Entrepreneurship and Small Businesses Management - Assignment

Entrepreneurship and Small
Business Management

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P 1 Types of entrepreneurial venture and related to typology of entrepreneurship...................1
P 2 Similarities and difference between entrepreneurial venture ...............................................3
LO 2 ................................................................................................................................................4
P 3 Impact of micro and small businesses on the economy .......................................................4
P 4 Importance of small and start up business to growth to social economy .............................7
LO 3 ................................................................................................................................................8
P 5 Skills, traits and characteristic of successful entrepreneur which differentiate them from
other manager .............................................................................................................................8
P 6 Aspects of entrepreneurial personality reflect motivation and mindset of entrepreneurs.....8
LO 4.................................................................................................................................................8
P 7 Background and experience can hinder and foster entrepreneurship ..................................8
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurship is the procedure of creating, introducing and running new business that
is frequently initially small business. The people who make these businesses are known
entrepreneurs. It has been defined as capability and effort in relation to improve, arrange and
handle business project along with any of risks which create profitability (Burns and Dewhurst,
eds., 2016). Report will examine types of entrepreneurial venture and also linked with different
typology of entrepreneurship. It will explore similarities and difference among entrepreneurial
venture. It will illustrate impact of small and micro businesses on the economy. Furthermore,
study will explain importance of small and start-up businesses to growth of social economy.
LO 1
P 1 Types of entrepreneurial venture and related to typology of entrepreneurship
Entrepreneur:
It is an individual who make and operate venture bring different risks and enjoying most
of the benefits. They complete responsibility in relation to growth of economy and improve
productiveness.
Entrepreneurship:
Entrepreneurship means impressive procedure of beginning fresh businesses actions.
They have capability evolve incapacity and willingness to evolve set up and manager business
venture (Burns, 2016).
Entrepreneurial Venture:
Entrepreneurial venture is determined as the company that has taken place through
touching chance of handling invention and making encourage economical value.
Enterprise:
It is other term that is utilised through business and firm that is frequently through
entrepreneurial venture.
There are having difference among serial entrepreneur, intrapreneur and owner managers.
 Serial Entrepreneur: It is an enterpriser who is constant come with fresh thoughts and
beginning new venture (Ferreras-Garcia and et.al., 2019). For example: Richard Branson
is the serial entrepreneur who is founder of Virgin Group.
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