Entrepreneurship And Small Business Management [pic] INTRODUCTION Entrepreneurship is identifiedy as an effective and main process of running, designing and establishing a new business, which isoften initiallystarted as a small organisation. LO 1 1 Types of entrepreneurial venture and their interrelationship with its typology An entrepreneur is a person who has willingness and capacity in order to manage, organise and develop a new business. In business environment, different kinds of entrepreneurial ventures which are determined as under: Entrepreneurial venture: This are