Entrepreneurship and Small Business Management

Entrepreneurship and Small
Business Management

EXECUTIVE SUMMARY
Small, medium and micro enterprises have put huge impact on the UK economy. It has provided
job opportunities to people and also been engaged in enhancing the lifestyle of people living over
there. There are various skills and traits of entrepreneurs that has differentiated them from
business managers. Traits such as honesty and integrity, communication and decision making
have foster the growth of entrepreneurs.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
P1.Types of entrepreneurial ventures.....................................................................................4
P 2 Differences and Similarities between Entrepreneurial Ventures....................................6
P 3 Impact of Micro and Small Entrepreneur Businesses on Economy.................................8
P 4 Importance of SME in Growth of Social Economy.........................................................9
Task 2...............................................................................................................................................9
P 5 Characteristic Traits and Skills of Entrepreneur..............................................................9
P 6 Asses how aspects of the entrepreneurial personality reflect entrepreneurial motivation
and mind set..........................................................................................................................11
P7 Examine using relevant examples, how background and experience can hinder or foster
entrepreneurship...................................................................................................................13
Conclusion...........................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Entrepreneurship is action which creates a new business where group of peoples and
individuals stay and work together and take step into making the world better place. To build a
better world where everyone feel good. Entrepreneurship is setting business on your own and
starts a business where there is no other boss and they work instead of working for someone else.
Under this entrepreneurship there is new term which introduce entrepreneur is an individual who
Is the one started the enterprise and one who had creative idea to do something new, innovative
and who is always willing to take risk. There are various Enterprise includes small business,
medium business and large business. Entrepreneurship always focuses on the goals of achieving
profits in the competitive markets beyond the emotions of the entrepreneur. Entrepreneur is the
individual who is always ready to take risk and generates creative ideas and innovation which
leads them towards the bright future.
A small size businesses are not always focused on profit generation they work as small business.
This report also the brief study about the roles and responsibility of entrepreneur and nature and
techniques of small business and what are the tools and techniques they follow for surviving
there enterprises in the market. Report will highlight the various types of entrepreneurial venture
TASK 1
P1.Types of entrepreneurial ventures
There are few types of entrepreneurship which are Small, medium and large
entrepreneurship plays an important role in the contribution of the economy in different levels of
the economy like local, regional and national it will increase the growth of economy and help the
country to increase gross rate on domestic product in these levels.
Large company entrepreneurship: large-scale entrepreneurship always give special
importance on the success and the growth which helps them to earn more revenue and
profitability as long term in the business environment(Volery and Mazzarol 2015). the
developing the new ideas, techniques, innovation for achieving the profits of the company, due
the entrance of globalization and digitalisation faces lots of problems for large scale
entrepreneurship.
Social Entrepreneurship: for the social, culture and environmental issues which is taken by the
start-up companies and entrepreneurs . Social entrepreneurship is a approach which help the