Management of SMEs and Entrepreneur in the UK

Managing small and medium
sized enterprises UK

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Findings.......................................................................................................................................3
Characteristics of business...........................................................................................................3
Start-up process...........................................................................................................................4
Business concept..........................................................................................................................4
Competitive advantage................................................................................................................5
Current level of demand and the competitive environment.........................................................5
Growth and development of business..........................................................................................6
Challenges of managing and running SME.................................................................................6
Government schemes for furniture business................................................................................7
CONCLUSION................................................................................................................................8
Recommendations........................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The report is on management of SMEs and entrepreneur which include details of the business
type, size and for how much time it has been in business. SME means small and medium
enterprise where the employees’ strength is not high as well as the nature of business. The
entrepreneur’s nature is discussed with the business concept and the competitive analysis, current
growth and strategy and challenges of managing and running of SME and assessing the current
growth and strategy of development. The example being taken here for SME is Capital Joinery.
Capital Joinery is a wooden furniture start up based in UK which deals in making widgets and
accessories like doors, windows, chairs etc. for household and official purposes. It works in West
London and has completed 20 years in operation. The sources used in the study are secondary in
nature through books and internet sources.
Findings
Aim: To know about management of operations in SME.
Objectives:
To study about the challenges and evolution of SME.
To know about business strategy of SME.
Characteristics of business
In furniture industry, the modern methods are mostly based on availability of artificial materials
like plywood which is reliable, boards which are laminated, boards made of natural wood which
is solid. It is likely, that manufacturers give preference of one to other although the substance of
material gets affected by the climate (Aldrich, 2017). Although wood has been considered as
traditional material for furniture making but also many materials are used in combination which
give strength and a look to the furniture like plastic laminate, ply etc.

Start-up process
Capital Joinery have been successful in their business start up with creation of a business plan
which has guided them the procedure to follow. Registration for tax was duly done by the
company. It has helped in getting taxes paid on time and form an image of a reliable tax-paying
company. Tool collection required in carpentry business were aptly collected, Capital Joinery
according to the research performed uses latest technical equipment which are a bit expensive
but give quality in service and reduce time taken proving efficiency. Transport measures were
made available with vehicles who can deliver the goods appropriately and also bring in raw
material for manufacturing. Capital Joinery also insured its property in case of any mishappen.
Capital Joinery as shown by research marketed itself effectively with target segment of UK
household which have seen an increase in the past decades. Promotional techniques have created
an image of emerging brand in the minds of its customers. The best supplier of furniture have
been found by the company who provide quality raw material and can provide customer
satisfaction in form of finished goods.
Business concept
There has been an unprecedented increase in number of UK households and thus has come a
requirement of furniture by them. Capital Joinery has based the business for serving them as their
customer segment with quality furniture at affordable prices (Aldrich, 2017). Capital Joinery has
a way of functioning which starts with on site survey at property and liaison with client.
Professional advice is given on helping customers select correct units which can also help in
reducing of bills.
Currently, as small town develop and approach city standards, more and more residences
are being established in the city. As the population grows, so does the demand for furniture in
homes, which is where the furniture manufacturing and showroom business plan comes into
play. There is a significant increase in demand for furniture at the moment, and the company is
well positioned to provide it. Over the last five years, statistics suggest that demand for wooden
furniture has increased. This has been found to increase at a rapid rate, which is encouraging for
those considering beginning a new firm. Between 2009 and 2019, there was a 6.8% increase in
the number of new houses built (Bosma, Sanders and Stam, 2018).