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Assignment on Entrepreneurship & a Small Business Management (pdf)

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Entrepreneurship and
small Business
Management

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Table of Contents
Introduction:.....................................................................................................................................4
LO1: Explore and illustrate the range of ventures types that might be considered
entrepreneurship...............................................................................................................................5
Examine the different types of entrepreneurship ventures and explain how they relate to
typology of entrepreneurship.......................................................................................................5
ENTREPRENEURSHIP:-Is the process of designing,launching and running a new
business,wich is often initially a small business..........................................................................6
LO2. Assess the impact of small businesses on the economy.......................................................10
Interpret and assess relevant data and statistics to illustrate how micro and small businesses
impact on the economy..............................................................................................................10
Explain the importance of small businesses and business start-ups to the growth of the social
economy.....................................................................................................................................12
LO3. Determine and assess the key aspects of an entrepreneurial mindset...................................15
Determine the characteristic traits and skills of successful entrepreneurs that differentiate
them from other business managers...........................................................................................15
Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and
mindset.......................................................................................................................................18
LO4. Examine the different environments that foster or hinder entrepreneurship........................20
Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship.........................................................................................................................20
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Conclusion:....................................................................................................................................22
References:.....................................................................................................................................23
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Introduction:
This report is based on entrepreneurship and small business management. In that perspective, the
first part of this report will provide a brief description about different types of ventures. This first
part of this report will include description on different entrepreneurial ventures along with the
explanation that shows the relation among different entrepreneurial ventures and several
typology of entrepreneurship. Besides that, this report will show both similarities and differences
between entrepreneurial ventures. On the other hand, the second part of this report will include
effect of start-up organisation for the development of the society. In that perspective, a proper
statistical chart and graph will be provided to establish the impact of small business and start up
business on the social economy. Along with that, the necessary characteristic traits and skills to
be successful entrepreneur will also be attached in this report. In addition, the major factors are
mentioned in this report regarding entrepreneurial mindset. Furthermore, this report will mention
about different foster that can be affective for entrepreneurship in both the negative and positive
way.

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LO1: Explore and illustrate the range of ventures types that might be
considered entrepreneurship.
Examine the different types of entrepreneurship ventures and explain how they
relate to typology of entrepreneurship.
Entrepreneur refers to a person who organise, manage and takes risk of business. Therefore
entrepreneurship can be considered as running, developing and introducing a new business
ventures along with taking business risk.
Types of entrepreneurship
1. Small business entrepreneurship: Small business entrepreneurship mainly refers to the sole
proprietorship which is independently owned and work for profit, these business is usually not
dominant in the field. Mainly restaurants, construction firm, retail stores and agriculture falls
under small business entrepreneurship. They mainly raise their funds from micro loans, bank
loans, personal funds etc. Small business firm can generate taxes and jobs but they cannot create
huge numbers of employment. They supply those goods and service which are necessary for
people livings as well as some leisure goods. In today’s world large number of business are
small. They fail to attract investors because they do not deal with huge profits.
2. Scalable start up entrepreneurship: In this types of entrepreneurship, a person start a
company in a view to change the world. They arrange their funds from venture capitalist and
they hire qualified employees. Their goal is to introduce scalable and repeatable business model.
Once they achieve their first goal they start finding new investors to expand their business.
Examples of this entrepreneurship are Facebook, Instagram etc. Very few people do this start-
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ups because it is an inovation cluster, so, it has risk capitals and outsize returns (Kuratko Morris
and Schindehutte 2015).
3. Large company entrepreneurship: It can be defined as an established organisation or joint
stock company which employee at least 500 people. The main purpose of this large companies is
to create huge revenue and profit for its shareholders. They generally get their funds from their
retained earnings, tax credits and subsidies. Generally this enterprises has sustainable life cycle
because of their new product introduction along with its core products. Their day to day
operation depends on customer’s tastes and preferences, government laws, competitors etc.
Example of large companies can be Google, Microsoft, and Samsung etc (Kuratko Hornsby and
Naffziger 2016)
4. Social entrepreneurship: This types of entrepreneurship mainly produces goods and
services which solve the problems and needs of society. Their main objective is to make
the world a better place rather than earning huge profit and accruing wealth. Safe point
trust is one of the famous social enterprise in the world they made inexpensive non
reusable syringes and delivered it to 40 countries. This type of enterprise mainly aim to
solve global issues and problems of developing countries. Their capital provider depend
on the size of the business and one investor can take responsibility of entire capital. These
type of enterprise may be profit, non-profit or hybrid (Lumpkin, 2017).
Entrepreneurship is considered as both the analysis of how new business are established
and the exact procedures of initiating a new one (Entrepreneurship definition. 2019). Moreover,
this is the procedures to design, launch as well as operating new enterprise, that is often started a
new business.
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The difference between ‘entrepreneurs, intrapreneurs and owner-managers’
Basis Entrepreneurs Intrapreneurs Owner-manager
Meaning Entrepreneurs are
considered as the
individuals who
establish their own
business with new
ideas.
Intrapreneurs are
considered as the staff
of firm who is in
charge of undertaking
creation onto goods,
services, procedures
and so on.
Owner managers are
known as to be the
manager of owners
who are accountable
for the management or
department of firm.
ENTREPRENEURSHIP:-Is the process of designing,launching and running a new
business,wich is often initially a small business.
DIFFRENCES BETWEEN :ENTREPRENEURS,INTRAPRENEURS AND OWNER MANAGERS
Entrepreuneurs are people wich started a new small busniess
Intrapreuneurs is a manager within a company who promotes an innovative product

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Owner manager is someone who owns and manages Explore the similarities and
differences between entrepreneurship ventures.
Differences between small business entrepreneurship, scalable entrepreneurship, large company
entrepreneurship and social entrepreneurship.
Small business
entrepreneurship
Scalable
entrepreneurship
Large company
entrepreneurship
Social
entrepreneurship
It generally generate
smaller amount of
profit
It generate recurring
revenue or
repeatable income to
invest it further
which is much
greater than small
business enterprise.
It generates huge
amount of profit to
divide it among its
shareholders and
keep some amount
of profit as retained
earnings.
They generally do
not concentrate on
how much profits
they are earning.
They only focuses
on public welfare.
They employee
small amount of
people as they do
not operate in large
scale.
They employee
more numbers of
people than what
small business
enterprises do and
they employee most
qualified people like
best engineers from
the world (Gartner
2016)
This enterprises
employee have a
huge amount of
people as they
operate in large scale
they provide plenty
of job opportunities.
They need people
from all sectors of
profession starting
from managers to
economist to
engineers to labours
etc.
They mainly provide
jobs to those people
who comes
voluntarily and want
to serve the society.
This types of
entrepreneurship
generally operate in
smaller area or in
their local area to
meet their local
demand.
This types of
entrepreneurship
may operate in
national level or can
go for globalisation.
It depends on their
potentiality of their
innovation.
This type of
enterprise operates
globally. They have
huge capitals in their
hand to open a
factory or branch in
foreign land.
This types of
enterprise may
operate in local level
or national level or
global level
depending upon
their size of the
business.
As these types of
entrepreneur
concentrate on
earning profit to
continue their
business so they
keep high price for
their product
(Ehrlich De Noble
These type of
enterprise keep their
price in such a way
so that everyone can
access their new
ideas like Facebook.
They set their price
according to their
PESTEL and
PORTERs analysis.
They sometime
follow price
discrimination
policy that is they
charge high price
These types of
enterprise generally
charge low price for
their goods as they
generally supply
goods and services
to poorer section of
the society. Even
some time they
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Moore and Weaver
2015).
from the rich people
and charge low price
from poor people.
deliver good free to
the society.
These types of
enterprise entirely
run by an individual
every decision is
taken by that
individual.
These types of
enterprise can run by
individual as well as
by groups depends
on what is the source
of idea (Mueller and
Thomas, 2017)
These types of
enterprise run by
board of directors as
every decision of the
business taken after
a meeting held
between the bord of
directors.
These types of
enterprise run by
group of people who
comes voluntarily
comes to serve the
society.
Similarities between Small business entrepreneurship, scalable business entrepreneurship, large
business entrepreneurship and social entrepreneurship
1. Financial goals: Every business entrepreneurship does not matter how they differ they want to
earn some amount of profit which will make them financially independence.
2. Risk factor: Every business entrepreneurship has fear of risk of loss. Even social enterprise
who merely work for profit want generate that much revenue which help them to continue their
business.
3. Financing strategies: All types of business entrepreneurship a common way of raising fund is
bank loan. The only difference is small business enterprise take small loans form the banks
where as large business enterprise take huge loans from banks.
4. Employee satisfaction: Does not matter how many numbers of people a business enterprise
employee they all concentrate on satisfying their employers by compensations and bonuses.
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LO2. Assess the impact of small businesses on the economy.
Interpret and assess relevant data and statistics to illustrate how micro and small
businesses impact on the economy.
The economic status of the United Kingdom has greatly been affected due to the emergence of
small and micro business. Among all types of business that operate within the United Kingdom,
small and micro business is the major ones. It is so because these business provides more
revenue and do not involve much complications or stress. Along with that, small businesses these
businesses do not need huge number of employees or suppliers and thus the expenses of these
business are quite less.
In order to understand the contribution of the SMEs in the economic growth of the United
Kingdom it is important to study about the difference between the small and large business that
operate within this country (Hill, and Westbrook, 2017).
As per the reports upon the economic status of the UK, it is clear that the number of small
businesses has increased within the UK market and the larger businesses have lost their power
upon the market. About 4.5 million companies of the UK are SMEs, which accounts to about

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99% of the UK economy. The SMEs have increased the employment to a large number of people
and thus these companies have resulted to almost 33% of employment (Helms, and Nixon,
2016).
However, in order to find out how much small businesses have affected the UK economy, it is
important to find out the contribution of all small, medium, as well as large business sectors of
the UK.
With the help of this graph, it is clear that small businesses provided about 37% turnover and
48% employment to the United Kingdom. On the other hand, the medium scale business
provides about 15% of the turnover and 12% of employment however large scale business
provides 49% of turnover and 40% of employment. Thus, it is clear that irrespective of the size
of the business SMEs contributes a lot to the economy of the United Kingdom. This as a result
has improved the economic status of this country and has helped in the development of the
company in various sectors such as social, political, environmental, and cultural sectors (Kurttila
et al., 2018). As in, it have been analysed that small businesses are growing rapidly in
comparison to medium and large business. So, as small enterprises are leading its enhances the
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employment but reduces the turnover. Similarly, as in medium business employment less but its
turnover maximises. Moreover, the percentage of large business is 0.1%, its employment
percentage is less in compare to small business but more than medium one. But their turnover is
high in comparison to bout enterprises small and medium.
The SMEs are categorized into four divisions- non-innovator, innovator, on-exporter, and
exporter. The graph presented below has shown the divisions of SMEs and with that, certain
statistical information about these businesses has been provided.
As per this graph, it is clear that there are almost 12.2% of non-inovato0rs present within the
market of the United Kingdom. Apart from that, there are almost 23.9% of innovator, 13.6% of
non-exporter, and 33.2% of exporter businesses in the United Kingdom. Thus, to be specific the
exporter SME businesses are the majority of businesses that operate within the market of the
United Kingdom. Therefore, most of the income of the United Kingdom comes from this sector,
however the contributions of the other types of SMEs is quite high too.
Explain the importance of small businesses and business start-ups to the growth of
the social economy.
Social economy is developed through a rich diversity of businesses as well as firm like mutuals,
foundations, cooperative, social enterprises and paritarian institutions and many more. They may
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have various size ranges from small to large firm as well as group that operates within whole
economic sector.
Both the startup and small business organisation carry a huge positive influence for the financial
development of the society of the United Kingdom. However, it is very hard for them to get a
proper position in the respective market as being a starter organisation they have to face a huge
competition. For that purpose, both the small business organisation and the start-up organisation
prefers to use various new and innovative ideas for the development of the business. Along with
that, they prefer to keep variation so that they can become able to reach the need and desire of
their target consumer. As well as they tries to bring innovation in their products too for the
development of the business. Implementation of this strategy to include innovative ideas is
become very affective for the growth of the organisation as using this strategy helps the
organisation to conquer a secure place in the respective market along with increasing their brand
reputation. Along with that the financial growth of the organisation will be developed too as
implementation of this new strategy can be helpful for generating higher revenue of the
organisation. Through this way the organisation become financially enhanced and the financial
developed of the organisation is very helpful for the social development. Due to the financial
development of the Small business organisation or Start up organisation the organisation become
efficient to provide a good and high amount of business taxes to the government and that become
helpful for the financial growth of the country. Apart from this, the contribution on GDP of
startup organisation and small business organisation cannot be avoided (Zander, 2016).
Besides that, establishment of small business organisation and start up organisation can be
helpful for the people or the compatriots of the United Kingdom as it decrease the

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unemployment of the country or the society. This small business organisations or start up
organisations hires employees and people for increasing the productivity of the organisation.
Being a starter the organisation cannot be able to provide a high range of salary to their
consumer and for that purpose they prefers to use less skilled employees for the organisation.
This way the unemployment of the organisation becomes reduced and this way the financial
situation of the United Kingdom become increased indirectly (Frith, and McElwee, 2017).
Besides that, in some cases, startup organisations or small business organisations are involved in
various corporate and social activities through conducting various social and environmental
works. This also helpful for the development of the brand image also organisation as well as the
society of the United Kingdom is also positively affected towards the development. This
Corporate and social activities of the organisation includes providing educational facilities for
the poor and rural people of the country. However, this activity of small and business
organisation along with startup organisation is ultimately helpful for the growth of the country.
Importance of SMEs and Start-ups in the growth of social economy.
Innovation: This is very crucial for small as well as start up enterprises to enter into market area
with innovations products in order to survive and grow into environment. If they do so it become
easy for them to gain more profitability and revenues that leads towards economic growth. Thus,
innovation is the effective way by which company as well as society can expand into economy.
Accomplishing social purpose: The main purpose of small as well as start up business is to aids
accomplish the requirements of clients and individuals. As firm is operating within society so it
have to do the work in respect of the societal people. In case they can accomplish its needs then
they can easily maximise their social economy.
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Local Improvement: Social economy growth aids in developing standards as well as lifestyle of
local individuals who are living into society. Small enterprise and start up s have intent to
accomplish basic needs of societal individuals. For gaining profitability as well as growth into
competitive marketplace. Thus, it can aids them to obtain effective results.
Creation of employment: When entrepreneur develop any new business then this needs staff to
operate several operation as well as activities. As start up and small business needs individuals
for many profile to perform its concern. It will aids in developing living standards of human
beings that leads towards raising social economy.
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LO3. Determine and assess the key aspects of an entrepreneurial mindset.
Determine the characteristic traits and skills of successful entrepreneurs that
differentiate them from other business managers.
Entrepreneurial mind set is considered as the state of mind that ascertain behaviour of
individuals towards entrepreneurial activities. It frequently provide opportunities, new values
innovation and so on. There are few types of entrepreneurial mind set that are mentioned below:
Growth mind-set: Herein, entrepreneur has expectation to develop as well as lead
themselves. Moreover, in respective mind set they challenge to themselves so that they
can represent themselves in effective manner and grow regularly. They always want to
enhance its skills and knowledge.
Business mind set: Herein, entrepreneurs wants to facilitate various kinds of services to
individuals that aids in modifying the world. This particular mind set will assists to
resolve the issues easily so that they can attain monetary freedom.
Dreamer mind set: Entrepreneurs whose have dreamer mind set are mostly successful as
they has capability dream as well as think huge. They have the believe that nothing is
impossible. It will aids entrepreneur to concentrate upon what they want from their future
as well as how they can attain it in simpler way.
Confident mindset: This is considered as the one of the essential mind set as confidence
is always refers as the success key to anything. Through combining confidence with

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another mindset will aids to attain anything. This particular mind set will always make
entrepreneur happier as well as also assists for taking actions upon objectives.
Entrepreneurial mind set is important characteristics that aids to form innovation as well
as take expected risk. Their for some of its importance are as follows:
Enhancing thinking power: Developing a entrepreneurial mind set aids in thinking what
people are doing and why. This will enhance the business at higher level as well as assists
them to face whole challenges easily.
Encourage creativity: Entrepreneurial mind set will aids to perform innovation as well
as reducing risk as innovative thinking is considered as the success key. It aids to create
innovate solutions for this and helpful to into long run.
Having positive characteristics is very helpful for an entrepreneur to set a successful business
along with the financial development of the organisation. In that case, several specific
characteristics and sills are required to be a successful entrepreneur. After going through several
processes will be helpful for an entrepreneur to set a small business organisation. However,
important characteristic, traits and skills of Bill gates a are described below that are necessary to
be a successful entrepreneur.
1. Creativity:
Creativity can be considered as one of the major characteristic to be a successful entrepreneur.
Using creativity, the entrepreneur like Bill gates able to introduce something new and
innovative. This innovation can make the organisation separate and unique from the other
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organisation. In addition, this will be helpful for the organistaion to increase the brand value of
the organisation.
2. Taking risk:
To achieve the success in life it is very important to have the courage of taking risks. This ability
of taking risk influences the entrepreneur to bring his/her creativity in front the world. The
strategy of bringing something new and innovative is very helpful for the growth of the
organisation. However, several times it can be found that, bringing innovation become
negatively affective for the growth of the organisation. However, still the entrepreneur like Bill
gates needs to show the courage to take risks. Moreover, it can be said that, to become success in
life the entrepreneur requires having the capability to take risks (Thompson, 2015).
3. Goals:
To become success, the entrepreneur has to be clear about the mission of the organisation.
Therefore, to become successful in life, the entrepreneur needs to carry a specific goals and
objectives regarding the business; this objective will lead the entrepreneur to the appropriate path
for the future development. Moreover, become successful in life an entrepreneur such as Bill
gates requires to be clear about the mission for development. Due to clear goals help them to
become a successful entrepreneur.
4. Professionalism:
However, to become a successful entrepreneur to maintain proper professionalism can be
considered as one of the important characteristic of entrepreneur. Professionalism can include
bringing reliability along with maintaining discipline. Therefore, through maintaining
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professionalism it will be easier for the entrepreneur to achieve the objective and that too in
limited time. Therefore, maintaining professionalism can be considered as one of the important
skills to become a successful entrepreneur. As being professional in life Bill gates are able to
attain their goals and become successful.
5. Passion:
To achieve success, the entrepreneur needs to be passionate about his/her work. Become
passionate about the work will be helpful for the entrepreneur to influence own (Bonnstetter,
2017).
6. Knowledge:
To become a successful entrepreneur, the person requires to become updated regarding his/her
work. This will help the Bill gates to become knowledgeable about the respective market along
with the need and demand of the target consumers.
7. Open minded:
Having the ability to accept something new or to be open-minded can be considered as one of the
most important characteristics for an entrepreneur to achieve success in life. Judging people
cannot be good for entrepreneur. Therefore, to become successful the person needs to be open-
minded so that he/she can be efficient enough to accept or to learn anything new. This is also
carries a positivity for the person along with those person, who are surrounding the entrepreneur
(Sambasivan, Abdul, and Yusop, 2017). As Bill gates have this characteristics which aids them
to grab new things easily to become successful.

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Along with these above-mentioned characteristics, several personal skills are required for an
entrepreneur. Those personal skills are described below:
1. Commutation skills:
Having proper communication skills is necessary, as these skills will be helpful for an
entrepreneur to interact with both the internal and external people. As Bill Gates have this
particular skills so it can communicate easily with other. ss
2. Leadership skills:
To become a successful entrepreneur, having proper leadership skills are necessary as this skill
of the person help the entrepreneur like Bill Gates to lead the whole organisation through
specified them proper way that will be easier for achieving the organisational goals and
objectives (Khan, 2016).
3. Time management skills:
Maintaining proper discipline will help the entrepreneur to become successful n life. For that
purpose, the entrepreneur requires to have the skills to manage time.
4. Learning ability skills:
To become good and success entrepreneur, the person need to be up to dated regarding the
respective market. In that case, the entrepreneur requires the skill of learning ability.
5. Social skills:
The social skills of an entrepreneur define having a strong relation, to formulate appropriate
strategy etc. Therefore, without having social skills the entrepreneur cannot be able to create
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strong relationship or cannot be able to identify appropriate strategy for the organisation
(Hisrich, and Grachev, 2015).
Most of the entrepreneurs are made as from their birth they are not intelligent as well as has
whole entrepreneurial skills, they also obtained as well as improve knowledge by its experiences.
Due to its creative thinking, vision and many that make them distinguish from others.
Assess how aspects of the entrepreneurial personality reflect entrepreneurial
motivation and mindset.
To set a business, it is very necessary to have entrepreneurial personality for every entrepreneur.
This type of entrepreneurial personality helps the entrepreneur for self-motivation. Along with
that, it also helps to take risks for the development along with facing problems. The prime
characteristic to be a successful entrepreneur is to have the potentiality to generate new and
creative ideas. This innovation will be able to reach the need and demand of the consumers.
Along with innovation, entrepreneur needs to be well aware so that the development of products
can be developed or improved. To be a good entrepreneur, it is important to have the capability
to take risks and those too using different resources for the development of the organisation
(Gartner, 2017).
On the other hand, to increase the level of profit, an entrepreneur needs to be clear about the
vision of the organisation and that become helpful to set the organisational objective. However,
for achieving organisational objectives, the entrepreneur needs to implement proper business
strategy. Moreover, an entrepreneur requires the capability for understanding all the
opportunities that become motivational for the organisation to increase the profit of the
organisation.
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Furthermore, Self-motivation is one of the most necessary and important factor for the success of
an entrepreneur for running the business appropriately. Along with that, the entrepreneurs need
to be well courageous for taking risks if required and that too will be helpful for achieving the
mission and objectives of the organisation (Islam, Khan, Obaidullah, and Alam, 2015).
Traits of personality have some impacts upon entrepreneurship and stand as drivers for
entrepreneurship as entrepreneurs are not clear in their goals and objective as they are not static
to that what they have to attain which has effects on entrepreneurship. Moreover, In case the
entrepreneurs are self motivated they can able to do the work in efficient manner and accomplish
its objectives. If they are not themselves motivated so they can not able to encourage other which
directly or indirectly have impact on entrepreneurship. Also, they stand as a drivers of
entrepreneurship because all the personality traits help them to operate the business in effective
way which aids entrepreneurs to become successful.

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LO4. Examine the different environments that foster or hinder
entrepreneurship.
Examine, using relevant examples, how background and experience can hinder or
foster entrepreneurship
Both the good experience and good background are equal effective for the future growth of the
organisation. This impact of both the experience and background carries both the positive and
negative impact for entrepreneur.
Personal background of an entrepreneur describes family relatives, who provide the mental and
sometime financial support to the entrepreneur. This can be motivational for the entrepreneur.
Getting proper support from the family is very influential for the entrepreneur for setting the
business. Along with that, this supportive attitude of families also helpful for the entrepreneur to
increase the courage of taking risks and that can foster them. Along with that, if the entrepreneur
belongs from a strong financial background, then it will be helpful for the person to get the
financial support from the family. It also helpful for entrepreneur for taking more risks, along
with increase the ability to face problems (Littunen, 2018).
Example:
Bill gates can be taken as an example. Bill Gates is one of the most wellknown global along with
richest business magnet, whose business is expanded over the world. Having financial family
supports become helpful for him to be the founder of Microsoft organisation (Hisrich, and Brush,
2016).
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On the contrary, experiences also matter or an entrepreneur to become success. Several
entrepreneur can be found too, who does not belong from any strong financial background. For
them, experience was the only element that they use for their development. They use their
personal both the positive and negative experiences and that become helpful for them and
influential too for achieving success in life.
Example:
Walt Disney can be taken as an example. He started his career as a farm boy and used to draw
cartoons pictures for living. This talent helps him to find a job. After through a lot of practice,
Walter Disney increased his level of experience and this, help him to get the present position of
his. Therefore, experiences of him lead to make the most famous cartoon character Mickey
Mouse (Brockhaus, 2018).
Therefore, it can be found that both the family background and experience can be influential for
achieving success in life.
Example of Three successful entrepreneurs are mentioned below:
Bill Drayton is known as the social entrepreneur as well as is the founder of Ashoka. Duncan
Bannatyne is a local entrepreneurs who sell ice cream as well as initiate their business at very
low level. As time passes through innovation thinking he attain an assets of approx $42 million
from various another business. Bill gates is the international entrepreneur that are expanded their
business in all over world. Currently he is the founder of Microsoft corporation.
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Conclusion:
This project provided various types of entrepreneurial ventures along with included several
similarities and differences between those entrepreneurial ventures. Along with that, this report
attached the description based on the impact of small business on the economy of society and
country. Along with that, personal skills and characteristics are also provided in this report to be
a successful entrepreneur. Furthermore, influence of background and experiences to be a
successful entrepreneur are mentioned in this report.

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References:
Bonnstetter, B.J., 2017. New research: The skills that make an entrepreneur. Harvard Business
Review, 90(12), p.7.
Brockhaus, R.H., 2018. The psychology of the entrepreneur. Encyclopedia of entrepreneurship,
pp.39-57.
Ehrlich, S.B., De Noble, A.F., Moore, T. and Weaver, R.R., 2015. After the cash arrives: A
comparative study of venture capital and private investor involvement in entrepreneurial
firms. Journal of Business Venturing, 9(1), pp.67-82.
Frith, K. and McElwee, G., 2017. An emergent entrepreneur? A story of a drug-dealer in a
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