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Impact of Small Business and Start-Ups in Social Economy

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Added on  2020-06-04

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Types of entrepreneurial ventures and its relationship with typology of entrepreneurship 3 Related with typologies4 P2 Similarities and differences of various entrepreneurial ventures 5 Task 26 P3 Interpretation of relevant data and statics for impact of small and micro business on the economy 6 P4 Contributions of small business and start-ups in growth of social economy 7 Task 39 P5Traitsandcharacteristicofentrepreneurswhich differentiate from other manager 9 P6 Aspects of entrepreneurial personality that reflects on motivation and mind-

Impact of Small Business and Start-Ups in Social Economy

   Added on 2020-06-04

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ENTREPRENERUSHIP
Impact of Small Business and Start-Ups in Social Economy_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1. Types of entrepreneurial ventures and its relationship with typology of entrepreneurship..3Related with typologies...............................................................................................................4P2 Similarities and differences of various entrepreneurial ventures...........................................5Task 2...............................................................................................................................................6P3 Interpretation of relevant data and statics for impact of small and micro business on theeconomy......................................................................................................................................6P4 Contributions of small business and start-ups in growth of social economy.........................7Task 3...............................................................................................................................................9P5 Traits and characteristic of successful entrepreneurs which differentiate from othermanager.......................................................................................................................................9P6 Aspects of entrepreneurial personality that reflects on motivation and mind-set................10Task 4.............................................................................................................................................11P7 Background and experience that can hinder entrepreneurship............................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONEntrepreneurship are known as the process of framing, creating, launching and generatingideas for new business which is initially a small business. The term entrepreneurship generallyexplained as willingness and capacity to develop, arrange and operating a venture in longer timealong with taking risk in order to attaining profits (Ackermann, 2012). Entrepreneurship startwith a person who are able to bear risk these kind of person are knows as entrepreneur. It is truethat entrepreneurs are also known as innovators, sound source of new techniques, methods,products and services. This report has involvement of various type of entrepreneurial venturesand gives throwing some lights on the relationship with typologies along with similarity inbetween several types of entrepreneur styles. It will also defining the effects of micro and smallbusiness on economy apart from it backgrounds and experiences of entrepreneurs are gives alongwith explaination of how it make effects on them. TASK 1P1. Types of entrepreneurial ventures and its relationship with typology of entrepreneurshipEntrepreneurial Venture: it refers to a firm that generate innovations and new ideas oropportunity form their heart in respect to produce and improve social values or economicconditions. Entrepreneur: A person who are capable to determine and frame their business on riskof finance and expecting for sound profits. These types of personalities are major thinkers whomare seeking out of the box and did not get feared from losses.Entrepreneurship: it refers to a process that helps in growth, creation and framing ofwealth of nation and resource of economic. Major ventures-Small business entrepreneurship: this kind of ventures refers to those whom are comeup with different ideas and objective along particular planed resource in order to starts theirbusiness (Blackburn and Wainwright, 2013). In the UK, there are larger number of smallbusinesses as approx. 5.7 million and they are made up around 99.7 % of all over companies andworkers nearly 50% of all non government employees. Small business are not so very high levelof ventures as these businesses can be known as hairdressers, grocery, travel agent, plumber andso on. In this venture employee could be owner's family member or any one whom are known.
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The definition of success small business is generation of sound profit so they can survive life butnot to build any industry. Scale start-ups entrepreneurship: these types of venture are known as the companyform the starting day of it with the vision to bring some change in the world. They generallyattract money from financial investors and gives employment only to those who are brightest andsmarter then others (Bridge and O'Neill, 2012). They make using of scale business model inorder to find the most suitable option in between all alternatives that helps in reducing price. Large Scale business: these kind of ventures are having definite life cycle. Most of thesemake growth through using innovations, providing new goods that are far different then rivals.These firm are operated as various activities in broad segments in order to run venture in propermanner. They have focused on larger area of market. Social enterprises: these are refers to social entrepreneurs who are innovative andkeeping their focus on framing services and product which are able to resolve the problems andneeds of society. They tries to give their contribution in social welfare. Related with typologiesSome of relations are present there, which are related with entrepreneurs and theirtypologies. They are explained as: Serial entrepreneur: Here in this type, entrepreneur are generally come up with newinnovative ideas and begins their venture after it they are deliver their all responsibility forbusiness to some one else and take move on other project hence any one can start their businesswith the helps in serial entrepreneur. Female entrepreneurs: these entrepreneurs are female who starts their own business.Where she arrange and manage a company, particularly a firm and they are able to facing the riskin order to run the venture (Bruton and Ahlstrom, 2010). There are larger numbers of femaleentrepreneurs who are generating inspirations I to others by taking steps towards growth. Social entrepreneurs: they are generally keep their concentration on social innovationsor new thing the different fields that involves health care, education or enterprise development.They tend to work in order to create strong and effective business that can knows as non profitsorganisation.
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