Entrepreneurship and Small Business Management Introduction 3 Part 1 3 P1: Provide an introduction to the report by examining different types of entrepreneurial ventures and explaining how they relate to the typology (different types) of entrepreneurship. Entrepreneurial ventures are responsible for creating new job opportunity, adding the wealth to the economy of the country, and improving the standard of living in the individuals and leading to the creation of a society which is prosperous. This report also tells the details about the understanding of the type of environment which