Entrepreneurship and Small Business Management

Entrepreneurship and
small business
management

Table of Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
P1 Different types of entrepreneurial ventures and explanation about the ways those relate to the
typology of entrepreneurship...................................................................................................................3
P2 Difference and similarities between entrepreneurial ventures............................................................4
P3 Interpretation and assessment of relevant data and statistics to illustrate the ways micro and small
business impacts on the economy............................................................................................................5
P4 The importance of small business and business start-ups to the growth of the social economy..........6
P5 Determination of the characteristics traits and skills of successful entrepreneurs that differentiates
from other business managers..................................................................................................................7
P6 The personality of entrepreneurial that reflects with the mindset and motivation...............................8
P7 The background and experience can hinder or forces entrepreneurship.............................................9
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11

INTRODUCTION
Entrepreneurship and small business management develops the knowledge and skills to
create new ideas to start your new and own successful business. It is a way to establish a new
business by identifying various risks and challenges related to managerial, financial etc. The
entrepreneurial ventures have many ownership structures and also the entrepreneurs require
having certain characteristic and skills to management and development of a business. The
entrepreneur’s personal background and experience can have various impacts on the
entrepreneurship that can hinder and foster their business. This report will include the
examination of various types of entrepreneurial ventures and their relationship with the typology
of entrepreneurship. This report will also state about the differences and similarities between
entrepreneurial ventures. This report will also highlight the relevant statistics and data on how
small and macro businesses affect on the economy. This report will also include the importance
of small businesses in the growth of social economy and the skills and traits of successful
entrepreneur.
MAIN BODY
P1 Different types of entrepreneurial ventures and explanation about the ways those relate to the
typology of entrepreneurship
Entrepreneurship is the best way to set up a company by considering many risk related to
it such as managerial and financial. The entrepreneurial ventures have different ownership
structures and development of an organization.
The entrepreneurial ventures are many different types as follows:
Scalable startup entrepreneurship
This are main types of entrepreneurial ventures and this types of organization start
business with new innovative focus and idea on providing innovative services and products for
the starting of business (Burns., 2016). The company looks for the brightest mind for the all
business and they set up a scalable business model of organization. These types of entrepreneurs
provide new idea can change the whole world so this is important type of entrepreneurial
ventures.
Social entrepreneurship
Social entrepreneurship is related to the focus on solving many social problems by
delivering their services or product. This company focuses on creating an improved world for the
people and can be non-profit, hybrid and profit so this is main entrepreneurial ventures of
organization.

Serial entrepreneurs
A serial entrepreneur is related to the start and leads one business after another at the Sam
time. Entrepreneurs who starts a single business and day to day runes operations of organization
until retirement (Gibson., 2017). These entrepreneurial ventures are essential for organization.
Small business entrepreneurship
Small business entrepreneurship is related to the startup business can only be run by the
number of employees and owners are very low. This type of organization can run with the family
members and friends as partner. Along with the revenue generation are not much and these
company can focusing on getting development of its services or products and more clients. Many
several small organization are there that provided grow exponentially and innovative services or
products so this are main types of entrepreneurial ventures of organization.
Entrepreneurs
Entrepreneurs are a person who operate and undertake a new enterprise or venture. This
is main types of entrepreneurial ventures of company. The tem entrepreneur was applied to
company initially to designates a dealer who purchases a production from the combining them
into a marketable products.
Large company entrepreneurship
The large company has focus on providing new services or products to the all customers
from sustainability and finite life cycle of organization. The demand of the customers I
organization are changing along with the legislation and competition. The large size of the
business makes the disruptive innovative difficult in organization.
P2 Difference and similarities between entrepreneurial ventures
Factors Small business
entrepreneurship
Scalable startup
entrepreneurship
Large company
entrepreneurshi
p
Social
entrepreneurship
Employees
number
Employees are not
more than fifty.
Its depends on
size and structure.
Employees can
be more than one
thousand.
It depends on the
size of the
organization.
Goals and
objectives
This company
might not have
structured objects
and goals and
work on achieving
lesser growth and
profitability of
These
organization aims
to provide new
innovative
products and
achieve high
profitability for all
Theses business
aim to sustain in
the all market by
developing new
services or
products and new
marketing
Theses
organization aims
to provide better
quality of all
services or
products to make
the world a better