Entrepreneurship and Small Business Management

ENTREPRENEURSHIP
AND SMALL BUSINESS
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK ..............................................................................................................................................3
P1 Different type of entrepreneurial ventures and its typology.............................................3
P2 Similarities and difference in between the different venture............................................5
P3 Data and statistics show how micro and small business impact on economy...................7
P4 Importance of small business and start ups growth of social economy............................9
P5 Different characteristics, traits and skills of successful entrepreneurs............................11
P6 Identify the different aspect with entrepreneurial personality........................................12
P7 Background and experience that can foster.....................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
In entrepreneurship there are various criteria which needs to be considered by
entrepreneurs while they are looking for business and although they do focus on various
activities in with different persons too. Entrepreneurs are the one who bring many new thoughts
and views in their firm to have success of their organisation in comparison with competitors
(Ackermann, 2012). Although they manage and handle every task in better manner so that profit
and risks can also be included. This rReport is based on Dixon Schawbl which is small company
and provide services related to advertising and marketing. Firm is busy with serving its better
services of marketing and advertising scenario. Therefore, around 77 people is working with
entity and the firm was found in year around 1991. Project will discuss about different ventures
and similarities in between those, hence how small and micro impact on economy and
importance of entities. Apart from such it will also include the features and skills of
entrepreneurs and aspects of them too.
TASK
P1 Different type of entrepreneurial ventures and its typology.
In market competition is on high peek and even in such there are various ventures who
are fighting to get success and to earn higher profits as well. There is quite difference in between
the entrepreneurship and entrepreneur.
Entrepreneur: He/she is the person who take risk with financial criteria in hope to earn higher
profit in comparison to its competitors and thus they have creative mind with such they bring
new thoughts and views in their business so that they can make themselves stand in market.
Entrepreneurship: It is that which consider the capacity and competence level which make
them to develop and organize different business venture and activities in order to attain profits.
For instance, starting a new business in market.
Moreover, there are various kind of typologies in entrepreneurship and few of those are as:
Typologies:
Lifestyle venture: In such, entrepreneurs are more likely to invest in those areas where
the population is going to be served with product and services, so that they can attain
competitiveness, although this kind of ventures are framed according to the preference and taste
of customers (Blackburn, Hart and Wainwright, 2013). Moreover, entrepreneur of this kind does
not look forward to expand their business even they make their enterprise stable.

Managed growth enterprise: In this those company are considered which get stability in
their growth and development with business model. Although, in such venture investment goes
with up introducing the initial product and services in market. Hence, modification and tailored
goods and services will be provided according to the demand growing of business.
Aggressive growth: Exposer and progress is being considered in this typology of
entrepreneurship. Even such king of firm has the ability to produce the innovative and creative
services as well. Moreover, technical advancement is such which help in having a great and
exceptional growth. Generally, such kind of firm always make a investment in proper way too.
Some of the key entrepreneurial venture are there and some of those are as:
Small business entrepreneurship: In this several individuals do come up with
resources, innovation and the specific plan as well, with such specific plan and investment is
made in working so that profit can generate in better way. It includes different thing like stores,
carpenters and saloon too (Bridge and O'Neill, 2012). In UK there are almost 5 million small
business and all are considered in non- government workers. In such firm they normally goes
with hiring their family members so that business can be run for longer period and profit can also
be earned.
Scale start up: Entrepreneurs move in with great thoughts and ideas of business which
attract the investors to come up and invest in their business and show their talent of making
better return on investment too. For such entrepreneurs do hire those who have capability and
competence to fight in any situation and can work in proper manner too.
Large Scale: They are those who operate at large scale and has their operation at the
broad segment for which they have a effective business development in great manner although.
At such scale a proper cycle works up and in those which grow with their innovation, launch and
also offers various kind of services to people.
Social enterprise: In this those organisation are considered who normally focus on social
services in right prospect and thus try hard to settle down the needs with wants of customers by
providing quality standard of services (Bruton, Ahlstrom and Li, 2010). Even though social
enterprise also bring standard of living of different people.
Relation with typologies:
Female entrepreneur: This criteria is being considered as important one as because
female carry all the task and activities on their shoulder and carry out a new venture on their

own. They are one who able to manage and handle everything in with quality too and have
courage to take risk to earn profit.
Serial entrepreneur: In this, different individuals come up in market with new ideas and
innovation in their working and thus they even expand their business as well and after such those
people handover entity to someone else (Burns, 2010). Moreover, further they do again start their
business which is something new in market and sell such enterprise again to someone else and
earn good profit too.
Social entrepreneur: In such venture, individual does drive different thing which is
related to innovation and transformation in several sector and it is be like education, health and
environment. They focus on sustainable development not on profit and non-profit organisation.
Relationship of ventures and Entrepreneurial ventures:
Female entrepreneurs work similarly with male entrepreneurs as they work in small and large
scale organisational system. They carry out their work in effective and efficient manner. Social
entrepreneurs are carried out in order to improve the living condition of the people so that they
can live a better life. Hence, this can be carried out by small, medium or large scale organisation.
P2 Similarities and difference in between the different venture.
According to a small research it was found that there is quite difference in between the
various ventures and some of those are as follows:
Lifestyle ventures Serial ventures
Similarities Similarities
 In such, entrepreneurs are those who
are very much confident regarding their
working in innovative ideas and also
produces featured products and services
which satisfy the customer needs and
wants.
 Entrepreneurs are those who have
ability in themselves to perform in
better way and thus look forward to
 These entrepreneurs are those who are
curious about different thing and bring
various new ideas and creativity in
business which are not being existed in
market too.
 In such, company invest their amount in
bringing business plan in better manner
and thus they also look forward to
create a demand in between consumers

have success and bring stability growth
too.
 These entrepreneurs are those who
believe in making investment at where
the level of competition is high because
more the risk more the profit.
 They have a belief that with their
innovation and creativity they can earn
higher profit and image in market too.
through promotion and publicity.
 In this many venture come up with idea
to change some features in existing
services which can help company to
fight up in market with their
competitors.
 They work hard and always think for
new and innovative idea which can help
them to attract more and more
customers too.
Difference Difference
The major difference in between these is
entrepreneurs are as in this the entrepreneurs
are looking forward to invest their money at
such palace from where they can earn the large
amount of revenue in better manner although.
Even they don't expand their business any how
whether they earn good amount of money too.
They try to find better opportunity in market
and for such they have to bring new product
and services with innovative ideas and thus
they also look forward to expand their business
as well and thus they make their business stable
and handover to someone else for betterment of
such business.
Above is such which help in knowing which firm is better and how they behave in market
and thus also earn higher profit as well in proper way too.
Another difference and similarity in between the entrepreneurs are as:
Male entrepreneur Female entrepreneur
Similarities Similarities
 In this people are those who are very
confident with their unique ideas and
innovation as well with their
capabilities and thus it is quite enough
to have better decisions and in which
they also manage the entire business
 Female entrepreneur are those who
have a courage to manage and handle
the different scenario in their business
and can attain their goals and objective.
 Female entrepreneurs are considered as
multi talented in their working and

operation in proper way.
 The male entrepreneur are those who
think that they can make any type of
losses and uncertainties and losses can
be beard by them.
several task are there which can be
completed on time and can also be
maintained effectively as well.
Differences Differences
They generally make themselves strong and
make effective decision and also look forward
to work hard and to improve the performance
of business in their critical path too. They try
to build good image in between competitors
and also maximise their wealth and achieve
goals and objective.
Women are those whose behaviour is polite
and work in smooth manner as well, so women
can handle the customers in effective way.
They try hard to maintain relation with their
consumers and among them too.
P3 Data and statistics show how micro and small business impact on economy.
Small and micro enterprise is such which play an important role in contributing into
national economy. The purpose behind starting up a new business by individuals or with help of
group members can be there which lead to earn profit in great manner and also increases the
wealth of organisation. In small firms the number of employees are less and manages the
responsibility in better manner though so that they can earn income and can share with others
too. Even the UK government started supporting the Small and micro firms as because after
Brexit the economy of country was not stable and with supporting the small firms somewhere the
economy of UK can be managed in proper manner (Chittithaworn and et. al., 2011). Successful
business go with expansion and can increase economy as well with the development of country
by bringing various innovative ideas so that GDP can increase. Many problems does faced by
UK after the separation of European union and entrepreneurs were not be able to manage and
handled themselves in great way.

There were a lot changes bought like increase in tax rates, legal policies and protocols of
UK. Moreover there are some of the criteria thus which help in understanding the small and
micro enterprises in better way and thus such has impact of it on economy too.
Impact on local: Ventures and new start-ups are those who support the development of
nation and although also encourage government policies to accept the local goods and services in
better manner (Cowling, Liu and Ledger, 2012). Even though they also motivate and boost up
morale of entrepreneurs to come up with new ideas and thoughts to create and innovate new
product and services as well which help in creating a effective business.
Regional impact: They support in having a development of regional with starting
various ventures and thus it lead to have improvement in infrastructure as well in better way.
They also help in community or society and thus through which healthy and clean environment
can be there and thus regional areas can also be developed. New ventures are there which create
more job opportunity for different people and look forward to fulfil the basic needs and also
increase standard of living of individuals too.
Regional impact: This is something which does contribute in different thing like
regional development and also start with ventures so that infrastructure can also be improved in
better way (Dennis Jr, 2011). Start-ups are those which help in creating healthy and clean
environment, even though with this regional areas can be developed. New ventures is such which
create more and more job opportunity for people which help to fulfil needs and increase various
standard of living too.
Impact on national economy: Small organisation is that which does help in growth of
GDP and thus it can help in making a country's economy in best manner and can be overlooked
to develop it. Entrepreneurs are those who support in decreasing the import and looks forward to
have increase in export in country to higher tax rate, custom duties and looking forward to
generate economic growth.

The data is such which help to gather the information in better manner and the small firms do
help in gaining advantage in economy. Number of enterprise came in market after Brexit which
helped in managing the economy of country. Even though various thing are there which help in
earning higher profit and make them-selves stable in market too.
P4 Importance of small business and start ups growth of social economy.
Start ups and small business organisation are those which contribute in the national
growth of country and do support in better way too. Although the UK has faced various issues
and circumstances when the European Union went out from country and Brexit happened.
Moreover, the economy of UK does not get stable and even though in such situation they are
Illustration 1: Data and statistics of small business

looking forward to handle such situation and thus for it government is supporting small business
environment as well. In this particular situation every entrepreneur took decision to expand their
business and help economy to get stable (Down, 2010). Government of UK formulate various
rules and regulation for micro and small firm which help in increasing the economy condition.
Therefore, having a better relation of economy with society is something which is known as
social economy, this is something which is being affected from micro level business and they do
support people in increasing the various level of standard and although provide job opportunity
to them. After, Brexit there are variousvariosu changes occurred which help in making new
policies and procedures and this has to be followed by the entrepreneurs. Although the small and
micro business doe help in the development and growth of economy of UK. There are some of
the ways of having economy growth such as:
 Micro firms are such which help in increasing growth of economy and company of UK
and such thing has also contribute in high level of revenues and income after the Brexit.
 They even though try to maintain the environment as clean and green so that they can
contribute in the development of society.
 Small business are those who help in developing people by giving them jobs and such
thing also leading into reduction of unemployment as well (Fassin, Van Rossem and
Buelens, 2011).
 Micro and small business is that which have effective goods and services in cheap cost
and thus they also sell such at lower prices so that customers can buy those product and
services in better manner and thus with this needs and wants can be fulfilled and it also
increases the consumption of goods with better production too.
 Small firms are those who do support in having balance and also leads to maintain the
employment ration by reducing unemployment.
 After Brexit, small firms are those who has supported the economy of Uk in great manner
and with this they have earned higher income as well.
 Start-ups is such which help in maintaining the healthy environment and this is such
which also create the infrastructure in regional locations.
 These are those which do help in earning higher profit and thus make it to lead to have
better working in the environment as well.

 Entrepreneurs are such who knows how to manage work and utilise resources in effective
manner so that they can receive maximum outcomes from the minimum input as well.
CSR is enterprise initiatives to assess and take responsibility for company's effect on the
social wellbeing and environmental aspect. Term is generally which applies the different efforts
that go toward the regulators and environmental protection groups as well.
Although the Dixon Schwabl is such company who provide better service to their clients
and even in better manner as well. They do have a social responsibility and does help in social
well-being and not to perform any thing which has negative impact on society. This has become
an law that every company has to look forwards for CSR in great way and has to perform in
better manner too.
P5 Different characteristics, traits and skills of successful entrepreneurs.
A Successful entrepreneurs is that who has the effective skills which is more efficient
too. They are those who look for better features and skills for running in business too.
Entrepreneurs are inspired and looking forward to make them motivated and thus various kind of
risk and uncertainties which think big and also produce various new products and services as
well. They bring their new ideas and thought in their working which does help them to have an
innovation and creativity in their company which lead them to attain goals and objectives in right
context (Hall, Daneke and Lenox, 2010). Many entrepreneur are there who has started their
business at micro level and has become the successful businessmen in this competitive world.
Even though entrepreneur are those who has skills, abilities and learnings with education which
help to build better organisation in market. Some of the elements which needs to be there in
entrepreneur as:
Personal features: It is such which is being considered as the personal feature and it is
such which differentiate individual people with other in better manner and thus it also lead to
have a better working in the organisation. Having great skills and feature make them to handle
various situation in great way and thus it will lead to have a great working although.
Skills: These are those which consider the different aspect of entrepreneur and thus it will
lead to make them to be unique in whole population and thus skills are various in nature and thus
it is in been human and does vary with people too. Skills can consider various thing like
(Communication, direction, leadership and personality skills etc.)
Some of the personal characteristics be like:

Openness to experience: It is being considered as the aspect of entrepreneurial which is
regarding the personality as they should have ability to experience the situation as well. Business
environment is such which is changeable because it surround with various factors and this has
affect on business so that individuals must look forward to get ready and thus this is innovative
thing which can lead to have work in effective manner and to achieve the goals too (Preuss,
2011).
Highly motivated: It is required by entrepreneurs to be highly motivated because with
this they are able to motivate the people and employee in better manner and thus it can help in
increasing the performance level of organisation as well and it can make them to attain their
goals and objectives in right context too.
Skills of entrepreneur:
Hard workers: This quality should be there in every entrepreneur and thus this is such
which help handling the task and jobs in better manner. They are always make themselves
prepared to face various kind of challenges and condition and does not get afraid with risk and
problem (Ligthelm, 2010). They work hard to get success and to attain the goals and objectives
in right context too.
Motivation: Entrepreneurs are those who should have this trait. It is required they use to
be self motivated so that they can manipulate others too in better manner so that performance of
employees can be increased and can lead to have attainment of their target too.
Risk taker: Entrepreneur should have an quality of risk taking under their working and
thus they can also lead to run the business in effective way. It is required by company and them
to have an strategy and decision in right format and can find out the surviving the different
situation as well.
P6 Identify the different aspect with entrepreneurial personality.
Personality is such which describe different thing about the person and look forward to
entrepreneurial qualities and this is something which can affect individuals capacities and it can
be performed according to their environment abilities. Although there are various things which
help to determine the personality which needs to have influencing power.
The mindset of entrepreneur:
Positive thought: It is require by entrepreneur to stay positive in better manner so that
they can help every employee in organisation so that they can perform every work in great way.

Positive thought always help in completing the work on time and create an environment where
the working is done in right direction.
Staying motivated: Although, it is required that entrepreneurs needs to stay positive in
organisation as this help in increasing the performance level of employees and different criteria
can also be there and thus motivation help in earning money in great manner in market. Staying
positive can help firm to earn money for longer period as well.
Agreeableness: In this, person required are those which focus for organisational goals
and does create the positive behaviour at different work place. Therefore, various tools and
techniques are such which motivate the employees so that good relations can be maintained.
Extraversion: Entrepreneur should have an habit of sharing ideas, opinions, views and
having without the barrier with confidence as well (Nga and Shamuganathan, 2010). This is
something which help in influencing the mindset with individuals and do motivate which have
free sharing with issues and problems too.
P7 Background and experience that can foster.
For many entrepreneur it is quite difficult to start and to manage a new business with
issues and problems which occur while the starting the business too. Businessman have to face
many situation or problem and thus operation and they do get the various types of barriers ans
this has impacted on the business process with its activities too. Even though the persons
background and experience does play an effective role play and have importance of it in making
them a successful entrepreneur in great way. Personal background is such which does include the
aspects of different thing which he/she has faced like family, school, college and society from
which they belong too. So these components influence various individual behaviour and their
personality is such which help in having an effective work in organisation (Schaltegger and
Wagner, 2011). For being a successful entrepreneur it is required to consider different thing like
values, education, cultures and beliefs are those which does play an vital role. If, learning and
acquiring can be there which impact on business and they might take several steps and decision
in work place and this also make to create the barriers and this also help in achieving goals and
objectives too.
Experience is such which does consider different things which is being faced by the past
life. In this case of investment, if a person is having various thing and which does face different

losses which is related to the funds and will always be having scared and thus look forward to
take steps which is related to investment. Same again, if a individual person is facing different
situation about crime incident and thus it leads to have an previous life and it will also have
difficult for person to have trust on someone easily.
So, if it is considered and thus it is be like which look forward to build in good relation in
with the people as well.
Steve jobs: The founder of apple, he does started his business at lower level and worked hard
and bought their business at such level. He is the person who is inspiring many generation and
motivating them to come up with new ideas and thoughts. In starting he faced many financial
issues and and now he is the owner of apple corporation. Steve jobs comes from a background
where people do not shy to take risks. He left his college because he wanted to start something
new and try to pursuit his interest. He went to through emotional trauma when he came to knew
that he was adopted. This trauma made him strong and it can be considered as the prime reason
behind aggression which could be seen in his working style.
Bill gates: It can be said that, he is the richest person in the world and having most successful
entrepreneur in this world. He is the person who is a co-founder of Microsoft company and it is
largest PC software company. Approximately, he is having around $ 79 billion too. Bill gates
lived in an environment where people like to take calculated risks. Bill gates also left his
education in middle because he thought that it is not going help him in developing a successful
career. This fearless nature gave him some hard experience but at the end, made his ready to
cope up with any kind of challenge. He always prefer to work with people who are better than
him because he leant it from his past experiences.
CONCLUSION
From the above report, it is been concluded that entrepreneurs are such which come up
with new ideas, innovation and creativity which look forward to have new venture for the
purpose of attaining the goals and objectives to maximise profit. In this, various entrepreneurial
ventures are also discussed which has relation with the different typologies like small-business,
serial and female with social enterprise which does help in contributing several thing in
development of country. Brexit is such which has affected the organisation with its factors and
thus it also changes the rules and regulations. In this various things are there which explained

with features and skills of successful entrepreneur in proper way too. Moreover, this is
something which can have background and having experience which has influence on behaviour
for bringing various innovative and better ideas in best way too. These all are something which
does help entrepreneur to earn higher profit and thus lead to attain their aim and objectives too
within the time period as well.

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Online
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