Managing SMEs: Challenges, Growth Strategies, and Government Support

Managing SMEs

Table of Contents
INTRODUCTION...............................................................................................................3
FINDINGS...................................................................................................................................3
The start-up process of Warburton Building services............................................................4
The business concept and any sources of competitive advantage.........................................5
The current level of demand and the competitive environment.............................................5
The growth and development of business to date..................................................................6
The challenges of managing and running business................................................................6
The SMEs current growth and development strategy............................................................7
Any government support measure that may be available to help the business overcome the
challenges faced......................................................................................................................8
CONCLUSION..............................................................................................................................9
RECOMMENDATIONS...............................................................................................................9
REFERENCES.............................................................................................................................10

INTRODUCTION
Small and medium enterprise contribute largely towards the economy of a nation and are
emerged due to major challenges arouse in a market environment. Entrepreneur are those who
come up with a innovative approach which have not be done even before and develop a
products and services as per the available opportunities to satisfy the unmatched and
unaddressed needs of customers . One of the significant example of small medium enterprise is
Warburton Building Service located in Southern England which enable the company in
addressing the needs of building industry. The enterprise was established in the year 1979, with
the objective of providing mechanical and electrical service and maintained to the commercial
and residential building at UK. Company offer a numerous range of services such as hot and
cold water installations, air supply and ventilation system, rainwater, guttering and drainage
system through their qualified technicians and engineers. The report is conducted on various
aspects such as nature of business, process for set up SMEs, growth and development strategy
along with the challenges and measures taken by the government to overcome these challenges.
FINDINGS
The objective of the report is to conduct a detailed analysis of the nature of the business
of Warburton Building Service and how the enterprise was formed and developed. What is the
concept of business, sources of competitive advantage, current level of demand along with the
competitive advantage of Warburton Building Service and how much company have grown and
developed over a period of time. Another important aspect covered in the report is challenges
and difficulties faced by the company while executing its business operations along with the
government support measures taken so as to overcome these challenges (Díaz-Correa and
López-Navarro, 2018).
The nature of the entrepreneur behind the venture
The report is conducted on the entrepreneurial enterprise which is Warburton Building
Services which have emerged out with the concept of providing mechanical and electrical
service and maintenance to the construction sector. With their qualified and experienced
engineering technicians, company undertakes the numerous building projects such as
ventilation, heating, plumbing, rainwater, electrical,air conditioning and cooling, leadwork etc.

with the use of modern products, components and techniques. There was the increase in the
demand for the maintenance of the existing or new office and residential building which gave
the spark to come with the idea of creating a architectural designs for the old and unused
building and convert them into a valuable assets.
The start-up process of Warburton Building services
Warburton Building services have emerged through the series of steps which have given
the shape of legal entity from a mere business idea (Sahoo and Yadav, 2018). The series of
steps are :
 Getting an idea : Business ideas are generated only by identifying the various
challenges prevailing in a environment and convert them into a business opportunity.
Warburton identifies the companies in a relevant sector, understand what they do and
how these could be done in another way. Target customer group is generally identified
at this stage. Business plan :Business plans helps Warburton in setting vision, mission and long term
goals of a business. With the help of extensive research Warburton gets to know
customer need, taste, buying power, attitude as well the products of competitors. Exit
strategy is wise option to consider at this stage. Getting finances :Converting business plans into reality need finance and company look
for a numerous sources of finance such as bank loans, anger investors, investors,
crowdfunding etc. Warburton used opted for bank loans while entering into the market. Identify legal structure : Getting a right legal structure help the business in future
success and growth and have signifiant impact over legal bindings. Warburton have a
limited liability structure which offer legal protection and tax benefits at the same time. Register with government and IRS : In order to run a business it is essential to get the
firm registered with government (Ghadge, Wurtmann and Seuring, 2020). Article of
incorporation is a document which covers name, purpose, structure and other detailed of
the company.
 Build workforce, choose supplier and market the products : The last step is to hire a
workforce for efficiently running the business operations along with the trading partners