Challenges Facing SMEs: A Study on Eggfree Cakebox - LSST Module 2021

This report analyzes the challenges confronting Small and Medium Enterprises (SMEs) using Eggfree Cakebox, a UK-based cake company, as a case study. Founded in 2008, Eggfree Cakebox aimed to provide fresh cream celebration cakes without eggs, catering to a specific market niche. The report identifies key challenges such as embracing technology, securing finance, attracting new customers, managing IT infrastructure, and adapting to post-Brexit realities. It highlights the company's strategies for competitive advantage, including high-quality ingredients, customer service, and a unique product offering. The findings emphasize the importance of proactive strategies, technology adoption, and customer-centric approaches for SMEs to thrive in a competitive market. The report concludes by underscoring the need for SMEs to address identified challenges effectively to ensure sustainable growth and success.

Managing Small and Medium
Sized Enterprises

INTRODUCTION
A small and medium sized organisation is often described as an impartial firm that
provides work for few personnel. SMEs can make a contribution to the overall increase of the
economic device of a rustic to an oversized level. This is often because they create many new
hobby chances for the humans and additionally sell modernization. Along with this, SMEs
moreover increase the rivalry within the marketplace and sell increase within the marketplace
(Dey and et. al., 2020). The respective record is predicated at the employer Eggfree Cakebox, a
SME that began its mercantile agency inside the year 2008 without low keep. The challenge of
the employer is to produce the clients within the UK marketplace with glowing cream birthday
celebration cakes which can be based totally totally on a spanking new conception without the
utilization of eggs additionally to an on-call for provider. While doing so, the commercial
enterprise does no longer concession at the flavour further to consistency of its cakes. The
distinct desserts which could be provided by the organization are made to a
immoderate surrender additionally to are light and fluffy. The aim that the cakes provided
through manner of Eggfree Cakebox is that several circles of relatives contributors of the
founder’s family examine a strict lacto-vegetarian weight loss plan. The record explains unique
worrying conditions which may be confronted by means of way of SMEs further because
the character of the entrepreneur at the rear of the respective company. The research way opted
for this studies is specially focused on secondary information series. Therefore, numerous books,
journals similarly as reviews are stated as the way to gather correct information for the
document.
Aim
“To examine diverse confronts facing Small and Medium Enterprises. A study on
Eggfree Cakebox.”
Objectives
 To examine diverse issues facing small and Medium Enterprises or SMEs.
 To study diverse measures that can be considered in order to get over the confronts faced
by SMEs.
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Challenges facing SMES
The UK’s smaller groups seem to price variety for cutting-edge generation as a difficult
and rapid cost; however they may be increasingly cozy with generation and recognize what they
need (Hadj, 2020). There is huge sort of traumatic conditions confronted thru SMEs length of
businesses such as Eggfree Cakebox. The explanation of a number of issues are described as:
Embracing generation- Even as most commerce have welcomed technical improvements
of the precedent few a quantity of years, there are others who've concealed their beginning inside
the sand. Machinery plays a main characteristic in commerce employer and there in the inside
the interim are software program application and apps available to create subjects a bargain an
excellent buy less tough and lots less multifaceted for commercial enterprise corporation owners
and to develop a number of the disturbing conditions they will frequently face. Some of these
embody accounting software programs, marketing and marketing and advertising device to help
allocate monthly newsletters and venture administrates machine.
Securing finance- Despite the detail that enterprise organization lending is now some
distance extra to be had than in leading years, reaching contact to economics remains a difficulty.
Several medium and small are grown to be not here through their immoderate road depository,
but it’s significant to memorize the fact that it isn’t the only preference. Substitute’s creditors are
there to help and are to be had without the usual “tick issue” mentality, due to this they may
proffer supple and customized financial support solutions. Whether a commercial organisation
organization is looking for a brief-time period organisation loan or greater flexible
acknowledgment score with a extended time, there’s a large style of savings choices to be had.
Attracting new clients- That can be a trouble that such a spread of organisations’ conflict
with, and it consists of the huge gamers too. However, huge businesses with historic
achievement within the all over again of them generally discover it a good buy lots less
complicated to attract new customers as they have got a robust emblem assisting them. Smart
branding in all equality crucial and with it arrives more recognition, prolonged industrial
business commercial enterprise company charge and the functionality to generate new customers
at a faster tempo (Luo, Zhang and Zhou, 2018). Attracting new clients even as preserving a first-
rate issuer with current clients can be difficult, but it’s crucial in the event that they require to
gather a rivalry marketplace. Pro-activity is likewise crucial for any small organization
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corporation company. This method making mobile-cell phone calls, joining appropriate
networking tasks and getting to know the numerous marketing tools that their organization
commerce enterprise has an attendance on.
Rather than panic-looking for in an effort to hold up with trends, Britain’s organizations
are measuring their goals and developing a funding carefully, normal with responders. Consumer
issuer and elasticity live critical to small and medium size company without the period or coins
to dissipate on massive-brush financial solutions (De and et. Al., 2020). generally, UK small and
medium size companies are reliable to their banking companies, with actually 11pc announcing
that they are looking to circulate their commercial enterprise banking to some special corporation
in 2019. Exploiting honestly that has become significantly much less complicated in present day
years and contemporary account switches are especially honest, but the truth that counting on
aspects which include corporation period, loans and debts.
An unyielding IT company impacts numerous SMEs, some don't have any IT group at
all, that would have terrible implications for any organization. Not being able to keep structures
updated, community downtime and attendant debacles to call some can achieve destruction on a
commerce company; at the same time as structures are down they're losing capability Business
Corporation. A clean and fee-effective manner to this could be subcontracting their IT so it can
be inhibited 24/7 thru a group of experts. resolutions that encompass transferring attendants into
the obscure in choice to on-net internet site will remedy place, useful aid and maximum of all,
will allow them to positioned their ft up and loosen up as their IT might be sorted. A
commonplace myth is that making enhancements for his or her systems will charge masses of
cash; this isn't the case. The rate of buying a product, mutually with the fee of its improves,
defence, and information subordinate yet again-up is cancelled at the same time as transferring to
the obscure. They absolutely reimburse monthly price counting on the amount of garage desired
with the capability to loosen up whilst their venture dreams it (Katz‐Gerro and López Sintas,
2019). Consider their telephony systems; conventional ISDN systems can charge a destiny in
restoration and line condominium. By shifting to a VoIP tool, they may be discount as a smallest
amount 30% on call charges and acquiring a much more green and feature-wealthy tool.
Number of clients have expert organized hours in a consumer support call line for a
person to help with a telecoms trouble, to then be recommended to “turn it on and stale yet
again”. It is a huge assignment on the equal time as the use of their IT is company Business
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Corporation crucial, in particular whilst they're capable of no longer have the right statistics to
rectify the issues. Downtime prices they recognition and their business corporation. To have the
correct level of help is critical for small medium size company, someone to based on and guide
them at the equal time as searching for to create further upgrades. This is one of the centre
charges that Intercity changed into constructed. In this speedy-paced international, it's miles
essential that allows you to adjust to revolutionize. With employees more and more strolling on
the street or at home, to have the appropriate communications in area is extra vital than ever to
cope with a liquefied group of workers (Bruhn, Karlan and Schoar, 2018). By having the right
transportation varied with powerful teamwork gadget, their personnel can obtain appropriate of
get right of get entrance to programs and files firmly out of the working environment. This
moreover allows the employees to artwork firmly, correctly, and amenably from anywhere at any
time.
It is vital to choose out the ones demanding conditions in order that they may be
addressed efficaciously with the useful resource of manner of increase suitable strategies. The
UK has now left the EU with a contract. Reasonably several agencies are concerned over what
this is going to mean going earlier. It remains to be confirmed what a prospect migration tool
will appear to be and, with loose motion of mother and father to surrender, a few corporations
also can in addition find out extended problem in sourcing labour. Whereas they count on further
affirmation, employers want to support EU nationals currently jogging for them to apply for
established fame in advance than the remaining date of 30 June 2021 (Dey and et. Al., 2020).
However, it is essential to remember that employer cannot strain them to be relevant As topics
arise, the modern-day removal conformity has installation a 'transitional period to provide the
United Kingdom and the EU greater time to exercise a protracted lasting deal on their destiny
relationship, on the way to ultimate until 31 December 2020. If a divide trade and promoting
agreement cannot be reaching on this time, a no-deal Brexit can be yet again on a counter. It is
consequently moreover vital that agencies embraced this in thoughts going in advance.
Findings
The particular small and medium size company, Eggfree Cake subject have become
based totally completely inside the three hundred and sixty five days 2008 thru PardipDass as a
small shop. The organization offers immoderate-give up, fluffy similarly to slight cakes which
can be sincerely egg unfastened. This is because a number of the founder’s own family
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contributors take a look at a strict lacto-vegetarian eating regimen and moreover, the employer
agency desired to offer the United Kingdom with scrumptious sparkling cream Celebration
Cakes (Hadj, 2020). The begin-up offers a big type of super birthday party cakes which are made
from sparkling cream. The business enterprise also gives cakes, milk barfi in addition to
cheesecakes which might be egg unfastened. The begin-up system for the respective company
includes review, finishing a sophisticated software shape as well as evaluation, concentrating
cake box head office appearance meeting etc. The commercial enterprise idea for the individual
employer is that it is centred on imparting the clients high satisfactory party desserts with the
intention to provide them with a stepped forward enjoy (Luo, Zhang and Zhou, 2018). All of the
goods which might be supplied by the agency are based on the idea that they're egg unfastened.
And finest fine elements are utilized by the pastry chefs which will make certain that there is no
compromise in the taste in addition to high-quality. With a new enterprise conception of
initiating egg unfastened celebrations cakes to the clients, the particular employer have been
capable of entice a big number of consumers. Not best this; it has additionally increased an
aggressive benefit towards rivals in the enterprise.
As of now, the organization has extra than 154 branches across the UK. Another purpose
why the company has been capable of benefit an aggressive benefit within the enterprise is that
the chefs’ simplest use excessive fine components and highest concern is occupied inside the
manufacturing of all of the cakes. The enterprise promises exceptional consumer facility and
desserts that are not simplest tasty, but stunning. All of the commodities are 100% egg free. The
creators of Eggfree Cake Box fulfil with a authoritarian vegetarian food regimen, and this is how
they obtained here up with concept for the business (Dey and et. al., 2019). Whereas all the
corporation's desserts are eggfree, the consumers without a doubt can’t taste the distinction,
which means that it's far a comfy choice for a celebration wherein they're no longer positive if all
individuals have any egg allergies.
CONCLUSIONS
It has been summarised from the described content that to function a enterprise specially
quarter, small scale groups going through numerous problems which are associated with funding,
generation and getting interest of embattled individuals. In order to contract with those varieties
of issues, they are able to devise powerful strategies and techniques with a purpose to support in
carrying out their set commerce goal and goals within a confined time body.
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Recommendations
Form the explained data, it is been analysed that there are numerous problems confronted
via SMEs. In context of this, it has been counselled that to address difficulty of era, they may be
able to use progressive and up to date software program application and unique IT gear which
help in jogging their enterprise in a success way. In order to getting attention customers, they're
capable of utilize social media endorsement and provide precedence to their goals and insights.
By utilising economic equipment and building fee variety, they may administrate and comfy
their funding as nicely.
Reflection
During the time of acting this task, I learnt numerous matters in addition to gin expertise
about SMEs which incorporates how they feature, problem they face and the plans which they
utilize to contract with them. Additionally, I additionally make improvement in my study and
control skills via gathering information inside constrained term. I additionally faced some
troubles connected to need of time and mistaken use of gadgets to accumulate records.
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REFERENCES
Books & Journals
Online
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