Analyzing Entrepreneurial Ventures and Their Impact on Economy

ENTREPRENEURIAL
VENTURE

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Analyse various kinds of entrepreneurial ventures and demonstrate how they related with
the typology of entrepreneurial...................................................................................................3
P2 Explore the similarities and differences between entrepreneurial ventures...........................4
TASK 2 ...........................................................................................................................................6
P3 Evaluate and explain relevant data and statics to illustrate how small and micro business
impact on economy.....................................................................................................................6
P4 Discuss the importance of small business and start-up to the growth and development of
social economy............................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCE...................................................................................................................................9

INTRODUCTION
The term entrepreneurship refers to a learning experience that aids an individual in order
to start a new business. In which entrepreneur means a person that start a small their own
business with limited resources and available fund. It gives rapid experiences on various
opportunities that enhance the growth and development of small business. It helps in improving
the knowledge for start-ups and there are huge demand of entrepreneur for the development of
micro and macro business (Neumeyer and Santos, 2018). The present report is based on
entrepreneurial ventures that is necessary for all types of business as it helps in increasing the
success of business. Along with this, discussion about similarities and differences between
entrepreneurial ventures is carried out as well as impacts of micro and macro business on
economy. At the end importance of small business and start-up is covered in this assignment.
TASK 1
P1 Analyse various kinds of entrepreneurial ventures and demonstrate how they related with the
typology of entrepreneurial.
Entrepreneurship is a process of creating and developing a business through innovative
and creative idea and with the help of limited resources in order to mortal it into successful
venture. It is important for a entrepreneur to have some thought about innovation and creation in
order start new business and then take it towards the direction of success (Yang, Kher and Lyons,
2018). It is essential for a entrepreneur to posses some ability to take risk for start ups and aids in
increasing local and national economy. For the same there are various kinds of entrepreneurial
ventures which are discussed below:
Small business entrepreneurship- It has been observed that United Kingdom has a large
rate of small ventures which includes grocery stores , travel agents, carpenters, mobile retailers
cafes etc. In this entrepreneur or owner moves from one place to another place in order to recruit
local people or friend or employee that are needed to operate business (Marvel and et.al., 2020).
Scalar entrepreneurship- The main purpose of this kind of entrepreneurship is to
develop the world by adopting some changes as they are more focused to produce qualitative and
innovative products. Along with this their important vision is to scale up the small business. In
this owner make efforts for attracting those investors who are the part of venture capitalist in
order to expand their business.