Entrepreneurship and Small Business Management

ENTREPRENEURSHIP AND
SMALL BUSINESS
MANAGEMENT

Contents
Introduction......................................................................................................................................3
Task 1...............................................................................................................................................3
P1 different kinds of entrepreneurial ventures and topologies of entrepreneurship....................3
P2 what are the similarities and difference between entrepreneurial ventures............................5
Task 2...............................................................................................................................................7
P3 interpreted the statics for showing the impacts of micro and small Enterprises on Economy
.....................................................................................................................................................7
P4 what are the importance of small business and business start-ups in the growth of social
economy.......................................................................................................................................8
Conclusion.......................................................................................................................................9
References......................................................................................................................................10

Introduction
Entrepreneurs are such individuals who set up their business while taking the financial
risk in the hope of profit. They are the people who used to invent and implement some of the
inventions into reality in order to satisfy the needs and wants of their targeted customers. They
are working in order to gain profit from it. The business entrepreneurs are used to start a small
medium on large scale business which is providing the support in order to develop the economic
conditions of the country (Albastiki and Hamdan, 2019). The report is being discussed about the
different types of business ventures and the topologies what's the similarities and differences
between such Ventures in the competitive market. The data is also discussed which shows the
impact on micro and small business Enterprises on the economy. The importance of small
business in a startup in order to grow along with the characteristic traits and skills which are
required by the entrepreneur in order to get successful in the competitive market. Lastly the
different aspects of intracranial personality which reflect the motivation and mindset along with
the background and experience which is possessed by them so that they can become a successful
entrepreneur in the Marketplace while delivering their products and services to their targeted
customers.
Task 1
P1 different kinds of entrepreneurial ventures and topologies of
entrepreneurship
Entrepreneurs are those individuals who used to innovate something with respect to their
products and services into reality. They are developing a new business enterprise where they
used to supply their goods and services to their customers in order to increase profitability from
them. They are working to earn their livelihood. There are many types of business ventures
which are differentiated on the basis of their service, scope, size and purpose.
Entrepreneurial activity
These are such activities which help companies to operate their business functions in
order to increase profitability from the market. The organisation used to explore their innovative
idea into the competitive market which helps them to increase the growth and develop their

Ventures (Badri and Hachicha, 2019). They're working to satisfy the needs and wants of the
targeted customers for whom they are working.
Different types of ventures
Small business: these are the Enterprises which have a limited amount of employees.
They are at the small level of businesses in which they have limited capital in order to have a
smooth functioning of the organisation. The main aim behind these organisation is to provide
their goods and services to their targeted customers so that they can earn their livelihood in an
easy manner. These kinds of business Enterprises are generally under the sole proprietorship and
partnership firm. These organisations have invested less capital and less than 50 workforce who
are working to attend the set targets (Barber and et. al., 2020). The net worth income of the
organisation is£2 million. For example barber shop, boutiques, grocery stores, vegetable stores
and others.
Large company: these are some of the organisation who have finite amount of life cycle.
The company used to develop their innovative idea into reality and works in order to sustain their
innovations. They have employed more than 50 work force. These organisations are operate
without any boundaries and can expand their business over the seas. Your organisation used to
develop Different techniques in order to sustain their growth in the competitive market. There
are several big enterprises in in United Kingdom such as Marks and Spencer, big belly, Tesco in
many others.
Social enterprise: these are the organisations which are formulated in order to to uplift
the society. The organisation uses different innovative ideas and techniques in order to developed
there goods and services for the benefits of society. These organisations or not working in order
to gain profitability from the competitive market but they are working to provide better services
in order to develop the standard of people. These kinds of organisation used to focus on child
labour, save water, save children, pollution and many other activities which are harming the
society.
Typologies of entrepreneurship
Entreprenurs of ventures has different kinds of typologies which are used by the
entrepreneurs in order to develop their Organisation in an better manner. These activities are
used to run their business in better ways. Those typologies are mentioned below: