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Small business and entrepreneurial ventures MANAGEMENT TABLE OF CONTENTS

   

Added on  2020-10-05

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ENTREPRENEURSHIP ANDSMALL BUSINESSESMANAGEMENT
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Different types of entrepreneurial ventures and their relation with typology ofentrepreneurship..........................................................................................................................1P2 Similarities and differences between entrepreneurial ventures.............................................2TASK 2............................................................................................................................................4P3 Assessing and interpreting relevant data and statistics to illustrate impact of micro andsmall business on economy.........................................................................................................4P4 Importance of small business and start-ups on social economy after 'Brexit'.......................7TASK 3..........................................................................................................................................10P5 Determining characteristics, traits and skills of two successful entrepreneurs....................10P6. Assessing aspects of entrepreneurial personality reflects entrepreneurial motivation andmind-set.....................................................................................................................................11TASK 4..........................................................................................................................................12P7 Examining how background and experience can hinder or foster entrepreneurship...........12CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
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ILLUSTRATION INDEXIllustration 1: Private sector business in UK....................................................................................5Illustration 2: SMEs Performance....................................................................................................7Illustration 3: Impact of Brexit on SMEs.........................................................................................8Illustration 4: The Brexit Cost in United Kingdom.........................................................................9Illustration 5: GDP Global Growth Forecast...................................................................................9
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INTRODUCTIONOverall capacity and willingness in order to develop, manage and organize a businessventure successfully in market is known as Entrepreneurship. And this whole process is done byan entrepreneur.Small business consists of few employees working for an organization and haslow sales rate. Businesses that are established by entrepreneur is approx 99% of all the privatesector enterprise. Present report will talk about different types of entrepreneurial ventures andtheir relation with typology of entrepreneurship and what are the similarities and differencesbetween them. It will also explain about the importance of small business and startups on socialeconomy after 'Brexit'. Determining characteristics, traits and skills of two successfulentrepreneurs and examining how background and experience can hinder or fosterentrepreneurship is also discussed in this study.TASK 1P1. Different types of entrepreneurial ventures and their relation with typology ofentrepreneurshipEntrepreneurship can be defined as a process of starting any new business or the study onhow to create a good business. Entrepreneur helps in building good background to start aneffective business. There are so many steps that are included in setting up of an entrepreneurialventure successfully. Although the importance of entrepreneurship and interest in it iscontinuously increasing and growing (Acs, Szerb and Lloyd, 2017). In United Kingdom, theseare very important in providing jobs and helps in creating wealth. There are various types ofentrepreneurial ventures based on their activity, which is explained below:Small Business Entrepreneurship: This is the most common type of entrepreneurialventure which is being easily seen in United Kingdom. In small businesses, it basicallyincludes ventures like, travel agency, grocery stores, consultants, hair dresser, internetcommerce store fronts, etc. These type of businesses are generally independently ownedby an individual or group of people (Jaskiewicz, Combs and Rau, 2015). Main objectiveof small business is to grow into a big enterprise and earn a good profit from it. These arefunded mainly by taking micro loans or bank loans.Scale-able Start up Entrepreneurship: In this type of entrepreneurial ventures focus ison the growth of company and to generate a good revenue. Startups are those business inwhich an individual or group of people start a small business with some unique and1
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