Entrepreneurial Ventures

Entrepreneurial Ventures

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Covered in Brochure P1, P2 and P3.......................................................................................3
TASK 2............................................................................................................................................3
P4 Explore the importance of small businesses and business start-ups to the growth of social
economy.................................................................................................................................3
TASK 3............................................................................................................................................4
P5 Determine the characteristics traits and skills of successful entrepreneurs that differentiate
from other business managers................................................................................................4
P6 How aspects of Entrepreneurial personality reflects the entrepreneurial motivation and
mindset...................................................................................................................................5
TASK 4............................................................................................................................................6
P7 Examine how background and experience can foster and hinder entrepreneurship.........6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Entrepreneurship is an activity of establishing a business in order to gain profit by taking
various risk. It plays an important role in economic development of expanding global
marketplace. Entrepreneur is a person who generates an idea to start a new business in respect of
earning profit and raise the standard of living of people (Ko, Wiklund and Pollack, 2021). The
Entrepreneur is known for its innovative and creative ideas that help in fulfilling the need and
demand of customers. There are various skills which must be in entrepreneur to run the business
successfully they are time management, strategic thinking, efficiency level, communication skills
and networking ability. Entrepreneurs are usually passionate, confident, good planners, never
give up attitude and money managers (Maksimov and Luo, 2021). The project is based on
entrepreneurial ventures in which the types of entrepreneurs, impact of small business on
economy, key aspects of entrepreneurial mindset and different environment that hinder or foster
entrepreneurship is determined.
TASK 1
Covered in Brochure P1, P2 and P3.
TASK 2
P4 Explore the importance of small businesses and business start-ups to the growth of social
economy
The Small business and Start-ups business plays an important role in the economy through
which the GDP rate and growth rate of Country increases.
Innovation is one of the importances of small business and start-ups businesses they offer wide
variety of products and services with innovative features and design due to which customers get
attracted with goods. The Entrepreneurs aim to produce the products by implementing unique
and innovative ideas that helps in satisfying the need and requirement of customers (Colombo
and Montanaro, 2020).
Increase economic health of community is also an importance of small and start-ups
businesses. They contribute their best in improving the economic health of UK, the small
business and Start-up businesses usually support each other so that they can create thriving local