Managing and Running a Small Business: Considerations, CRM, Transnational Development, Cash Flow and Financial Statements

Managing and
Running a Small
Business

Table of Contents
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
P1. Main considerations a small business needs to address when planning and allocating their
business resources..................................................................................................................4
TASK 2............................................................................................................................................5
P2. Different processes of customer relationship management for a small business or social
enterprise................................................................................................................................5
P3. How a small enterprise can develop transnationally?......................................................7
TASK 3............................................................................................................................................9
P4. Produce an annual itemised monthly cash flow forecast showing fixed and variable costs.
................................................................................................................................................9
P5. Break even analysis could be applied to a business situation........................................10
P6. Interpret main financial statements for the organisation in relation to how they contribute
to the successful management of an organisation................................................................10
........................................................................................................................................................11
TASK 4..........................................................................................................................................12
P7. Key legislations and regulations that have implications on SME..................................12
REFERNCES:................................................................................................................................14
Books and Journals:..............................................................................................................14

INTRODUCTION
An entrepreneur possesses a significant role in the development of society and it can be
considered as a national asset as well. For any country, entrepreneurs can be a key driver for the
growth and development. The entrepreneur can be a single person who develops a new business
with creative and innovative ideas, they are getting all rewards while bearing all uncertainties
and risks. Entrepreneur can be a manager, organiser or assume the risk for the business. An
entrepreneurship signifies as the dynamic process in which new and innovative things are created
for the business. Small business organisation provides employment opportunities and creative
ideas to enhance the economy. Small medium enterprise or SME needs high grade information
along with internet solution for their enterprise. According to European Union, the headcount
number of SME is less than 50 and more than 250 (Álvarez Jaramillo, Zartha Sossa and Orozco
Mendoza, 2019). The following report will consider Yuzu which is a SME in United Kingdom.
Small business plans allocate assets and resources to achieve goals which will be shown in the
report. The procedure of customer relationship management will also determine in this study.
Budget, break even analysis, cash flow statement are utilised by organisation to identify their
financial statement which will also explain in the project. Some legislations and regulations for
SME will also be introduced in the report.
TASK 1
P1. Main considerations a small business needs to address when planning and allocating their
business resources.
A proper planning is required to accomplish the objectives of small business in allocating
their business resources and managing their business activities. Small organisations are having
limited resources and if they are not allocating their resources in a proper way then there may be
a delay in the work. So, it is essential to manage things properly to accomplish the objectives and
generate profit by making effective planning for the business (Abdullah, 2019). In case of Yuzu,
the following are some main considerations that needs to be taken by the organisation while
allocating their resources:
 Determine the project range: Before finishing any activity or project the planner needs
to consider the small targets for example documentation of project boundaries that what