Growth Opportunities and Funding Sources for Gallery and Art Studio

Scaling up the
Business

Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
TASK 1............................................................................................................................................4
P1 Analyse key factors that help to evaluate the growth opportunities.................................4
P2 Evaluate the opportunities for growth applying Ansoff’s growth vector matrix..............5
M1 Identify the options for progress by the use of framework and explain using advantages.
................................................................................................................................................7
D1 Find out the options that are available for growth and how risk can be decreased..........7
TASK 2............................................................................................................................................8
P3 Find out the potential sources of funding that are available to businesses and analyse their
drawbacks and benefits..........................................................................................................8
M2. Evaluate potential sources of funding and justification for the adoption of an appropriate
source of funding for a given organisational context.............................................................9
D2. Find out the most appropriate source of finance and the reason to choose the source....9
TASK 3..........................................................................................................................................10
P4 Design a business plan for growth..................................................................................10
M3 Construct detailed business plan for growth of business enterprise..............................12
D3 Present a detailed business plan that shows knowledge to apply and achieve business
objectives in an effective manner.........................................................................................12
TASK 4..........................................................................................................................................12
P5 Assess exit or succession options for a small business explaining the benefits and
drawbacks of each option.....................................................................................................12
M4 Evaluate exit or succession options for a small business comparing and contrasting the
options and making valid recommendations........................................................................13
D4 Write about the exit options that are available for a small business and take appropriate
decisions...............................................................................................................................13
CONCLUSION..............................................................................................................................15

REFERENCES..............................................................................................................................16
Books and Journals...............................................................................................................16

INTRODUCTION
Business is uncertain so it important for the owner of business to plan in effective way for
the growth of business as well as it contributes to GDP of the nation. In this report there is
discussion relation a SME started by Zoe Allen in which she deals in hand craft. The company
deals in various products like beeswax candles, greeting cards, pottery and potpourri. Due to
lockdown she is facing some problems (Sclar, Baird-Zars, Fischer and Stahl, 2019). In this report
there is discussion related to the growth opportunities available for the business. Ansoof matrix
in regard to growth is also part of this report. Business plan including financial sources available
are also part of this report. Along with that selecting the best source of fund that will help the
business to grow is mentioned in report. The exit routes that are available for SME along with
advantages and disadvantages are part of this report. In the end there is critical evaluation related
to succession options for a small business along with recommendations that will support
implementation.
MAIN BODY
TASK 1
P1 Analyse key factors that help to evaluate the growth opportunities
It is important to note that growth is vital in every business. It is seen that no business can
run without making a considerable amount of growth and earning money. It is vital for all the
business organisations to conduct research and take care of all the business aspects so as to grab
the opportunity and grow (Dranka and Ferreira, 2018). It is vital to note that competition is
increasing day by day so it becomes vital for the business to take care of all the important
resources that are required by a business organisation to grow. If it is a large or small
corporation, every organisation wants to succeed for a longer period of time. They want to sell
their goods both locally and internationally. Small-scale businesses are recognised to play an
important role in the economy, contributing to gross domestic product. The various points that
must be considered by business organisation while evaluating the opportunity for growth are
described below:
Innovative product and services: It is important for the business organisation to bring
some innovation in the product and service that is offered by them. As it helps them to attract the
customers and formulate strong image in the market (Ponzini and Santangelo, 2018). It is one of