Entrepreneurship and Small Businesses

Entrepreneurship
and small
businesses

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1Different type of entrepreneurial venture: ...........................................................................3
P2 similarities and difference between entrepreneurial venture :...............................................5
TASK 2............................................................................................................................................7
P3 Asses the relevant data and statistics to illustrate how micro and small business impact on
the economy:...............................................................................................................................7
P4 importance of small and start up businesses to growth of social economy:.........................8
TASK 3............................................................................................................................................1
Key aspects of an entrepreneurial mindset......................................................................................1
P5.Traits and Characteristic of an entrepreneur:.........................................................................1
P6.Aspect of entrepreneurial personality that reflect entrepreneurial motivation and mindset:.3
TASK 4............................................................................................................................................4
P7 Example by which entrepreneurship can become foster and hinder. ....................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship define as the process of designing , launching and operating new
business along with its risk to making profit. People who create this are known as entrepreneur.
The only person who start this business called entrepreneur. These are person who have there
own ideas and innovative ideas regarding there business and the implement that ides know as
entrepreneur. Entrepreneur means the owner of business who is focus on implementing there
idea in an effective way which work as the profit for its business. Small business
entrepreneurship most probably deal with known and well established product or the services.
Entrepreneurship venture focus on there new innovating ideas and to implement that ideas in an
effective way. Small entrepreneurship operated in limited size and the revenue is depending
based upon industry(Henrekson and Sanandaji, 2014) . Rowlinson kniwear is small scale
company which producing garments for school wear and corporate knitwear. This company
established in 1935, this company become in 2015. This report of entrepreneurship and small
business explain types of venture and there relation which type of entrepreneurship. Similarities
and difference between entrepreneurial venture and understand entrepreneur in both public and
corporate sector there critical analysis. This report help in understand the impact of small
business on economy. Assessing the key aspect of entrepreneurial mind set and different
environment which foster entrepreneurship.
TASK 1
P1Different type of entrepreneurial venture:
Entrepreneur: It is refers as a person who are the risk taker in the organisation. This the
person who has the capacity and willingness to develop its businesses with great profitability.
Entrepreneur is define who have innovative idea regarding there business with purpose of
achieve all goals and objectives of the business(Storey, 2016) (Lofstrom, Bates and Parker,
2014). Main aim of an entrepreneur is to implemented its idea in a effective way and achieve all
the goals and objective.
Entrepreneurial venture: This is define as the structure of the company . In this there is
different size and scope to run the businesses. This is define as the place in which innovation and
opportunism at its heart in state to produce economic and social value. This is such

entrepreneurial venture which mark high return with high level of uncertainty. There are
different type of business venture which is explain below :
Small businesses entrepreneurship: This entrepreneurship focus on or established
small scale businesses. This type of entrepreneurship have there small investment in there
business. In this type of business they started with limited resources and planning by individual
there is number of employee is also not so high. They capture market with the purpose of
earning livelihood cause of running at least cost. Rowlinson knitewear consider as small scale
business produce school dresses(Akehurst, G and 2012)(Ackermann, 2012).
Large businesses entrepreneurship: This businesses consider as the large scale
business who have there large innovative plan with motive of earning high profit. This type of
businesses has there large investment in there businesses. In the large amount of resources is
required and the are beneficiary for the businesses.
Scaleable businesses entrepreneurship: this kind of businesses is newly emerged in
marketplace ant the motive to develop them. This is initiated by the individual to identify
repeatable and model. In this type of business there is no certification to provided for being
implemented on the market.
Social businesses entrepreneurship: in this they focus on the type of firm which is
focus on operate their business for social benefits such as job creation etc. This kind of
businesses established by the person who convert the new innovative ideas in business. This
business focus on standard of living and the aim is to improve to standard of living of the
employee( Obeng and Haugh2014).
Typology of entrepreneurship:
Male : This is kind of person who are ready to take high risk in the organisation and
taker action to minimise the risk in the organisation. They have the effective capability to take
right decision for the businesses. Male entrepreneur can run large scale business in efficient
manner because they have that much capability to deal with it.
Female : This type of entrepreneur define as good for the small scale industry they knoe
how to design policies for the growth this type of entrepreneur know how to design the policies
for the growth of businesses and achieving its goals and objectives.
Managed growth : This include the both entrepreneur male and female. In this they
both are responsible for the growth of the business(Audretsch, D. 2012). They both work equally