Entrepreneurship and Small Business Management - Desklib

This project explores the different range of factors and venture which will help the business in the creation of entrepreneurial management of the organization. It analyzes the major impacts of small businesses on the economy and the importance of business start-ups and small businesses in the growth of social economy. The project examines different types of entrepreneurial ventures and their relations to typology of entrepreneurship, identification of the similarities and differences in the entrepreneurial ventures, interpretation and assessment of the relevant data which are statistically illustrates the impacts of small and micro businesses.

Entrepreneurship and Small
Business Management

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
MAIN BODY...................................................................................................................................3
Examination of different types of entrepreneurial ventures and their relations to typology of
entrepreneurship...........................................................................................................................3
Identification of the similarities and differences in the entrepreneurial ventures........................4
Interpretation and assessment of the relevant data which are statistically illustrates the impacts
of small and micro businesses. ....................................................................................................6
Importance of business start-ups and small businesses in the growth of social economy...........7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurship is the activity which is considered to be the establishment of business
and business initiatives, it consists of taking risk for the desire of profit generation. In this project
the chosen organization is ASDA which is supermarket retailer based in UK. This project will
provide illustration and exploration of the different range of factors and venture which will help
the business in the creation of entrepreneurial management of the organization. This project will
also help in the analysation of major impacts of small businesses on the economy.
PART 1
MAIN BODY
Examination of different types of entrepreneurial ventures and their relations to typology of
entrepreneurship
There are different types of entrepreneurial ventures and following are the way in which
they are related to the typology of the entrepreneurship,
Small business entrepreneurship :
These are business which are generally run by single business owners and are known to
have small numbers of employees. They also lack in the generation of their total revenue and
which is the reason why they focus more on the continuously on clients and also towards the
development of their products and services. The benefits of such business are that they can be
run by the family members of the owners and also by a friend or a partner. However, with the
help of this business many small organizations are able to reach effectiveness it their
organizational performance.
Scalable start-up entrepreneurship :
In this organization business can start to utilize innovation of ideas and focus towards
providing the innovative products and services from the beginning of the operations (Bartlett III
and et.al, 2020). These operations are considered to be the main ideas which they also believe

that with the help of their ideas they can create a change in the world. It can be said that from the
analysation of a strong mindset the business will be able to improve its overall model.
Large company entrepreneurship :
The large organization has finite life cycle which helps them in focusing on the providing
the customers new products and services which will help in the creation of sustainability and
longevity of the business. It is also considered to be the way in which the customers and trends
of its trends are helpful in the competition, legislation and also towards the disruption of the
innovative and creation of a new product in an entirely new market. The large size of this
organization makes the disruptive size of this organization much more difficult.
Social Entrepreneurship :
This is that type of entrepreneurship venture which solves the different social problems
by delivering their products and services to the organization for focusing better on the creation of
better world for the people which can be profitable and non-profitable as part of the hybrid
performance.
Identification of the similarities and differences in the entrepreneurial ventures
The differences between the different types of entrepreneurial venture can be explained
with the help of the following table,
Point of
Difference
Small Business
entrepreneurship
Scalable start-up
entrepreneurship
Large company
entrepreneurship
Social
entrepreneurship
Risks The risks of this
type of
organization is
comparatively very
low in comparison
to the other large
organization.
The risk of this
type of business
can influence
financial
investment and also
pressurize the
return of high
amount of the
investors.
The main risks
which these
medium business
have are from the
large business
which help the
business in the
management of the
organization high
For this company
also the risk is not
that high due to the
support they get
from the
government (Bell,
2017).

volume of sales.
Employee
number
The number of
employees in this
business is not
more than 50.
The number of
employees depend
on the structure and
size of the
organization.
It can have more
than 1000
employees.
Depends on of the
size of the
organization.
Structure There is lack of
proper
organizational
structure.
There are mainly
corporations or
limited
partnerships.
The organizational
structure is very
complex and can be
considered to be
limited to the public
and private limited
organization.
These
organizations are
mainly trustee
based.
The similarities in between there organizations are,
Small Business
entrepreneurship
Scalable start-up
entrepreneurship
Large company
entrepreneurship
Social
entrepreneurship
Even though this type
of organization are
smaller they have the
same goal to earn
profit just like other
entrepreneurship.
The world changing
ideology of such
organization needs the
take risks like other
business and also their
sustainability in their
performance.
Though this
organization are large
they also have to take
risks and focus their
activities towards
earning profit.
Although this
organization does not
have the motive of
earning profit, but they
also are organizations
which have somewhat
similar structure to
other businesses
(Bridge and O'Neill,
2017).

Interpretation and assessment of the relevant data which are statistically illustrates the impacts of
small and micro businesses.
The influence of the small and micro business has been in all kinds of industries in UK.
This is the reason why they have been effecting the country economy. The increasing number of
the micro business in the country has resulted in the increase it the total contribution of the
organization.
Source : Support from small business, 2020
From this analysation it can be understood that small businesses are high in different
industry which are considered to be more than 4.5 million SMEs which help the business in the
establishment throughout UK. The revenue generated by the business helps the organization in
Illustration 1: Comparison of small, medium and large businesses performance in UK
economy

the management of the GDP of UK (Münzel and et.al 2019). The analysation of the micro
business performance of UK it has been noticed that that their contribution to the employment in
the country is around 30%. Following data shows that the contribution of the small and micro
businesses are around 37% in the total turnover. The small and micro businesses provide around
48% of contributed employment to the UK economy. Current trends in between 2020 and 2021
shows that their trends in employment is almost around half of the total economy which shows
the importance of these types of businesses.
Importance of business start-ups and small businesses in the growth of social economy
The maintenance of the growth of the social economy and the start-up businesses are
known to have greater influence in the different countries which is considered to be the effective
way in which the business is able to meet the requirements of the certain customer segment with
the help of development of a product or services. Apart from this it can be said that the start-up
businesses are able to capture the market very fast if their ideas have shown effectiveness in the
performance. Most of the large organization which are stable and contribute greatly to the social
economy were always once a start-up organization. This shows how important are the start-up
organization for the social economy as they are the potential market giants. Apart from this it is
said that these organizations are very crucial in providing employment to the skilled labours in
the UK economy. Their innovative ideas give rise to the economy and providing rise in the new
industries which is very important for a social economy that opens new opportunities of
employment, business idea and contribution to the national income. It has been seen that most of
the start-up organizations are related to the social environmental and economic problems which
helps the business in enhancing the brand value of their organization (Patzelt and et.al 2021).
Thus, they believe a lot into the CSR activities which is one of the best ways in which they can
use it for developing their brand image. The growth of these organizations are directly related to
the growth of the GDP of the UK economy.
The analysation of the major importance of the growth of the social economy shows that
the small business are also very essential for the organization as contributes to the small, large
and medium data. It can be said that small and medium-sized businesses have successfully
captured the larger section of the industry and have also helped in the contribution to the
economy of UK which very highly influential. There larger businesses are also important in the

organization as they generate larger revenue by providing quality products and services. In
different counties it has been said that earning of foreign currency helps the organization with the
consideration of the different operational activities which is essential for the employing a higher
number of candidates which helps them to compare the business to other organizations. The
large organization also are seen to contribute higher amount in the CSR practices.
CONCLUSION
With the help of this project it can be concluded that in UK economy the different types
of organization small, medium and large businesses all have their own contribution to their
operations. This project was help to analyse the extent at which the small businesses were
contributed to the UK economy. This business also provides the entrepreneur's effectiveness in
the mindset and establishment in the business consideration.

REFERENCES
Books and Journals
Bartlett III, R.P. and et.al, 2020.Small business survival capabilities and policy effectiveness:
Evidence from oakland(No. w27629). National Bureau of Economic Research.
Bell, R., 2017. Entrepreneurial perspectives on the venture start-up phase: AQ methodological
approach. In ICSB World Conference Proceedings (pp. 1-8). International Council for
Small Business (ICSB).
Bridge, S. and O'Neill, K., 2017.Understanding enterprise: Entrepreneurs and small business.
Macmillan International Higher Education.
Münzel, K and et.al 2019. Different business models–different users? Uncovering the motives
and characteristics of business-to-consumer and peer-to-peer carsharing adopters in The
Netherlands.Transportation Research Part D: Transport and Environment.73.pp.276-
306.
Patzelt, J., and et.al 2021. Understanding the life cycles of entrepreneurial teams and their
ventures: an agenda for future research.Entrepreneurship Theory and Practice. 45(5).
pp.1119-1153.
Online
Support from small business, 2020[Online]. Available through:
<https://www.weforum.org/agenda/2020/04/switzerland-covid-19-coronavirus-small-
business-loans-recession-economy/>