Importance of Small Businesses and Start-ups in Social Economy

Entrepreneurship and
small business.

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
P1: Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship......................................................................................................3
P2: Explore the similarities and differences between entrepreneurial ventures..........................6
P3. Interpret and assess relevant data and statistics to illustrate how micro and small
businesses impact on the economy. ...........................................................................................7
P4. Explain the importance of small businesses and business start-ups to the growth of the
social economy............................................................................................................................9
P5: Determine the characteristic traits and skills of successful entrepreneurs that differentiate
them from other business managers..........................................................................................10
P6. Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation
and mindset...............................................................................................................................11
P7 Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship........................................................................................................................12
CONCLUSION .............................................................................................................................13
REFRENCES.................................................................................................................................14
Books and Journal.....................................................................................................................14

INTRODUCTION
Entrepreneurship is a term that set a project and task in a planetary industry, the proprietor or
individual of organization is known as Entrepreneurs. They are the one which are responsible
for their earnings and losses and contribution towards the capital and investment. There are
different kind of ventures entrepreneurial ventures which are classified into various concept or
categories. This report is going to explain about the different categories of ventures and also
differences and similarities among entrepreneurial ventures(Albort-Morant and Ribeiro-Soriano,
2016). The term entrepreneurship is mainly concentrating on maintaining small level business by
setting an person efforts and their capabilities towards the development. This context is also
going to explain about the enterprise activity and function of small level business as a EG
solutions PLC and MOMA foods company . Also, this report consider effects of small and
micro companies with their importance too. In this context there is explanation about
entrepreneur traits and skills that are much needed to direct a business effectively and that could
be done by identifying the attribute and personality of an businessman and their background and
also concentrate on each factors and component that influence the economy and society through
different activities and operational functions.
MAIN BODY
P1: Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship.
Entrepreneurship: Directing a company or any task with the perspective to achieve the
opportunities and possibilities of market by developing and creating brimful and efficient use.
Entrepreneurship is the capabilities and preparation to enhance and improve and direct a business
in a very effective way. In relation with that it cater different advance innovation and
technologies to the society and community. This will involve different kind of operational
strategies and functions like planning, controlling, arranging the operations and improve and
enhance the strategies(Attaran and Woods, 2019).
Different kinds of entrepreneurship
Serial entrepreneurs: Serial entrepreneurs are those that are always ready to boost new
and creative ideas and innovation much rapidly and that makes them effective and give their
ideas and opinions into practical way. These things give them opportunities to start and develop

new task and ventures because of their capabilities and thought process. They are always finding
new ways and task although they are rely on only few ventures stabilize. Once a new task or
venture started its become their responsibilities to settled them effectively. They have that
capabilities and personality to bring new ideas and new modes in order to perform effectively
and get maximum positive outcomes for the business(Bukhval'd Evgenii, 2016).
Intrapreneurs: This kind of entrepreneurship define and present position of an person into the
company, In that they act and behave like an entrepreneur by involving and giving their much
innovative and creative opinions that form them to behave, act and assist as an enterpriser. They
have so much qualities and capabilities to perform and work in complex situation or uncertainty
by applying different kind of styles and techniques to develop and motivate other people and
handle that situation.
Owner-Managers: Owners and managers in the company are much capable and responsible to
handle or manage the complex circumstances and any activities that is connected to legal
activities,developing planning and different kind of policies and maintaining, tackle the
problems that is connected operations, activities and assisting workers and managers of the
company. The director and manager of the company are the one who manage and organise the
resources,develop and construct a groups and units and to allot a projects and task, to understand
and determine the performance of the entire group, unit that is there any requirement of change
or not.
Different entrepreneurial ventures.
There are several kind of accumulation in that entrepreneurship has classified to direct
and operate their operations and functions. These categories are explained below:
Survival venture: Survival venture are those that concentrate on possession and
retentive in the operations and activity of the business through satisfy and meet with financial
requirement of the company and operative capital. These kind of venture frequently modify their
activities and function to grow effectively and endure into the industry or in market by
minimising the value of the goods, workers termination and by compromising in the quality of
the product and the quantity also. There are few kinds of example that direct their operations in
UK amazon seller and many more(Demirel, Rentocchini and Tamvada, 2019). They direct their
business and functions at very small scale and mobilize accessible resources to satisfy and meet
with their requirements for their routine activities.