Importance of Small Businesses and Start-ups in the Growth of Social Economy

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Table of Contents
INTRODUCTION......................................................................................................................2
MAIN BODY.............................................................................................................................3
TASK 1.......................................................................................................................................3
P1 Discuss several forms of entrepreneurial ventures and analyse how they relate to
typology of entrepreneurship.................................................................................................3
P2) Similarities as well as differences between different entrepreneurial ventures...............4
TASK 2.......................................................................................................................................6
P3) Examine data & explain effect of micro as well as small businesses on economy.........6
P4) Analyse need of small business and start-up’s in growth of social economy..................8
TASK 3.......................................................................................................................................8
P5) Discuss different traits, characteristics and skills of successful entrepreneurs...............8
P6) Explore way in which entrepreneurial personality reflect entrepreneurial motivation/
mind set................................................................................................................................10
P7 State examples to show how background & experience affect entrepreneurial practice
..............................................................................................................................................12
CONCLUSION........................................................................................................................14
REFERENCES.........................................................................................................................15
Books & Journal:..................................................................................................................15

INTRODUCTION
Entrepreneurial environment is to be defined as stages of the organisation which
consist of big medium and small which have to operate in environment (Audretsch, 2019).
Main aim of this report is to critically understand the importance of managing entrepreneurial
small business within environment. Newmoon which is the charitable organisation that helps
start up enterprises in community and society to secure loans with angel investors. Main
motive of company is to help the society and community and fulfil their needs. This report
comprises of several kinds of entrepreneurial ventures and typology, similarities or
differences between entrepreneurial Ventures, data of micro/ small business impact on
economy, importance of small business and start up, characteristics traits and skills of
entrepreneur as well as business manager, entrepreneur real personality, mind-set and
motivation.
MAIN BODY
TASK 1
P1 Discuss several forms of entrepreneurial ventures and analyse how they relate to typology
of entrepreneurship
In market there are different types of enterprises and accordingly they execute their
business activities functions and operations. The scope development and growth of
entrepreneurship Ventures depends upon their level of operations and functions carried out by
them within market. So, different types of entrepreneurial Ventures are discussed below-
Small business entrepreneurship- These are those types of businesses which are run
by small size of employees and owners itself. In small organisations the risk associated is
also low and also profitability too low. These type of are being carried out businesses are
mostly carried out by families, friends etc. There only motive is to survive in the market for
their survival. For example small shops, salons, cafes, restaurants are being considered under
small businesses (Biradar, 2018).
Large entrepreneurship- Large organisations are those who have a global business
around the world and execute their business operations at worldwide. For example Amazon,
Tesco are to be viewed as a last business enterprise. These types of organisations profitability
are higher and also risk is wider. An employee in large businesses also located at different
countries and operates virtually as well as physically.

Scalable business- Scalable business are one who innovate, invent something new in
market with purpose of introducing new product and services. Their main motive is to reduce
the production methods and products and promote new ideas so that new opportunities are
being accessed appropriately. For example Sony, Apple and Samsung are some of the scalable
businesses who focus on innovation and inventions.
Social entrepreneurial venture- These are kind of Ventures whose main purpose is
to provide welfare to both society and community at all aspects. Their main focus is on
helping the individual and making ensure about that you do not face any problem in market
and their all needs are fulfilled. For example New moon, NHS UK comes under social
entrepreneurial Ventures (Castillo, 2018).
Various kinds of typologies of ventures are described below-
Aggressive growth ventures- These are the kind of a Ventures who uses innovative
approaches and techniques to deliver new product and services within public and to
customers. Which types of organisations are being launched with a particular amount of
capital and accordingly further processes are carried out.
Lifestyle venture- These are those types of venture who run businesses with aim of
delivering quality of services and products to the customers so that they are able to increase
their living standards. In steps of companies amount of investment capital is low.
Manages growth venture- These are defined as kinds of enterprises in which they
aims at exploring business at global level to achieve higher growth. So, they are able to target
both International as well as national market and accordingly make decisions.
P2) Similarities as well as differences between different entrepreneurial ventures
Factors Decision
making
Market
segments
Objectives and
goals
Employees
Small
enterprise
& Large firm
Similarity-
Small and large
enterprise both
execute their
decision making
with proper
market research
and
analysis(Furest,
2017).
Similarity
Small and large
enterprises both
segment their
market on the
basis of different
factors on the
basis of which
they are able to
properly target
audience.
Difference
Small market
Similarity
Main objective
and goal of both
these enterprises
us to survive in
market and earn
profit.
Difference
Main goal and
objective of
small enterprises
is to carry on the
marketing
activities
without facing
Similarity
In both
enterprises,
employees work
for the
organisations
and have to obey
the rules and
regulations of
superiors.
Difference
Employee size
in small
enterprise is not
more than 10