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Entrepreneurship and Small Business- PDF

Added on - 23 Nov 2020

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Entrepreneurship and Small Business
ContentsIntroduction................................................................................................................................................................................................................3Conclusion...................................................................................................................................................................................................................7References...................................................................................................................................................................................................................8
IntroductionEntrepreneurship and small business is the starting point tostart a business. Small businesses run with the limited profitand sources. In a small business, owners are responsible for allthe management.In this report, the company “Make It Work” is a consultancyfirm. This company provides employers who help to operatethe business effectively.The study will discuss the types of entrepreneur ventures andshow the relation with typology of entrepreneurial. Similaritiesand differences between entrepreneurial ventures and howmicro and small businesses have an impact on the economy atdifferent level. It will cover importance of small businesses anddemonstrate skills of successful entrepreneurs who are differentfrom other managers. It will also cover the background andexperience can foster entrepreneurship with the example.Entrepreneurship can be defined as mind-set of person thathelp the person in gaining opportunities to start their businessand gain success in the market. It is the ability of individualthat encourage the person in implementing innovative ideasand finding best solutions for this problem. There are varioustypes of entrepreneurial ventures – public, private etc. Smallbusinesses are a company where employees work less than 50.In a scalable entrepreneurship entrepreneurial ventures focuson more quality for society. It is important for large businessesto mould the product according to trend. Small businessesprovide 19.8% employment in U.K.Public organisations:This is the type of entrepreneur venture thatrun under the control of government. It is governed and controlledby government. The main agenda of this company is to providesatisfactory services to consumers. Public companies are required topay tax at the end of financial year. Public companies are governedby government thus, they have to make change in its operations ifguidelines get changed.Private entrepreneur venture: This is another type of venture thatruns by person without intervention of government. McDonald isthe good example of private firm. Sole trader, partnership firm etc.
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