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Small Businesses and Business Growth After Brexit - Report

Added on - 23 Jan 2020

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Entrepreneurshipand Small BusinessManagement
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different type of entrepreneurial ventures and their typology...............................................1P2 Similarities and diffidences between entrepreneurial ventures.............................................2M1...............................................................................................................................................3D1................................................................................................................................................3TASK 2............................................................................................................................................3P3 Impact of micro and small business enterprises on economy................................................3P4 Contribution of small businesses and business start ups to the growth of economy afterBrexit...........................................................................................................................................4M2...............................................................................................................................................4D2................................................................................................................................................5TASK 3...........................................................................................................................................5P5 Characteristics, traits and skills of two successful entrepreneurs..........................................5P6 Entrepreneurial personality reflect its motivation and mindset.............................................6M3...............................................................................................................................................7D3................................................................................................................................................7TSK 4..............................................................................................................................................7P7 Background and experience can hinder or foster entrepreneurship.......................................7M4...............................................................................................................................................8D4................................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
INTRODUCTIONEntrepreneurs are the one who undertakebusinessactivities to gain financial returns onthe amount invested in its operations. Enterprises plays a crucial and essential role in thedevelopment of the economy of the country. Small commercial enterprise plays an essential rolein the development of the economy by providing innovative products to thepeopleand and thesame time provide employment opportunities to the unemployedmasses. These enterprisesprovide an opportunity to the skilled lower levelemployeesincluding artisans to show theirtalent to the whole world. After the Brexit small commercial enterpriseplay a essential role inmaintain the economy of the country.Experiences plays an important role in encouraging the entity activities. If the owners andemployees working in anentityhave a positive experience, than this will foster the activities ofenterpriseandoppositewill be happen in theothersituation(Blackburn, Hart and Wainwright,2013). There are number motivational drivers which motivate the enterprise's activities.Different types of entrepreneurial ventures with their typologies are discussed under thereport. How mindset and motivation of enterprises affect its success and its activities arediscussed under the report.TASK 1P1 Different type of entrepreneurial ventures and their typology.Entrepreneurs are the one who start or undertake the business activity to gain profit orfinancial increases. These people undertake various business activities or take risks order to gainprofit. Entrepreneurs can be of various types including the following:Small business entrepreneurs: These type of entrepreneurs are the one under which asmall number of workers work and a small amount of money is invested in their businessoperations. Theses entrepreneurs play an important role in the development of theeconomy by providing employment to the unemployed ones.Large business entrepreneurs:A large amount of money is invested under these type ofentrepreneurs and these entities generate a large amount of profits because of their highvolume of sales.Sociable entrepreneurs: These type of entrepreneurs are start to solve the socialproblems rather than to make a large amount of profit every year. The main aim of these1
enterprises is to undertake the production activity or make the products to satisfy orsolve the social problems(Bridge and O'Neill, 2012)Start up enterprises: These are the entities who start or undertake the business activitieswith a creative idea. The main aim of theses type of enterprises is to capture a greatermarket share.Typologies of entrepreneur:Copy cat entrepreneurs: These are the organization who copy the idea of othersuccessful entities and undertake the business activities.Determinant enterprises: These type of enterprises start whit a very creative idea and doa lot of hard work to achieve success.Women entrepreneurs: Entrepreneurs whose main control relays in the hand of a womenare called women entrepreneurs.Type of entrepreneurs get affectedthrough its typology. Typology of enterprises affect itsactivities and its success a lot.P2 Similarities and diffidences between entrepreneurial ventures.There are number of entities whose activities are differs from the other. Instead of manydifferences there are number of similarities among the various enterprises. All the differencesand similarities among the various enterprises can be understood by the following:Type of entrepreneursSimilaritiesDifferencesSmall v/s large businessenterprisesSmall and large both theenterprises undertake variousbusiness activities or take therisk in order to gain profit orfinancial returns(Burns, 2010)Small amount of money isinvested in the businessoperations of small businessenterprise and on the otherhand huge amount is inveteratein the business activities oflarge business enterprises.Social v/s start up businessenterprisesBoth the enterprises undertakethe business acclivities niborder to satisfy the demands ofthe customers or offerinnovative products for theThe primary or main objectiveof social business enterprise isto solve the social problemswhether the main objective ofbusiness start ups is to capture2
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