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(Doc) Entrepreneurship & Small Business Management Assignment Solution

   

Added on  2020-10-05

16 Pages4373 Words77 Views
Entrepreneurial and smallbusiness

Table of ContentsINTRODUCTION...........................................................................................................................1LO 1 .............................................................................................................................................1P 1 Types of entrepreneurial ventures and typology ..................................................................1P2 Similarities an differences between entrepreneurial ventures ..............................................2LO 2 ................................................................................................................................................5P3 Impact of small businesses ....................................................................................................5P4 Importance of small business on the growth of economy ....................................................6LO 3 ................................................................................................................................................7P5 Characteristics , traits and skills of successful entrepreneur ................................................7P6 Entrepreneur personality reflect entrepreneurial motivation and mindset ............................8LO 4 ................................................................................................................................................9P7 Background and experiences can hinder or foster entrepreneur ...........................................9CONCLUSION .............................................................................................................................10REFERENCES .............................................................................................................................12

INTRODUCTIONEntrepreneurship is the process of designing , launching and running the business in theright direction. The business they start is initially a small business. And the people who createthis business are known as entrepreneur. As they are the person who initiate the business andtake the responsibility of that to run in the profitable manner. It is basically describe as how newbusiness are created as well as the actual process of starting new business. This report is based onentrepreneurship and small business management as small business plays a major role in theeconomy. As it motivate the people to start their business. Further this report will examinedifferent type of ventures and explain the relation to the typology of entrepreneurship. It will alsoexplore similarities and difference between the ventures. This report will also look upon all thestatistics to illustrate small business impact and also the importance of small businesses start upto the growth of the social economy. It will also determine the characteristic trait and skills ofsuccessful entrepreneurs that is different from manager. It will also access the aspects of theentrepreneurial personality which reflect entrepreneurial motivation and mindset. And at last itwill discuss background of the entrepreneur. LO 1 P 1 Types of entrepreneurial ventures and typology Entrepreneurial Ventures Micro entrepreneurial Ventures - these are the ventures which are operate at very lowlevel which sells goods and services to a local areas or a local market. Also it employs less than10 people. And they are funded from micro credit and micro finance. Small entrepreneurial Ventures – These are the ventures which serve the most to thesociety. They are operate at low level. And closely held by the individual in which the individualtake the responsibility to carry out the process. The capital provided for the small business arefrom bank , micro loans and friends . It employs less than 250 workers and it trained and polishtheir skills (Cowling and et.al, 2015).Large entrepreneurial Venture – these are the venture which are large in size and operateat large level with more than 1000 workers. These type of ventures are little bit complex innature. The capital provided for the large enterprise generally from bank loans. 1

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