Aspects of Entrepreneurial Ventures

Aspects of entrepreneurial
ventures

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Distinct entrepreneurial ventures along with relation to entrepreneurship typology............1
P2. Similarities together with differences among ventures of entrepreneurial............................3
TASK 2............................................................................................................................................6
P3. Interpretation addition to assessment of data for illustrating ways in which micro along
with small businesses impacts on economy.................................................................................6
P4. Importance of business start-ups along with small businesses for social economy growth.. 8
TASK 3............................................................................................................................................9
P5. Characteristic traits along with skills of successful entrepreneurs that distinguish them
from others...................................................................................................................................9
P6. Assessing how entrepreneurial personality aspects reflects motivation as well as mindset
of entrepreneurial.......................................................................................................................11
TASK 4..........................................................................................................................................12
P7. Background and experiences hinders or fosters entrepreneurship......................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
The businesses that majorly works to place innovation at its centre fro the purpose to
produce values are characterised as entrepreneurial ventures. Entrepreneurship is concerned with
creating, introducing, running, controlling and managing a new enterprise through organising
capital and other resources which translates invention into viable innovation (Ben-Hafaïedh and
Cooney, 2017). For understanding entrepreneurial venture aspects, two entrepreneurs that are
Simon Arora and Bobby Arora are selected who has built B&M Company and are running it
successfully. The report explores about wide entrepreneurial range and interrelation with
typologies. It further includes differences as well as similarities between entrepreneurial
ventures. Further, the report assessing impacts that small and micro business have on economy.
It also determines characteristics traits addition to skills of successful entrepreneurs along with
ways in which aspects related to entrepreneurial personality reflects motivation and mindset. At
last, it examines distinct environment which results in fostering or hindering entrepreneurship.
TASK 1
P1. Distinct entrepreneurial ventures along with relation to entrepreneurship typology.
Entrepreneurs are the people who takes initiatives for launching new business and
managing it properly in the competing environment (Burns, 2011). Entrepreneurial ventures are
defined to those businesses which supplies risk capital and controls all activities to gain success.
One of example of entrepreneurial venture is B&M company which is discounted homeware
chain that offers wide commodities to population of UK. Following are certain forms of
entrepreneurial venture:
Social entrepreneurship venture: Firms that works to implement solutions for the
issues and problems that are pertaining in present environment are defined as social
entrepreneurship venture (Entrepreneurship types, 2020.). These ventures uses business methods
and techniques for addressing social hurdles in innovative manner. Along with this, these entities
also aims to provide employment and raises money for development of economy. Be Caring Ltd
is one of example of social entrepreneurship venture that makes huge efforts to improve
wellbeing of individual living in the community.
Scalable entrepreneurship venture: Business start-ups that proceeds with innovative
idea to investigate for business model which will assist in making growth with it. It is done
1