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Entrepreneurship and Small Business Management Assignment : UK

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Added on  2021-01-02

Entrepreneurship and Small Business Management Assignment : UK

   Added on 2021-01-02

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ENTREPRENEURSHIPAND SMALL BUSINESSMANAGEMENT
Entrepreneurship and Small Business Management Assignment : UK_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1P.1. Different types of entrepreneurial ventures and there relations with typology...............1P.2. Explaining and explore the similarities and differences between entrepreneurial ventures4P.3. Impact of micro and small business on the economy of United Kingdom.....................8P.4. Importance of small businesses and business start –ups...............................................10P.5. Characteristics, traits and skills of two successful entrepreneurs which differentiate themfrom other business managers..............................................................................................12P.6.Reflection of aspects of entrepreneurial personalities on motivation and mind-sets.....13P.7. Determinate the background and experience that hinder and foster entrepreneurship.15CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
Entrepreneurship and Small Business Management Assignment : UK_2
INTRODUCTIONEntrepreneur is a person who sets up a business or businesses, taking on financial risks inthe hope of making profit. This is the person who aim at responsible for operating under dynamicbusiness environment with the motive of, raising profitability and revenues as well as managingpeople (Welter and et.al, 2017). Small scale business greatly influences the economy; they arecalled as backbone of the country. The government of country ensures that small scalecompanies and start-ups are getting growth opportunities. In this context, different types ofentrepreneurial ventures as well as their similarities will be discussed in this assignment. Further,the report also covers the impact of small businesses and new start-ups. The five personalitymodel will also discuss in this report.
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MAIN BODYP.1. Different types of entrepreneurial ventures and their relations with typologyThere are various types of entrepreneur, they all have some difference and somesimilarities in there features and characteristic. Here are different types of ventures which are as follows-Social Companies- Social companies are those companies which are created to addressand resolve the social issues. These companies are operating for the upliftment ofcommunity or society. They are manufacturing products which are very effective for thebetterment of society. Their aim is not only profit earning but their main intention iswelfare of the society. It may be hold by government or individual or group of person(Murthy and Paul, 2017). Scalable Business- Scalable companies are those operates with the goal of earning profitby establishing an integrated and structured as well as organized firm or business whichis developed by individual or group of person. In scalable company, business man has tocreate and develop new and innovative concepts to raise profit out of little investments.There is no huge amount of investment by scalable businessman (Parker, 2018).Large Business- Large business are those business which have huge amount ofinvestment with larger scale of operation. In large businesses, they can take advantage togrow their business at national level and global level. They produce and sell variety ofproduct in the market. Beside this they have to face many challenges from society,political parties and from customers too (Pisani and et.al, 2017).Small Business- Small business are those business which have less amount of investmentas well as less number of employees. Profit of business is also very less in amount,sometimes they cannot even cover their cost of business. They have limited area ofoperation but small scale companies are contributing large to the economy of UK. Smallscale business and start-ups are usually operating individually or making partnership withtheir friends or family (Murthy and Paul, 2017).
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