Entrepreneurship INTRODUCTION 3 P1 Types of entrepreneurial ventures and their impact on social economy system

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
P1 Types of entrepreneurial ventures and typologies................................................................3
P2 Characteristics, role of various ventures................................................................................5
P3 Impact of micro and small business on economy system......................................................7
P4 Importance of small business and business start-up's in the growth of social economy.......9
TASK 3..........................................................................................................................................10
P5 Skills, characteristics and traits of entrepreneurs.................................................................10
TASK 4 .........................................................................................................................................11
P6 Entrepreneurial personality reflect entrepreneurial motivation and mindset.......................11
P7 Contribution of background and experience to hinder and foster entrepreneurship............12
CONCLUSION..............................................................................................................................13
REFRENCES ................................................................................................................................14

INTRODUCTION
In United Kingdom, small business industry employs half of employees and more, in the
nation which is aiming to identifying the management and controlling such business organisation
in comparison of larger enterprise. An entrepreneur play a wide role in the development of
nation's economy. The enterprise of small business entirely controlled and operated through
individual organisation, private organisation, sole traders in which less worker function for
meeting the objectives and desired outcome in effective way (Ács, Szerb and Autio, 2011). The
majorly use innovative and creative products and services in the huge marketplace. In this report
the study of various types of entrepreneurial ventures and distinct typologies would made along
with influence of small business on economical system, regional, national and international
market. This will also evaluate the encouragements and impact of background and experience on
the entrepreneur decision-making.
P1 Types of entrepreneurial ventures and typologies
Entrepreneurship: This is the major economical part of United Kingdom. An
entrepreneur are the individual who is able to function their business operations and able to
determine the business activities according to the competitive market in order to meet the
outcome in effective way. They agree with equal probability of risk and success of organisation
before starting he venture. It is fundamental for an entrepreneur to take the venture as a risk and
this can help them in meeting the outcome in effective manner.
Entrepreneurial: It is consider as an activity that need to design in effective way for
getting over from such elements. Such stages are majorly solicited with the business start-up and
in the mid of process, owner require to evaluate the entire promotional sources. It lead to that use
of planning of organisation and available things in order to predicting longed services and
products to the clients. There are several aspects for understand danger, cost and other factor of
organisation.
There are various types of ventures that an individual can adopt in effective way. These
have been sorted according to requirements and purpose of business. Here are mentioned some
them:
Entrepreneur Venture
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Lifestyle Venture: These types of entrepreneur are more likely to fund or invest their
capital asset where they will trade and develop their business in competitive style. These prefer
in-depth analysis along with the services and goods according to consumer demands. It will
support their revenues stability for managing and owning their work for business operating in
efficient way. In these venture, it contain some limitation and mass worker amount. The major
drawback of this venture is complicated process for meeting the large economical market and
business.
Managed Growth Venture: This venture seek for the stability management in
development and able to function according business model. The reinvestment are taking places
for producing new products, improvements in facilities enlargements, location, worker and
highly localised and powerful bands that are improved within a limited time frame. The
requirements of business is to moderate the things which is offered for rapid business growth. It
will lead them for managing owners and monitoring the enterprise in effective way.
Survival Venture: These venture types are most common that help an individual for
assisting organisation at the surviving time. In the new business market, organisation has the
chance for promoting services without market to make any competition as well as help in
rendering the services that can aid an individual in survival (Andersson, 2011).
Aggressive Growth: These entrepreneur are referred to the investors of advancements and
the creative and innovative technologies have been introduced by them. These long for gaining
huge growth and revenues amount along with funds. Such business firms are more likely to
formulate their unique products and innovation for meeting the desired consumer. These are
often successful as public like more modified and advanced technologies.
There are various typologies of entrepreneurial venture which is mentioned as below:
 Private Entrepreneurship Venture: Some organisation are owned by private owner in
United Kingdom. Such organisations have the single venture or one possession that
render owner for creating food benefits and evaluation what they need.
 Scalable Start-up: The higher authorities and small level managements come under it.
Such businesses are those who form their enterprise in specific market niche through
investing in this. They can deal in huge market but still linked their services with general
public.
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