Unit 42: Planning for Growth assignment sample-BTEC-HND-Level 4 & 5

Course: Pearson BTEC Levels 4 and 5 Higher Nationals in Business

This unit provides students with an appreciation of how small and medium enterprises (SMEs) develop and grow. Students will learn about and apply techniques for identifying opportunities for growth, and appraise options for achieving growth, including via collaboration. Students will also learn about the sources of investment finance and consider how an SME attracts investors. They will gain an understanding of the options for SMEs in terms of exit or, for family businesses, succession, and be able to appreciate the importance of making informed choices when choosing routes to growth and have an understanding of the potential risks vs rewards involved with growth.

Assignment solution on Planning For Growth in the UK

Growth is an essential part of any business, but it can be difficult to plan for. Successful entrepreneurs and CEOs will have a clear vision of the future, which includes plans for growth. In this blog article, I’ll outline some strategies that successful businesses use to grow their companies.

Learning Outcomes

By the end of this unit a student will be able to:

Analyze the key considerations SMEs should consider when evaluating growth opportunities

One consideration that SMEs should consider when evaluating growth is an opportunity to differentiate themselves from their competitors. If they can’t identify any opportunities, then there’s a chance they’re in a crowded marketplace or simply offers more of the same product/service as their competitors. If that’s the case, then it might be better for them to stabilize and focus on delivering quality while perfecting operations.
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A second consideration for choosing between stability or growth is whether or not they have the resources necessary to make a go at new business ventures even if those new ventures do end up failing. It often takes time and money to move into new markets with something radically different like launching an innovative product or service line without testing demand first.

Assess the various methods through which organizations access funding and when to use different types of funding

There are different sources of funding, each with strengths and weaknesses. Financial institutions offer loans to clients with bad credit or slow payments. Personal loans take a certain amount of time to approve and can create many problems when having the loan around for a longer period of time. Equity-based investments come in when you have high levels of capital but remember that investors get risks that may not their best ones.

Non-equity-based debt investment can provide more security in many ways depending on what type it is but still needs the ability to pay off those non-equity debt investments as they arrive so the business does not go bankrupt before they know whether or not the investment will actually produce a return profit for them. Intermediary private equity can be used to create a lot of synergy between the investors and the investing business by reducing risks that may occur with growth.

Develop a business plan (including financials) and communicate how you intend to scale up a business

A business plan is an important document, both for the company and for those interested in investing. The following information will give you both an overview of what it entails and how to increase the chance of securing investors’ interest with some graphically appealing figures.

A business plan typically includes a summary statement where you describe your project, i.e. if this plan were to be used for crowdfunding then the description would come here; before explaining more specifically what it is that you are proposing to do and list out any other relevant details like team members, intellectual property or technology used etcetera if applicable.

Assess the various ways a small business owner can exit the business and the implications of each option

The owner can sell the business, dissolve it, segway into another profession or lifestyle goal. Selling the business is often not an option for the owner that does not know much about running a small business to find a buyer and get the most money out of it as possible.

Dissolving a company essentially means letting it go bankrupt in order to stop paying taxes and other annual costs. Segueing from running the business into another profession provides stability but sometimes brings missing skillsets. The owner can also move on with their lives by buying a new property or starting another personal project they have always wanted to do such as publishing some books or writing music etc. It’s hard to provide advice without realizing how big of a decision this is for you and what goals you have.

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