Entrepreneurship and Small Business Management

Entrepreneurship and Small
Business Management
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Table of Content
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
P1 Types of entrepreneurial ventures and typology of entrepreneurship....................................3
P2 Similarities and differences of entrepreneurial ventures.......................................................5
M1 Diverse range of entrepreneurship in both public and corporate sector...............................6
D1 Scope, development and growth of entrepreneurial ventures................................................6
LO2..................................................................................................................................................7
P4 Importance of small business and start ups for growth of social economy..........................8
LO3..................................................................................................................................................9
P5 Characteristic, traits and skills of successful entrepreneurs..................................................9
P6 Aspects of entrepreneurial personality reflect on motivation and mindset..........................11
LO4................................................................................................................................................12
P7 Background hinder or foster entrepreneurship.....................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15
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INTRODUCTION
Entrepreneurship and small business management can be understood to be widely one of
the most widely grown concept among new horizons world for keen active evolving factors
of business within world. The report will be analysing various types of entrepreneurial
ventures and typology scenarios where there are larger goal formulation diversity, and also
study will be widely analysing focus on various impacts of start ups and small business on
social UK economy. The report will further bring various data and statistics of impact and
employment rise within varied scenarios and what are the most profound skills among
entrepreneurs. Study will be also analysing discussion of varied aspects of innovative
impacts on smart productivity scenarios and overall functional growth among successful
entrepreneurs. There will be also determinants analysis developed on how entrepreneurs
background hinder or foster business growth objectives which will evolve on new domains of
stronger working growth .
LO1
P1 Types of entrepreneurial ventures and typology of entrepreneurship
There are various types of entrepreneurial ventures which can be divided and segregated
based on functional aspects of wide productive services and new innovative products which
enable diversity and varied goals to be framed among business scenarios. Types of
entrepreneurial ventures can be segregated based on varied functional paradigms which are s
follows:
Public companies: The public companies are wide in working scenarios where capital
investment is wide within working scenarios and also shares are open for public to invest in
where there are large growth avenues for further expansion. Public companies are open
among people to invest shares in where there are varied goodwill measured , capital invested
widely and also there is large technical innovation underlined. The public companies have
wide expansion on varied domains of stronger working innovation synergy, higher growth
scenarios to be actively developed on and larger new technical strength. Example : Tesco is
one of the biggest public company within UK retail sector whose productive supply factors
are stringently wide, and also active targetted growth parameters are analysed (Henrekson
and Sanandaji, 2020).
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 Private companies: The private companies are firms where shareholders are the
capital investors in framing positional service metrics, high keen growth worked on
and also wide use of varied capital range can be put in potential utilized domains. In
private companies no outsiders can invest within shares as shares are not open for
public to invest in and also only internal shareholders have functional role to take
active part among decisions. The private companies are also highly innovative and
functionally advanced when it comes to bringing on new skills and parameters of
efficacy at roles where there are stronger determinants of new goal formulation
within varied services. Aldi is an example of private company in UK having large
number of capital structure and goodwill horizons widely worked on varied domains
of stronger synergy aspects (Anderson, Wennberg and McMullen, 2019). Voluntary companies: The voluntary companies refers to firms whose main purpose
is to create social impact within society, rather then profit paradigms where the
varied parameters of services are based on new growth aspects of larger new
functional innovative diversity. The voluntary companies are widely active for
bringing on change within society and better living scenarios, where Red Cross is one
of the biggest voluntary company at world level.
Ventures based on typology Survival firms: The survival firms are small in size where they are focused on cutting
costs and tightening profit margins where growth mode is limited to be worked on
and also company business goals are interrelated with structure factors. High tech firms: The high tech are large in size where there are varied large number
of innovations and new keen efficacy paradigms for overall growth scenarios and
keen working productivity and diversity aspects. The high tech firms have large
capital range to be formed on, where there are keen scenarios to be analysed on
which will keenly bring on digital functional diversity at stronger range of new
functional innovation.
 Lifestyle ventures: The lifestyle ventures are business set up firms where founders
run businesses widely with aim of sustaining definite level of income and creative
services for better functional diversity scenarios on larger aspects (Audretsch,
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