Entrepreneurship and Small Business Management

ENTREPRENEURSHIP AND
SMALL BUSINESS
MANAGEMENT
LO 3 and 4

Introduction
• Entrepreneurship is the dynamic process of creating or innovating new things in
order to attract customers. A business concern innovate new products and
services by taking risk within organization.
• The main aim of entrepreneur is to introduce from new product and services for
influencing the people and increase the profitability.
• Entrepreneurs are the backbone of economy who generates more revenue and
contributes for social economy. This PPT reflect about how micro and small
business impact on economy and importance of small and start up business.

Characteristics, traits and skills of successful
entrepreneurs
• In order to analyse the traits, skills as well as characteristics which set apart such
individuals from the class of business managers, the works and contribution of
Richard Branson and J. K. Rowling have been discussed as under:

Characteristics
• Belief: One of the characteristic found among successful entrepreneurs is their
strong belief in the work or project they undertake to complete.
• Ability to undertake risks: Another distinct characteristic found to be common
among successful entrepreneur all around the world is their ability to undertake
risks, business or financial.