Entrepreneurship & Small Business Management : Essay
Added on -2020-07-23
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Entrepreneurship and SmallBusiness Management(opportunities towards smallbusiness post Brexit for UK)
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different types of entrepreneurial venture and define their relations with typologies..........1P2 Explore the similarities and differences between entrepreneurial ventures...........................3TASK 2............................................................................................................................................5P3 Assess and interpret data or statistics in mini-research for analysing micro and small-business impacts on economy.....................................................................................................5P4 Small-business and start ups contributions on the growth of social economy after Brexit...6TASK 3............................................................................................................................................8P5 Characteristic, traits and skills of successful entrepreneurs...................................................8P6 Entrepreneurial personality which reflects on motivations and mind set..............................9TASK 4..........................................................................................................................................10P7 Different backgrounds and experience that can hinder or foster entrepreneurship.............10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONEntrepreneurship consider as the procedures including designing, launching and runningthe new business. It is a creative activity in which a person come up with new ideas, strategies aswell as new concept while starting a new venture. Any individuals who create or operate thesekinds of businesses are called entrepreneurs. Entrepreneurship generally refers to person'scapacities or willingness for developing, organising as well as managing a business venture andbear risks for making profits (Ackermann, 2012). This report is based on small-businessenterprises and it will discuss about Brexit that means denotion of exit from European Unionwhich has taken by Britain. This project will defines various types of entrepreneurial venture andrelation with typologies. Some similarities and differences also discuss below. It will interpretdata for evaluating impacts of micro and small-businesses on national and social economy afterBrexit. There are various traits, skills and characteristics which discussed here. This assignmentalso describe about entrepreneur's background and experience that foster/ hinderentrepreneurship. TASK 1P1 Different types of entrepreneurial venture and define their relations with typologiesEntrepreneurial ventures generally concern with small firms in which individual bringnew innovative ideas and creativity for producing new products or services as well as grabopportunities for making profits and increase revenues so that social values can be created andalso improve economic conditions .Entrepreneur: It is a person who start a business with bringing new ideas, thoughts and frameall these for business development. He or she take responsibilities for managing entire operationswith available resources such as capital, finance, labour and land in appropriate manner forachieving set targets or objectives and also generate profits (Blackburn, 2013). Entrepreneurs aretalented and they always ready for facing challenges, take risks during running businessoperations.Here are different types of entrepreneurial ventures such as: Small-business entrepreneurship: These are small firms which starts by an individual aswell as group of people who comes up with ideas, plans, common objectives and resources whilestarting a new venture. They invest sufficient funds among various business activities but lower1
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