Entrepreneurship and Small Business Management

Entrepreneurship and Small
Business Management
(Task 2)

Introduction
Taking financial risks to increase the financial status of
a person by their innovative ideas can be stated as a
entrepreneurship. Entrepreneurs are having skills to
develop their own business ideas in actualization.

P3 Impact of the small business and
micro enterprises on the UK economy .
Most of the small business entrepreneurs use their
innovative ideas which staring their small business.
Enterprises which are working on the small scale and
having turnover less than 2 millions are consider as a
small scale enterprises.

P3 Impact of the small business and
micro enterprises on the UK economy .
Most of the small business entrepreneurs use their
innovative ideas which staring their small business.
Enterprises which are working on the small scale and
having turnover less than 2 millions are consider as a
small scale enterprises.

Continued...
Difference between small, medium and large
businesses on the basis of the support in the UK
economy:
Turnover

Continued...
Employment

Continued...
Growth

Continued...
Impact of the micro and small business enterprises:
After the recessional period in the world economy, micro
enterprises are having huge growth in their business.
 Support in economical growth

Continued...
 Balance in the economy

P4 Importance of the small sized business in the
growth of the social economy in the UK.
Social Economy: Joint venture of the private and
public sector to provide benefits and facilities to
society. Significance of the SME'S are described under
these points:

Continued...
Local level: On a district level it has a huge impact on
the economy and market. Some of the impacts are here
under these points:
 Jobs
 Skills

Continued...
Regional level: This is focused on a particular area
and it's economy where the SME'S are providing
support in the economy. It's brief are are explained in
these points:
 Economy rotation
 Revenue generator

Continued...
National level: On the national level, it is making
contribution in the economy and GDP. Some of the
impact are here:
 Increase in GDP
 Hike in Foreign Exchange
 Increase in employment rates

REFERENCES
Alsos, G.A., Carter, S. and Ljunggren, E. eds., 2011. The handbook of research on
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development programme as an intervention mechanism. African Journal of
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Barringer, B., 2012. Entrepreneurship: Successfully Launching New Ventures, (2012).
Bosma, N.S. and Levie, J., 2010. Global Entrepreneurship Monitor 2009 Executive
Report.
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?.
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Carsrud, A. and Brännback, M., 2011. Entrepreneurial motivations: what do we still
need to know?. Journal of Small Business Management. 49(1). pp.9-26.