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P1.Different types of entrepreneurship ventures

   

Added on  2020-10-22

12 Pages3253 Words412 Views
EntrepreneurshipPolitical Science
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Entrepreneurship andSmall Business
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1.Different types of entrepreneurship ventures and how they relate to the typology ofentrepreneurship.....................................................................................................................1P2. Similarities and difference between entrepreneurial ventures.........................................3TASK 2............................................................................................................................................1P3 Interpret relevant data and statistics in your mini-research, to illustrate how micro andsmall businesses impact on the economy...............................................................................1P4. Explain the importance of small businesses and business start-ups to the growth of thesocial economy.......................................................................................................................2TASK 3............................................................................................................................................4Covered in PPT.......................................................................................................................4TASK 4............................................................................................................................................4Covered in PPT.......................................................................................................................4CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
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INTRODUCTIONEntrepreneurship is an art of making something innovating from nothing. Practices ofdesigning and creating a new business in competitive business environment is generally refereedas entrepreneurship. It is a process where an individual operates and manage all businessactivities and pursuing its vision and dream in a competitive market place. Entrepreneur is aperson who is willing to take risk to create innovative ideas which help them in meeting theirgoals (Ahl and Marlow, 2012). As entrepreneurs are self- motivated and self-employed theyidentify opportunities and made strategies according to it, which aid them to maximise theiroverall performance. Various entrepreneurship venture and how they relate with differenttypology of entrepreneurship, similarities and difference between various entrepreneurshipventures, economical impact of small business has been discussed in this report. Along with this,entrepreneurs traits and skills, personality of an entrepreneur that motivate others as well asdifferent environments which will foster or hinder entrepreneurship has also been discussed inthis report. TASK 1P1.Different types of entrepreneurship ventures and how they relate to the typology ofentrepreneurshipEntrepreneurship is a process of starting or launching a new business, along withinvolvement of risk in order to accomplishment of goal and earning profit (. There are variouskind of entrepreneurship ventures are described as below: (a) Small business entrepreneurship: In small business entrepreneurship only singleperson is involved who run or operate their own business. It may be their any family membersor local employees. Some small business are consultants, hairdressers, grocery stores, travelagents, electricians, restaurants and so on (Barringer, 2015). They borrow a fund from banks,friends, family etc. for smooth running of their business. Their main motive is to earn long termprofit and to make sustainability at marketplace.(b) Scalable start-up entrepreneurship: In scalable start-up entrepreneurship,entrepreneurs aim is to make some changes in the business world by using their innovative andcreative idea. They hire new and fresh talented employees. Also they attracts financial investorswho can invest in their business, which also generate a competition level at marketplace. 1
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