Importance of Small and Medium Enterprises in Economic Growth

Small and medium enterprise

EXECUTIVE SUMMARY..............................................................................................................3
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
What is the nature of entrepreneur behind the venture?.............................................................4
What is the processes of SME start-up?......................................................................................5
What is your business concept and sources of competitive advantage?.....................................6
What is your Current level of demand and the competitive environment?.................................7
What is the Growth and development of the business?..............................................................8
What are challenges of managing and running the business?.....................................................8
What is SMEs current growth and development strategy?.........................................................9
What are measure of Government supports that helps the business to overcome the challenges
faced by SMEs?.........................................................................................................................10
Questionnaire.................................................................................................................................11
Recommendations.....................................................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

EXECUTIVE SUMMARY
The present report will cover importance of small and medium size enterprises in the
growth of the economy and process of Start-ups companies. The focus of this report on to
evaluation of an existing small and medium size enterprises and according to them design and
develop strategies for the growth of the business. Environmental and internal factors impact on
company's functioning and create barriers in their growth. Some barriers are:lack of financial
resource, ineffective workforce. On order to solve all that problems the government provides
some solutions and makes some schemes for them which helps them in removing barriers and
develop in the market.

INTRODUCTION
SMEs businesses are those businesses whose personnel numbers fall below certain limits.
The chosen enterprise for this report is Wiser funding which is registered on company house.
This company was founded in 2016. The founder of this company are Professor Edward Altman
and Dr. Gabriele Sabato. The main work of this company is to assess the credit risk of small and
medium size enterprises. Through their online platform they provide businesses who are looking
to obtain finance in order to operate business and make decisions quicker than ever before. This
company operates and pioneer of credit risk analytical and risk modelling. The main concept and
aim of this company to maximize their predicting power. This study will cover or shows nature
of entrepreneurs of small and medium size enterprises like creating jobs, community
development and help in the growth of the company. Some challenges and issues that these type
of companies have to face like implementation of new techniques, lack of potential and qualified
workforce that becomes the barriers in the growth of these companies (Wicker and et.al., 2015).
The main aim of this report is to evaluate SMEs and then develop strategies in order to resolve
problems that it faces and make growth from the business.
MAIN BODY
What is the nature of entrepreneur behind the venture?
An entrepreneur is a person who is responsible for organizing and operating the risk in
the business venture for gaining profit and productivity of Wiser finding. Entrepreneur helps to
occupy a central position in market. They play an important role in the wiser funding in order to
maintain growth and development of the company. Their roles and nature are as follows:
Motivator
Motivator is the most important nature of the entrepreneur in wiser funding. They always
tried to motivate the people and employees in company. They are give motivation to their
employees and team members. By this team members and employees are able to give their hard
contribution to achieve the goals and objective of wiser finding.
Innovative
Entrepreneur has the nature of innovative thinking for making effective and valuable
changes in product and their services to attract customers towards it. Entrepreneur of wiser