure
in any form such as sole proprietorship, partnership, company, etc. With the chosen of
partnership now key partners have a responsibility to bear their liabilities in respective ratios.