Entrepreneurship and Small Business Enterprise

ENTREPRENEURSHIP AND
SMALL BUSINESS
ENTERPRISE

Table of Contents
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
Define type of entrepreneurial ventures with typology of entrepreneurship..........................1
Define the similarities and differences between entrepreneurial ventures.............................3
Critical examination of the impact of business on nation and international and social
economy. ...............................................................................................................................5
Evaluation of the impact of different businesses to economy with use of data and statistics.7
PART B............................................................................................................................................8
Analyze the characteristics traits, skills and motivational drivers for successful entrepreneur
by exploring different lines of arguments..............................................................................8
How characteristics of entrepreneur personality reflect entrepreneurial mindset and
motivation...............................................................................................................................9
Evaluate how person background and experience can influence entrepreneurs both positively
and negatively.......................................................................................................................10
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurship defined as setting up business or businesses and a process of creating a
new entity with view of earning profit (Akhmetshin and et.al., 2018). It is study that termed out
as how new business are created and operate its activities to start a new business. Therefore,
entrepreneur is defined as personality that drive change with innovation and in which new and
improved products enables new market to be developed. The one of the main significance of
entrepreneurship is the creation of job opportunities
The present study is based on activities of entrepreneurship and small business
management that defines the range of entrepreneur ventures and its impact on growth of
economy.
Furthermore, assignment is based on entrepreneur ventures and typologies of
entrepreneurship, similarities and difference between characteristics, traits and skills of
successful entrepreneur. Lastly, background and experience will be defined that hinder and foster
the entrepreneurship.
PART A
Define type of entrepreneurial ventures with typologies.
Entrepreneur is defined as an individual who has the core responsibility to bring
development in the business and business in relation to taking up financial risk with aim of
earning the profitability. Additionally, the entrepreneur defined as person who organize and
operates the business and businesses. Entrepreneur ventures defined as to put their major focus
over the providing advisory services to the small companies. Thus, the role of entrepreneurial
ventures is usually dependent on the stage of enterprise. Henceforth, these are defined in
following manner as are-
Small business entrepreneurship- It is enterprise that can be called out as privately owned.
Hence, they operate their working with the smaller number of employees and low amount of
volume of sales. Thus, the corporation comes under this category as are partnership, sole
proprietors etc. Therefore, small businesses usually deal with the established products and
services. They operate their business working at the small level with help of small amount of
funds. They can borrow their funds from family, friends and can arrange from their own savings.
This requires low amount of investment to start their business functioning. The profit generated
with this enterprise aids to cater the basic needs.
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Large business entrepreneurship- The large business enterprise has one main motive to earn
huge amount of the profitability. To set the activities, this enterprise has to borrow the funds
from financial institution as they require high amount of investment. Additionally, the venture
capital, angel funding and bank loans are the common source of funding. This entity has to put
core focus on technical advancement, new competitors and legislation.
Scalable enterprise- They are the set who bring innovation and creation in market. They are
undertaking their business activities with help of searching the repeatable and scalable business
model. Thus, the amount of the profitability generate by this enterprise will be utilised for
undertaking research and development process to bring out more innovative methods (Coffie and
Blankson, 2018).
Social enterprise- Under this, the main motive of entrepreneur is to promote welfare in the
society. The main aim of this this enterprise is to sort out the social needs and problems. Thus,
purpose of this enterprise is to bring improvement in the living conditions of people. Henceforth,
this firm undertakes activities as to conduct extensive research to bring development in products.
For example- The enterprise as Oxfam is social entity that promoting welfare to society and
formed by group of independent non governmental organisation. Thus, main purpose is to work
together to have greater impact on international level by reducing the poverty and injustice.
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