[PDF] Entrepreneurship and Small Businesses Management Assignment

Added on - 21 Feb 2021

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EntrepreneurshipandSmall BusinessManagement
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different types of entrepreneurial ventures in relation to the typology of entrepreneurship.1P2 Similarities and difference between entrepreneurial ventures...............................................2P3 The impact of micro and small business enterprises on the economy...................................3P4 Importance of Small business start-ups for the growth of the social economy.....................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONSmall business enterprises refers to the organizations and business that consists of lessthan 100 employees working in it and posses less paid up capital than any standard organization.Entrepreneur is a person that commence a business start-up by using an innovative idea ofconducting business operations at lower level. This report will highlight the types of entrepreneurventure in relation to the typology of entrepreneurship. The report will include the similaritiesand differences between the entrepreneurial ventures. Further this report will also explain theimpact of small business on economy of UK along with the relevant data and statistics.TASK 1P1 Different types of entrepreneurial ventures in relation to the typology of entrepreneurship.Entrepreneurship-It is a process of setting up a new business with the use of various resources.However, entrepreneurship can be also said a business set-up based on a unique or new idea orconcept related to product or services which is different from others and helps in bring the socialchange in the environment.Enterprise-Enterprise refers to the outcome for accomplishing the entrepreneurship process. Insimple words enterprise is a business being setup by a person through investing his resources andcapital with an intention of earning profit and bringing up social change(Staniewski, 2016).Entrepreneurs and Intrapreneurs-Entrepreneurs are the individuals that generate the new ideaor concept and set up a business with a view of social cause or earning profits. On the other handIntrapreneurs are the people whop serve as an employee to the enterprise and are authorized forbringing up change and innovation process in the organization.Different types of entrepreneurial ventures-Entrepreneurial ventures are the new businesstart-ups being initiated by the entrepreneurs for an intention of earning profits and long termgrowth of the business operations. The following are the types of entrepreneurial ventures-Social Enterprise-Social enterprises are the organization or businesses being initiated byentrepreneur with an intention serve the communities and initiate the good cause for solving theproblems in society(Albort-Morant and Ribeiro-Soriano, 2016). However, Social enterprises canbe profitable or no profitable but the intention of profit is its secondary objective. The growth ofthis enterprise depends on the name, fame and quality of services rendered to the communitiesand society.1
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