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The Impact of Micro and Small Business on the Growth of the Social Economy

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Added on  2020-10-05

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ENTREPRENEURSHIP INTRODUCTION 1 P1Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship1 P2 Explore the similarities and differences between entrepreneurial venture 2 P3. It is responsible for all risk facing in market as to achieve an objective desire from market.There are four different type of entrepreneurship which is as follows:- Small Business Entrepreneurship The new innovation in market with an increase in number by passing every single day of entrepreneurs and start-ups

The Impact of Micro and Small Business on the Growth of the Social Economy

   Added on 2020-10-05

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ENTREPRENEURSHIP
The Impact of Micro and Small Business on the Growth of the Social Economy_1
Table of ContentsINTRODUCTION...........................................................................................................................1P1Examine different types of entrepreneurial ventures and explain how they relate to thetypology of entrepreneurship......................................................................................................1P2 Explore the similarities and differences between entrepreneurial venture ...........................2P3. Data and statistics to illustrate how micro and small businesses impact on the economy...3P4. Importance of small businesses and business start-ups to the growth of the socialeconomy......................................................................................................................................5P5.Characteristics traits and skills of successful entrepreneurs. ..............................................7P6 Entrepreneurial personality reflect entrepreneurial motivation and mindset ........................8P7 Background and experience can hinder or foster entrepreneurship.......................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
The Impact of Micro and Small Business on the Growth of the Social Economy_2
INTRODUCTIONEntrepreneurship defines as a word which posses a whole business in itself. It act as a proper business in which transaction of money works to get maximum profit from market. It creates a business in market which build and place with an existence to earn revenue from it. Business enters in market to solve problem of customer (Kirzner, 2015). It creates a need in market and focus on customer need and wants by which it attracts thousand of consumer to earn profit from it. Customers are the king in market and fulfilling their wish is the main purpose of an entrepreneurship. Entrepreneurship can be define as solving big problems, It can be solve by social change, creating an innovative merchandise to offer in market, a solution to give a new change in life etc.Entrepreneur enters in market with innovative ideas and fulfil the existence need in market by offer its product. LO1P1Examine different types of entrepreneurial ventures and explain how they relate to thetypology of entrepreneurshipThe forces of demand and supply of a good or services in market showcase a properscenario for an individual or a group to launch product. An entrepreneur defines as an individualwho focus on market and finds the demand of a particular product to start and runs a businesswith limited resources and full-flesh planning (Dees, 2017). It is responsible for all risk facing inmarket as to achieve a desire objective from market. There are four different type ofentrepreneurship which is as follows:- Small BusinessEntrepreneurshipThe new innovation in market with an increase in number by passing every single day of entrepreneurs and start-ups in the United States are still small businesses told or to run market. Small businesses can be of different type such as grocery stores, hairdressers, consultants, travel agents, internet commerce, carpenters, etc. Small business entrepreneur can be anyone who focus in maintaining or running his/her own business and hire local employees or family for theprocess of money transaction and other work. For example: Funeral care etc. 1
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ScalableStart-upEntrepreneurshipScalable start-ups entrepreneurs starts a company knowing from day one as to get moreprofit from their vision could give an innovation for a change in the world. Attractinginvestment from different part and hiring best and brightest person across the world in the maintask of it. It focus on market as to get more profit from it. For example: Ma Baker.LargeCompanyEntrepreneurshipLarge companies have many different stages of growth and even many differentdepartment to understand the work process (Kuratko, 2016). Mostly grow through sustainabilityin market as to achieve a level by its innovation, offering new products by finding exact need inmarket. Changes in the taste of a consumer, adaptation of new technology, legislation, etc. cancreate pressure for more disruptive innovation – requiring large. For example: Google andfacebook.SocialEntrepreneurshipSocial entrepreneurs are innovators who focus on creating products and services thatinvolves in market to solve social needs and problems. It make the world a better place, not totake market share or to create to wealth for the founders as to get more profit from every corner.These can be treated as for-profit, or hybrid.For example: NHS ETC. Typology of technology which focus in improving market culture andbased entrepreneurs as to adopt different innovation in getting good growth (Burns, 2016). Amodel which has worked with an experience and based on previous occupational background toexamine or finding previous research into an organizational backgrounds from which technicalentrepreneurs focus and improve it with proper process and technologies for future stability inmarket. These all entrepreneurship which has discussed are totally dependent to Typology as itfocuses on new technology to move forward in a proper manner.Classification of entrepreneurial typologies:Female entrepreneur: When any female established its own business for facilitating innovativegoods or services to society. They are usually more creative in comparision to other one likeEmma Kane, CEO of Red leaf communication.2
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