Entrepreneurship and Small Business Management

Please follow the guideline provided and answer to all the questions from the assignment.

ENTREPRENEURSHIP
AND SMALL
BUSINESS
MANAGEMENT

Table of Contents
INTRODUCTION
MAIN BODY
Skills, traits and motivational drivers of a successful entrepreneur
Importance of entrepreneur background in the entrepreneur success
CONCLUSION
REFERENCES

INTRODUCTION
 SMEs or the small sector enterprises are the enterprises which are having less than 100
employees in the organization and also the paid up capital of the SMEs is very less.
 This report highlights the trait and characteristics of the entrepreneur and also
importance of the entrepreneur background in the entrepreneur success.

Skills, traits and motivational drivers of a successful entrepreneur
 Sir Richard Branson has the following skills and traits :
 Determination : Branson has faced a failure in the business several times such as he
failed with the virgin cola, virgin publishing, virgin clothing, virgin brides etc. in-spite
of such failure the person does not loose hope and continued with his work. This is one
of the most important trait of the successful entrepreneur which is determinant and hard
working.
 Strong people skill : Sir Richard Branson has an good communication skills which
helps him in many ways.
 Clear goals : He is clear with the goal. He knows that what he want to become at the
age of sixteen.

Importance of entrepreneur background in the entrepreneur success
 There are some factors which always said to be the factor which has helped the
entrepreneur in their success are the Patience, time management, communication and
the hard worker but there are some factor which are always overlooked in the success
of the entrepreneur is the background of the entrepreneur but in reality it plays a very
crucial role in the success of the entrepreneur.
 Some background or experience factor which influence or hinder the entrepreneurship
is as follows:

CONCLUSION
 This report summarises that traits, characteristics and skills of entrepreneurs have also
impact on the business performance of the entrepreneur which could lead success or
failure of the business.

REFERENCES
 Pierrakis, Y. and Saridakis, G., 2017. Do publicly backed venture capital investments
promote innovation? Differences between privately and publicly backed funds in the
UK venture capital market. Journal of Business Venturing Insights, 7, pp.55-64.
 Rawhouser, H., Cummings, M. and Newbert, S. L., 2019. Social impact measurement:
Current approaches and future directions for social entrepreneurship
research. Entrepreneurship Theory and Practice, 43(1), pp.82-115.
 Sekaran, U. and Bougie, R., 2016. Research methods for business: A skill building
approach. John Wiley & Sons.
 Siebold, N., Günzel-Jensen, F. and Mü ller, S., 2018. Balancing dual missions for social
venture growth: a comparative case study. Entrepreneurship & Regional Development,
pp.1-25.