Table of Contents
1.1 Company Overview.
1.2 Competitive advantages of the businesses.
1.3 Assess the opportunities available to CityLink Limos Ltd.
1.4 Evaluate the opportunities for growth of CityLink Limos Ltd by applying growth Ansoff’s matrix
1.5 Assess the potential sources of funding available to CityLink Limos Ltd and discuss the benefits and drawbacks of each source.
1.6 Provide a series of recommendations for CityLink Limos Ltd.
2.1 Design a business plan for growth that includes financial information and strategic objectives for scaling up a business.
Successful entrepreneurial strategies for CityLink Limos Ltd.
In this report, an SME company has selected the name “City Link Limos Ltd”. This paper has four tasks that include the evaluation of growth opportunities. The financing and investing activities are mentioned in part 2. In the 3rd part, business planning is mentioned that includes business mission, vision, aims, and objectives, and budgets. The fourth section of the report may recommend various exits ways for the business.
1.1 company overview
CityLink Limos Ltd is the professional limousine hires company available in the UK. The main services of CityLink Limos Ltd include wedding services, children’s parties, nights out, stag & hen, school prom, birthday, airport services. They provide only a transport services facility to the above programs. CityLink Limos Ltd is a popular and largest transport hire company in the UK. The main competitors of CityLink Limos Ltd are Badger & Fox, Elite London Events, Amore Weddings & Events Planners, and Lindy Dowling Wedding & Event Planners (City Links Limo, 2019).
1.2 Competitive advantages of the businesses
Without a competitive advantage, the firm can’t be maintained its profitability and liquidity in the market (McGrath, 2016). There is a positive relationship between competitive advantage and growth of the firm because the higher the competitive advantage, the higher the growth of the firm (Godin (2016). CityLink Limos Ltd has gained competitive advantages with its unique and quality products at a competitive price and excellent customer services
Porter’s five forces analysis
Porter’s five forces include customer bargaining power, supplier bargaining power, the threat of substitutes, competitive rivalry, and the threat of new entrants (Kotler et al., 2015). CityLink Limos Ltd has less bargaining power with suppliers that increase the rate of input. CityLink Limos Ltd faces a high customer bargain. CityLink Limos Ltd also faces the threat of new competitors. CityLink Limos Ltd faces the threat of substitute products. CityLink Limos Ltd faces high competition in the market.
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1.3 Assess the opportunities available to the CityLink Limos Ltd
SWOT analysis is used to analyze the strength, weaknesses, opportunities, and threats of a business (Kotler et al., 2016)
|· CityLink Limos Ltd has provided services within a small area in the UK.|
Portfolio strategies (BCG Matrix)
According to Stern (2017), Using Boston Consulting Group (BCG) focuses on four strategies called a star, cash cow, question mark, and dog.
Diagram: BCG Matrix Source: Stern (2017).
In terms of CityLink Limos Ltd, all the services including wedding services, children’s parties, nights out, stag & hen, school prom, birthday, airport services are in the start and cash cow positions. There are no products in dog and question mark positions. This means CityLink Limos Ltd is performing better in the marketplace…………………..