SMEs and Government Support: Understanding Contemporary Issues and Growth Strategies

LO1 Ability to debate contemporary issues relating to SMEs and government support available to help businesses address these issues

LO2 Ability to identify and evaluate development routes for an SME

LO3 Evidences of appraising alternative methods of growth in SMEs

LO4 Evidences of investigation and evaluation of sources of finance in SMEs

LO5 Show proof of designing a growth policy for an SME

LO6 Proof of understanding about how to manage change issues in an SME context.

We have introduced UWLFlex – our new, online, flexible learning platform.

UWLFlex has been designed to complement face-to-face learning and build on our reputation for excellence in teaching, learning and student support. We will be able to deliver a University experience that is more collaborative, active, and relevant for an increasingly digital world thus enabling us to provide you with an improved student experience. UWLFlex will provide you with an enhanced range of online tools, to help facilitate your learning whether this takes place primarily on site or online.

The department of Business Innovation and Skills estimates that 99.9% of all private sector businesses in the UK were SMEs. The vast majority (99.3%) of all businesses are small businesses. Even larger firms were once very successful small businesses.

“Since the late 20th century we have come to realise that new forms have done more to create wealth than firms at any time before them – ever! 95% of the wealth in the USA was created since 1980.” (Burns, 2011)

This module is designed to give you an insight into the nature of SMEs and the people that run them. You will engage in a consultancy type project in which you will undertake an evaluation of a small business and develop a growth, or development strategy for them.

The aim of the module is to provide students with the opportunity to:

1. Critically evaluate contemporary issues relating to SMEs

2. Explore strategic issues in SME management

3. Explore alternative routes of business development in SMEs

4. Investigate and evaluate diverse business development methods in SMEs

5. Analyse financial aspects of business expansion in SMEs

6. Critically appraise change and development processes in SMEs

The indicative topics covered in the module are:

1. Understanding the meaning and nature enterprise and entrepreneurial process

2. The nature, characteristics and variety of small business,

3. Challenging conventional views on small business and entrepreneurship

4. Becoming an entrepreneur and running a small business

5. Growth and consolidation of the entrepreneurial venture

6. Finance & Small Business

7. The entrepreneur and the macro-economic environment

8. Enterprise policy and government intervention

9. Social Enterprise and its growing importance.

You are required to complete a ‘reflective journal’ as part of your assignment; it will account for 10% of the marks. Entries should be made weekly based upon the course content covered and should be relatively short in nature; around 200 words per week will suffice although students are free to write freely in any style that works for them. The entries need only cover the ‘key points’ from each week and not be detailed in natureThe entries are private, accessible to you, your personal tutor and the instructors on the course. They will become a useful starting point for your assignment. These four questions will help to act as a catalyst for your journal but you may record and write anything that feels right for you:

1. What thoughts were prompted in your mind with this weeks’ material?

2. What did you find interesting in this weeks’ material?

3. What did you learn this week?

4. How might this learning help you with your assignment?