Entrepreneurship and Small Business Management

Entrepreneurship and
Small Business
Management

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Critical evaluation of different types of entrepreneurial ventures...............................................3
Different types of typology related to entrepreneurial ventures..................................................4
Similarities and difference between entrepreneurial ventures.....................................................4
Use of data and statics to analysis impact of small and micro enterprise on economy...............5
Significance of Small and start- up business for social economy...............................................6
TASK 2............................................................................................................................................6
Evaluation of characteristics, traits and skills that are present in successful entrepreneur.........6
Asses of the way aspects of entrepreneur personality reflect mindset and motivation level.......7
TASK 3............................................................................................................................................8
Evaluation of the way background and previous experience hinder or foster individual to
become successful entrepreneur..................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurship is a ability of individual to undertake various activities such as sells of
products and services for establishment of business in order to earn specific amount of profit
margin. There are number of Small business and start- up business in UK that have contributed
in effective growth of economy. Therefore small business needs to be effectively managed so
that they can grow and expand their operation in future circumstance. This report has examined
different types of entrepreneurial ventures and the way they are related to typology of
entrepreneurship. It has also covered information related to similarities and difference between
entrepreneurial ventures. Various relevant data, statistic are used in report to understand impact
of micro, small business on growth of economy. It has also discussed about different
characteristics, traits of entrepreneur and aspects of entrepreneur personality that reflect level of
motivation and mindset of entrepreneur. It has also examined and analysis the way background
and experienced of individual can foster or hinder in development of successful entrepreneur.
TASK 1
Critical evaluation of different types of entrepreneurial ventures
Entrepreneur is a individual that plan to establish and run business by incorporating
associated risk for earning maximum profitability. Entrepreneur ventures can be differentiated
between each others on basis of size, scale of operation, legal liability and many other factors.
Therefore different types of entrepreneurial ventures are public, private and voluntary which can
be explained in detailed below:
Private or corporate Enterprise: Companies that are decided to be established by single
individual or two partners by equally or by contributing capital in specific ratio for smooth
operation of business. Private enterprise cannot issue share to general public therefore it always
raise fund by its own saving or taking loan from bank or investors (Giuliani, Robert and Roy,
2018). Private enterprise can be small, medium and large that is mainly operated to earn
maximum profit through satisfying requirements of customers in best possible manner.
Public Enterprise: It is types of enterprise that are managed by elected individual so that
services or products can be offered to people at affordable rates. Government may have full or
half control over operation of public enterprise that are operated to render services for benefit of
people. Such enterprise can raise capital through subscription from general public at the same
time have wide scale of operation so that requirements of each individual can be satisfied.