Entrepreneurship Assignment | Small Business Enterprises
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Added on 2020-06-06
Entrepreneurship Assignment | Small Business Enterprises
Added on 2020-06-06
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Entrepreneurship
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different types of entrepreneurial ventures and its interrelation typology ofentrepreneurship.....................................................................................................................1P2 Similarities and Difference between entrepreneurial ventures.........................................3TASK 2............................................................................................................................................5P3 Assessing and interpreting the impact of micro and small businesses in economy..........5P4 Contribution of small businesses and start-ups in growth of social economy..................7TASK 3............................................................................................................................................8P5 Characteristics, traits and skills of successful entrepreneurs............................................8P6 Aspects of entrepreneurial personality in reflecting entrepreneurial motivation and mind-set............................................................................................................................................9TASK 4..........................................................................................................................................10P7 Factors that foster or hinder entrepreneurship.................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONSmall business and medium size enterprises consist of more than 95% businesses inseveral different nations. These small business organisations are renowned as the entrepreneurialventures. Entrepreneurial practices enable an organisation to refrain more competitive as well ascan build economic development as well as solve the societal issues. An entrepreneurial ventureis an person who begin and function a business with planning and definite resources as well as isliable for entire rewards and risks of their ventures (Blackburn, Hart and Wainwright, 2013).This report will evaluate the study of Softwire deliver the solution of software, websites andapplication which is one of the leading UK brand. It will presents different venture range andentrepreneurial types along with influence of small business organisation on the country'seconomy. An entrepreneur's decision making is affected by mindset of entrepreneur and theirdifferent environment shapes their perceptions and views which will also be assessed in this. TASK 1P1 Different types of entrepreneurial ventures and its interrelation typology of entrepreneurshipAn entrepreneurial venture is a combination of risk, failure, success and ambiguity:learning and embracing it. There is a fine different between both terms small business andentrepreneurial venture which creates a major difference both of them. Small business is oftenassociated with services and products establishment already whereas entrepreneurial ventureaims over the innovative and more productive offerings that tend to risk. An entrepreneur refer tothe individual who determines a business undertaking the financial hazards expecting profits asan outcome out of it. An entrepreneurial venture often influence the communities and economiesin more ideal way that also create a cascading impact on job creation and other commercialsector (Bridge and O'Neill, 2012). There are several different types of entrepreneurial ventureand typologies that are interrelated with each other. Here are mentioned some of the venturetypes of entrepreneur: Small-business Entrepreneurship: According to the recent scenario, there are severaldifferent sort of entrepreneurial venture which are functioning in United Kingdom.Approximately more than 6 million of business organisation are recently operating theirbusiness. Such types of business venture consist of travel agents, internet owner of cafe,1
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