Small Business Enterprises: SYFT ONLINE Ltd

SMALL BUSINESS
ENTERPRISE

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Profile of business from the Dragon Den series...............................................................3
1.2 Compare the performance of business with other business in same or similar industry..5
TASK 2............................................................................................................................................7
2.1 Recommend with justification, appropriate actions to overcome the weaknesses...........7
2.2 Analyse different ways by which the existing performance could be maintained and
strengthened............................................................................................................................8
2.3 Recommend new areas in which the business could expand...........................................8
TASK 3............................................................................................................................................9
3.1 Assessment on existing business objectives and plans.....................................................9
3.2 Review business plans and suggest areas where changes can be made.........................10
c) Prepare an action plan to implement the changes............................................................11
TASK 4..........................................................................................................................................12
a. The impact the proposed changes will have in the business and its personnel................12
b. The plan for how the change business..............................................................................13
c. The improvements in the performance of the business over the past two years using graph.
..............................................................................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Small business enterprises are businesses which maintain assets, number of hired
employees and revenues under a specific threshold. In UK, a small sized company is an
organisation which employs less than 50 workers and have annual turnover less than 6 million
pounds. These businesses are strong in innovating new concepts and faces excessive competition
for their survival. This assignment is based on SYFT ONLINE Ltd. which builds hassle free
working platform for jobseekers and employees, headquartered in London, UK. At present, less
than 30 employees are working under SYFT ONLINE and annual turnover of company is approx
2 million pounds (Bridge and O'Neill, 2012). This report involves profile of business from
dragon den series and comparison of company with other similar sized business. Ways to
strengthen company and eliminate weakness are mentioned. Also business objectives of
company along with actions to implement changes is specified. At last, ways to improve
performance of company are discussed along with other counter measures.
TASK 1
1.1 Profile of business from the Dragon Den series
Business profile is an overview of business and business plan which is formulated by an
organisation so that customers can acknowledge the services provided by them in a quickly
manner. It involves objectives, value and missions of a company. A well developed business
profile will provide a great opportunity to SYFT ONLINE to differentiate itself from other rival
companies.
Business profile of SYFT ONLINE
Factors Description
Name of the business SYFT ONLINE
Owner structure It is a private limited company which is run and managed by CEO
Jack Beaman along with other three officers. COO of company is
Novo Abakare and two directors of company are Johan Erik Brenner
and James Angelini.
History of company SYFT ONLINE was founded in 2015 by Jack Beaman. CEO of the
company felt that industry associated with temporary recruitment is

inefficient and outdated. Beaman partnered with Novo Abakare and
provide temporary recruitments to jobseekers and employees. After
some time Brenner and Angelini Joined hands with existing partners
and start investing money as venture capitalist.
Activities and
operations
Company has altered recruitment sector by implementing
technological innovation. Along with this, company provides
convenient and effective service to job seekers. SYFT ONLINE
conduct their business operations mainly in industrial, event and
hospitality sectors. Company aids other organisations to find suitable
hard working and motivated employees which are capable to perform
business activities in desired manner.
Business location Company has four different locations within UK. Jack Beaman
controls company from 8 Sussex place, London, England, W2 2TP.
Novo Abakare manages operations of company form 88 Kingsway,
London, WC2B 6AA. Other correspondent addresses are 53, park
street, 3rd floor, London, WC2B 5PT and 3 Cadogan Gate, London,
SW1X OAS where Brenner and Angelini manages business activities
(Burns, 2016).
Strengths  Company has a wider reach and different channels to gain
exposure from huge job seekers and organisations.
 SYFT ONLINE has a better reporting process. Company
obtain insights and key data which helps in monitoring the
process of recruitment campaigns.
 Company use technology advanced software to manage and
measure recruitment activities in an appropriate manner, due
to this customers are highly satisfies.
Weaknesses  Company faces technology issues as application send by
individuals operate slowly during submission process.
 Loss of information due to technological errors.

 Website is not properly maintained. Sometimes, candidates
who visit profiles to gain information are unable to get exact
detail which is required by them.
1.2 Compare the performance of business with other business in same or similar industry
SYFT ONLINE Ltd is a new and small start- up which came into existence in 2015 by
Jack Beaman. At present, Jack is operating company as CEO and perform business operations
associated with technology along with director Novo Abakare. To measure and evaluate the
position within marketplace, it is vital for companies to compare their performance with rival
firms which are providing same kinds of service. In this respect SYFT ONLINE is comparing
their performance with Wiser which is also an online recruitment company founded in 2014.
Wiser: It is a creative and online recruitment agency which aims to provide expected job
and salaries to young and skilled people. Company provides a full service of on-boarding
solutions, talent acquisitions and employer branding and temporary recruitments (Carter and et.
al., 2015). This company has partnered with Worldpay, Sky Betting, Expedia, gaming and Just
eat. This organisation aims to change relation between employers and people by creating an
appropriate platform.
Comparison between SYFT ONLINE and Wiser
Comparison SYFT ONLINE Wiser
Business operations Company charges no upfront fees
to book temporary. They charge
national insurance contribution
and 15% of staff pay. This means
customer is able to save 55% on
agency fees if compared with
other traditional agencies. On
boarding team of SYFT verify
legal, experience and skills of
jobseekers and in accordance with
their preference job shifts are
offered to them.
Business offers a genuine
commission structure to the
recruiters. Under services provided
by company, workers needs to give
2.5 times of quarterly salary which
hits a threshold of 20%. Approx
95% of the staff recruited through
Wiser is satisfied by the salary and
facilities they are receiving. At
present 50 employees are working
under the firm.

Marketing Company is targeting students and
graduates who are interested in
working part time or temporary
wants to place somewhere. To
reach them, company is analysing
market appropriately and
formulating strategies like
promotion through website,
internet and social media.
To promote and advertise employer
brand, Wiser is using tactics like
data reporting, social media, on-
campus attraction and media
buying. Company is joining hands
with employer and finds them the
suitable candidate by analysing the
profiles of individuals which are
interested in that particular job.
Revenues SYFT ONLINE is a new start up
which provides recruitments to
job seekers and employees to
needed organisation. Due to less
presence in market, company is
not earning high revenues at
manage to earn less than 2 million
pounds annually.
Company has managed to sustain a
visible presence within market. At
present, this recruitment company
is working for big corporations like
Just Eat and Expedia. But company
is still operating at small scale and
manages to earn revenue around 3
Million pounds per year.
Human resource As company is performing at
small scale, resources used by
company are less in number. In
case of human resources, at
present company is employing
less than 30 employees. But
within some time, company is
planning to expand their
workforce around 50 employees.
At present company is employing
around 50 staff members. Each
employee has a specific interest and
carry out work in accordance with
that only. All the human resources
of company are highly satisfied
with the salaries and work which
they performed. Appraisals are
given to hard working employees.
Technology Companies understand the fact
that, the main focus of big and
medium sized organisation is on
talent not on the candidates. To
Wiser have brought a proactive
sourcing and uses Candidate
relationship management software
to build a robust relation with

prioritize talented individuals,
company is using Talent
relationship management
software. By this, suitable
candidates are founded which are
considered as highest quality hires
by 40% of big companies and
MNC's. Along with this, company
is using Artificial intelligence to
perform its operations. In this,
recruiter helps in automating the
search process for candidate.
candidates. In this, individuals are
given preference on the basis of
skills and academic degrees they
have earned. Also, company is
using applicant tracking system.
This records documents of
employees along with their
recruitment history (Duberley and
Carrigan, 2013).
TASK 2
2.1 Recommend with justification, appropriate actions to overcome the weaknesses
SYFT ONLINE Ltd is a small business enterprise which came into force in 2015.
Company is performing business activities and operations related with online recruitment of job
seekers and employees. As company is new in market and struggling hard to maintain a visible
presence in their industry, it is vital for SYFT ONLINE to eliminate their weaknesses and
demerits. This will allow the company to represent themselves in a better way within market.
Here are mentioned some recommendations which company can adopt to overcome their
weaknesses.
 Major issue which is faced by company is loss of information and data due to
technological errors. It is recommended to the business owner of SYFT ONLINE that
company needs to replace their existing software & applications with modern and
advanced software such as Applicant tracking system which records all the important
document and information related with candidate. Also, history of previous jobs is also
recorded in this software. This will resolve problems like sudden loss of data or loss of
previous recorded data.
 Sometimes submission process of applications became slow due to which delay in work
takes place. To overcome this barrier, it is recommended to the company to update their

software and applications on a regular basis. Due to this, new features will add
automatically and problems like hanging of information and data at the time of
processing will reduce (Drucker, 2012).
 Website operator of SYFT ONLINE is recommended to update website on a daily basis
to incorporate new information and news related with jobs, recruiters, employees and
candidates. This will help the company in increasing their revenues and profits.
2.2 Analyse different ways by which the existing performance could be maintained and
strengthened
There are several ways by which SYFT ONLINE can strength and maintain their
business presence with marketplace. These are mentioned below:
 The Best way by which company can improve their performance and strength their
business performance is through increased employees engagement. Employees working
in SYFT ONLINE needs to understand and build a strong relation with each other. By
this they can improve their working potential.
 Company can maintain their working performance by leveraging high impact leadership
practices. By this, targets and progress of company will take place as departmental &
organisational performance will improve.
 By providing training and guidance to employees regarding the business activities and
operations, SYFT ONLINE can improve their work performance and revenues in an
effective manner.
2.3 Recommend new areas in which the business could expand
At present company is offering their services in outsourcing and staffing sector.
Company is considered as fastest growing SME in UK but as company is new, there are large
number of people which are not familiar with the services offered by the company. Some
organisations from other industries wants to hire employees but company is not offering their
services in those sectors. To expand their presence widely in UK, it is recommended that
company can expand their presence in other sectors and industries such as education, banking
and finance, securities.
 In education sector, there is always need of talented and skilled teachers who can
efficiently teach students about the topics and subjects covering entire syllabus. In this,
company can collect information of all those candidates which are interested in teaching

and desired candidate can be interviewed by employer. This will increase the work
opportunity for SYFT technology (Goss, 2015).
 Candidates which have applied for accountant and other finance positions in an
organisation are capable to conduct business operations associated with banking and
finance. It is recommended to company that they can join hands with financial
institutions and private banks. In case, vacancies are there desired candidate choose by
SYFT ONLINE can join them as an employee on temporary placement. This will
increase their recruits employees and company will be able to expand its presence within
market.
TASK 3
3.1 Assessment on existing business objectives and plans
Business plan: It is a written document which includes business objectives and the methods to
achieve these objectives.
Executive summary: SYFT ONLINE Ltd is a recruitment and staffing agency based in
East London, UK which assists other organisation in providing efficient and hard-working
human resources along with satisfying the needs of job seekers.
Market analysis: Company is targeting young graduates and jobseekers which are
interested in temporary placements. Also, company is trying to collaborate with big organisations
which are in need to hire efficient and skilled employees.
Organisational structure: Company structure of SYFT ONLINE is flat. As there are
less employees, equal consideration is given to the views and opinions of all staff members.
Objectives of company: Objective of the company is to provide suitable candidates to
organisations which is facing deficiency of human resources. Company aims to provide
opportunities to individuals and job seekers which are not capable of finding a decent job.
Objectives and plans of company is mentioned beneath:
 Objective of Company is to find suitable candidates for other organisations by
identifying their shortfalls, skill gaps and development needs.
 SYFT ONLINE aims to sustain an impactful presence within market by aligning best
people with desired jobs.

Marketing plan of company: As company is a new start-up and their market presence is
not wide. Company plans to expand revenue by 20% in upcoming 10 months by implementing
technology advanced software with already existing applications (Obeng and Blundel, 2015).
 SFYT ONLINE Ltd plans to deposit curriculum vitae, resume and other documents of
large number of candidates through websites, mobile application and other sources.
Also, company is planning to collaborate with different organisations within UK.
This will benefit the collaborated organisation in finding desired candidates as SYFT
ONLINE already posses detailed profile information of interested candidates. This
will helps in hiring right person for right job (Horakova and Skalska, 2013).
 Company is planning to target young graduates and other individuals which are
interested in temporary placements.
These plans and objectives will benefit SYFT ONLINE in achieving their targets and
growth rates. These plans acts as a guidance tool which helps them in adopting appropriate and
quick decisions. Objectives motivates the company to achieve their goals and targets in an
organised way.
3.2 Review business plans and suggest areas where changes can be made
Reviewing business plans and objectives on a regular basis is the best way to increase
revenue and profit margins of a company. At the time of plan review all the important and
necessary changes are carried out by managers in an organisation. These changes helps a
company in achieving desired outcomes and objectives in specified time. Due to this profitability
and reputation of company also enhances. Business plans of SYFT online are reviewed below
along with the suggestions which will helps them in sustaining a firm presence in market:
 SYFT ONLINE is planning to expand revenue by 20% within 10 months. As technology
is becoming advanced and expectations of individuals are increasing. There is a big scope
for recruitment companies to increase their sales and revenues by satisfying the needs and
demands of other organisations and Jobseekers. To satisfy their needs in an appropriate
manner, company needs to use advanced software and processes by which collecting
information & other details in minimum time can be achieved. It is suggested to SYFT
ONLINE Ltd to incorporate updated software within their information processing
Applications by which carrying out complex and long tasks will become easy (Lambert
and Davidson, 2013). This will benefit the firm in achieving their desired growth in

revenue within next few months which is 20% increment. To further enhance their
revenue growth, Company can advertise and promote their services through different
means such as internet, social and digital media, newspaper etc. This will helps SYFT
ONLINE to expand their revenue by 25% within previously specified time.
 Company is planning to join hands with other online sites and applications. So that large
number of people can acknowledged their services and contact them to find desirable
jobs. Also, company is trying to collaborate with other companies which needs human
resources. It is suggested to SYFT online to collaborate and perform their business
activities for big corporations where thousands of employees work. In these kind of
organisations, some vacancies is always present. This will helps SYFT online to achieve
their business objectives by providing right people for right job.
 Company is planning to target young graduates and other individuals which wants to
pursue temporary placements to cater their needs and demands unless they found their
desired and permanent job. It is suggested to SYFT ONLINE to promote about their
services through newspapers, magazines and social media. By this, large number of
young and enthusiastic people will get to know about their services and get registered
under SYFT online (Marlow and McAdam, 2013).
3.3 Prepare an action plan to implement the changes
Action plan is considered as an document which involves various steps that are helpful in
achieving organisational goals and objectives. In relation to SYFT online, it can be said that
formulation of an appropriate action plan will help this company in executing required changes
in effective manner. Every action plan includes various steps which guides team members step
wise to execute changes in the organisation in order to attain long term benefits. Steps of action
plan for implementing changes are described as below:
At the first stage, it is essential for organisation to identify the changes which are
required to be implemented in business organisation. As per evaluation, it has been analysed that
this SYFT online is required to adopt updated software in their information processing
application. Another changes which have been identified for this company includes
collaboration with the online sites in order to reach more candidates which can be further finalise
according to their skills and requirement. This will be helpful in gathering information of
candidates in minimum time period.

The next step of action plan emphasises on formulating an effective budget for the
changes in order to analyse how much costing will be required by the SYFT online to execute
specified changes.
Next step of action plan is to execute the plan according to the planning within the
desired budget. It is important for the organisation to implement each and every step in
effectively for improving existing working practices of company.
The last step of this action plan is to monitor and control activities which have been
followed in every step. It can be said that these activities are required to be monitored according
to the situations so that there can be modifications made in the plans.
TASK 4
4.1 The impact the proposed changes will have in the business and its personnel.
Increased Revenue- With increased revenue by 20 percent, SYFT ONLINE will be able
to expand its operations. For example, the respective company will be able to expand its business
to other countries which will help in providing services to more customers and ultimately
increase the profitability of the respective company (Schaper and et.al., 2014). The respective
company can also expand its business by providing personality development courses or classes
which will help the customers to get placed in good companies more easily. This will also
improve the reputation of the company in the market.
Collaboration with other websites- Similarly, by joining hands with other similar sites
and applications, there will be more exposure to the company. It will help in building brand
reputation for SYFT ONLINE and help in attaining more online traffic to their website. This will
further help in improving the contacts modes and improve the quality of services of the
respective organisation. Addition to this, these websites can also provide a wider scope of
expansion and expand the business to new market which will help in increasing the revenue
share for the company. It will also help in learning new methods of attracting new customers
which SYFT ONLINE can apply to increase the number of sales growth for the respective
company.
Newly graduates- As SYFT ONLINE is planning to target newly graduates and other
individuals seeking for temporary jobs, this will help in providing a new platform for the
company and help in serving the individuals which are not experienced in working. Similarly, it

will help in providing temporary solutions to the customers which provides a future scope of
business fr long term job search by these individuals (Sharma, Chrisman and Gersick, 2012).
This will also help in providing job opportunities to the new generation and help in good relation
building with big companies.
4.2 The plan for how the change business.
SYFT ONLINE will be implementing different strategies which will help in managing
the changes. The respective organization will be helping more customers by placing them in
good companies which will help in increasing the profitability of the company. Similarly, SYFT
ONLINE is planning to place 200 candidates in 10 months which will help in increasing the
profitability of the respective company by 20%. Similar to this, SYFT ONLINE can manage to
place the newly graduates by conducting Campus recruitments which will help in reaching out to
more candidates (Teasdale, 2012). Addition to this, by campus placements, SYFT ONLINE can
take first round screening which can help in managing the quality of the candidate and can help
in providing the most suitable job according to the qualifications and skills of the member. This
style will also help in collecting data of newly graduates which are not available in the campus
drive and can be contacted afterwards. Similar to this, these are various methods by which SYFT
ONLINE can join hands with other websites such as social media tool. There are various social
media websites which can be used to communicate with the customers. As social media is widely
used across the globe, it is a perfect platform to establish business. Thus, SYFT ONLINE can
expand its business through Facebook, twitter, etc. by managing its official page which will help
in promoting the brand name of the services and help in easing out the communication with
customers across the globe.
Addition to this, SYFT ONLINE can also opt for forming an account on Linkedin
website as it is one of the most famous portal for individuals looking for job opportunities.
Hence, it can post adds about recent job opening in different companies and also look in profiles
of individuals that are looking for job opportunities (Veblen, 2017). Addition to this, the
respective organisation can also collab with other small scale online recruiting companies which
will help in increasing the resources and help in providing more improved services.
4.3 The improvements in the performance of the business over the past two years using graph.
Performance table of SYFT ONLINE in terms of profit is mentioned below:

Year Performance (ratio) In lakhs
2016 20.00%= 30
2017 35.00%=45
2018 45.00%=62
From the above data, it can be clearly seen that the performance of the SYFT ONLINE
have been increasing with every year. As it shows a growth of 20% in the year of 2016.
However, there has been an increment by 15 percent from 2016-2017. Similarly, a growth of
10% can be seen in the time frame of last one year. Thus, it can be assured that the efforts of the
company to improve its performance are sustainable (Wang and Altinay, 2012). Additionally,
SYFT ONLINE have been implementing various strategies in order to motivate the employees to
work hard. In order to do that, the management of the respective company have been offering
various financial raises and other benefits to the employees which motivates them to work up to
their full potential. Addition to this, various training programs are introduced in order to polish
the skills and capabilities of the employees which improves the performance of the whole
company. Hence, various technology enhancements can also be introduced which can help the
employees to work more efficiently such as advanced softwares, telecommunication modes,
internet, etc. Similarly, the managers and leaders can motivate and guide the employees which
will help in motivating the employees to work to their full potential and help in improving the
growth rate of performance of SYFT ONLINE.
1 2 3
0
10
20
30
40
50
60
70
30
45
62
Column B
Linear (Column B)

CONCLUSION
From the above mentioned report, it has been analysed that SMEs plays a vital role in
building economy in UK. To gain support from venture capitalist and other financial institutions
it is important for firm to prepare an effective business profile. A company needs to overcome
their weaknesses and strengthen their business preforming capabilities. Also to expand their
presence a small business needs to expand their service in new areas also. Impact of these
changes can be positive or negative, it depends upon the capability of employees how they
respond and manage changing situations.

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Online
Wiser. 2018. [Online]. Available through <https://www.b.co.uk/company-profile/?wiser-
103402>.

Syft Online Limited. 2018. [Online]. Available through <https://syftapp.com/about-syft/>.