Small business and entrepreneurial ventures in the social ecologies

ENTREPRENEURSHIP
AND
SMALL BUSINESS
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P.1. Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurial....................................................................................................1
P.2. Explore the similarities and differences between different entrepreneur ventures.........2
P.3. Interpret and assess relevant data and statistics to illustrate how micro business impact on
the economy............................................................................................................................4
P4 Significance of small businesses and business start-ups to the growth of the social
economy.................................................................................................................................5
P5 Characteristics as well as abilities of successful entrepreneur .........................................6
P6 Assessing the way aspects of the entrepreneurial personality reflect entrepreneurial
motivation and mindset..........................................................................................................8
P7 Identifying the way background as well as experience can hinder or foster
entrepreneurship.....................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
In this documentation, this assignment defines about several kinds of entrepreneurial
ventures in the country operating effectively and making contribution in respect to proper
development of nation's economy effectively. Moreover, this assignment also refer to exploration
of similarities and difference between different kinds of entrepreneur ventures in the country
efficiently. Apart from it, assessment of relevant data and statistics to small and micro business
contribution in respect to growing UK's economy effectively. Furthermore, this study also
describe about different kinds of characteristics and traits in terms of become a successful
entrepreneur in the country effectively and assessment of some essential aspects by which an
entrepreneurial personality can reflect to motivation and mindset as well.
TASK 1
P.1. Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurial
An entrepreneur is a person who make efforts in order to implementation of their creative
ideas on specific business and make conversion of fresh idea into new product and services in the
business in more relevant form. They need to organise, manage and design new idea in effective
ways in respect to achieve desired goals and objectives of business entity in more relevant
manner. In case of venture Eddison's GE group adopts large business venture strategy in order to
creation of more competition in the market in more relevant form. They have some areas in
which effective development can be executed effectively (Olson and Staley, 2012). Varied types
of entrepreneurial venture presented here and they are operating their business function in their
specific industries efficiently.
Small business entrepreneur venture: In case of UK, there are multiple numbers of
entrepreneur is operating in the nation which is making contribution in supporting of country's
economy effectively. There are 5.8 million small business are operating in the UK. Small
business entrepreneur is those business entities, who start-ups their business activities at small
level and furnishing small products and services according to customer demand in market
effectively (Blackburn, Hart and Wainwright, 2013). There are mostly small business ventures
are operating in the countries which is, Grocery stores, Hair saloons, consulting services,
Travelling agents, electricians, Plumbers etc. all they have supports from their family to run thin
business in the market properly and earn effective generation of the profitability in more relevant
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form. They furnishing funds for their small business via family and small business loans
institutions.
Scalable start-ups entrepreneurial: This type of business is also same like small
businesses. This is the type of entrepreneur, which have a specific vision about to changing the
world effectively. They set up proper vision and make efforts in respect to accomplishing their
pre-determined goals and objectives in more relevant form. They attract several crazy financial
investors on their particular venture in order to providing of proper capital for running of
business in the market effectively (Bridge and O'Neill, 2012). They employee the best business
minds in order to run their business and furnishing innovative products and services which have
potential to change the world effectively. They used some strategy to enhancement of their
business in the industry in more rapid manner.
Large company entrepreneurship: This is also a big kind of business in the country who
make wide range of contribution in order to growth of nation's economy in relevant form. There
are several kinds of large companies are operating in the UK efficiently and generation revenue
from the market in effective form. Large companies have finite business cycle in the industry in
relevant form. They have large numbers of production level in the industry and furnishing
products and services in large volume in the market according to customer test effectively. They
make efforts to make something new product and services in the market for new customers in the
market and they have high rate of risk in the business.
Social entrepreneur venture: This type of entrepreneur is also running in wide volume in
the UK effectively and furnishing effective product and services according to needs in various
communities in effective manner (Brenkert, 2017). They deliver such kinds of products and
services by which social welfare can be executed in relevant form. They find out such type of
products by which social needs in the communities can be fulfilled sufficiently. They are majorly
work for non-profitable business in the country effectively.
P.2. Explore the similarities and differences between different entrepreneur ventures
Similarities and differences between different entrepreneur ventures:
Small business entrepreneur venture Large company entrepreneur venture
Small business entrepreneur works for
providing small type of products and services
in the market in effective manner as per
Large company manufacture products and
services at large scale in order to fulfilment of
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