Entrepreneurship Report: Analyzing the UK Clothing Industry

This report presents a gap analysis of the UK clothing industry, highlighting the potential of e-tailoring services. It begins by discussing the importance of data collection for understanding market trends and identifying opportunities. The report analyzes the growth projections of the UK clothing market, including menswear and womenswear, and emphasizes the increasing use of the internet and online services. The data collected supports the potential for e-tailoring, allowing for the efficient provision of services and catering to the needs of a growing online consumer base. The report emphasizes the significance of data interpretation in assessing the current and future state of the market, particularly in a fashion hub like London. The report concludes by summarizing the gap analysis and its implications for the organization's innovative ideas within the e-tailoring sector, supported by data from the market place. References include sources related to innovation and business performance.

Identifying Entrepreneurship
Opportunities

Table of Content
Present Data Needed to Support Gap Analysis
Interpret Data Appropriately to Provide Evidence of Market Potential

Introduction
 This presenting is providing gap analysis of business organization with
specific interpretation of the data collected in the gap analysis process.

Present Data Needed to Support Gap
Analysis
 For a new business idea it is important to gather some relevant data and info as well.
This is because it helps in analyzing current industry condition and whether business will be
successful in future or not. Therefore, for e tailoring start up data was collected of UK clothing
industry. In this many things were evaluated. They are explained below :
 There are some particular data and information which support gap analysis. UK
clothing industry will grow by 16.6% in 5 years. There will be £51.2 billions (Fairlie and Fossen,
2019).
 However, it is found that there will high increase in manufacturing cost of producing
clothes. The men's wear market will grow by 21.2% till 2022 in UK and women’s wear by 5.8%.
Apart from that, it is found that there will be high rise in use of internet- it has been analysed that
the use of internet within people is highly increasing. Now, all useful things are available online
such as groceries, clothes, electronics, etc. this has highly transformed the lives of people
especially working class. Therefore, offering of e tailoring services will allow people to fulfil
their needs. They will get all types of services easily and in less time.

P4 Interpret Data Appropriately to
Provide Evidence of Market Potential
 This is important to collect data to gather better information related to the
market place. This information can help to effectively analyse current and
future situation in the business organization and market place.
 This is important to collect data to gather better information related to the
market place. This information can help to effectively analyse current and
future situation in the business organization and market place. The data
collected by organization can help them to predict the future of the business.
Current status of the organization can be evaluate by the data collected by the
organization from target market. London is major fashion hub of United
Kingdom. So it is important for the organization to effectively evaluate the
current data regarding market place in effective manner. There are various type
of data from market place has been evaluated in report.

Conclusion
This presentation is presenting the gap analysis of market and the
innovative idea that is developed by the organization. also the data collected
in the gap analysis has been interpreted in the report.

REFERENCES
 Exposito, A. and Sanchis-Llopis, J.A., 2018. Innovation and business
performance for Spanish SMEs: New evidence from a multi-dimensional
approach. International Small Business Journal. 36(8). pp.911-931.
 Fairlie, R.W. and Fossen, F.M., 2019. Defining opportunity versus necessity
entrepreneurship: Two components of business creation (No. w26377).
National Bureau of Economic Research.