Entrepreneurship and Small Business Management

ENTREPRENEURSHIP
AND SMALL BUSINESS
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
Different types of entrepreneurial ventures and how they relate to typology of
entrepreneurship.....................................................................................................................3
Differences between entrepreneurial ventures. .................................................................4
Interpret relevant data and statistics to illustrate micro and small business impact on UK
economy.................................................................................................................................6
PART B ...........................................................................................................................................8
Characteristics, skills , motivational drivers of an entrepreneurs with example.............................8
Characteristics of the entrepreneur personality reflect entrepreneurial motivation and
mindset.................................................................................................................................10
Background and experience can hinder and foster entrepreneurship...................................12
CONCLUSION .......................................................................................................................13
REFERENCES .............................................................................................................................15

INTRODUCTION
The entrepreneurship and small business management sequences offer a different learning
experience to the student and fresher who wants to start a new business in the market (Ruef,
2015) This reports reveals the different types of entrepreneurial venture and it relates to typology
entrepreneurship and also shows the similarity and different entrepreneurial ventures. And also
interpret relevant data and statistics to illustrate micro and small business and has its impact on
UK economy and the important of small business and start up to the growth of social economic.
Study identifies the traits and skill of successful entrepreneurial that differentiate from other
business and how the aspects of the entrepreneurial personality reflect the entrepreneurial
motivation and mindset.
PART A
Different types of entrepreneurial ventures and how they relate to typology of entrepreneurship.
Entrepreneurial ventures is focused on providing advisory services to early and mid-
stage companies.
Types of entrepreneurial ventures-
There are various Types of the ventures such as Small ventures , Micro enterprises and Gazelle
venture.
SMALL VENTURES
Majority of the small business are also still small businesses as they are considered to
most profitable as they makes the profits only for living purposes and support their families.
Examples consider to the lack of the business entrepreneurship are grocery stores and
electricians as well as carpenters etc. For the entrepreneur that are based on Stable income
stream venture on a business model with modest reinvestment but with difficulty accomplishing
scale within operations. These kinds of the ventures needs the modest reinvestment but at the
same time it achieves difficulty in operations. Here the path of the growth is small but sometimes
it is considered as the backbones of a community for the services and products (Aldridge and
Audretsch., 2017). Like for example Barber shop, Grocery shop can be termed as the best
example for small enterprise.
MICROENTERPRISES
They are the ventures that have no capacity to reinvest. They are also known as the micro
business as the employs a small number of the employees such as not more than ten people and

also they start their business with the small amount of investment that can be advanced from a
bank or from the other firms . These micro enterprises specialize with providing services and
goods for the local regions. Objectives of the Micro-enterprises are given below
 To improves the living conditions of the people of a nation and also improves their
lifestyle where they live and work.
 To bring the backward areas in front of the national development members also thy
promote regional development from this kind of venture (Viinikainen. and et.al., 2017).
Like for example sole proprietorship, partnership can also be termed as micro enterprise.
In this all single owners work only for sole aim of earning profit. They work for their
growth.
MEDIUM-SIZED VENTURES:
Business model that sometimes come up from an earlier, smaller venture. These are the
ventures that can experience moderate but at the same time planned growth over the time with
lots of opportunities . The growth path of this venture is also depends on the regional growth.
They able to find out the unique market that able to expand the employment opportunities and
in addition to this generate Tax base, discretion ans entrepreneur economy.
GAZELLE VENTURE
They are considered as the Fast-growth ventures which begins out seeking markets for
an exponential growth path. Basically funded by equity capital with a national or global market
highlights for greater expansion capabilities.
They are the kind of the ventures that defines as the High growth company. They are
considered as the high growth company that enhances its revenues at-least 20 percent. Here the
growth period is almost double over a four-year period. They are the companies that are
characterized by the rapid growth rather than the absolute size as their range is from small
companies to the very large companies (Burns and Dewhurst eds., 2016)..
Aggressive growth venture
They are those business which is set up on technological basis. It consists of high risk as
there is higher potential for growth. They are usually funded by equity capital. The purpose of
this type of venture is to earn extremely high amount of profit and gain competitive advantage.
Darktrace is the aggressive growth venture s(Viinikainen. and et.al., 2017)..
Survival venture