Entrepreneurship and Small Business Management

Entrepreneurship and
small business
management

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
P1: Inspect dissimilar types of business venture and explain typology of entrepreneurship......1
P2: Discover the comparations and different between entrepreneurial venture.........................2
TASK 2............................................................................................................................................3
P3 Understand and measure pertinent data and statistics to exemplify how micro and small
businesses impact on the budget.................................................................................................3
P4 Clarify the position of small businesses and business start-ups to the growth of the
communal economy....................................................................................................................5
TASK 3............................................................................................................................................5
P5 Control the characteristic characters and skills of productive entrepreneurs that distinguish
them from other corporate managers..........................................................................................5
P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation
and mind-set................................................................................................................................7
TASK 4............................................................................................................................................7
P7 Inspect, using pertinent examples, how contextual and knowledge can hinder or foster
entrepreneurship..........................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurship is the process of innovating an enterprise in order to take a financial risk of
uncertainty in order to gain profit and increase the growth of the business in the market. Every
small business is start with the idea and creating of commercial in that market for the better
growth and development of market product and services. Whereas small business management is
a part of business that help in better, growth and increasing the goals and objectives of the
business in the market. There are various businesses that provide effective services and product
form the new idea generation and growth of the business in the market. This report contains
information about different types of business entrepreneur’s ventures and explanation of how
they narrate to the functions of entrepreneurship. Also this includes information about
similarities and differences between different types of entrepreneurs. Further it includes
information about impact of small business on the national economy and its growth in the
multinational level. This also includes information about impact of entrepreneur’s mind-set. Also
it includes information about different environments that foster hider entrepreneurship.
MAIN BODY
TASK 1
P1: Inspect dissimilar types of business venture and explain typology of entrepreneurship.
There are various types of entrepreneurial venture that helps market to gain better
development and improvement of goals and objectives in the market. This types of the
entrepreneurs focus on the growth of the business and providing effective product and services to
the customers so that they can help in better development and enhancement of areas and
objectives of the business. There are various types of entrepreneurs that work for better growth
and effective business growth in the market. Below are various types of entrepreneurs explained.
Small business entrepreneurs: A majority of the business works in the small business
and that helps to gain better development and enhancement of goals and purposes. People
invested in small business focus on the growth and proficiency of the business in the market.
Small entrepreneurship made for the profit generation that support modest life style and family
business. They are not work for the large scale profit generation instead they focus on making
position in the market so that effective growth can be achieved.
1

Large company entrepreneurship: this type of business works when a company has high
level of capital investment in the business and work for the achievement of goals and objectives
in the market. Also these types of businesses also work for the effective growth and generation
of high profitability so that corporate can achieve its development and objectives in the market.
They are often a part of large scale business. They work for the fulfilment of demand and need of
the customers in the market so that effective growth and enhancement of goals and objectives
can be achieved. this happen when a large company acquire them and help in the better growth
and enhancement of goals and objectives.
Scalable start-up entrepreneurship: this kind of entrepreneurship when the entrepreneur
thinks that their business can change the world and provide effective growth and enhancement of
goals and objectives in the market. They often receive funding from the venture capitalists and
hire specialized employee that can help in better growth and objectives achievement. They look
for the things that are missing in the market and helps in the better growth and enhancement of
goals and objectives in the market. This kid of start ups focus on providing new business and
product and services that can help in better growth and enhancement of goals and objectives.
Social entrepreneurship: This type of entrepreneur works for the well fare and growth of
the people and their main objective is to provide services that assistance them in better
development and enhancement of better services in the market. The main goal of this kind of
entrepreneur is to make world better place to live and provide better growth and enhancement of
goals and objectives.
P2: Discover the comparations and different between entrepreneurial venture.
All the free enterprise business starts with the motive to improvement better growth and
enhancement of goals and objectives in the market. Business person work to improvement better
development and increase the level of development of business by the excellent process and
growth objectives. Below are explanation of similarities and differences between different types
of entrepreneur.
Basis Large scale business and small scale business
Similarities Large scale business works for the profit maximisation and also
the motive of small business is to gain profit so that business can
works in the market this can deliver better growth and
enhancement of areas and purposes in the market. Both the
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