Review of Entrepreneurship Research Papers

The provided document is a compilation of several entrepreneurship research papers, including studies on the impact of unemployment and income on entrepreneurship in post-apartheid South Africa, entrepreneurship management skills requirements, regulatory modes and entrepreneurship, women entrepreneurship in South Africa, and the role of competencies in business success. The document also covers topics such as social entrepreneurship, small business and entrepreneurship in economic and social development, and the future trajectory of entrepreneurship.

Entrepreneurship and Small
Business Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P.1 Different types of entrepreneurial venture and link with typology's................................1
P.2 Similarities and differences between entrepreneurial ventures........................................2
M.1 Entrepreneurial ventures to demonstrate an understanding of entrepreneurship............3
D.2 Development and growth rate..........................................................................................4
TASK 2............................................................................................................................................4
P.3 Micro and small business impact on the economy...........................................................4
P.4 Importance of small sector organisation..........................................................................6
M.2 Small, medium and large businesses make to the economy...........................................7
D.2 Critically examine how small businesses have an impact...............................................8
TASK 3............................................................................................................................................8
P.5 Characteristic traits and skills of successful entrepreneurs..............................................8
P.6 Entrepreneurial aspect's personality reflect entrepreneurial motivation..........................8
M.3 Explore and examine different lines of argument relating to entrepreneurial................9
D.3 Analyse the characteristic traits, skills and motivational drivers....................................9
TASK 4............................................................................................................................................9
P.7 Background and experience can hinder or foster entrepreneurship.................................9
M.4 Analyse the link between entrepreneurial characteristic..............................................10
D.4 Evaluate how background and experience ...................................................................10
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
An entrepreneur is a person who is the proprietor of a new undertaking, venture or
thought and is accountable for the inherent risks and the outcome (Ribeiro-Soriano 2017).
Entrepreneurship is the enactment of being an businessperson, which can be characterized as one
who undertakes introduce, plan for finance and business insights. This report is focused on
ENSOFT LTD. which is a Small sector administration and is located in United Kingdom. It
provides different cutting-edge software that runs in the core of the internet, to keep the world
connected. This written report is supported on exploring the range of business ventures
accessible to entrepreneurs. Further, it assesses the impact of small business endeavour on the
economy. Moreover, it will assess the entrepreneurial mentality and examine antithetic surround
that foster and hinder entrepreneurship.
TASK 1
P.1 Different types of entrepreneurial venture and link with typology's
Entrepreneurship : The activity to setting up the business, talking on financial risk in
the hope of profit. Entrepreneurship as one of the fewest originative plan of attack towards the
business and enterprise activeness to organize, carry off and lead grouping within the
organization towards the organizational end (Linton, Solomon and et.al,. 2017). It is also
essential an effective entrepreneurship will bring forth affirmative occurrence and betterment for
the scheme.
Entrepreneur : A businessperson supply risk capital or a risk taker, monitor and
controller the business concern activity's. The enterpriser usually sole proprietor and partner or
the one who owns the bulk of shares in an incorporated venture. In addition, entrepreneur should
have during the commercial activity, in order to bring command and harmony to the chaos, this
affect all the risk that are concealed in the commercial enterprise and marketing human action.
One of the most crucial part that businessperson is used creativeness and innovations, which is
turned part the growth rate in market place (Mahadea, D 2018). There are some different kinds of
entrepreneur venture are as follows :-
 Life style entrepreneurship :- In life cycle entrepreneurship speculation is give direct
impact of internal state of affairs of organisation. In this context, acquire growth as well
as sustainability through synthesizing new services and merchandise, and also through
with the business concern of the persisting products and services respectively. Life style
1

entrepreneur does not seek investor as they operate their own business with their own
medium of exchange.
 Scalable business start-up venture : The undertaking that have a global dynamical
modification entire small sector business concern. This type of businessperson venturer
focus more on the quality and creative aspects of small sector business (Mamabolo, M.A
and et.al,. 2017). The main aim of such business is indicated the financial investment and
the venture capital of fund.
 Social entrepreneurship: In social entrepreneurship is to evolve the production and
employment for betterment, progress of people and societal system. The entrepreneur of
this firm is focus on produce and instrumentation product and services that would be lead
to effective social group. This will give direct impinging on betterment of the people.
There are some typologies of entrepreneurship are as follows :
 Individual Entrepreneurship : Individual Entrepreneurship is autonomous and initiative
act of citizen of commonwealth and primary aim is to obtain net financial gain, based on
the geographical area of individuals themselves and carried out on position of
individuals, for their hazard and under their property obligation.
 Corporate Entrepreneurship : It is a cognitive process used to formulated new business,
commodity or employment inside of an existing arrangement to make over value and
bring forth new revenue (Laukkanen, M and et.al,. 2018). In this context of use, invention
and development one of the most of the essence part for new evolution of small sector
commercial enterprise.
P.2 Similarities and differences between entrepreneurial ventures
The similarities and difference between entrepreneurial venture are as follows :
Topic Social entrepreneurial venture Life style venture
Investment Social entrepreneurial activity
is seek to the investors,
because, businessperson is
dilated business concern form
the first network and need
investor to commit money.
Life style entrepreneur does
not seek investor as they causal
agent their investment.
2

Exit strategy Social entrepreneur is always
has an exit plan of action.
Life style entrepreneur is does
not have any exist plan and run
small sector business with
passion.
Location Social businessperson is
limited in object (Amato, C
and et.al,. 2017).
In life style entrepreneur does
not set any physical object, as
they focusing on all single part
of business concern.
Profit seeking In this context, social
entrepreneur is always focused
into profit.
Lifestyle entrepreneur does not
run after profit as they ruin
their business.
Donation Social entrepreneur is donated
some part of profit to poor
people, when they will be rich.
Life style entrepreneur does
not believe such kind of
activity in small sector
business.
Organisation goal Social entrepreneur focus to-
words organization goal.
Life style entrepreneurship
does not concentration as
smartly social
entrepreneurship.
Making corporation Social entrepreneur usually for
house level.
Life style entrepreneur does
not movement to kind firm.
Organisational structure Social entrepreneur internal
construction goes under some
procedure and adjust.
Life style businessperson does
not utilization any special
construction.
Working hour Social enterpriser is ready to
work redundant hour for same
other payment.
Life style entrepreneur
maintain work life balance.
3

M.1 Entrepreneurial ventures to demonstrate an understanding of entrepreneurship
Social entrepreneurial activity is seek to the investors, because, businessperson is dilated
business concern form the first network and need investor to commit money. Life style
entrepreneurship does not concentration as smartly social entrepreneurship.
D.2 Development and growth rate
Social entrepreneur internal construction goes under some procedure and adjust. In
addition, initiative act of citizen of commonwealth and primary aim is to obtain net financial
gain, based on the geographical area of individuals themselves and carried out on position of
individuals, for their hazard and under their property obligation.
TASK 2
P.3 Micro and small business impact on the economy
Small scale business are supported in a significant growth in the country of UK.
SMEs stands for small and micro enterprise. In this context micro, small and medium businesses
are states as :-
 Micro business – In these types of organisations there are employee not more than 10 and
turnover not exceed £2 million.
 Small businesses – It includes that type of businesses which have not more than 50
employees and turnover not exceed £10 million.
 Medium businesses – In this there are employees number less than 250 and turnover £10
million.
Impact of SMEs has been measured worldwide. It plays a major role in employment, catalysts of
growth, economic growth, community organisation, innovation and skills and development. It
generates a large part of new jobs and it increases the employment in organisation that will help
in economic development (Irene, B.N 2017). Due to increase in globalisation, small businesses
increased and such firms contribute to the economy at enhance level.
It occupies a particular place of pride in economy of every state and every nation. SMEs
are seen as an important medium for accomplishing the national economic objectives of poverty
reduction and new employment generation at very low cost. There are many benefits of SMEs in
their nation's economy in which they are situated. In benefits these things are included that are
better infrastructure facility, better supplies of items produced, distribution process stemming
from rural to urban areas, improvement in living standard of employees and also those persons
4

who are directly and indirectly related with them. One of the main understanding for this
phenomenon is the country political and economic condition that is favouring the beginning as
well as development of this establishment.
The strong economic condition in UK for small business enterprise overall industry
growth rate. It is estimate that more than 28 thousand million people are employed under small
sector organisation (Saleem, M.A 2017). It is also essential to mean the fact that the overall
business organisation development of the small scale is surging, in examination to the big
establishment in UK. In small sector three most important industry's are hospitality industry, real
estate industry and whole sale industry. In the same way, this three industry is maximized
number of start up are opening at UK.
Smaller scale and independent company is give coordinate effect on financial
improvement of association. Then again, smaller scale little area association is help to enhance
the financial state of workers with the assistance of increment business open doors for poor or
uneducated individuals. This is help to enhance the state of smaller scale condition and level of
generation will be increment in commercial centre (Dees 2017). Expansive undertaking honer
high financial framework to set the perspective which earned all together way.
Propel, business concern likewise ordered in, nearly nothing and normal size based on
utilize structure and predominant firmly held by the firm. Private game plan have additionally
solid nature to procure propelled benefit and gross with sole restrictive so get the financial
explanation so it can be measure accommodating.
 Occupation creation :- In work creation is an arrangement of new open doors for paid
business and largely the individuals who are jobless in work put. This little segment
association is help to improvement of new occupation in market and help to evacuate
joblessness structure and lessen joblessness rate in monetary condition (Fayolle, A and
et.al,. 2017). Occupation creation is a positive effect and increment the level of execution
in advertise.
 High labourer profitability :- In this factor is to be centre around the proprietor is greater
directivity contribution in business. It is help to proprietor and trough can check
effectively the efficiency of representatives in work put. It is help to spare cost in
association.
5

 Joblessness diminished :- In this factor miniaturized scale and private venture is help to
decrease the joblessness and increment the level of execution in showcase. Tread
advancement board is help to present new occupation and adjustment the level of work
for financial improvement (Schenk 2017). The independent company development in a
nation is managed both economical advancement in business age and long haul
development frame government in work creation programs.
 In this suit independent company have created 64 % new employment in advertise and
paid 54 % in joined state private pay roll. It is about essential factor to uncertain amount
the level of conveying vigorously and kept up the development rate in advertise. Smaller
scale and private venture is give positive effect on the level of execution and kept up the
development rate. In financial condition business cycle in give good and bad times in
showcase. In this factor monetary factor is centre around occupation, generation and deal
in commercial centre. Each such factor is help to kept up the development rate and
increment the level of execution.
P.4 Importance of small sector organisation
Small business in UK play very important role in economic growth and sustainability of
country. A larger percentage of population within UK are to be employed or in order to word
working in small sector business organisation. This small business are like a core generator of
employment in industry. Some other conditions are to be flow of cash become more effective in
economic situational. In private venture association is help to enhance monetary condition, with
the assistance of various factor in organization. Private venture is give some change in future
changes and adjustment productiveness and lessen the level of joblessness. It is assumed the real
part to expand the development of the monetary movement (Dugguh 2017). What's more,
increment riches appropriation, change of state in the public area, enhance salary level of needy
individuals, change level of working condition and so on. On the opposite side, Start-up and little
business concern likewise decides efficacious result in the political unit through compound GDP
of the authoritative division.
It is the champion prospect which movement to supply more possibility in the regional
division for their change. This is to be help the adjustment in the money related asset for the rule
of riches and enhance state of in reverse individuals. There are general improvement of plan
condition will be common occasion, however it will set aside opportunity to advance little area
6

business and inconclusive amount efficiency by and large at work situation. Moreover, Small
business venture is give few transmutation in prospective event and adjustment fertility and cut
back the level of business.
 Commitment :- In this setting is centre around the Little Enterprise Administration, little
venture speak to 99.7 extent of all pioneer hardened. It is help to made greater
improvement and present new market in the public arena (Nabi 2017). Belt Road
Initiatives incorporate outside fund direction, antitrust right, assess, nearby utilize and
circumstance laws in environment factor.
 Financial development :- In this setting monetary development is most imperative for
future improvement. Along these lines business visionary is utilized advancement and
new strategies help influence monetary improvement by outfit work probability to
individuals who may not be specialist by greater business firm. On account of belt street
activities is help to build exporter to BRI nations (Struwig 2017). Along these lines,
advance mechanical confinements and help to coordinate interest in advertise. All such
sort of factor is help to financial advancement and help to jobless individuals.
 Future development :- In this setting business person is centre around inconclusive
amount the level of conveying without hesitation and saved the commercial centre.
Utilize advancement and systems is help to future improvement in showcase. Belt Road
Initiatives prime case of how a little undertaking thought would modification be able to
the world. Independent company association that develop into extensive endeavour
regularly stay in the collection in which the venture was first acknowledged.
Many of the little business concern, which became booming and also future, are opening up
significant possibility for the local and regional population of UK. On the other hand,
information and data formulation is clear that small business are main component. This is
important for economic growth. New jobs and new opportunities are getting crated by small
business, which is turn contribute the economic maturation. This is to be focus on understand the
facts about contribution of bigger economic growth of the administrative district itself.
M.2 Small, medium and large businesses make to the economy
Smaller scale and independent company is give coordinate effect on financial
improvement of association. Then again, smaller scale little area association is help to enhance
7

the financial state of workers with the assistance of increment business open doors for poor or
uneducated individuals.
D.2 Critically examine how small businesses have an impact
Monetary development is most imperative for future improvement. Along these lines
business visionary is utilized advancement and new strategies help influence monetary
improvement by outfit work probability to individuals who may not be specialist by greater
business firm.
TASK 3
P.5 Characteristic traits and skills of successful entrepreneurs
In this setting a few aptitudes of the fruitful business visionary and help to improvement
of nature in showcase. A business person is just individual is centre around more advancement in
market and improvement of association condition (Kuratko, D.F and et.al,. 2018). Along these
lines abilities of a fruitful business person is entirely unexpected shape supervisor aptitudes in
association. Abilities of effective business person are as per the following:-
 Hazard taking :- In this setting business person is a man who go out on a limb in new
association and private company association. To go for broke in business is help to settle
on new choice particle work put. In this setting business visionary is centre around new
business and uncertain amount the plane of conveying enthusiastically in commercial
centre and go for broke for future improvement in showcase. A business person must go
for broke for effective business wander in market and help for future improvement.
 Relationship :- In this setting business visionary is a man centre around connection
between workers in association. In association representatives relationship is help at the
season of advancement in market, profitability and inventiveness and so forth in all such
recorded relationship of workers in work put is must.
 Imagination and development :- In association business visionary is individual who
centre around new inventiveness and advancement is work put (Ribeiro-Soriano 2017).
With the assistance of imagination and advancement is help to present new things in
market and increment client movement. Business visionary is had uncommon abilities
and ability like imagination in work place and help to improve the work encounters.
8

P.6 Entrepreneurial aspect's personality reflect entrepreneurial motivation
There are various different elements of successful entrepreneurial are help to change
mind set. It inculcated to risk taking, innovate, development and implementation of different new
business ideas. This is help to better administration skills and dynamic leadership skills. The
individual who are bought up in a state of affairs of creative thinking and exemption have shown
outstanding traits of leadership and administration, then that of the idiosyncratic who are born
and bought up in strict childhood environment. Some changes are made for long period as per
the demand and increase overall working state of affairs. It is also important that this individual
poses the contribution for economic conditions of environment, which is turn subscriber to
general mind set and above all towards businessperson mind set.
 Positive thought :- In this context, entrepreneur is a person who think positive and
implementation each activity in right way. Positive thinking is a mental attitude in which
aspect good and favourable result.
M.3 Explore and examine different lines of argument relating to entrepreneurial
To go for broke in business is help to settle on new choice particle work put. In this
setting business visionary is centre around new business and uncertain amount the plane of
conveying enthusiastically in commercial centre and go for broke for future improvement in
showcase.
D.3 Analyse the characteristic traits, skills and motivational drivers
This is help to better administration skills and dynamic leadership skills. The individual
who are bought up in a state of affairs of creative thinking and exemption have shown
outstanding traits of leadership and administration, then that of the idiosyncratic who are born
and bought up in strict childhood environment.
TASK 4
P.7 Background and experience can hinder or foster entrepreneurship
The approaches of each and every entrepreneur is different when it comes to business or
take a new decision making. This such kind of difference between the personality traits and
entrepreneurial characteristic. In addition, education and life experience is most important part in
hinder entrepreneurship. Moreover, attribute such as self-motivation, self-management and
skilfulness is essential in a businessperson and they are copied from component such as teaching
9

and life inexperience, since it is these feature that make the single to stand out the state of affairs
in the manner. There are some major examples of the biggest entrepreneur are as follows:
 Jack Welch : Jack Welch is an American retired business executive and chemical
engineer. He was chairmen and CEO of general electronic. The main motive of life is
innovation and economic development (Ribeiro-Soriano 2017). Throughout his early life
in middle school and high school, Welch found work in the sum of money as a golf
caddie, newspaper delivery boy, shoe salesman, and drill press function. One of the most
important part is improved overall work in shot period time period with effective way.
 Richard Branson says that his hazard taking quality is mainly formed from his
experiences, since he believes that with each state of affairs a possibility and knowledge
opens up for the single. Assessing his positive view or the fictional character towards the
business concern, it changes state clearer that this was formed through the instruction or
the cognition he received through the life education. This is help to improve current
market level as well as future outcomes. One of the most important factor is taking risk in
new area of business. Risk is one fundamental factor, entrepreneur is only person who
take risk in every small sector business. In addition, risk will be improve overall
development and increase profit in market rate. One of the chief and the more than
outstanding footing that has been uttered end-to-end the scholarly non fiction on the
taxable of entrepreneurship is the word ‘hazard’. The conception of risk carries an
enormous possibility as well as state of affairs for the idiosyncratic, and it is one of the
profound imaginary creature traits in a flourishing businessperson.
M.4 Analyse the link between entrepreneurial characteristic
The approaches of each and every entrepreneur is different when it comes to business or
take a new decision making. This such kind of difference between the personality traits and
entrepreneurial characteristic. In addition, education and life experience is most important part in
hinder entrepreneurship.
D.4 Evaluate how background and experience
Entrepreneur is a person who take responsibilities for any kind of new business as well as
running business. This is the only factor which is help to increase current market network and
overall development of small sector organisation.
10

CONCLUSION
From the above report is focus on ENSOFT LTD. which is a Small sector organisation
and is located in United Kingdom. It provides different cutting-edge software that runs in the
core of the internet, to keep the world connected. This report is based on exploring the range of
business ventures available to entrepreneurs. As per the above report is focus on commercial
enterprise and marketing human action. One of the most crucial part that businessperson is used
creativeness and innovations, which is turned part the growth rate in market place. Form the
above report generates a large part of new jobs and it increases the employment in organisation
that will help in economic development. Due to increase in globalisation, small businesses
increased and such firms contribute to the economy at enhance level. As per the above report
business is help to settle on new choice particle work put. In this setting business visionary is
centre around new business and uncertain amount the plane of conveying enthusiastically in
commercial centre and go for broke for future improvement in showcase.
11

REFERENCES
Books and journals
Linton, J.D. and Solomon, G.T., 2017. Technology, Innovation, Entrepreneurship and The Small
Business—Technology and Innovation in Small Business. Journal of Small Business
Management, 55(2), pp.196-199.
Mahadea, D. and Kaseeram, I., 2018. Impact of unemployment and income on entrepreneurship
in post-apartheid South Africa: 1994–2015. The Southern African Journal of
Entrepreneurship and Small Business Management, 10(1), p.9.
Mamabolo, M.A., Kerrin, M. and Kele, T., 2017. Entrepreneurship management skills
requirements in an emerging economy: A South African outlook. The Southern African
Journal of Entrepreneurship and Small Business Management, 9(1), pp.1-10.
Laukkanen, M. and Tornikoski, E.T., 2018. Causal mapping small business advisors’ belief
systems: a case of entrepreneurship policy research. International Journal of
Entrepreneurial Behavior & Research.
Amato, C., Baron, R.A., Barbieri, B., Belanger, J.J. and Pierro, A., 2017. Regulatory modes and
entrepreneurship: the mediational role of alertness in small business success. Journal of
Small Business Management, 55(S1), pp.27-42.
Irene, B.N., 2017. Women entrepreneurship in South Africa: Understanding the role of
competencies in business success. The Southern African Journal of Entrepreneurship and
Small Business Management, 9(1), pp.1-9.
Saleem, M.A., 2017. The impact of socio-economic factors on small business
success. Geografia-Malaysian Journal of Society and Space, 8(1).
12

Dees, J.G., 2017. 1 The Meaning of Social Entrepreneurship. In Case Studies in Social
Entrepreneurship and Sustainability(pp. 34-42). Routledge.
Fayolle, A., Bettinelli, C., Randerson, K. and Sciascia, S., 2017. Entrepreneurship in Family
Firms, Business Families, and Family Business Groups.
Schenk, H.W.E., 2017. The prevalence and focus of formalised Human Resource Management
practices in a sample of SMEs in the marketing and retail sector of South Africa. The
Retail and Marketing Review, 13(2), pp.40-54.
Dugguh, S.I., 2017. Entrepreneurship and small business: Strategic approach to alleviating
poverty and corruption in Nigeria. GSTF Journal on Business Review (GBR), 3(1).
Nabi, G., Liñán, F., Fayolle, A., Krueger, N. and Walmsley, A., 2017. The impact of
entrepreneurship education in higher education: A systematic review and research
agenda. Academy of Management Learning & Education, 16(2), pp.277-299.
Struwig, F.M.W. and Lillah, R., 2017. South African small and medium-sized enterprise owners’
intention to implement an environmental management system. The Southern African
Journal of Entrepreneurship and Small Business Management, 9(1), pp.1-8.
Kuratko, D.F. and Morris, M.H., 2018. Examining the Future Trajectory of
Entrepreneurship. Journal of Small Business Management, 56(1), pp.11-23.
Ribeiro-Soriano, D., 2017. Small business and entrepreneurship: their role in economic and
social development.
13