Planning for Growth: A Comprehensive Guide for SMEs

Planning for Growth

Table of Contents
LO1). Analyse the key considerations SMEs should consider when evaluating growth
opportunities....................................................................................................................................4
P1). Analyse key considerations for evaluating growth opportunities and justify these
considerations within an organisational context..........................................................................4
P2) Evaluate the opportunities for growth applying Ansoff’s growth vector matrix..................6
M1). Discuss the options for growth using a range of analytical frameworks to demonstrate the
understanding of competitive advantage within an organisational context.................................8
D1). Critically evaluate specific options and pathways for growth, taking into account the risks
of each option and how they can be mitigated.............................................................................9
LO2). Assess the various methods through which organisations access funding and when to use
different types of funding..............................................................................................................10
P3). Assess the potential sources of funding available to businesses and discuss benefits and
drawbacks of each source..........................................................................................................10
M2). Evaluate potential sources of funding and justification for the adoption of an appropriate
source of funding for a given organisational context.................................................................12
D2). Critically evaluate potential sources of funding with justified argument for the adoption
of a particular source or combination of sources, based on organisational needs.....................13
LO3). Develop a business plan (including financials) and communicate how you intend scaling
up a business..................................................................................................................................14
P4). Design a business plan for growth that includes financial information and strategic
objectives for scaling up a business...........................................................................................14
M3). Develop an appropriate and detailed business plan for growth and securing investment,
setting out strategic objectives, strategies and appropriate frameworks for achieving objectives.

....................................................................................................................................................16
D3). Present a coherent and detailed business plan that demonstrates knowledge and
understanding of how to formulate, apply and achieve business objectives successfully.........18
LO4). Assess the various ways a small business owner can exit the business and the implications
of each option................................................................................................................................19
P5). Assess exit or succession options for a small business explaining the benefits and
drawbacks of each option...........................................................................................................19
M4). Evaluate exit or succession options for a small business comparing and contrasting the
options and making valid recommendations..............................................................................22
D4). Provide critical evaluation of the exit or succession options for a small business and
decide an appropriate course of action with justified recommendations to support
implementation...........................................................................................................................23
Conclusion.....................................................................................................................................24
Reference:......................................................................................................................................25

Introduction
There are various business organisations which operate in the business environment of the
United Kingdom which includes small as well as medium enterprises. It is essential for the
effective growth and the enhancement of the business that adequate strategies or plans are
adopted by the organisation so that it can survive for a long period of time by establishing
recognition in the market and providing satisfaction to the customers. The aim or objective of
this assignment is planning for the growth of the business of the organisation. This assignment
provides the information regarding the opportunities available with the organisation, evaluation
of these growth and enhancement opportunities is done by the adopting various models. This
also includes the methods and the opportunities which are adopted by the management of the
company for having the competitive advantage over the competitors in the market. This
assignment also provides the overview of the sources available with the organisation for raising
funds and this also includes the strength and weakness of the sources. Under this assignment, a
business plan is formulated which includes the strategies for financial aspects and for the
development and enhancement of the business of the organisation. In this regards, an
organisation is selected i.e. Norsk European Wholesale Ltd., which operates its business in the
United Kingdom and provides the services of transportation, storage, specialisation in different
sectors and other technical services.

LO1). Analyse the key considerations SMEs should consider when evaluating growth
opportunities.
P1). Analyse key considerations for evaluating growth opportunities and justify these
considerations within an organisational context.
There are various factors which are considered and help in the evaluation of the opportunities for
growth. It is essential that all the factors are taken into consideration while evaluating the growth
opportunities for the company or the organisation. These factors also contribute and provide
assistance in formulating the plans and the strategies for growth of the company. These factors
are as follows:
Products and Services of the company: This factor is considered one of the most important or
significant factors for the survival of the company and its business. It is essential that the new
and effective products and services with new features and the characteristics must be introduced
in the market so that the company is able to enhance or develop its business and the quality of
the products and the services. This means that innovative and creative ideas are necessary for the
continuous growth of the business (Storey, 2016). There are various employees which are
employed in the company based on the creativeness of the individual. This also includes the life
cycle of the product which consists of different stages which are growth, maturity, and decline.
However, it is also stated that this life cycle of the product is dependent on the current scenario
of the market and influences the strategies for marketing as well.
Availability of Resources: It is well known that scarcity of resources is one of the major
problems faced by the organisation all over the globe. It is necessary that the proper resources
are available with the organisation so that it can work towards the accomplishments of the
organisational goals or aims i.e. the growth of the business (Barber, et. al., 2016).
Capabilities and Skills: For effectively achieving the goals or the objectives of the organisation,
it is necessary that the company is capable of performing the task or the operations which are
essential for growth of the company as well as having competitive advantage over the
competitors of the company operating in the market (Burns, 2016). For making sure that the
workforce of the organisation has required skills and capabilities which are required for the

growth of the business of the organisation and having a competitive advantage, training sessions
are organised by organisations.