Entrepreneurial Ventures and Impact on the Economy

Added on - 21 Feb 2021

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Entrepreneurial Venturesand Impact on the Economy.
Table of ContentsINTRODUCTION...........................................................................................................................31. Different types of entrepreneurial ventures and the similarities and differences betweenthem.............................................................................................................................................32. Impact of businesses on national, international and social economy......................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONThe report highlight the various types of entrepreneurial venture like small scale, scalablestart-up, large company and social entrepreneurship. Entrepreneurs is the person who take t ehrisk for the company to start a new business and uses the creativity and innovation in the marketto create new market for the product. TCG consulting group work as a management consultancyorganization which provides their valuable advice to the different business for their growth. Thereport highlights the similarities and differences between the ventures and various impact of t ehbusiness on the national, international and social economy. It also helps to explain the impact ofthe entrepreneurial venture on the different types of business like small, medium, large scalebusiness.1. Different types of entrepreneurial ventures and the similarities and differences between themEntrepreneurial venture :entrepreneurial venture focuses on the innovating and newbusinesses and faces high risk to get the maximum profit and productivity (Venkataraman,2019). There are different types of entrepreneurial venture like small scale entrepreneurialventure, large company, start-up social entrepreneurial etc.Types of typology of entrepreneurial venture1. Small business entrepreneurial :small business like hairdressers, grocery items, commercialstore fronts, plumbers, electricians etc. run their business to get the growth and success in theirlife (Huda, and et.al., 2019). Their motive is to earn the income for feeding their family andupbringing of their children. They can't get the finance from the venture capital they run businessthrough capitalize from their friends, family etc.Scope :the scope of the small business entrepreneurial is get the money through whichthey can feed their family. They did not want to earn the higher profit. There aim is to providethe basic knowledge to their children.Development :The development in the small business entrepreneurial is limited becauseof the limited scope and capital investment (Frederick, O'Connor, and Kuratko, 2018). Thecapital investment in these entrepreneurial is through the family, friends etc.Growth :The growth in this kind of business is limited. However, some small businessentrepreneurial provide innovative ideas and provide a better market to grow their business.3
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