Detailed Analysis of Managing and Running a Small Business Report

This report provides a comprehensive analysis of managing and running a small business, using SoHo Coffee Company as a case study. It begins with an overview of the main considerations for small businesses when planning and allocating resources to achieve business objectives, followed by an evaluation of customer relationship management processes. The report then explores cash flow forecasting and break-even analysis, interpreting key financial statements, and examining key legislation impacting small businesses. Furthermore, the report delves into how small businesses can develop transnationally, outlining the benefits and drawbacks of various strategies. The report covers business plans, resource allocation, customer relationship management, cash-flow statements, break-even analysis, and relevant employment laws, providing a thorough examination of the challenges and opportunities faced by small businesses.

Managing and
Running a Small
Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Discuss the main considerations of small business or social enterprise needs to address
when planning and allocating resources to achieve business objectives................................1
TASK 2............................................................................................................................................2
P2 Explain and evaluate different processes of customer relationship management for a small
business or social enterprise...................................................................................................2
P3 Explain how small business can develop transnationally and determine benefits and
drawbacks...............................................................................................................................3
TASK 3............................................................................................................................................4
P4 Produce an annual itemised monthly cash flow forecast showing fixed and variable costs
set against income...................................................................................................................4
P5 Explain how break- even analysis.....................................................................................7
P6 Interpret key financial statements for an organisation in relation to how they contribute to
the successful management of the organisation.....................................................................1
TASK 4............................................................................................................................................3
P7 Discuss key legislation and regulations that have implications on small businesses or social
enterprises...............................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
There are various policies which are taking lace in business environment. As small scale
company has to make plans with which they can make some space for themselves. It is essential
to know what can be done to improve financial position of association. Financial position of
company is one of the important concept which help to make stakeholders satisfied and this
provides assistance to raising funds (Ali and Babiker, 2017). There are various problems which
affect business and it is essential to overcome them. Manager plays vital role in managing
business operations. This is report is based on SoHo Coffee Company which is situated in
London and established in 1999. they provide various types of coffee, drinks, etc. there is
discussion about business plans and allocation of resources, Customer relationship management
process, cash-flow statement and break even analysis and lastly laws related to workers.
TASK 1
P1 Discuss the main considerations of small business or social enterprise needs to address when
planning and allocating resources to achieve business objectives
Soho coffee Company is a small coffee located at London that offer wide varieties of
eatable products and various drinking items to various target audiences and such type of small
companies does not have huge amount in order to spend large amount on various resources in
order to develop innovative and luxurious techniques at the time of offering various food items
according to the needs and taste of customers. The main objective of establishing such type of
small cafe is to offer wide variety of products services and capture the whole coffee market by
providing that taste which satisfy needs requirement of customers. Availability of resources or
raw material is not sufficient for the production of goods and services apart from it they need
proper planning in respect of accomplishment of objectives in appropriate time period. Different
points which are consider under it are stated below:-
 Goals, objectives and vision:- It is essential for organisation like SOHO coffee company
to complete objectives, task and operation of business on specified time period. Further
the whole workforce require to complete all the work in such adequate manner on the
basis of which they accomplish their objectives which are required at the time of starting
small business (Bridge and O'Neill, 2012). Training development programmes has been
organised in order to increase the skill capability of employees for better outputs.
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 Professional development:- It is essential for SOHO coffee company to organise various
programmes and events through which they guide all the employees regarding all the
innovative techniques and modern mechanisms which require to adopted at the time of
performing task and operation. Professional skills of employees allow them to
communicate with visitors in effective manner which satisfy overall needs of customers.
 Financial resources:- SOHO coffee company is small based organisation which require
huge financial resources in order to implement the upcoming projects of company.
Further whole management must present their market position in such manner so that
investor attract towards cafe and invest money for further growth of business (Burns,
2016). This will allow company to update their organisation structure and manufacture
such food products and drinks that help in satisfy the needs of customers and strengthen
the financial position in external market.
 Therefore, SOHO coffee company must consider all the above points which allow them
to optimally utilise the resources and increase efficiency and productivity of business.
TASK 2
P2 Explain and evaluate different processes of customer relationship management for a small
business or social enterprise
Customer are the leader of any business. In case of small scale business, their aim is to
earn profits which are associated with satisfaction f society. SoHo Coffee Company deals with
eatable so it is essential to consider taste of society, which helps to know what improvement or
modifications can be done to enhance profits. CRM is the technique through which manager can
know what customer expect and then renovate its plans and policies. Through this technique
there is management of SoHo can interact with customer and know their views. This is the step
which help company to grow and expand its business. There is collection of data through this
CRM.
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(Source: Customer Relationship Management (CRM), 2018)
Align systems with goals and strategy- As per concept of CRM, there is requirement to
analyse goals and targets. This must be considered by managers of SoHo to frame business
policies. It has been evaluated that this is a step which ensures that organisation works in
accordance with the goals of organisation and achieves them in a timely manner.
Consolidate customer data- After analysing goals and targets, managers has to collect
data of consumers. This functions is performed in order to make difference in consumers, so
product and services can be produced accordingly. As the company will provide product and
services as per the needs of customers they will be able to satisfy them on higher extent.
Segment customers- After creating consumer, they are segmented on the basis of
demand, income level, age group, etc. This helps to deliver appropriate variety of Coffee. It will
also help the business to set their target audience.
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Illustration 1: Customer Relationship Management (CRM)

Personalise customer interactions- After segmentation, managers or sales personnel has
to maintain personal interaction with customers. This gives satisfaction to consumer as they are
important part for SoHo. It will also help the manager to get customer feedback that will
help them to provide product with better quality.
Re- evaluate and recalibrate CRM strategy- After personal interaction, managers are
able to know mindset of consumers, then they re- evaluate CRM strategies and apply it to
maintain and improve sales. Which will help them to satisfy customer and also to retain them in
effective manner in the business.
With using above mentioned process it is easy to understand change in consumer
behaviour because of change in market trend. As per change in plans and policies . This is the
best process because there is proper step for conducting customer relationship balanced. With
this process, it is easy to collect information in synchronise manner through which SoHO Coffee
company can make their consumer satisfied. When follow this process to manage relationship
with consumers in better way because this process is cycle so managers of SoHO Coffee
company can perform it to get positive outcome.
There are various methods through which data can be collected such as Email, SMS,
Telephonic interview, etc. There will increment in profits of company also (Chauma, 2017).
There are policies which has to be delivered to workers so they can act accordingly. To expand
business, there must be some new products has to be launched by SoHo Coffee company. CRM
helps to craete good relations with customer and they can prefer SoHo brand over others.
Assessment of customer value- There are various customer which has difference in their
demands. It is essential to come with new and innovative products, this can be done with help of
feedback. Taking feedback is not enough, it is essential to work over it. This provides chance to
make good relations with customer and they also feel familiar with brand. This assessment helps
to know brand value in society and hence there is motivation to frame policies which are more
effective for association.
Event and Road shows- Road shows are helpful to tell public about brand and new
products. This creates brand value in society (Winarno and Wijijayanti, 2018). But this method
of costly and it covers less number of people. There are chances that people do not respond to
such shows. There is some motto of these shows and this helps to create awareness about brand
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among public. To present road shows this is activity which is interesting for workers too, so this
act as mood refreshing act.
Social Network-There is important role of social media in performing business activities.
This is the way which is most common these days and this helps to be in touch with numerous
people at time. In case of SoHo Coffee they can create their own web page through which they
can advertise products to customers (Cojoacă, 2017). There are sites on which they can make fan
pages and post new pictures and discounts. This method is best for youngsters.
Digital marketing- This is the method through which company can market its product
and services to different parts of country. This approach is cheap as it helps to create awareness
about brand at distant places too. These days role of digital marketing is increasing so there are
various mediums through marketing can be done. Burt while doing this confidentiality has some
questions.
P3 Explain how small business can develop transnationally and determine benefits and
drawbacks
Transactional operation define as primary process in which SoHo needs to perform in
order to successfully execute its business. This is also consider import and export businesses in
which they identifies what other countries buyer want according to that they export there
product. With this SoHo can expand its business in an effective manner. Opening new
branches , agents and franchising this all are help SoHo to expand its business.
Opening branches for expanding business after analysis of the market opening new
branch of SoHo that help in attracting new customer and create awareness in the mind of
customer.
Licensing, it is form of business agreement which involves two companies under which
one gives permission such as using patent or copyrights to another in exchange for payments.
Under this the licensee receives the rights or resource to get manufactured in the foreign location.
The main advantage associated with it that enable expansion into foreign markets and the
disadvantage is that agreement generally prohibit the originating firms from exploring the assets
in particular foreign markets. As the methods involves little or no direct investment it will be
beneficial for SoHo to take advantage of this method to expand transnationally.
Franchising, this is the term which allow to the business owner to use brand and method
of doing business distribute its product and services to other country. In this first SoHo should
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do the research of the market before selling its services and product. Advantage of franchising is
to that other individual who is capable to conduct research in better and effective manner.
Disadvantage of franchising is that in this sharing of profits is done. Under this method if the
franchisee behave in an dishonest way then business will face loses.
Strategic alliance, is the process through which there is correlation among individuals to
achieve aggrieved aims and objectives but remaining in dependent. Advantage of strategic
alliance is that SoHO Coffee company does not loose their identity in market and aims and
objectives can be achieved with joint efforts. While disadvantage of this strategy is aims and
objectives of company gets revealed in front of external party. This can serve as good method to
Soho to move transnationally as here collaboration made with other firms to facilitates business
growth.
Foreign investment is the process to invest in other country for the purpose of expanding
business. This is the way through which helps to invest in some other currency and enjoys good
image in industry. Advantage of this strategy is to maintain good brand image in industry. While
disadvantage of this is there are possibilities of loss due to fluctuating future. This method can
increase the capital requirement to the business as they will need capital to invest in the foreign
market.
Merger is the policies in which identity of one organisation merges with other identity.
This is the way through which information about best resources can be implemented to
workplace. Vanadate of this strategy is financial position of SoHO Coffee company can be
improved. While disadvantage is legal identity gets lost. This methods will help the company to
acquire the skill and knowledge of the other company with whom they are merging and thus will
be able to operate in market in better way.
From the above discussion, it is clear that strategic alliance is best for SoHO Coffee
company as they can expand business by maintaining their own identity in industry. This helps to
achieve organisational goals in best manner.
Local contact- In order to make good sales, it is important to make good relations with
people residing in same geographical background. This helps managers of SoHo to know taste
and demand of consumer and accordingly product can be launched in market.
Location- Location place vital role in developing business through transaction sales. For
instance, if SoHo has outlet near by some college or school, then there is crowd of students.
6

While at the same time, if they have outlet near corporate offices, then professional will visit
outlet and they prefer quick services.
Local skill staff- There is requirement of staff in order to serve good quality product. As
per this transnational sales, managers must select skilled personnel, so they can analyse
consumer demand properly and take actions to serve them the best. This helps to improve
consumer base of SoHo.
Local market knowledge- In order to make good sales, it is important that managers of
SoHo has knowledge about local market. This helps managers to procure resources from market
which are cheap and easily available. This helps to satisfy consumer demand.
Small business SoHo company has to keep eyes on market trends and then apply it
(Drucker, 2012). There is difference in perception of personnel, so it essential to analyse with
changes can be done to grow organisation. Benefits and drawbacks are as under-
Benefits-
Independence- Increment of sales through transnationally is independent with other
development activities of business. This is beneficial for changing policies and it is essential to
convey it to management of organisation. There is independence in taking actions and then this
gives rights to take some authority too.
Efficiency- Transnationally activities are independent and this is helps to achieve
efficiency (Williams, 2012). There are factors which has to be considered so it is helpful in
changing plans and policies of organisation. Employees must be aware of actions which has to
taken into consideration which aims at getting efficiency.
Drawbacks
Financial instability- Finance is the blood of company, so there is requirement of polices
which help to raise funds through authentic sources (Durst and Runar Edvardsson, 2012). There
is financial risk associated with this sales. It is not essential that company must ear profits in
initial days of transactions. As there is change demand of consumer, so it is not essential that
trend must be long term, so SoHo may feel competent in achieving targets.
Time consuming process- Transactional sales is the best approach to increase sales and
profits, but at the same time this method is time consuming as there is analysis of various
approaches. This is disadvantages for SoHo. Under this approaches managers has to make
process strategies which has to be part of business growth.
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TASK 3
P4 Produce an annual itemised monthly cash flow forecast showing fixed and variable costs set
against income
There are different modes through which an enterprise can increase their monetary and
financial value because of accomplish all activities of the company. With accurate amount of the
money support the organisation to do their all activities and functions in proper manner. There
are different source of finance which is apply by the SoHo are explained as below:
Bank Loan: It is identify as an essential and main source of the finance which is follow
by the company in order to arrange sufficient amount of the money. This source is also beneficial
for the company maintain their better position in marketplace (Durst and Wilhelm, 2012). Apart
from this, different kind of documentation also completed by the bank manager and even they
yield security measure by rendering loan.
Government subsidies and grants: There are different legal authority which renders accurate
amount of the finance or capital such as subsidies and grants. All these are essential for the
company to do their entire functions and activities in appropriate manner. Further, it assist in the
maximisation of sales and profit. In this government start some programme at the provincial and
federal level.
Equity Finance: It is identify as a process of increasing fund of organisation with assist
of selling assets and share in the company. It is not same from debt financing because it is
mainly related to capital lend by a firm. In this new organisation can come with their Initial
public offering. In this all share are listed under the BSE (Bombay Stock Exchange) and NSE
(National Stock exchange).
Balance Sheet, P&L and cash flow statement of SoHo Coffee Company:
Year 2017 (value in £) 2018 (value in £)
Fixed assets 120 220
Inventory 30 45
Debtors 80 50
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Bank 30 40
Total 260 355
Creditors 110 170
Bank overdraft 80 60
Total 190 230
Working capital 70 125
Profit and Loss Account at the year ended
2017 2018
Sales 40 50
Cost of sales 20 25
Gross profit 20 25
Overheads 8 9
Net profit 28 34
9

Pre launch
cash
budget
Cash Flow
budget
Particulars Jan Feb Mar Apr May June
Cash
inflows
Investment 8000
Credit
sales 2000 3000 3000 4500 1500 3500
Total
inflows 10000 3000 3000 4500 1500 3500
Cash
outflows
Fixed :
Equipment
’s 2000 2500 1500 2000 1200 1500
Variable :
Direct
material 300 300 200 300 150 500
Total
outflows 2300 2800 1700 2300 1350 2000
Net cash 7700 200 1300 2200 150 1500
10

flow
Opening
balance 0 7700 7900 9200 11400 11500
closing
balance 7700 7900 9200 11400 11550 13000
Particulars July August Septembr October Novembr Decembr
Cash inflows
Investment
Credit sales 4200 1000 2000 800 1200 1500
Total inflows 4200 1000 2000 800 1200 1500
Cash outflows
Fixed : Equipment’s 800 200 300 100 600 300
Variable : Direct
material 300 400 500 100 100 400
Total outflows 1100 600 800 200 700 700
Net cash flow 3100 400 1200 600 500 800
Opening balance 13000 16100 16500 17700 18300 18800
closing balance 16100 16500 17700 18300 18800 19600
11

Post launch cash
budget
Particulars Jan Feb Mar Apr May June
Cash inflows
Investment 8000
Credit sales 1200 2000 7500 3000 5000 6500
Total inflows 9200 2000 7500 3000 5000 6500
Cash outflows
Fixed : Equipment’s 2500 1200 1500 2500 1100 1500
Variable : Direct
material 350 300 250 150 100 500
Total outflows 2850 1500 1750 2650 1200 2000
Net cash flow 6350 500 5750 350 3800 4500
Opening balance 0 6350 5850 11600 11950 15750
closing balance 6350 5850 11600 11950 15750 20250
Particulars July August
Septembe
r October
Novembe
r
Decembe
r
Cash inflows
12

Investment
Credit sales 1200 3200 1500 8200 1250 3210
Total inflows 1200 3200 1500 8200 1250 3210
Cash outflows
Fixed : Equipment’s 1200 600 500 500 1200 700
Variable : Direct
material 500 250 450 250 1300 500
Total outflows 1700 850 950 750 2500 1200
Net cash flow -500 2350 550 7450 -1250 2010
Opening balance 20250 19750 22100 22650 30100 28850
closing balance 19750 22100 22650 30100 28850 30860
Interpretation: In pre lunch credit sales is increses from strating month and cash flow is
decreses from its first month of january. After 6 month in pre lunch credit sales and cash inflow
both decreses from july. In post lunch starting 6 months credit sales is increses than previous
and cash flow is decrese as compare to january. After 6 months credit sales and cash flow go
down .
P5 Explain how break- even analysis
Break even examination will establish when there is better situation of no net income and
no loss. It is reasoned as a financial method which will be applied by organisation so that they
are capable to determine maximum ratio of profitability (Hammer, 2015). It is highly required by
the business entity thus, they will analysis revenue. Beside this, sales and revenue will be known
which necessity to be processed by organization either monthly as well as annual basis.
13

Therefore, it is word as most important method by which an enterprise will be capable in order to
reach at lo loss as well as no profit condition. With assist of this, SoHo will create some scheme
to raise sales on little cost. This assistance to make maximum profitability for the organisation in
an effective and efficient manner. In this sales and revenue of the company is automatically
improved.
Illustration 2: Break-even Analysis
Along with this, it is highly required for SoHo to forecasting their sales as well as
production also. It is more essential and important part for the business success and growth. With
the use of this analysis company easily identify their profit margin (Harmon, 2015). Thus, it is
important and essential for the organisation to improve their performance and goodwill at
marketplace.
For instance:
Variable Cost: Rs. 6 per unit
Fixed Cost: Rs. 18000
Selling Cost: Rs. 20 per unit
Therefore, break even point for this will be:
BEP = Fixed Cost / Construction margin per unit
14

= 18000 / (20-6)
= Rs. 1285.714
15

Application of break even point on distinctive organisational situation:
To identify and analyse the profitability of company: Every organisation exist in market
has an objective of generating huge revenues and achieve strong position in market thus if such
objective are not achieved by an organisation then it will be difficult for them to sustain ins
market for longer period of time. Therefore, the management are held liable to make an effective
decisions and plans in order to reduce cost of operations which makes positive impact on the
profitability.
To price a product or service: It is essentially required for an organisation to have proper
and adequate knowledge about the Break event point so that they can able to direct their
employees to perform in suitable manner that will help organisation to achieve at certain point
where they can neither earn profit nor facing losses (Jasra and et. al., 2012).
It is important and requirements of an organisation to properly evaluate the variable along
with the fixed cost of products and service. It will help them in maintaining strong position in
market due to which the company can easily compete with their rivals and survive in market for
longer term. It will also help in building strong goodwill in market which in result moving ahead
than their competitors.
P6 Interpret key financial statements for an organisation in relation to how they contribute to the
successful management of the organi Auto-Enrolment Pensions legislation.sation
Every organisation require to establish their financial statements which allow them to
understand the real financial position of company and if any fluctuation arises there is need to
maintain the whole revenue and expenditure of business (Jenkins and et. al., 2013). Apart from
it, whole management team require to analyse the whole financial documents through which they
gather all data and information which allow them to allocate all the resources of business in
adequate manner. SOHO coffee house require to develop various type of financial statements
which are described below:-
Trading Account: An Investment account dealing in cash and securities and other
holdings is termed as trading account. The other name of this account is day trader's primary
account. They distinguish assets in trading account from others by hold strategy and long term
buy.
Balance sheet: A statements showing financial stability of an firm by stating owner's
equity, liabilities and assets at a specific point of time. It also evaluate movements of cash in

flows and out flows in an organization. It is consider as one the important document on the basis
of true financial position of company has been observed. Under balance sheet total of asset and
liabilities firm having has been shown. It is a mechanism through which investor takes the
decision whether they have to invest in that company or not and for the future perspective target
audience get an idea where organisation is able to pay their debts or not in adequate manner.
Balance Sheet of SoHo Coffee Company:
Year 2017 (value in £) 2018 (value in £)
Fixed assets 120 220
Inventory 30 45
Debtors 80 50
Bank 30 40
Total 260 355
Creditors 110 170
Bank overdraft 80 60
Total 190 230
Working capital 70 125
Interpretation- As per above balance sheet of SoHo coffee house, there is increment in
fixed asset, bank and inventory, gets improved in 2018 as compared to 2017. But there is
reduction in debtors from 80 £ to 50£. While in liability side creditors gets increased from £110
to £170. This balance sheet does not show good financial position of company. In 2017 as well

as 2018, there is difference in asset and liabilities which is shown under the heading of working
capital i.e.£70 and £125 respectively.
 Profit and loss accounts:- An account showing net loss or profits by displaying net
incomes and profits in the credit side while losses and expenses in the debit side over a
given time period. On the basis of such statement enterprise is able to show their whole
profits and loss which are linked with particular period of time. This is the way through
which organisation can determine their expenditure which are useless (Schaper and et.
al., 2014). If the financial position of company is solvent then it gives an idea and
motivate superior to higher performance on the basis of which they easily accomplish
their goals and objectives which leads to reduction of cost in production and increase the
efficiency and effectiveness of business.
Profit and Loss Account at the year ended
2017 (£) 2018 (£)
Sales 40 50
Cost of sales 20 25
Gross profit 20 25
Overheads 8 9
Net profit 28 34
Interpretation- Profit and Loss account shows profit and loss situation of SoHo
company. As per this statement gross profit for year 2017 as well as 2018 is £20 and £25
respectively. There is increment in profit of 2018 as compared to 2017. At the same time, net
profit gets improved in 2018 by £6. This shows that organisation is able to maintain their
expenses.

 Cash flow statements:- This statement gives the detail regarding total inflow and outflow
of business on the basis of which Auto-Enrolment Pensions legislation.total life of company
has been identified in financial terms (Weske, 2012). Further, it allows them to enhance
overall effectiveness and efficiency of management. Therefore, it is essential for business
to analyse the differences which were arises in whole balance sheet of company. This
also help creditors and bondholders to get the information regarding up-to what period
company make the whole debt payment.
Therefore, it is essential for SOHO coffee company to understand all the above points in order to
run their business smoothly and for the purpose of earning profits and increasing the market
share at global level.
TASK 4
P7 Discuss key legislation and regulations that have implications on small businesses or social
enterprises
Every organisation require to adhere with different legal rules and regulations whether it
is small, medium and large scale enterprises (Skolud and et. al., 2016). If company is unable or
not compile with the legal legislation then they have to bear various heavy penalties therefore, it
is mandatory for SOHO coffee company to consider all the legal laws at the time of framing
different policies procedures and tactics for business which allow them to sustain in competitive
market for longer period of time. Following are the legal laws which need to followed by SOHO
coffee company are described below:-
 Health and safety Act, 1974:- This law states that company need to make necessary
medical arrangements in order to protect the life of individuals from any hazardous
circumstances. It is utmost responsibility of manager to know that proper equipments of
safety has been installed for employees at the time when they are indulging in any
hazardous activities. Because ignorance in related to employee safety and protection will
dilute the image of company and increase the chances of employee turnover and higher
cost of productivity also.
 Data protection act:- This act stat Auto-Enrolment Pensions legislation.es that different
methods and technologies need to installed in the working structure of company so that
they are able to maintain all the personal data and information of employees and outsider
in proper manner (Smit and Watkins, 2012). If proper maintenance is their in company

then at the time when any data required they easily get without any errors and that allow
them to provides good services to customers. For example SOHO coffee company are
required to secure all the data and information of all workforce in adequate manner which
reduce the chances of hacking and loss in the form of data.
 Record keeping act:- Their is need for organisation to maintain proper books of accounts
in adequate manner and on the basis of specified objectives and standards superior
conduct all the functions and operations on the basis of which subordinate perform their
task in better manner. All the documents require to attested and maintain by employees
who are working with company and needs of employees must be clear so they perform
their activities in effective manner (Stanciu, 2015).
 Equal pay act: It is the act which has been commenced for protecting the rights of worker
who are working within the premisses of a company. It ensure that the workers who are
working in the same post should be paid equal amount of remuneration
 Sales and supply of Goods act: It is the act which deals with the section of good and
supply. Here, it is required that buyers and sellers has accurate knowledge about the
goods.
 Sex Discrimination Act: the act focusses on ensuring that the employee are not being
discriminated on the basis of region age or any other measure and equal opportunity is
being provided to them at workplace.
 Race relation Act: it comprises of series of statutes that are being enacted by the
parliament of United kingdom in order to actively access racial discrimination in to
discourage the discrimination.
 Trades description Act: The act focusses on preventing manufacturers or retailers or
service provider from misleading customers in relation with their spending.
 Consumer credit Act : The act is responsible to regulate consumer credit and consumer
hire agreements. It is the law which provide consumer protection from purchase and also
sets guideline which outlines how credit should be marketed and managed.
 Auto-Enrolment pensions legislation: the Act signifies that as per employment legislation
employer must automaticity enrol their employees into a compliant workplace pension
scheme.

CONCLUSION
It has been concluded from above assignment that managing small business is not simple
task because under this whole management team require to design particular framework in which
they establish different policies and strategies through which they provide services to their
customers which increase sales and profit. Further SOHO coffee company scan external
environment in such manner so that they observe all the tactics of management and improve in
the whole infrastructure of organisation through which they offer multiple foods products and
services which satisfy all the needs and requirement of customer through which they increase
their goodwill and brand equity.

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