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Entrepreneurship and Small Business

   

Added on  2020-06-04

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ENTREPRENERUSHIP
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Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................3P1 Entrepreneurial ventures types and their relation typology..............................................3P2 Similarities and difference ...............................................................................................4TASK 2............................................................................................................................................6P3 Small and micro business impact .....................................................................................6P4 Significance of small business as well as start-ups.........................................................9TASK 3..........................................................................................................................................10P5 Characteristic, skills and traits of successful entrepreneur.............................................10P6 Entrepreneur personality reflect entrepreneur motivation and mind-set ........................11TASK 4..........................................................................................................................................12P7 Background and experience can foster entrepreneurship................................................12CONCLUSION .............................................................................................................................12REFERENCES..............................................................................................................................14
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INTRODUCTION Entrepreneurship is the willingness and capacity to organise, manage and develop aenterprise venture along with many of its risks in make revenue. The main and importantexamples of entrepreneurship is the opening of innovative firm. It is a best process of launching,running and designing a new company which is necessary to offering new product, service andprocess for hire. In this way who person generate these firms are called an entrepreneurs. It wastypically focuses on the running and launching of start-ups, due to the high amount of risksconcerned in opening an industry (Acs and et. al., 2011). This report is based on various kinds of entrepreneurial investors and their associate tothe typology. This file also included differences and similarities among the entrepreneurialventures as well as small and little business impact on the economy. Significance of small-scaleand business starts also described in this file. Different kinds of Characteristic , skills, traits ofentrepreneur which is also mentioned in this assignment. TASK 1P1 Entrepreneurial ventures types and their relation typologyEntrepreneurial venture: It is a personal who runs and starts a new business with severalresources and taking as well as planning of all the rewards & risks of her or his business venture.Under this plan is usually a innovative innovation, service or product, rather than an presentbusiness model. Such as this person target high-returns, with top level of risk. Types of entrepreneurial venture: There are basically four kids of entrepreneurial ventures,which are as follows: Survival Ventures: This kind of venture give basic support for the entrepreneur as well as her/hisfamily, in result allowing for small more than a hand-to-mouth kind of existences (Blackburn,Hart and Wainwright, 2013). The firms may or may not be officially registered, and atypicallyhas no premises, several assets, no relationship with business banking and operates on a cashbasis. Lifestyle ventures: These type of venture give a comparatively stable income stream for managersuch as owners which is based on a work capable company model and a sustain method tomanagement. The venture atypically has premises, usually an individual location, and workers,but does not search meaningful growth or expansion.
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Managed growth: These type of venture has a practicable business model as well as seek stablesuccess and growth over period of time, as demonstrated in occasional innovative goodslaunches, pulsed entry into other markets, facilities steady expansion, staffs or locations, andimprovement of a strong regional and local brand. Aggressive growth: These kind of venture typically based of technology with strong inventionabilities that desire exponential success and are funded by capital of equity. They highly focuson international and national market as well as they often become buyers for initial publicacquisition or offering (Bridge and O'Neill, 2012). Typology Entrepreneurial ventures relate to types of entrepreneur typology. There are four kinds ofentrepreneurship such as serial, social, female and mail entrepreneur etc. Serial entrepreneur: These kind of an entrepreneur who regularly comes up with innovativeplans and starts other business. These will often come with plan and acquire things launched, butthem provide roles and responsibilities to everyone move ans else on to an innovative idea andventure. This can be better thing if the personal has large of unique plan and it is the best to geteach and every one started. Social entrepreneur: This will define as, a people who pursues a new plan with the potential toresolve a society issues. These personal are willing to proceeds on the effort to generate positivemodifications in community through their new such as initiative. They includes with educationalprograms, micro-finance institution. Giving banking services as well as supporting kids orphanedby pestilent disease. Men entrepreneurs: When business organisations are managed, controlled, owned by men, theseare known as men entrepreneur. Female entrepreneur: These are identified as the enterprises controlled, managed and owned bya woman as well as her is having a minimum interest of financial like 51% of the capital andproviding at least 51% of employment created in the organisation to female (Burrows, 2015). P2 Similarities and difference Lifestyle ventures (similarities)Serial entrepreneur(Similarities)These kind of venture are totally newin the market and provide acomparatively stable income. These type of entrepreneur also new inthe marketplace and give innovativeideas and plan to lifestyle venture.
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