The Busines Plan

We decided to create a business plan that will allow Alexis the business owner to have an assessment of his business in the current climate. So we collectively can identify exactly what needs to be done to achieve the aims and objectives of this project by using strengths and weaknesses to address threats and opportunities and what drives these threats and opportunities by conducting a SWOT and a PESTEL analysis.

SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. This type of analysis allows for the identification of strategies that align resources to the environment in which operations are taking place. SWOT analysis is a vital planning tool and is usually constructed during an internal analysis. It examines the ways in which a business can improve its functions and gives an outlook on what opportunities are available in the external environment to outperform competitors. In the table below is the SWOT Analysis regarding Myco Solutions:

Strengths	Weaknesses	Opportunities	Threats
Myco Solutions has developed connections with Swansea university science department to find newly available substrates.	Myco Solutions lacks the capital to develop further as a business.	Myco Solutions have the opportunity to expand because at the moment it’s only a small business.	Threat of new competitors in the area. Due to the land being cheap and the excellent conditions to grow mushrooms.
There are many different materials that can be used to grow mushrooms so an increase in the cost in one material won’t be much of an effect on Myco Solutions.	Lack of commercialization of the business so not many people are aware of its existence.	There is an increasing Asian population in Swansea and from statistics it can be seen that Asian people make up over 50% of the consumption of mushrooms.	Suppliers could potentially increase their prices which would adversely affect Myco Solutions therefore pushing up costs.
The mushrooms can grow without adverse weather conditions being a serious problem.	Lack of expert knowledge in how to run a successful business.	Increased opportunity to gain grants in order to raise capital. These can be from the local government.	Finance costs could increase so borrowing capital could be a problem.
Myco Solutions has developed a strong relationship with the current suppliers of certain materials, so the profit margin is fairly high.	The owner Alexis is the only person working for Myco Solutions so time management is a bit of a struggle. Therefore tasks are sometimes performed in a rushed manner.	Myco Solutions can increase consumer demand by marketing the fact that mushrooms are healthy products. At the moment the UK population is increasingly health conscience due to obesity problems.	Other mushroom suppliers may be able to offer their products at a lower cost, so potentially Myco Solutions could be forced out of business.
Links have been developed with local suppliers within the area and with local consumers.	Myco Solutions has unlimited liability meaning there is a lot more risk involved.	There’s increased opportunity to enter into foreign markets as trade regulations have become more relaxed over the last few years.
Located in Swansea which is Wales’ second most populated area.		Expansion is made easier because land in the Swansea area is fairly cheap when compared with the rest of the UK.