Producing A Profile Of Small Business

Small Business
Enterprise

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Producing profile of small business with identifying strengths and weaknesses of small
business...................................................................................................................................1
2.2 Comparative measures of performance management.......................................................3
TASK 2............................................................................................................................................5
2.1 Recommendations to overcome weaknesses....................................................................5
2.2 Ways to improve existing business performance.............................................................7
2.3 New areas in which business can be expanded................................................................8
TASK 3............................................................................................................................................9
3.1 Existing objectives and plans of SME..............................................................................9
3.2 Revision of business plans to incorporate appropriate changes.....................................11
3.3 Action plans to implement modifications.......................................................................12
TASK 4..........................................................................................................................................12
4.1 Impact of changes on small business and its personnel.................................................12
4.2 Management of changes in small business.....................................................................13
4.3 Monitor improvements in performance of company over a given timescale.................14
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16

INTRODUCTION
Small business enterprises are generally private firms which are mostly run by single
person. In simple words, company that has less than 9 workers is known as small business
enterprise. They provide various products and services to massive organizations. Being small
business is a big advantage as it gives quick response to customer needs, require lower costs,
flexible in nature, covers local area and provide personalised customer services. Along with this,
it also strengthens the national economy by providing employment to unemployed people (Small
Business, Enterprise and Employment Act - What you need to know, 2017). Moreover,
government of UK provides financial aid to small businesses so that they can keep growing in
competitive market place. This project report is based on ''Austin Fraser'' which is a little
enterprise. It is basically staffing and recruiting consultancy firm. In this file, various strengths
and weaknesses of this company are discussed. Along with this, some comparative measures of
performance along with the ways to improve existing performance are explained.
TASK 1
1.1 Producing profile of small business with identifying strengths and weaknesses of small
business
Small businesses are tiny in size, as they involve few number of workers to operate
organisational activities. The growth of economy is highly depended upon little enterprises
because they provide required resources to large corporations. The main objectives of this
company are follows as under:
Success of any company lies upon its strengths, and failure depends upon Weaknesses. With the
help of SWOT analysis, different strong and weak points of Austin Fraser can be evaluated.
Also, it helps in identifying future opportunities and threats of company.
Strengths: Weaknesses:
 Austin Fraser gives central attention to
the needs and demands of their
customers because it is highly customer
focused. Which helps it in attracting
more customers.
 This organization is highly popular for
 The biggest weak point of this
organization is that it have less
financial resources.
 As, this company have small size but
still it have to face high labour
turnover. It is incapable to bear such
1