Drivers and Inhibitors of Entrepreneurial Growth in the UK

This research proposal aims to critically evaluate the drivers and inhibitors of entrepreneurial growth in the UK. The report covers the various funding sources available for entrepreneurs, the impact of globalization on entrepreneurs, and the market opportunities for entrepreneurs in the UK. The research methodology includes a systematic literature review using qualitative data. Ethical considerations will be taken into account, and a Gantt chart will be used as a proposed timescale.

Research proposal
(What are the drivers and inhibitors of
entrepreneurial growth in the UK)
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Table of Contents
INTRODUCTION...........................................................................................................................3
RESEARCH QUESTION...............................................................................................................3
RESEARCH AIM AND OBJECTIVE............................................................................................3
LITERATURE REVIEW................................................................................................................4
What are the various funding source available for entrepreneurs?..............................................4
What is the impact of globalization on entrepreneurs of UK?....................................................4
What are the market opportunities for entrepreneurs in UK?......................................................5
RESEARCH METHODOLOGY....................................................................................................5
ETHICAL CONSIDERATION.......................................................................................................6
PROPOSED TIMESCALE.............................................................................................................6
REFERENCES................................................................................................................................9
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INTRODUCTION
Entrepreneurship refers to an individual which possess an ideas or thoughts and also intend
to execute that concept in the market by producing good or service. Entrepreneur starts a new
venture and take the risk to invest their own capital for executing that idea. In recent time
entrepreneurs act as driver of innovation and creativity. They are those people which crates
employment opportunity for various people by their thought and idea. They also contribute
towards economy growth of the nation in wider manner as by using their skill and knowledge
they bring new ideas in the market (Bodolica, Spraggon and Soueid, 2019). In this report the
topic which will be covered is the key drivers and inhibitors of entrepreneurial growth in the UK.
As per the study it is seen that access to market, supply human capital and access to funding are
the three vital elements for entrepreneurs. Having easy access to the market is one of the main
concern because if they can develop relationship with customer easily then they can gain market
share for their new idea. Another inhibitor is attracting and hire human resource by using various
source so that they can get skilled workforce s per their company requirement. In last, choosing
the right source to raise fund from different sources so that they can grow and develop their
business. These three are vital components as it assists the venture to significantly apply their
idea in real life and grow their business (Cantrell and et. al, 2020)
RESEARCH QUESTION
The research question will help the researcher to enhance detailed understanding about the topic
in greater sense. The research question that will be covered in the report are as follow:
 What are the various funding source available for entrepreneurs?
 What is the impact of globalization on entrepreneurs of UK?
 What are the market opportunities for entrepreneurs in UK?
RESEARCH AIM AND OBJECTIVE
Research aim:
The aim of this research is to critically evaluate the drivers and inhibitors of entrepreneurial
growth in the UK.
Research objective:
 To critically evaluate the funding availability for entrepreneurs
 To critically evaluate the impact of globalization on entrepreneurs
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 To critically evaluate the market opportunities for entrepreneurs.
LITERATURE REVIEW
Literature review is that chapter in the report which contain past publish data about the
selected topic. This section helps researcher to enhance their knowledge so that they can get
answer for their question in accurate way.
What are the various funding source available for entrepreneurs?
According to Verma, Malhotra and Singh (2020), there are various sources of financing
available for the entrepreneurs in UK through which they can raise capital. Some of them are:
Personal investment: In this source an individual themselves invest capital rather than
raising it by any other institution and banks. The person uses their own saving to run their
business. This is the best source as it does not create any liability to individual.
Venture capital: Another source is through using the money of venture capitalist. In this a
person need to put their innovative idea in front of them. Venture capitalist looks for those
business idea which uses technological driven concept.
Angle investor: Next vital and most important concept to fund their business is by angle
investor. Angles are those people which is retired by executive of any company. They invest
directly on small firm owned by other. In exchange of their money they tool right to supervise
venture management practices.
What is the impact of globalization on entrepreneurs of UK?
As per the view of Santalova and et. al (2019), globalization is the process of making an
interaction between two countries in terms of exchanging one nation product in another country.
There is a huge impact of globalization on entrepreneurs of UK which creates various
opportunity for the organisation. The foremost impact is by globalization trade between the
countries become easy. Earlier to sale product in other nation ventures need to pay huge tax
amount but after globalizations tax rate reduces. Another impact of globalizations on business is
economies of scale, it provides choice to the entrepreneurs to produce their product in more
effective and efficient manner. The entrepreneurs can produce their goods and services in lower
price by acquiring the best technology and manpower. Globalization also make easier for the UK
entrepreneurs to migrate their business in other part of the world.
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What are the market opportunities for entrepreneurs in UK?
As per the view of Biswas and Jain (2021), there are various market opportunity that is
available for entrepreneurs in UK which helps them to make grow their business. The foremost
advantage is investing in multiple business in single time instead of focusing on just one idea.
The UK market is so vast that a business can diversified their idea as per the requirement. The
technology sector of UK is so advanced that it is one of the bigge4st opportunity for the
entrepreneur to Acquire best technology as per their need.
RESEARCH METHODOLOGY
Research methodology is that section of the research which assist in identifying,
analysing and interpreting data. This part is used by the researcher to obtained and measure
information as per the chosen topic. Research methodology helps in attaining aim and objective
in more systematic and accurate way. In this section various types of philosophies and
approaches are used by investigator for collecting data (Silverman, 2020)
Research philosophy: There are two types of research philosophies which are positivism
and interpretivism. As per the current research, investigator will be choosing interpretivism
philosophy to collect and evaluate data. The advantage to select this philosophy is it will gather
and inspect qualitative data in more detailed manner so that more knowledge can be acquired.
Research approach: There are two approaches that can be acquired by investigator to
test their hypothesis i.e. deductive and inductive. In present investigation, researcher will be
selecting inductive approach. The main reason is that it will test new theories with the help of
qualitative data. It builds new theories and observe single variable at a time (Cristancho and et.
al, 2018).
Research strategy: Survey, systematic literature review, action research, case study and
many more are the different types of strategy that is used by researcher in their investigation. In
current report as per the topic, researcher will be selecting systematic literature review to gather
qualitative data. Another advantage is mass data can be obtained from various secondary sources
like books, journal, online sites etc.
Research choice: Quantitative and qualitative are the two research choices which can be
used to know about the type of information need to be acquired. in existing research report,
investigator will be selecting qualitative method. the reason behind this is that non numerical
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data can be get which can be in the form of words or statement. Gathering and evaluating such
information is quite significant as it helps in developing greater understanding (Camic, 2021).
Time horizon: There are two-time framework which are cross sectional and longitudinal.
in present research, cross sectional time horizon will be used by investigator. This time horizon
will take less time to gather information and the data which is collected through this will based
on current time.
Data collection: Primary and secondary are the two data collection method. In present
investigation, secondary data methods will be used. Secondary source will be used in to gather
second hand information from various sources. The main advantage to use this method is data
can be obtained in larger quantity and from various sources. Another benefit is collecting data
using this method will be more economical and also saves time of the researcher (Daniel, 2018).
Data analysis: There are two ways to inspect data in order to acquire useful information
from the raw data theses are frequency distribution and thematic. In existing investigation,
examiner will be selecting thematic method to evaluate secondary data. Another benefit is that
thematic analysis will talk about the information in deeper way and also helps in knowing the
connection between the variables.
ETHICAL CONSIDERATION
Ethical consideration is set of principles and belief that need to be follow by the researcher
while obtaining and analysing data. Ethical consideration is used in researcher in order to gather
data without harming the sentiment and emotion of the people in society. It helps in preventing
rivals between the researcher and individual so that no vicious conduct may happen. There is
various ethical consideration that need to be follow by the investigator some of them are
Informed consent, voluntary participants, confidentiality and assess to relevant components. In
current research informed constant will be taken from the participant before gathering data
(Chandra and Shang, 2019).
PROPOSED TIMESCALE
In this report Gantt chart will be used as a proposed timescale. Gantt chart is a project
management tool which will tells about the various activities that is covered in the investigation
along with the time taken to complete specific task.
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REFERENCES
Biswas, A. and Jain, A., 2021. Survey on Edge Computing–Key Technology in Retail Industry.
In Computer Networks and Inventive Communication Technologies (pp. 97-106).
Springer, Singapore.
Bodolica, V., Spraggon, M. and Soueid, M.A., 2019. Innovation drivers and trends in the retail
industry: an application to emerging markets and the case of the Gulf
region. International Journal of Comparative Management. 2(1). pp.51-66.
Camic, P.M., 2021. Qualitative research in psychology: Expanding perspectives in methodology
and design. American Psychological Association.
Cantrell, J., and et. al, 2020. History and current trends in the electronic cigarette retail
marketplace in the United States: 2010–2016. Nicotine and Tobacco Research. 22(5).
pp.843-847.
Chandra, Y. and Shang, L., 2019. Qualitative research: An overview. Qualitative research using
R: A systematic approach,. pp.1-19.
Cristancho, S.M., and et. al, 2018. Qualitative research essentials for medical
education. Singapore medical journal. 59(12). p.622.
Daniel, B.K., 2018. Empirical verification of the “TACT” framework for teaching rigour in
qualitative research methodology. Qualitative Research Journal.
Santalova, M.S., and et. al, 2019. Digital technology in retail: reasons and trends of development.
In Ubiquitous Computing and the Internet of Things: Prerequisites for the Development
of ICT (pp. 1071-1080). Springer, Cham.
Silverman, D. ed., 2020. Qualitative research. sage.
Verma, N., Malhotra, D. and Singh, J., 2020. Big data analytics for retail industry using
MapReduce-Apriori framework. Journal of Management Analytics. 7(3). pp.424-442.
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