Application of Entrepreneurial Theory in SME for Business Success

ENTREPRENEURIAL
MARKETING

EXECUTIVE SUMMARY
Entrepreneur are the innovator, proactive and have risk taking ability required for the
functioning of new venture. Within this report emphasise is given on the different features of
small business enterprises that help them to differentiate from the other business. So to run the
new venture based on unique concept an entrepreneur need to overcome different financial issue
for the adequate business functioning. There are different promotional tool that lead the
organisation to enhance the business functioning by adopting different business practices like
word of mouth. Thus, it lead to the increase in profitably of firm.

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Analyse and distinguish the features associated with small business marketing environment.. .3
Identify operational issues faced by the new venture in financial sector....................................4
Critically compare and contrast marketing theory and practices in small business....................5
Develop autonomous learning skill.............................................................................................7
Literature......................................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1
APPENDIX......................................................................................................................................2

Topic: How the application of entrepreneurial theory in SME helps the business to attain
success?
INTRODUCTION
Marketing and entrepreneur are the two different fields of study but with the increase in
innovation and growing awareness among the people has combine the two disciplines which is
term as Entrepreneurial marketing (Franco and et.al., 2014). Thus, this field helps to exploit the
opportunity through proactive identification in order to acquire as well as retain the interest of
customers by leveraging the resource and generate value by mitigate the chances of risk. For the
better understanding of report Brightstar company has been selected which is small medium
enterprise of UK that is specialised in offering financial solution to the intermediary market. The
main purpose of company is to shape the financing system for the convenience of local resident.
This report cover topics like different features of the small business marketing environment.
Determine the operational issues that is faced by small venture in the global context. Moreover,
compare and contrast the marketing theory as well as practices of small business. Develop the
learning skill and present the ideas and concept on literature to support the topic.
MAIN BODY
Analyse and distinguish the features associated with small business marketing environment
Small businesses are operated and controlled by the private owner that take the initiative
to gather the attention of customer in the large competitive market. These businesses are usually
confined to a particular area unlike large business and concentrate to effectively service the local
community. Thus, the distinct features are stated below:
Sole ownership: Usually the small business prefer sole partnership where firm is held
and owned by single owner, limited liability company as well as partnership. Such kinds of
business reduce the risk and liability concerns of the owner. Within, Brightstar Financial Limited
the specialist offer the lending solution to the market for short tenure due to which it has three
offices that run the limited liability company effectively.
Serve small market area: The small scale business cater single community which is the
part of local area and is much smaller in comparison with large multinational organisation. Due
to confined geographical market Brightstar Financial Limited offer employment opportunity to