Entrepreneurship Development Programme

This assignment focuses on creating an entrepreneurship development programme as an intervention tool. It requires a comprehensive review of literature on institutional theory, corporate taxes' impact on investment and entrepreneurship, sustainable entrepreneurship, and different types of entrepreneurship. The goal is to develop a practical programme that addresses specific challenges faced by entrepreneurs in the UK, supported by statistical data on independent companies, start-ups growth, and SME turnover.

Entrepreneurship and
Small Business

Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
P1 Types of entrepreneurial ventures and typologies............................................................3
P2 Similarities and differences between entrepreneurial ventures.........................................5
M1 Understanding of entrepreneurship in both public and private sector.............................7
P3 Impact micro and small business have on the economy...................................................8
P4 Importance that small businesses and business start-ups on the growth of the social
economy...............................................................................................................................11
M2 Differences that small, medium and large businesses make to the economy, applying
relevant data and statistics....................................................................................................12
PART 2..........................................................................................................................................13
P5 Skills, characteristics and traits of entrepreneurs............................................................13
P6 Entrepreneurial attribute effect their mind-set and encouragement................................14
M3 Different lines of argument relating to entrepreneurial characteristics.........................15
P7 Influences of personal background and experience to specific successful entrepreneurs15
M4 Link between entrepreneurial characteristics and background and experience influences 16
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

INTRODUCTION
Entrepreneurship refer to the planning, functioning and launching procedure that help in
operating the new business which is often small companies. The person who are often engaged in
operating such entrepreneurial activities are known as entrepreneur. United Kingdom is enlisted
one of the most entrepreneurial country in entire Europe. This assignment is prepared over the
Federation of Small Business in United Kingdom that represents entire medium and small sized
business (Alsos, Carter and Ljunggren eds., 2011). This report is seeking for the major types of
entrepreneurial venture as well as typologies along with their influence on the regional, local,
international and national economical influence on United Kingdom economy. This report will
also evaluate different entrepreneurship skills as well as role of background on the activities of
business.
PART 1
P1 Types of entrepreneurial ventures and typologies
An entrepreneur refer to the individual who operate and functions the limited business
resources and successful organisational activities through maintaining the probable danger.
These are the entities which start a venture considering the failure and organisation success
probability and administrate their whole enterprise by themselves (TYPES OF
ENTREPRENEURSHIP, 2017). As FSB carry out and track entire records of small businesses of
United Kingdom.
Difference between Intrapreneur and Entrepreneur:
Basis Intrapreneur Entrepreneur
Definition This can be termed to the
worker who is liable for
demonstrating numerous
innovation in service,
products, procedure etc.
Entrepreneur can be termed as
the individual who determine
numerous business concepts
and aspects which are often
new.
Risk Employed by organisation. Borne through oneself.
Works for Developing a leading market
position.
Alter and reconfigure existing
framework and culture of
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organisation.
Techniques Recuperative Spontaneous
Resources Organisation render more
resources.
Own resources and practices
are optimised.
Capital Financed through enterprise.
company.
Self emerged
Enterprise Existing One Newly Established
Dependency Dependent Independent
Here are mentioned some of the basic types of entrepreneurial venture i.e. discussed as below:
Small-business enterprise: These business organisation are formed and functioned by a
person with the purpose of earning their living and reaching their basic requirement. This consist
of salon business, barber, grocery stores etc. the major financial funds are often gained through
family, friend or bank loan etc.
Scalable entrepreneurial start-up: Such business are often introduced to gain the
increment and more revenues. Silicon Valley fund investor are usually form such business
enterprises. The major role of these activities are to cater change in the working system who hire
hard working employee for reaching their purpose.
Large Venture Enterprise: These elements often contain limited life-cycle that develop
more disruptive innovation for sustaining and reaching to the targetted outcome. Modification in
legislative, competitors and taste, company create more innovation in their commodities.
Social Entrepreneurship: Aiming to the betterment of social issues and miseries, these
entrepreneurs functions their operations of business. These are often profit-oriented, hybrid
whose purpose is to reduce the social issues and menace.
In the market, there are numerous typologies of enterprise that is interlinked with the
above mentioned enterprise in which some are discussed as below: Survival Venture: These enterprises are interlinked with the entrepreneur of small
business that are focused over the surviving and learning aims. These organisation are not
properly licensed, or located at certain place.
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 Lifestyle Venture: These entrepreneur believes in the evolution and growth as per the
market condition according which they modify their objectives, structure and strategies.
It include the large number of worker. Serial Venture: These entities discover or focus over new invention or revolutionary
method, idea, or operational activities in order to create a drastic change in the whole
market system (Awogbenle and Iwuamadi, 2010).
 Female Venture: For the purpose of empowering worker and supporting their morals and
values, these entrepreneurs communicate their creative invention. These represents
equality for women and justice in the society.
P2 Similarities and differences between entrepreneurial ventures
Difference between private and social enterprise
Comparison Basis Social Enterprise Private Enterprise
Definition Non-governmental enterprises
introduced through ordinary
citizens that are dependent as well.
Introduced for gaining more
benefits and merchandising their
services and products.
Operations Area Big Can be modest and large
Objectives Social welfare and improvement. Earning more benefits from the
services and products.
Here are mentioned some other practices and activities which have mentioned in the above
mentioned report which is discussed below:
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Venture Similarities Difference
Social & Small
Entrepreneurial
1. Both of these venture aim to
meet the targetted outcome in
better manner.
2. The main focus of such entities
are merchandising their
commodities within the
marketplace (Bruton, Ahlstrom
and Li, 2010).
1. Social entrepreneurs focus over
more social benefits and support
to society where on the other
hand, small entrepreneur focus
over the meeting the maximum
advantages.
2. Main motive of social
entrepreneurial venture is to
resolve the miserable issues from
society in order to create a better
place to live. Where small
business motives are often gain
more benefits to make their own
lives more convenient and better.
3. The major focus or objectives
of social entrepreneurial venture is
to serve the required people. On
the other side, small business
person work over their own
serving to live the life's luxuries.
Scalable & Large
Entrepreneur
1. Scalable as well as large
entrepreneurs focus over the
perception and structure to direct
their working style of trading in
market.
2. Both of the business ventures
aims over gaining maximum
benefits out of whole implemented
activities.
1.Scalable ventures consist of
limited resources and financial
asset where large companies
involve large amount of benefits
and unlimited loss.
2. Scalable entrepreneurial
venture aid in establishing their
idea and sustain in market where
large organisation seek for more
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funds, sponsors and investors etc.
Serial & Lifestyle
Venture
1. Both of the entrepreneurial
ventures aims over the carrying
different concept in business.
2. Both employ more hard working
and bright worker able to
implement their targetted plan
(Desai, 2013).
1. Lifestyle ventures do not
initiate for consolidate with small
business entities where serial
ventures look for the expansion of
business and sponsors for
evolving business.
2. Lifestyle entrepreneurial
Venture produce more human
comfort commodities on their
other side serial ventures believes
in more different concept or
business plan.
Male & Female
Entrepreneurial
1. Male and female entrepreneur
perform their best for reaching
their set outcome in ideal way.
2. It consist of equal skills and
knowledge level.
1. Male entrepreneur are less
sensitive in comparison to female
entrepreneur which impact their
decision making methods.
2. Female entrepreneur are more
dedicated and hard working in
comparison of male entrepreneur
while working or performing any
activities.
M1 Understanding of entrepreneurship in both public and private sector
As per the above mentioned report, it can be claimed that there are diverged range of
ventures and typologies in the entrepreneurial field. This is fundamental for an entrepreneur to
consider the major aspects of those ventures in order to develop and sustain in the competitive
business industry. These enterprises are more similar to each other on various basics where on
the other hand, it is distinct on various elements. Hence, both are different when it is implied to
private and public sector. Public sector entrepreneurship generate greater prosperity of economic
through transforming a economical status-quo environment into one which is conductive in
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regard of economic units involving in innovative practices in the uncertainty face. Private sector
can helps in investment which is critical to meet their basic essential of market. Hence, both of
these areas accept the term in distinct manner.
P3 Impact micro and small business have on the economy
Small Business: This includes the association, sole companies, partnership business etc.
who follows their purpose to meet their targetted result. These types of entities consist of 10-
2500 workers for operating their business.
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Micro Business: This sort of companies are formed on initial level which contain large
worker amount with time. They are able to meet fair benefit amount along with achieving the
determined outcome.
Medium-sized Business: In these companies, more than 300 worker worker who operate
the entire worker. It contain large amount of income and return of investment from operated
activities.
Nature & Traits of Sole, Partnership as well as Private Business
Private: these entities are often owned by private owner which are formed for the
individual's personal activities or living (Djankov and et. al., 2010). This contain approximate 50
worker or more which is being operated and functioned by that individual or owner.
Sole Business: These types of businesses or enterprises are owned by single owner who
is solely responsible for their liabilities and benefits along with the company's debts. He is liable
for the decision making and operation of companies. The major drawback of this types of
company is one person is unable to manage the huge responsibilities of company.
Corporation: These business companies are build under the legislative structure in which
two or more than two business partner or shareholder are included. These are often large in size
which pay large tax amount and help the nation in their economy through rendering a big part.
Hence, as per the report it can affirm that in past few year, more than 660000 start-ups
has been established and approximate £300m loan has been given by banks. Here are mentioned
some of the major impact of small business and start-ups on the United Kingdom's economy that
is mentioned as below:
 Local Impact: After the introduction of Brexit, UK has faced various issues due to
recession period. This includes financial crisis and unemployment in the country.
Government later provided subsidies plan to the individual who are performing or
planning to start a new business. This has helped the local economical status of United
Kingdom through rendering more than 65% of their part in employment of nation. Also
there are more than 92% economical part is rendered by small business through getting
taxes (Drucker, 2014). This also rendered the exchange of capital in the nation and helped
in increasing the GDP rate in local market. Such small business enterprises are rendering
more than £43 million Euros annual turnover in UK.
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 Regional Impact: Micro and Small business companies has major influence on the
market or economy of United Kingdom. Regional market and economical status has
greatly influenced after the initiation of small business enterprises in the country. This
has shaped the new trends and marketing style of business in United Kingdom. Along
with this, it has rendered support ideas and new framework of business to the regional
market. This has helped in performing the whole country together in the peak time when
they were e suffering from the issues of recession and crisis. More than 11, 000 people in
UK have started their new ventures in last few year as per the study.
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Illustration 1: Annual SME turnover in UK
Source 1: Annual SME turnover in UK, 2018

 International and National Business: Micro business and Start-ups has changed the
economical situation of United Kingdom drastically. This has helped the nation through
rendering job to their youth which is more than 25 million people (Fayolle, 2013). This
has increased their market position and standard of living of each individual at the
international level. This has enhanced the GDP rate to 0.2% presenting the report that UK
is performing way better after recession. Thus, small business and micro enterprises
shapes whole economy of a nation so as UK's.
P4 Importance that small businesses and business start-ups on the growth of the social economy
Small business enterprise has great impact of the market of United Kingdom as this has
rendered more opportunities of work and job to the nation. There are various different use and
impact of these entities in UK business world depending on different factors. Here are mentioned
some of them:
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Illustration 2: Growth of UK start-ups
Source 1: Growth of UK start-ups, 2018

 Economical Factor Impact: Through rendering more innovative ideas and activities in
the market, organisations like small business and micro enterprises of UK has changed
the economical structure of country. This has improved the level of United Kingdom's
economy up-to 80% through supporting various job opportunities. Decreasing unemployment: After the Brexit, nation has faced various unemployment
and drastic fall in the standard of living of country which has raised due to the small
business and start-ups. This has supported the nation through rendering more than 65% of
job of their entire employment activities. This has helped in uplifting overall standard of
living of the country improving the level of nation among international countries.
 Supporting government through income tax: Government has been facilitated huge
amount from micro and small business enterprises as the number of jobs and business has
increased in the market of United Kingdom.
These are the causes why this is essential to have start-ups and small business in a
country which not only support the country's economy but improve the society as well.
M2 Differences that small, medium and large businesses make to the economy, applying relevant
data and statistics
This can be explained after evaluating the major data over the issues and major changes
incur within the economical environment of United Kingdom after the engagement of more
small business enterprises that this types of business has increased the positioning of working
environment. SME, medium and start-ups are the focal elements which helps in shaping
organisational policy in the European Unions and UK business sector. These are most important
sector of economy of nation that represents more than 99% of their organisation employing
individual's increasing number.
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Hence, above graph states that due to increase in the business enterprises in country, the
dependence of enterprise. Therefore, these are essential part which is required for an country to
manage for better economical status within nation.
PART 2
P5 Skills, characteristics and traits of entrepreneurs
Beside from genuine individual, entrepreneur work harder understanding all chance of
failure in their business plan which makes them unique then a common person. Their traits,
skills, behaviours, attributes are the elements which makes them more different (Different types
of entrepreneurship: What’s best for your business?, 2013). The report will be considering the
example of Mark Zuckerberg as the example for evaluating the major characteristics which is
mentioned as below: Hard Working: Mark Zuckerberg was more hard working and active when it comes to
performing any activities of organisation. It is one of the important trait which helps in
the decision making procedure of an enterprise helping in growing and evolving company
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Illustration 3: UK independent and dependent companies statics
Source 1: UK independent and dependent companies statics, 2018

in the competitive working environment. FSB has observed that an entrepreneur need to
be more optimistic and hard working in order to chase their target and aims. Risk-taking and decisive: An entrepreneur should be more able to make the decision
even in conflict situation or more stressful condition. They should be able to take risk
understanding all the chance of success and failure in the industry. Mark Zuckerberg
invested the capital understanding the risk and with the idea of changing the
communication system. Today, this is one of the most popular and used application in the
entire social media. There are various techniques and methods that an entrepreneur can
use in regard of converting their decision or judgements more effective.
 Motivational: An entrepreneur is considered as the leader of their organisation who is
liable for inspiring and stimulating entire worker and convincing the investors and
sponsors to invest in their company. Employee need proper encouragement and guidance
for performing any activities or operation in the company. Mark Zuckerberg is not only a
good entrepreneur but a great leader who has been guiding their company toward the
success in the very earlier age. Now he has not only expanded the reach of Facebook but
bought other two most used social media applications i.e. Whatsapp and Instagram.
These are the major traits or characteristics of a good entrepreneur which they should
have before beginning a new venture or establishing a new small business. The journey of
reaching success is full of struggles and menace. It depend on the entrepreneur how far and how
long it takes in order to reach to final outcome. There are various other traits which they should
have such as interaction or communication skills, determinate personality etc. this is essential
elements for the growth and development of a company. Hence, all entrepreneur should have
traits of these entrepreneur in order to achieve the success.
P6 Entrepreneurial attribute effect their mind-set and encouragement
Perception or stimulation are very common and essential terms that can help an
entrepreneur in evolving a successful business enterprise. As Mark Zuckerberg, FSB is aiming to
set a great example among the small business and other enterprises in order to meet the effective
reports (Audretsch, Falck and Heblich eds., 2011). The mind-set of an individual and their level
of encouragement sets their decision-making activities and business operation affecting the
quality of their work. Along with their mind-set, there are various elements which affects the
outcome of these activities such as traits, behaviour of individual, belonged culture, lifestyle etc.
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On the flipped side, one has to cope up with different issues and problems for sustaining in the
competitive business environment through handing different condition in the best way.
After the period of Brexit period, UK has been facing various changes in the business
environment linked with new enterprises and small businesses. In order to support the
employment rate of the country, government of UK promoted and supported the small business
and start-ups business through rendering the different schemes and subsidies to them. This is the
positive perception or motivation that an entrepreneur must have in order to motivate other and
stimulate their employee as well. This helps in them in achieving their determined target of
business helping in reaching the determined activities in better way. Here are mentioned some
methods which entrepreneur use for their work: Hard Working: It is one of fundamental traits where entrepreneur assist their operation
of business through working hard and optimising entire essence of available resources. It
stimulate employee for performing in their work as well.
 Full of Loss: Mark Zuckerberg has a good personality and better style of working other
than others. Though, he must have faced some conflicts or issues linked with time,
resources and money along with other scarifies for achieving the results. It motivate
employee for following and conveying morals and value of organisation and performing
the services in their best ways.
M3 Different lines of argument relating to entrepreneurial characteristics
Above mentioned report claims that there are different traits and characteristics which
assist an organisation in shaping their opinion and view. After exploring more in depth in the
entrepreneurship and entrepreneur concept, the major fundamental aspects raises that there are
various elements in entrepreneur which makes them different helping in achieving the success
rate. It affirms the major notion that every entrepreneur has basic as well as different approach in
regard of their business organisation as well as it is majorly influenced through the traits
character or the individual's personality that is structured by the span of time.
P7 Influences of personal background and experience to specific successful entrepreneurs
It has been recognised that background and historical experiences of an entrepreneur will
hinder or foster entrepreneurship in greater aspects. Thus, it can be said that entrepreneurship is
considered as an essential factor which is reckoning on the capableness and power of a person.
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There are different factors that would affect on the ability and skills of such individual which can
be better understand by below mentioned points :
Education : If a person receives higher education in their life regrading specific subject
then it is sure that they would try to innovate something. Education creates a feeling of
motivation or positiveness in mind of human, hence promote an entrepreneur to do something
unique and new.
Family background : This is other essential prospect of business that will straightly
effects the way of thinking of a person in effective manner. If they receives good challenging
family background then he would become familiar about the importance of money and attempt to
grab the same (Hlady‐Rispal and Jouison‐Laffitte, 2014). Thus, it could be stated that this factor
provides great entrepreneurs to the country.
Social network : If an individual has good societal contacts then will feel relaxed and try
to acquire various knowledgeable things from that group. This will assist in accomplishing
specific goal of an entrepreneur.
Economical Circumstances : At the same time, a person is being effected by his
financial situations. If they are not having adequate sum of revenue, then he will not able take
proper education and thus remain illiterate. This impacts negatively on them. But few or
exceptional people are also existing in this world. For them, it does not matter and attempt at best
level for completing their goals.
For instance, the family background of Marks Zuckerberg was not so much good. He
belongs to a middle class family and comprises of passion associated with his work. So many
discovering attributes are present in him. By these characteristics, he has easily achieved success
and development in his life. For doing the same, he also uses his effectual cognition and talents.
This has been observed that he was spending lot of time in gaining newer things and carried out
several experiments which is representing that he is of brilliant mind. He had developed popular
social media website titled as Facebook which is now being utilized by billion of people.
M4 Link between entrepreneurial characteristics and background and experience influences
The discussed report explores the major entrepreneurship concept by lighting over the
basics of entrepreneur and their backgrounds as well as experiences. Each negative and positive
attribute which an entrepreneur contain, is cause of their knowledge and past experience which
they accumulate by their experiences. As this concept affirm that life experience, their
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knowledge, and background has vast role in their formation of entrepreneurial venture. As per
the example of the undertaken entrepreneur, since they have the risk taking sills which is majorly
an acquired ability, in which they has the dealt with similar condition before in their business.
Hence, such elements not only shapes their views and decision making but also give them sense
of opportunities and better working skills.
CONCLUSION
It can be summarised that after the introduction of Brexit, UK has faced various issues
due to recession period. These are the entities which start a venture considering the failure and
organisation success probability and administrate their whole enterprise by themselves.
Entrepreneurship refer to the planning, functioning and launching procedure that help in
operating the new business which is often small companies. Small business enterprise has great
impact of the market of United Kingdom as this has rendered more opportunities of work and job
to the nation. Their traits, skills, behaviours, attributes are the elements which makes them more
different.
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REFERENCES
Books and journals
Alsos, G. A., Carter, S. and Ljunggren, E. eds., 2011. The handbook of research on
entrepreneurship in agriculture and rural development. Edward Elgar Publishing.
Audretsch, D. B., Falck, O. and Heblich, S. eds., 2011. Handbook of research on innovation and
entrepreneurship. Edward Elgar Publishing.
Awogbenle, A. C. and Iwuamadi, K. C., 2010. Youth unemployment: Entrepreneurship
development programme as an intervention mechanism. African Journal of Business
Management. 4(6). p.831.
Bruton, G. D., Ahlstrom, D. and Li, H. L., 2010. Institutional theory and entrepreneurship: where
are we now and where do we need to move in the future?. Entrepreneurship theory and
practice. 34(3). pp.421-440.
Desai, V., 2013. The Dynamics of Entrepreneurship Development Management: Planning for
Future Sustainable Growth. Himalayan Books.
Djankov, S., and et. al., 2010. The effect of corporate taxes on investment and entrepreneurship.
American Economic Journal: Macroeconomics. 2(3). pp.31-64.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Fayolle, A., 2013. Personal views on the future of entrepreneurship education. Entrepreneurship
& Regional Development. 25(7-8). pp.692-701.
Hlady‐Rispal, M. and Jouison‐Laffitte, E., 2014. Qualitative research methods and
epistemological frameworks: A review of publication trends in entrepreneurship.
Journal of Small Business Management. 52(4). pp.594-614.
Kiss, A. N., Danis, W. M. and Cavusgil, S. T., 2012. International entrepreneurship research in
emerging economies: A critical review and research agenda. Journal of Business
Venturing. 27(2). pp.266-290.
Schaltegger, S and Wagner, M., 2011. Sustainable entrepreneurship and sustainability
innovation: categories and interactions. Business strategy and the environment. 20(4).
pp.222-237.
Ziegler, R., 2011. An introduction to social entrepreneurship. Edward Elgar Publishing.
Online
Different types of entrepreneurship: What’s best for your business?. 2013. [Online]. Available
through:<https://www.marsdd.com/news-and-insights/different-types-of-
entrepreneurship-whats-best-for-your-business/>.
4 TYPES OF ENTREPRENEURSHIP. 2017. [Online]. Available
through:<https://www.horsepower.ph/blogs/4-types-entrepreneurship/>.
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