Entrepreneurship and Small Business Management

Entrepreneurship and Small
Business Management

TABLE OF CONTENT
INTRODCUTION......................................................................................................................3
LO1............................................................................................................................................4
P1 Types of entrepreneurial ventures and relation to typology..............................................4
P2 Similarities and differences between entrepreneurial ventures........................................5
LO2............................................................................................................................................6
P3 Micro and small business impact on economy..................................................................6
P4 Importance of small companies and business start ups to growth of social economy......7
LO3............................................................................................................................................8
P5 Characteristics and traits, skills of successful entrepreneur’s differentiating form
business managers..................................................................................................................8
P6 Aspects of entrepreneurial personality reflect motivation and mindset............................9
LO4..........................................................................................................................................10
P7 Influence of background and experience of fostering entrepreneurship.........................10
CONCLUSION........................................................................................................................10
REFRENCES...........................................................................................................................11

INTRODCUTION
Entrepreneurship and small business management can be further analysed to be
widely crucial within recent time periods, where new functional rapid connectivity is coming
among new start ups and ventures. The report will be analysing types of entrepreneurial
ventures, analysing similarities and differences and aspects of economic impact they bring on

economic overall development within business. The report will further execute analysis
discussion on skills, traits among entrepreneurs and what factors further extend to bring
positive growth within economies. Study will further also expand analysis on working
specific requirements, towards shaping new strengths and how background, experiences have
impact on their future operations.
LO1
P1 Types of entrepreneurial ventures and relation to typology
There are various types of entrepreneurial ventures which can be analysed on basis of
their size, working competencies and towards rate of employments within workforce size
further also has specific role for wider scale expansion rapidly (Castro, Scheede and
Zermeño, 2020). Based on typology, ventures understandings can be done effectively, for
bringing on enlarged understandings and efficacy rise further for commercial levels actively.
UK has large number of entrepreneurial ventures, where based on typology relation can be
significantly analysed as follows:
 Small enterprises: The small businesses are based on few number of resources and
annual revenue than medium and large companies, where venture offers up pace
within business parameters. Capital investments within small enterprises are less and
limited investments further are some essential factors where small enterprises have
the working potentiality standards. Micro businesses and small scale businesses with
limited workforce come under this category where functional aspects of small
enterprises are also limited within business.
 Large enterprises: The large ventures and enterprises employ around 5000 or more
individuals on business platforms, where business scale resources are further
expanded commercially on wide levels. It can be also analysed that average of 7$
million annual receipts fall under this category, where they have significant rise on
productive engagement levels for stringent growth. Capital investments within large
enterprises are also widely expanded among commercial business domains , for
synchronising new goals variedly within competitive industry paradigms (Top 5
trends in the Indian Entrepreneurship sector for 2020, 2020).
 Social enterprises: The social and voluntary companies are start ups where main
purpose is to serve change within society and enhance wider scale consistencies