Managing Small and Medium Enterprise

MANAGING SMALL AND
MEDIUM ENTERPRISE

Table of Contents
INTRODUCTION...........................................................................................................................3
Determine the issues faced by small and medium enterprises and the governmental support to
address these issues......................................................................................................................3
FINDINGS.......................................................................................................................................4
Determine the development routes of Verdant Leisure company................................................4
Evaluate the sources of finances used by Verdant Leisure Company.........................................8
CONCLUSION................................................................................................................................9
RECCOMENDATIONS................................................................................................................10
Proof showing of growth policy used by Verdant Leisure Company........................................10
Evaluate the strategies that needs to the implemented in order to manage the challenges and
issues faced by Verdant Leisure Company................................................................................11
REFLECTIVE SUMMARY..........................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Determine the issues faced by small and medium enterprises and the governmental support to
address these issues
The key issues and challenges faced by small and medium sized enterprises (SME’s)
includes different factors which restricts their journey to achieve business success. SME’s faces
different issues, some of these are stated below:
Lack of finance
The major issue faced by SME’s is lack of sufficient fund which often leads to business failure.
Businesses does not find the appropriate sources of funds, which clashes the business operations.
The lack of finances leads to non-adoption of technologies, lack of business growth opportunities
and further lead to business failure (Foghani, Mahadi and Omar, 2017).
Lack of efficient workforce
Lack of efficient workforce in SME’s results to non-execution of different business functions.
Where failure in management of business operation negatively impacts the business objectives.
High competition
Due to high competition in the market leads SME’s unable to survive in the marketplace. Where
the existing big companies have already acquired its place in the market, it becomes difficult for
SME’s enter and build its position in the market (Hussain and et.al., 2017).
In order to helps different small and medium enterprises, the government of UK
formulates different policies and strategies in order to promote the growth and development of
SME’s. Business support is offered to SME’s with the sole motive of achieving welfare of
economy. Government of UK renders the support and assistance to the SME’s to develop the
business and lead UK, the best place for conducting businesses. The UK government have
framed different policies to support SME’s. These policies are as:
Finances to SME’s
The government offers long term finances, overdraft and other financial assistance to the SME’s
in UK. The government supports SME’s in order to promote the economic development in the
country.
Grants

The UK government renders grants ranging up to £51,000 to retail, hospitality and leisure
industries.
National business support helpline
The national business support is the support assistances offered by the government of UK, to
deliver business solutions and other related assistances to SME’s. For taking the services of
national helpline, the business has to give a missed call on the helpline number, the support team
will respond back and give valuable solution to the businesses (Karadag, 2015).
Tax reliefs
The government of UK reduces the taxes of SME’s which involves tax reliefs on purchasing of
fixed assets, research and development tax reliefs, entrepreneurial and capital allowances in
order to promote development of SME’s.
Training
Government of UK, renders trainings opportunities to the employers of the business so that they
have the complete information for how to manage and conduct business activities.
In the context of Verdant Leisure which is an UK based SME organisation delivery quality
holiday packages, room stays and tourism services to its customers. The common issues faced by
verdant leisure the includes lack of funds for their growth of the business, adoption to
technology, marketing platforms, advantage to government schemes. The government of UK
renders funds for the grow and development of the SME’s, moreover they produce cheap credit
facilities and loan facilities to the SME’s, the government pf UK also helps to recruit the talented
employees in the workplace in order to achieve productivity and efficiencies in business
activities. major This report covers the development routes for SME’s, determining the
alternative methods of growth of SME’s, evaluation of sources of finances of the SME’s, proof
of designing a growth policy of SME, how to manage issue for the chosen SME (Kim and Shim,
2018).
FINDINGS
Determine the development routes of Verdant Leisure company
Verdant Leisure is a leading SME, which promise for delivering quality services to its
end customers. In order to acquire market, share and growth it formulates different development
growth strategies to accomplish organisational objectives: