Small-scale business can contribute their part to economic growth

ENTREPRENEURSHIP

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Entrepreneurial venture and their typology............................................................................1
P2 Similarities and differences between entrepreneurial venture................................................2
TASK 2............................................................................................................................................4
P3 Interpret data analysis and statistics for small business enterprise.........................................4
P4 How small-scale business can contribute their part in economy growth...............................5
TASK 3............................................................................................................................................6
P5 Traits, skills and characterised require in different managers................................................6
P6 Entrepreneurial personality reflection with motivation and mindset.....................................7
TASK 4............................................................................................................................................9
P7 Background and experience for fostering entrepreneurship...................................................9
CONCLUSION..............................................................................................................................10
REFERECES.................................................................................................................................11

INTRODUCTION
Entrepreneurship is the important functions that assist to carry several functions in term
of innovative and creative aspect. It creates wealth from the different entrepreneurial venture that
create jobs and enhance standard of living people at workplace. (Kerr, Nanda and Rhodes-Kropf,
2014) In the society, there are several benefits created that assists to accomplish more profits at
workplace. In this context, present report based on the small business enterprise Small White
Elephant which is cafe of UK and provide different kinds of products and services in the market.
In order to carry the present report it covers several kinds of entrepreneurial venture and their
typology. Furthermore, it includes similarities and differences among different ventures. In
addition to this, it demonstrates skills and attributes of several people in the business
environment for ascertain effective results at workplace.
TASK 1
P1 Entrepreneurial venture and their typology
Entrepreneurship is the effective aspect that are carry several operations and functions to
perform positive results. In this context, entrepreneur plan their outcomes and create something
new which assists to earn high amount of profits and revenue at workplace. Individual who
started venture is known as entrepreneur and in which business he deals is defines as the
entrepreneurial venture (Coviello and Tanev, 2017). There are different kinds of entrepreneurial
venture exist in the market that are as follows:
Small business entrepreneurship: In this kind of venture, unique and innovative ideas will
be develops at workplace that assists to accomplish creative results in business. This type of firm
carry by only individual because they implement small amount of fund in it. It is very important
for the person to create plan and start venture in systematic aspect. In addition to this, the
selected business need to develop their performances and outcomes through assess competition
of the market. For example, grocery stores, travel agency, plumbers, etc. These kinds of
businesses operate their functions and operations to carry different operations in systematic
manner. Highly skilled employees are also needed in this way who giving their part to make
innovative ideas and operations at workplace. Therefore, it would be beneficial to carrying
different things at workplace. Beside this, government also provide fund to enhance their
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operations in new areas. In this aspect typology include to fulfil basic needs of the family
members and person involved in it as well (Boh and et.al 2016).
Sealable start up entrepreneurship: This kind of entrepreneurial venture concerned
towards the innovations and cultural aspects in the business. In this way, results will be develops
through attract more number of people at workplace. Business ideas also develops to create
opportunity at workplace. High investment also needed at workplace that increase brand image
of the company. In this way typology has aim to enhance innovations and create products and
services development to attract several people at workplace (Chatterji and et.al 2014).
Social entrepreneurship: In this aspect, entrepreneurial venture assists to provide different
types of social services in the community for their welfare. In this aspect, venture also carried for
welfare only not for earning profit. Typology involve in this aspect is categories the society for
efficiency and effectively.
Serial entrepreneur: These types of entrepreneurs are working for future oriented
outcomes so that they forward to operate effective functions and operations in systematic aspect.
Main typology of these entrepreneurs are creating future development of the enterprise (Kerr,
Nanda and Rhodes-Kropf, 2014).
Female entrepreneur: This kind of entrepreneur focuses on the expanding organisation
operations and functions in international market. However, they possess effective management
skills as compare to the make entrepreneurs (Coviello and Tanev, 2017).
Lifestyle entrepreneur: Such type of entrepreneur focuses on the future development.
Therefore, they are determining their functions to obtain risk and handling capacity as well.
P2 Similarities and differences between entrepreneurial venture
In order to assess the similarities and differences between different entrepreneurial
venture, following aspects can be included:
 Size and structure: It has been assessed that small business considered crucial aspect in
the business for ascertain effective results at workplace. In this regard, it is very
important Sources of finance:Aims and objectives: to meet with customer demand and
requirement. As compare to this, large businesses determines unique quality and feature
in their products and services to attract customers towards the business. For example,
when entrepreneur planning to start retail they have to understand about the Tesco,
ASDA, Marriott, etc. This is because, they are big player of UK market. In respect to
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