Managing Small and Medium Enterprises

MANAGING SMALL
AND MEDIUM
ENTERPRISES

Contents
INTRODUCTION.......................................................................................................................................3
Entrepreneurial Venture..........................................................................................................................3
Process of SME start-up..........................................................................................................................3
Concept of business and competitive advantage......................................................................................4
Demand and Competitive Environment...................................................................................................4
Growth of company.................................................................................................................................5
Challenges in managing business............................................................................................................5
Any government support measures that may be available to help the business overcome the challenges
faced........................................................................................................................................................6
The SMEs current growth and development strategy..............................................................................7
RECOMMENDATIONS.............................................................................................................................7
CONCLUSION...........................................................................................................................................7
REFERENCES............................................................................................................................................8

INTRODUCTION
This report revolves around small and medium enterprises and help in understanding how small
and medium enterprises are managed and handled in different perspectives. This report help in
understanding how small and medium enterprise functions and different work process which are
involved in small and medium enterprise functioning. This report focuses on organization
Southern Technologies which is an SME based in UK. This report also focuses on strategy which
is been used by Southern Technologies to be competitive in market and helps in understanding
how finance of organization are used and help in understanding importance of resources for
small and medium enterprise in current market scenario (Abdulaali, Alnoor and Eneizan, 2019).
Entrepreneurial Venture
A small business has less resources and annual revenue than large and medium company.
Entrepreneurial venture is a concept of offering a product of service with an intention of giving
competition to competitors and profit maximization. Iwoca is medium sized enterprise which
provides financial services to small business. It was established by James and cristoph with the
aim of helping small businesses. Iwoca main focus is on lending money to small businesses
which were left behind by banks that’s why it is able to growing rapidly. Iwoca is giving
competition to its competitors by reducing paperwork. It lends services by using lightning-fast
software which helps in profit maximization.
Process of SME start-up
As mentioned above Iwoca was established by James and cristoph. Both were working in a
finance company. After working there, Owners of iwoca have an idea of starting a new
business .Idea is only aims to small businesses. Company provides loans up to $250,000. Before
starting new business, conduction of market research is necessary. Market research tell about the
competitors. If there is high competition then business idea must have something unique to give
competition to competitors. After all the market research company writes its business plan which
includes objectives, what methods can be used in order to achieve that goals and how much time
will be taken in achieving the goals. Business plan is formal written document. Main part is
funding of the business. Company is funded by sixteen investors. Company’s latest fund was
raised on 3rd august, 2020 and it was funded by insight investment and capability and innovation
fund. Till now, total funding amount is $605.5M.Company’s location is London, England. As it