Entrepreneurial Ventures and their Impact on the Economy

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Table of Contents
INTRODUCTION...........................................................................................................................3
PART ONE......................................................................................................................................3
Types of Entrepreneurial Ventures and their Relativity with the Typology of Entrepreneurship
................................................................................................................................................3
Similarities and Differences between Entrepreneurial Ventures............................................4
Impact of Micro and Small Business on the Economy..........................................................6
Significance of Small Businesses and Start-ups towards of the Social Economy.................7
PART TWO.....................................................................................................................................7
CONCLUSION................................................................................................................................8
REFERNCES...................................................................................................................................9

INTRODUCTION
Entrepreneurship is a commercial practise in which an individual establishes a company by
careful preparation and limited resources, taking into account all risks and rewards. This
behaviour entails the growth of a commercial enterprise by introducing new products to the
market. Business development, on the other hand, resulted in the development of strategies,
ideas, innovations, and other associated activities in order to make a company more effective and
efficient. This project aims to produce a report for small businesses in order to assist certain
young entrepreneurs in understanding the kind of enterprises and initiatives they should pursue
in order to succeed.
PART ONE
Types of Entrepreneurial Ventures and their Relativity with the Typology of Entrepreneurship
Entrepreneur is term used for the person who comes up with the innovative business ideas and is
supported by interpenures in their creativity and innovations. The entrepreneur achieve success
due to appropriate selection of business ventures. Apart from selection, the entrepreneur must
better understand the effectiveness and require to be competent to take responsibility in order to
run business operations smoothly (Santos, Mota and Baptista, 2021). The most significant
capability is the risk raking which helps the entrepreneur to attain sustainability in the
competitive marketplace. The risk involved depends on the business scale which is effectively
shared by the entrepreneur. The main types of entrepreneurial ventures are discussed below:
1. Lifestyle Entrepreneurship: This form of entrepreneur venture are initiated at small level
and provides comply control and autonomy with the entrepreneur. This entrepreneurship
helps to align the passion of the owner in the business in order to generate high
profitability and success for long term. This kind becomes successful when the passion of
entrepreneur mixes with the business rather than aiming to earn profit. Furthermore, the
source of finance under this kind is personal savings. They are beneficial as they quickly
reacts to the demands and evolving needs of the customers.
2. Survival Entrepreneurship: This kind requires marginal assistance from the family
members and need not require to be registered. The management process under this style
is not so complex and further, it requires few investment on the infrastructure of the
business. The bank activities are not involved and the cash transactions are done at small