Entrepreneurship & Small Business Management

Entrepreneurship &
Small Business
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1: Entrepreneurial Ventures.......................................................................................................1
P2: Differences and Similarities between Entrepreneurial Ventures...........................................2
TASK 2............................................................................................................................................4
P3: How micro and small businesses impact on the economy:...................................................4
P4: Importance of Small Businesses and Business Startups to the growth of Social Economy..1
TASK 3............................................................................................................................................2
P5: Characteristics of successful entrepreneurs...........................................................................2
P6: Impact of entrepreneurial personality on entrepreneurial motivation and mindset...............3
TASK 4............................................................................................................................................4
P7: Importance of Background and Experience in hindering or fostering Entrepreneurship......4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Entrepreneurship refers to a process which is used by the Entrepreneurs to be able to
target a wide variety of customers through the use of Creativity and Innovation effectively and
efficiently. Small Business Management refers to ensuring that the different types of Small
Businesses can be managed appropriately (Alemayehu and Van Vuuren, 2018). Thus both of
them are quite important for the entrepreneurs to be able to ensure that they are able to run their
entrepreneurial venture successfully without facing problems and issues. By using them, the
entrepreneurs can ensure that they can raise their overall bar of efficiency and effectiveness in
running their business. In this report, there will be specific focus on exploring and illustrating the
range of entrepreneurial ventures, assessment of the impact of small businesses on the economy,
determining and assessing the key aspects of entrepreneurial mindset. Additionally, specific
analysis on examination of different environments that foster or hinder entrepreneurship will be
discussed as a part of this project.
TASK 1
P1: Entrepreneurial Ventures
There are different types of entrepreneurial ventures. Some of them are explained as
follows-
Small Business Entrepreneurship- These are the most common type of entrepreneurial
ventures (Amato and et.al., 2017). The reason is that there are different types of small businesses
which are present within an economy and thus in this way this can help these businesses a lot to
be able to make sure that they can achieve their goals and objectives. Thus it is quite important
for the new entrepreneurs to invest in it because this helps them a lot in ensuring that they are
able to enhance their overall level of profits without facing problems and issues. In these type of
businesses, the Entrepreneurs have to invest a very low amount of capital and thus they can get
financing for these type of enterprises done very easily.
Scalable Startup Entrepreneurship- In this type of Entrepreneurship, different types of
Start-Ups can be developed by the entrepreneurs (Sozuer, Altuntas and Semercioz, 2017). They
can be used in order to target creativity, innovation and ensure that the enterprises are able to get
the desired value on their money quite easily. Thus in this way these type of enterprises,
1