Entrepreneurship and Small Business Management

Entrepreneurship
and
Small Business
Management

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
P1.Different types of entrepreneurial ventures and their relation with typology of
entrepreneurship.....................................................................................................................3
P2.Similarities and differences between entrepreneurial ventures.........................................4
TASK 2............................................................................................................................................6
P3.Interpret and assess relevant data and statistics to illustrate how micro and small businesses
impact on the economy...........................................................................................................6
P4.Importance of small businesses and business start-ups to the growth of the social economy
................................................................................................................................................7
TASK 3 and 4 .................................................................................................................................7
Covered in PPT.......................................................................................................................7
CONCLUSION ...............................................................................................................................7
REFRENCES...................................................................................................................................8

INTRODUCTION
Entrepreneurship refers to a procedure in which an individual design, launch and operate
a business venture which can be small or medium. This is established by a person in order to
fulfil need and requirement of customers so that they able to generate high profitability ratio.
Entrepreneur can be introduced for profit motive or non profit motive, it is based on aim as well
as objective of a person who is opening it (Burns and Dewhurst, 2016). Topics which are include
in this report are various type of entrepreneurial business or unit along with its typology and it
will also explain similarity as well as difference among entrepreneurial venture. Along with this
it will explain some small and micro business venture which will contributing in economy
growth and this will also include several skills as well as traits of a successful entrepreneur.
Moreover this will discuss about various traits and skills which is required in order to become a
successful entrepreneur reason who their background and experienced help them in becoming
successful.
TASK 1
P1.Different types of entrepreneurial ventures and their relation with typology of
entrepreneurship
Entrepreneur refers to a process which encourage a person in developing a new business
venture so that they can serve the society in order to fulfil need and demand of customers in
proper and effective way. Moreover when a person start a new business they have to conduct
various things such as such as analysis market, develop strategies, products and services, analysis
capital and so on (El Ebrashi, 2013). Along with this they also face various risk which are related
to dissatisfaction of customers, financial risk and so on. There are diverse kind of entrepreneur in
a marketplace, some major of them are explain below:-
Type of Entrepreneurial venture-
 Large enterprises: There type of venture are based on large scale and they required huge
amount of fund so that they can offer products and services accordingly. They generally
provide expensive and luxury products for fulfilling need as well as requirement of
customers in proper way. Moreover they design products according to latest trends of
marketplace.