An Analysis of Small Business Lending and Financing
Added on 2020-07-22
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SMALL BUSINESSENTERPRISE
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1A.Profile of selected business organization.................................................................................1B. Comparing the performance with competitor.........................................................................3TASK 2............................................................................................................................................4A. Appropriate actions to overcome weaknesses.........................................................................4B. Analyze ways to strengthen and maintain current performance.............................................4C. Suggesting new areas to expand business with justification...................................................5TASK 3............................................................................................................................................6A. Assessing existing business objectives and plans...................................................................6B. Review business plans and suggest new areas for changes.....................................................7C. Preparation of an action plan to implement the changes.........................................................8TASK 4............................................................................................................................................9A. Impact of proposed changes on business and their personnel.................................................9B. Plan for managing changes......................................................................................................9C. Analyzing business performance for past two years.............................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONEuropean authorities defined small and medium sized enterprise (SME) as any businesswho run operations through an employee base of 250 or less and annual turnover or annualbalance sheet value below 50 and 43 million euro. Federation of Economic Bureau Governmentreported that there are 5.5 million SMEs operating in UK and employ 15.7 million people.Government also offersan opportunity, aspiration and motivation to promote their uniquebusiness idea and start business. Department of Business, Innovation and Skills is accountable tomake enterprise policies for SMEs to manage their activities. The current research report targetedat examining and managing SMEs activities through change management and other businessstrategies for the successful operations. TASK 1A.Profile of selected business organization Name of the business: CocofinaLtd Ownership structure: It is a private limited company which is owned by the members whoinvest their money in the business (Spence, Schmidpeter and Habisch, 2003). ManishabenSolanki and Jacob Thundil are playing the role of director and regulate, administer and controlday-to-day activities. History/Background: The idea of establishing a business that will provide only coconut baseditems was of Jacob Thundil. It was greatly inspired by his childhood in a renowned region ofIndia, Kerala that is famous for coconut.It was established in 2005 by a limited product, moreimportantly, coconut water. However, over the period, with the growth, Thundil launched newitem also such as nuts and others and now, it operates 3000 health focused outlets. Activities: Its key operational activities include delivering coconut-based food and drinks to theusers. Its product portfolio includes coconut water, baking ingredients, snacks and others. Business Location: Field End Road, Ruislip, EnglandStrengths and weaknesses:Strengths: 1
100% nature and pure product: According to nutritional information, Cocofina’s productincludes 0 fat, 5.2 gm carbohydrate, protein 0.3 gm and sugars 4.7 gm. The products arehighly fresh and healthy for this, it also won many awards (Cocofina Ltd, 2017). Its products are offered all around the world in 3000 outlets including Fenwick, Barrett,Harrods, Whole Food Markets, Holland and other cities all over world. Strong revenue base, recently, in June, it reported revenue 3.6 dollar million throughsales. Expanded product portfolio: The business was started just with coconut water and now, itoffers pancakes, brownie, mousse, ice creams, maroon, snacks, coconut oil and otheritems also (Cocofina Ltd, 2017).. Weaknesses:It only offers coconut-based products, thus, its product portfolio is limited, however, in market, many consumers may do not like this and prefer alternative healthy items. High prices: Many consumers opined that prices charged by Cocofina is high, thus, premium prices are charged which does not provide great value to the users. Lack of loyalty: Consumers are not loyal towards the brand and availability of substitute products at cheaper prices affect its sales also.2
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