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Report on Importance of Entrepreneurship

   

Added on  2020-06-03

15 Pages4423 Words63 Views
ENTREPRENEURSHIP AND SMALL BUSINESSMANAGEMENT

Executive summaryIn this report, the importance of entrepreneurship has been discussed. It plays the relevant role toraise the economy of the country. The Brexit has the effective opportunity for the small-mediumventure of UK to achieve the success in the market. It reduces the unemployment, maximises theon opening and proved effective benefit to the local people. Here the example of two people istaken Sir Richard Branson and Muhammad Yunus has been discussed to support the answer. Page 2 of 15

Table of contentPage 3 of 15

IntroductionFor the growth of the economy of the country, entrepreneurship is considered as one of the mostimportant engine. Moreover, the entrepreneurship tackles all the risk with the aim to earneffective profit, it the process to set up and run the business identically. In this report differenttype of entrepreneurship is explained along with it relation to typology entrepreneurship. It hasbeen argued effectively that for the economic growth of the country, entrepreneurship play thevital role. In order to support this viewpoint, it has been observed that some of the countries haveexperienced the effective reduced in the poverty in last three decades. Apart from this, the hard-working, sincere and dedicated person is also vital to be a successful entrepreneur. In this reportSir Richard Branson and Muhammad Yunus example have been considered. Hence in context tothese the government of UK is promoting the concept for post Brexit economic development andgrowth. Furthermore, in this report the ample amount of information is discussed that is quiterelevant for anyone to become successful entrepreneur (Schaper et al. 2014).Part 1P1 Type of entrepreneurial venture and the relation with various type ofentrepreneurshipEntrepreneurial venture is divided into four categories among them small businessentrepreneurial venture is one of them. The society consisted of people that are determined ormotivated to start something to earn the effective profit. The other three entrepreneurial venturesare large company entrepreneurship, social entrepreneurship and scalable start-upentrepreneurship. Furthermore, there is some of the e-commerce start up within the society thatinspires the people to start something new. Some of the example of small-medium such asgrocery shop and cyber cafe, some of the entrepreneurial venture has the aim to bring innovationin the present society by modifying the entrepreneurial venture. Moreover, this type ofentrepreneurial venture chooses the best employees from the market to work and achieve theidentical goal in the competitive market. Skeptical entrepreneurial venture designed their productand service based upon the innovative ideas. The research entrepreneurs venture is quite similarPage 4 of 15

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