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Entrepreneurship and Small Business Development Assignment

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Added on  2020-10-22

Entrepreneurship and Small Business Development Assignment

   Added on 2020-10-22

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ENTREPRENEURSHIP AND SMALLBUSINESS DEVELOPMENT
Entrepreneurship and Small Business Development Assignment_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Different types of entrepreneurial Ventures and their relation to typology ofentrepreneurship ventures.......................................................................................................1M.1. Investigate a diverse range of entrepreneurial ventures to demonstrate an understandingof entrepreneurship.................................................................................................................2D.1 Critical examination of the scope, development and growth of entrepreneurial ventures inthe UK....................................................................................................................................2P2. Similarities and differences between Social Entrepreneurship and LifestyleEntrepreneurship.....................................................................................................................2TASK 2............................................................................................................................................4P.3. SME’s impact on the UK economy.................................................................................4Analytical presentation...................................................................................................................4P4. Benefits of small businesses and business start-ups to the growth of the social economy ofUnited Kingdom.....................................................................................................................5M.2 Differences small, medium and large businesses make to the UK economy.................6D.2. Critically examination of how small businesses have an impact on different levels of theUK economy...........................................................................................................................6TASK 3............................................................................................................................................6P.5 Determine the characteristics traits, skills of successful entrepreneurs that differentiatethem from other business managers.......................................................................................6P6. Assess how aspects of the entrepreneurial personality of both entrepreneurs reflect them..7entrepreneurial motivation and mind-set................................................................................7M.3. Examination of different lines of argument relating to entrepreneurial characteristics.8D.3. Characteristic, traits, skills and motivational drivers of two successful entrepreneurs..8TASK 4............................................................................................................................................8P.7. Effect of background, personal skills can hinder or foster entrepreneurship success orfailure......................................................................................................................................8M.4. Link between entrepreneurial characteristics and the influence of personal backgroundand experience........................................................................................................................9
Entrepreneurship and Small Business Development Assignment_2
D.4. Critically evaluate how personal background and experience influences entrepreneurs.9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
Entrepreneurship and Small Business Development Assignment_3
INTRODUCTIONSmall business are those organizations which have less capital investment and aremanaged by single or limited number of persons.. Employees working in such enterprise are fewin numbers but these firms have high contribution in GDP of country. Present assignment willcover different types of entrepreneurial Ventures and differences between SocialEntrepreneurship and Lifestyle Entrepreneurship. Along with that, Impact of small business onthe economy of UK will be described briefly. Furthermore, two entrepreneurs will be chosen todetermine their characteristics, traits and skills which make them different from others.TASK 1P1. Different types of entrepreneurial Ventures and their relation to typology of entrepreneurshipventuresEntrepreneurship is the capacity of setting up a business along with all risks with a viewto earn growth and profits in the future. Businessman comes with an innovative idea and take allsuch necessary steps and risks to form a new venture. There are different types of entrepreneurial Ventures which are represented below:Micro enterprises: A business falls under the category of micro enterprises, when it has less than nine employees. As per Micro Small and Medium Enterprises Development Act 2006, afirm falls under this enterprises when its investment in plant and machinery is less than £26231.25. This kind of organisation are opened by those people who are inspired and encouraged for being self-sufficient with minimum resources. Example are Retail shops, grocery stores etc. Small enterprises: These businesses are established with more than nine employees but itcannot exceed by fifty. This sector contributes 47% in revenue to United Kingdom' economy.This firms are bigger than micro firms and earn more profits in comparison to it. Smallenterprises have investment in fixed assets like plants and machinery should be more than£34670 but less than £50000. Examples are Railyatri and Disha medical services established byNandan Nilekani. Medium business enterprises: These businesses have a higher capital investment thansmall and micro businesses. Less than 250 employees work in these firms makes it fall under the
Entrepreneurship and Small Business Development Assignment_4

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