New Venure Creation Exam Questions Assignment Example | Topics and Well Written Essays - 1250 words

New Venure Creation Exam Questions - Assignment Example Adapting to change: it can be much more adaptable to adjustment than larger and more compound organizations. Because of this, SMEs questionably have a better opportunity of enduring difficult economic states and they are quicker at recovering from crises. In defeating the declines, these companies are able to exploit and encourage competition, which is vital for putting the present economic lethargy behind. Such adaptability in turn brings more equilibrium to the economic development of the UK and warrants that local communities partake in stimulating development (Blackburn, 2012). Partnership with larger businesses: Even though these two key benefits in the current climate, one of the main obstacles to achievement for SMEs is a weakness in linking and partnering with big businesses. A couple of years ago, small business proprietors felt deserted by the UK regime but this state is gradually changing. A support from firms like Fujitsu meant that small businesses would interchange skills and receive mentoring and management from more skilled players. Many of these firms begin as small, start-up initiatives - limited people with great ideas and the ambition to understand them, whose symbols are now internationally recognized. Small businesses comprises 99 per cent of all firms in the UK and can be actual initiators of economic development, creating job prospects for local communities and creating income. But in order to keep the force developed, the regime must support the joint efforts. (Blackburn, 2012) This has been associated with the Business angels increasing their funding to SME. Business angels are high net worth personnel that finance small developing businesses through a parity stake. They have been an important source of finance for SMEs for the last decades of years. This has been possible by such individuals giving funding to SME to facilitate their smooth running. The other