Entrepreneurship and Small Business Management

Entrepreneurship and
Small Business Management

Table of Contents
INTRODUCTION...........................................................................................................................1
LO....................................................................................................................................................1
P1 The range of entrepreneur ventures types and considers as the entrepreneurial....................1
P 2 similarities and difference between entrepreneurial ventures...............................................3
LO 2 ................................................................................................................................................4
P3 The impact of small business on the economy......................................................................4
P4 Importance of small business and business start-ups to the growth of the economy............6
LO 3.................................................................................................................................................6
P5 The key aspects of the entrepreneurial mind set...................................................................6
P6 Personality dimensions and personality traits through open model ......................................7
LO 4.................................................................................................................................................8
P7 Background and experience can hinder and foster the entrepreneurship..............................8
CONCLUSION................................................................................................................................9
...................................................................................................................................................10
REFERENCES..............................................................................................................................10

INTRODUCTION
Entrepreneurship is a process for designing, launching and running a business which is
often initially a small business and also the individuals and people who creates the business are
generally called the entrepreneurs. Small business are those where less then 500 employees has
been working and also beneath the industries annual receipts cap. The report will study that the
range and types of the entrepreneurial ventures and also the impact of small business on the
economy. Furthermore, this report will study the key aspects of entrepreneurial mindset and the
way entrepreneurial background, experience and education foster and hinder entrepreneurship
(Kirzner 2015).
LO
P1 The range of entrepreneur ventures types and considers as the entrepreneurial.
Entrepreneurship:- The term entrepreneurship refers to the designing, launching and
running the new business which is initially a small firm. It is the willingness and capacity to
organise and develop the ventures along with the risks in order to make high profit. There are so
many risks which has been involving on launching and starting a business such as the bad
decision of business, economic crisis, lack of funding and also the market demand and al et
combinations of all the things.
Entrepreneurship typologies
Small size social ventures:- small size ventures private equity form and which has been
deploys the capitals across the multiple sectors and also to the geographical regions for the basis
of the opportunities which has been early stage investment. Small size social ventures has been
undertaken by the firms to the organisations which has been established the social entrepreneurs
and also seeks to provide the systematic solutions for achieving the goals and objectives. For
example; A Courier business which has been moves the packages from one location to another
and charging a small amount of fee for that(Dees, 2017).
large size social ventures:- large size social ventures has been described as the more complex
and highly oriented rather than the small size ventures. It needs so much high rate of capitals for
establishing the business and organisations. There are lots of employees and workers which has
been working there. For example; Royal Dutch Shell which is commonly known as the Shell, it
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is gas and oil company which has been manufactures six types of the oils and gas super majors
and it is 5th largest company measured in 2018.
high growth firms:- High growth form has been growing faster than the peers and also the
boarder of the economy. There are no hard and fast rules for defining the growth which has been
generally raised the annual revenues more than the average of the industry over the sustained
period. For example; google place their image in the market so easily with the higher rate of
revenues and also image of the company in the market.
Established company:- the term has been refers for generally applies the individuals which has
been start the new business but also extend the individuals which are employees within the
establishes firms. For example; Tesco is one of the multinational groceries and also the
supplying chain of the supermarkets. The activities of the organisations is a fundamental element
for the fundamental strategies(Katsura, 2016).
Entrepreneurship ventures
Entrepreneurial ventures where an individuals runs and start the business with planing
and limited resources and also it has been responsible for the all the rewards and risk of his and
her business ventures. it has been encompasses the new products and services rather the existing
business models.
Lifestyle firms:- the term life style refers to setting up the business which has been run
by its co-founders with the aim of sustaining the particular level of incomes and no more. It has
been provided the foundation.
Social enterprises:- Social enterprises are those organisations which can applies the
commercial strategies for maximising the improvements in social, financial and well-being of the
society and it has been involved the social entrepreneurs for maximising the profits and impact
on the revenues of the external stakeholders.
Aggressive growth firms:- this is a mutual funds company which seeks for the capital
gains which has been investing in the aggressive capital growth shares. The investments which
has been held for the funds of the companies for demonstrating the high potential growth. The
strategies of the business has been categorises in so many ways such as the aggressive
investment and strategy means making the portfolio managements which only attempt for
maximising the returns for taking the higher degree of risk for the growth of the firms.
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