My document consists of some 9 and 16 mark questions which have been answered to a high standard and it allows a student to see how to structure their own questions and answers that they get during their lessons. The questions are very relevent to today's time and allows a student to understand how...
Saffron Catering
Do you think that non-financial help is more important that financial support to establish an
Enterprise-friendly business environment?
Financial help is support given to a business by giving them finance to help them operate and to
assist their growth. Non-financial is where the government provide a range of support, advice and
inspiration for entrepreneurs and providing enterprise support. Both can be very helpful to a
business in many ways.
Firstly Non-financial will provide businesses with advice that will assist them in whichever element of
growing their business. If a Saffron is looking to grow, they will seek non-financial help to receive
clear guidance from a business adviser who will assist them in how to raise finance in order to fund
any expansion. Furthermore, the business will need skilled staff to work for them. Workers such as
chefs and administrative workers. Non-financial support will provide the business in ways that they
can recruit the best staff that will help the business achieve their objectives and enable any chance
of growth to take place. Non-financial support also provides business in being able to attract new
customers and retain old ones. Saffron want to be able to reach a wider market by supplying to
clients such as Ikea and Amazon. They can receive advice on marketing strategies so they can make
new customers aware of them as well as keep the old customers happy and satisfied.
To add to this, Non-financial may be better due to the fact that Saffron need to make themselves
stand out from the rest of the industry as they have plans to be able to supply to famous clients such
as Ikea and Amazon. For this to take place Saffron will receive the help and guidance from a business
adviser. This business adviser will help Saffron come up with a new business plan and vision. This will
provide Saffron with a new direction to follow meaning that they get more experienced and
knowledgeable which they can use to further their business even further. Another important aspect
is helping Saffron keep their costs down. This is essential as their revenue has gone up by 50%.
Keeping costs down will allow saffron to make more profit which they can use to expand their
business.
On the other hand, financial support may be better as Saffron have recently expanded and will need
to come up and develop new products to be able to keep customers happy. They need to turn their
ideas into reality. For this, Saffron will need finance to make and develop new products. In addition
to this, Saffron has recently bought out another catering company meaning they need finance to
complete this expansion. This will mean that the financial support may be better as Saffron can
expand their business which will mean they may make more sales revenue which results in more
profit for the business. This then means that the business can run smoothly.
To conclude, I believe the non-financial option will be better for Saffron. This is because they are
already making a lot of sales revenue and have recently purchased a new catering company. They do
not need as much finance. They need clear guidance on how to manage their company. It does
depend on how the business is financially. If they are financially stable then they may require just
advise on how to grow their business affectively and in a way that they can manage it.
, Saffron Catering
Explain why the support provided by the growth voucher scheme was an important element in the
decision to expand Saffron catering.
The Growth Voucher Scheme is a programme that allows a business to gain strategic advice on a
number of vital elements of growing and running a business. The scheme offers funding and
guidance of many aspects of starting, running and growing the business.
Firstly, the support provided by the Growth Voucher Scheme was essential for Saffron Catering to
make the decision to expand. Saffron had very little knowledge on how to manage the company
after the expansion and were unable to demonstrate any effective leadership skills. Upon purchasing
another catering company, both Carla and Stacy Garey had very little knowledge on what to do next.
This is where the support of the Growth Voucher Scheme came to help. Saffron were able to receive
clear strategic advice and guidance from a local business adviser. Saffron Catering were able to gain
more knowledge about how to improve their leadership and management skills and how best to go
about developing this larger enterprise. They are able to learn valuable information such as how to
raise funds in order to fund this expansion. This may have been a reason as to why Saffron Catering
may have made the decision to expand their business.
Furthermore, the Growth Voucher Scheme was an important element in the decision to expand
Saffron Catering. This is because of the fact that the UK want to be the best place for someone to
start a business. They decided to give out small grants and amounts of money to grant that business
access to advice that will help them grow. Saffron needed advice on how to run their business after
the expansion as it is a lot more things to worry about including staff. The Growth Voucher Scheme,
gives advice on recruiting and developing staff. This is an important element as after the expansion,
Saffron catering will require more staff to work in different areas of the business, from
administrative staff to chefs. The Growth Voucher will allow them to gain information on how to
recruit the most skilled workers to ensure that their business grows and they are able to run
smoothly as a business.
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