Small and Medium Enterprises

Running head: SMALL AND MEDIUM ENTERPRISES
Small and Medium Enterprises
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SMALL AND MEDIUM ENTERPRISES1
Executive Summary
The Small and Medium Sized Enterprises (SMEs) are the independent and non-
subsidiary firms that employ few number of staffs and employees. There are several ways for
the SMEs to be successful, form some financial returns and having a work-life balance for
making the world a good place to live in. This report has been elaborated on discussing about
the modern issues that these companies face and has been explored the several strategic
issues that take place in the management of the SMEs as well. The report has also provided
some recommendations and alternative routes for business development in these firms and
would investigate and evaluate the different business development methods in these
companies.

SMALL AND MEDIUM ENTERPRISES2
Table of Contents
1. Introduction............................................................................................................................3
2. Discussion..............................................................................................................................3
2.1. Analysis of the interview of an entrepreneur who runs an SME....................................3
2.2. Contemporary issues relating to SMEs...........................................................................5
2.3. Strategic issues in SME management.............................................................................6
2.4. Alternative routes of business development in SMEs.....................................................7
2.5. Diverse business development methods in SMEs...........................................................9
2.6. Analyse financial aspects of business expansion in SMEs...........................................10
2.7. Appraising change and development processes in SMEs.............................................11
3. Conclusion............................................................................................................................12
References:...............................................................................................................................13

SMALL AND MEDIUM ENTERPRISES3
1. Introduction
In this new economy era, the rapidly changing technologies and globalising
economies are shedding very increased pressures on the companies for reorganising their
structures and for enhancing their flexibility and adaptability. It is true for both the large and
the small scale firms, whose performance and development is highly dependent on the
managerial structure that is decentralised, adaptive and participatory. As per the study of
Zhou (2016) on the high growth SMEs (Small and Medium Enterprises), good management
of the business process and operation is very important for better performance. This paper
shall elaborate on critically evaluating the contemporary issues in relation to the SMEs and
explore the strategic issues that take place in the management of the SME. With the same, it
shall also highlight and explore the alternative routes for business development in these firms
and would investigate and evaluate the different business development methods in these
companies. Furthermore, the paper shall also shed light on the financial aspects of the
business expansions in SMES.
2. Discussion
2.1. Analysis of the interview of an entrepreneur who runs an SME.
For assessing the nature of entrepreneurship behind a small venture and for getting an
idea of the start-up processes, an interview of Sheldon Edwards was taken. He is the co-
founder of HD Cutz, London. He is a Jamaican Barber and is widely known as HD Cutz.
Edwards never took any training to cut hairs and is a self-taught barber and is cutting the hair
in London since her moved to UK with his mother and brother from Jamaica in the year
1998. As a small enterprise, it was marginally successful and productive. He has funded and
run the business assuming all the rewards and the risks of the venture. In order to run the
business successfully, he first developed a clear idea of what a success for the business would