Entrepreneurship and Small Business Management

ENTREPRENEURSHIP AND SMALL BUSINESS
MANAGEMENT

TABLE OF CONTENTS
 INTRODUCTION
MAIN BODY
CONCLUSION
REFERENCES

INTRODUCTION
Entrepreneurship refers to the activity of establishing a new business by taking financial risk and the major
objective behind taking such risk is to maximize the profits. Entrepreneur is the person that take risk of staring a new
venture for maximizing the revenue and responsible for launching the new product or service.
The presentation will outline various types of entrepreneurial ventures and typology of entrepreneurship. It will
also describe the similarities and differences between various types of entrepreneurial ventures.
It will also outline entrepreneurship in public sector, growth of entrepreneurial ventures in UK.

Various types of entrepreneurial ventures.
Entrepreneurial venture -
 It refers to the new start up that is established by an entrepreneur with the objective of earning maximum
profits. Most of the entrepreneurial ventures are started on the basis of demand of the product or service in the
market.
 Firstly, entrepreneur identifies the demand of customers on the basis of they develop the idea for offering a
unique product or service. There are different types of entrepreneurial ventures such as -
Social business -
 Social business is a type of entrepreneurial venture It refers to the new start-ups that are started by the
entrepreneurs for offering the solution to resolve social problems and to promote the development of the society
as a whole. Also helps to resolve problems related with culture or environment etc.
 Social enterprises may be profit making firms or non-profit-making firms or a combination of both. For
example – Hertfordshire Independent Living is a type of social enterprise in UK.
 Small scale voluntary firms are also one of the best example of social enterprise that are having aim of
alleviating the poverty.