Entrepreneurship and Small Business Management

Entrepreneurship and
small business
management

Table of Contents
INTRODUCTION...........................................................................................................................4
PART 1............................................................................................................................................4
Covered in PPT.......................................................................................................................4
TASK 2............................................................................................................................................4
P3 Interpret and asses data & statistics for understanding impact in micro & small business on
economy.................................................................................................................................4
P4 Importance of small business & start ups for growth a economy.....................................7
M2 Evaluation of contribution made by SMEs and large businesses towards a economy....8
D2 Impact of small business on various levels of economy national, regional,, local &
international context...............................................................................................................8
PART 2............................................................................................................................................9
TASK 3............................................................................................................................................9
P5 Successful Entrepreneur and their respective traits & skills.............................................9
P6 Asses different aspects of personality of entrepreneur and its reflect on entrepreneurial
motivation.............................................................................................................................12
M3 Exploring of various arguments related to Characteristics of Entrepreneurs with respect to
a example. ............................................................................................................................13
D3 Analysing skills, Characteristic & motivational drivers for entrepreneurs ..................13
TASK 4..........................................................................................................................................14
P7 Experience and background of a person can effect entrepreneurship education, economic
circumstances, traits and culture...........................................................................................14
M4 Link between entrepreneurial traits and effect of cultural background in ambition of
becoming successful.............................................................................................................15
D4 Evaluation of positive & negative influence on entrepreneurs by various examples ....15
CONCLUSION..............................................................................................................................16
REFERNCE...................................................................................................................................17

INTRODUCTION
Entrepreneurship is a tool which can be used by entrepreneurs for establishing their own
business by undertaking of various risks for earning of profits. Entrepreneurs have a main aim to
maximize profits by bearing of all the risks. In every organisation there are various function
which have to be performed this includes collection of resources to produce quality goods &
services (Aldrich, , 2017). This includes differences & similarities between different
entrepreneurial ventures. This report is based on discussion of skills, characteristics and traits of
a successful entrepreneur. Lastly, there is a discussion on effect of experience of various
entrepreneurs on their success journey.
PART 1
Covered in PPT
TASK 2
P3 Interpret and asses data & statistics for understanding impact in micro & small business on
economy.
Micro & small business organisation have a major role in growth of a economy. These
are various business organisations that employ approx 50 employees or less than 50 employees.
Micro enterprises are mostly a sole proprietorship type of business or partnership firms. They are
responsible for creation of various business opportunities for people of a country.
Entrepreneurial ventures are responsible for maintenance of profitability and ensuring
sustainability in the market (Fatoki, 2019). Small and micro enterprises play a major part in
making a positive contribution towards economic development of a particular country. Various
economic issues can be solved because of emergence of such type of enterprises. Such as
unemployment problem, competition in the macro environment are various factors that are
related to economic growth of a country. This is major reason why government supports such
type of enterprises and also makes policies and programs for encouraging people to start these
type of ventures. Such business have a major contribution towards bringing if innovation and
creativity in a country.