Entrepreneurship and Small Business Management: Characteristics, Traits, and Skills of Bill Gates and Peter Jones

Entrepreneurship and
Small business
management

Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................4
PART-2............................................................................................................................................6
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
An entrepreneur is the one who runs and initiates the enterprise with way of limited
resources and an effective plan. It is responsible for the rewards and risk that is earned by the
business enterprise. The main idea of the venture is mainly encompassed of the new product or
service and not of any existing model of the business. The owner of the small business venture
and an entrepreneur are two separate personnel and personality who have distinct characteristics
but their main role is generally common. The business which is on small scale generally deals
with the well-known and established product or service while an entrepreneur is focused on the
creative and innovative offering. This makes it risk taker and the owner of the small scaled
business tends to take the deal with known risk and the entrepreneur takes the unknown risk
(Balmaceda, 2018). This report is divided into two parts of which the first will cover about the
varied kinds of ventures, the impact of small business on an economy. The second part will deal
with the aspects of entrepreneurial mind-set and the examination of distinct environment that can
hinder or foster entrepreneurship.

PART 1