Managing Small and Medium Sized Enterprises

Managing small and medium
sized enterprises

EXECUTIVE SUMMARY
This report is based on eth topic “Managing small and medium sized enterprises” in
which UK based small sized company called Nisa is taken. It involves determining eth nature of
business, how the business is being managed, what are eth key challenges and eth growth and
development opportunities which is available with eth company. On finding, it can be stated that
the Nisa has implemented market development strategy in order to grow and expand its business.

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................1
Nature of the entrepreneur behind the venture............................................................................1
SME start-up process...................................................................................................................1
Concept of business and sources of competitive advantage........................................................2
Competitive environment of the business....................................................................................3
FINDINGS.......................................................................................................................................4
Growth and development of the business to date........................................................................4
Challenges of managing and running the business......................................................................4
SMEs current growth and development strategy.........................................................................5
Government support measures available to Nisa.........................................................................7
CONCLUSION................................................................................................................................8
RECOMMENDATION...................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The small and medium enterprises in UK are the one which are having the employees
less than the prescribed limit which is of 250 personnel. Apart from that it also has lower
turnover and the availability of the assets as compared to the large businesses in the country.
Nisa is a chain of the wholesale and the retail stores in UK that are dealing with the grocery
products in the country. Initially it was operating as the cooperative and now it has been a wholly
owned subsidiary of the cooperative group. The project shall be highlighting the process of
starting a small and medium enterprise and also the type of entrepreneur which has established
the venture Nisa. It shall be evaluating the competitive environment of the company and the list
of the competitors that are giving tough competition to the company. It shall also be reflecting
the growth and development that has taken place till date and the strategies that are formulated
for future needs and requirement.
Nature of the entrepreneur behind the venture
The entrepreneur of Nisa has risk taking capacity and is determined to earn the profits in
the business. Entering into a highly competitive industry and building the target market by
streamlining the prices needs talent and determination towards the goals of the business. The
entrepreneur has a positive approach towards the society and its development.
SME start-up process
A small and medium enterprise can be established by a determined entrepreneur who
wants to conduct the business operations in order to earn profitability and achieve growth by
fulfilling the needs and expectations of the customer. There are few steps that are to be
conducted in respect of starting a SME which are:-
 Firstly the entrepreneur has to establish a detailed business plan in which it shall specify
all the relevant details regarding the business operations that are to be conducted, the
industry, competitors, strategies, marketing mix and the budget. Through this the
feasibility shall be checked by the entrepreneur regarding the business idea (Ndiaye and
et.al., 2018).
 Post the formation of the business plan the entrepreneur shall reaching out to an advisor
who can be the certified public accountant and the attorney and know the legal and
taxation related matters that are associated with the business of the company. They will
proper feedback and also guide in the further process to establish the business.
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