Small Scale Entrepreneurship : Assignment

ENTREPRENEURSHIP

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
P1 Different types of entrepreneurial venture and relation with typology of entrepreneurship. 1
P2 Similarities and difference between entrepreneurial venture............................................3
Task 2...............................................................................................................................................4
P3 Impact of micro and small business on the UK economy.................................................4
P4 Importance of small business and business start up will contribute to the growth of the
social economy after Brexit....................................................................................................5
Task 3...............................................................................................................................................6
P.5 Characteristics, traits and skill of two successful entrepreneur which differentiated them
from other business managers................................................................................................6
P6 The entrepreneurial personality which will reflect entrepreneurial motivation and mindset.
................................................................................................................................................7
Task4................................................................................................................................................8
P.7 Background and experience can hinder or foster entrepreneurship.................................8
CONCLUSION................................................................................................................................9
REFERENCE...................................................................................................................................1

INTRODUCTION
It is argued that entrepreneurship is beneficial for economic growth and development.
This view has been supported by countries that experienced substantial poverty reduction over
the last three decades. Countries like China and the East Asian Tigers are said to have capitalised
on this phenomenon to drive economic development. With these identified benefits the UK
government is promoting the concept and phenomenon for post Brexit economic growth and
development. The various types of entrepreneurial venture and they relate to the typology of
entrepreneurship. Proper investigation will help top explore the similarities and difference
between entrepreneurial ventures. Assessing and interpreting relevant data and statistics in mini
research to illustrate to shoe impact of micro and small business on the economy. Significance
small business and business start ups will contribute to the growth of social economy after Brexit
(Hatten and et.al , 2015). From the characteristic, traits and skill of two successful
entrepreneurial which differentiated them from other business manager. The entrepreneurial
personalty according to it traits and skill reflect entrepreneurial motivation and mindset. As the
background and experience can hinder or foster entrepreneurship.
Task 1
P1 Different types of entrepreneurial venture and relation with typology of entrepreneurship.
Entrepreneurship is innovation creature which will help to boost the economic
development. The various types of entrepreneurial venture which are relation to the typology of
entrepreneurship.
The types of entrepreneurial venture describe as follows:
 Small scale Entrepreneurship: This type of entrepreneurial which are not focus on large
scale but a small portion of their business with the motive of living better lifestyle. The
sales of small scale business having few worker associated with owner (Bae, and et.al
2014.). The small business act for Europe states that small scale business are those who
have 250 employees or less than that. For example a small shops in as street or local areas
can said to small business. Travel agent, food vendor.
 Scalable business or Entrepreneurship: This type of venture can be the large start-up
in which the owner of the firm will transform the size and structure of the business. The
organisation which are already well established in the industry are known as large
business. These type of venture are contributing to the nation economy and work for
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social development (Bae, and et.al 2014.). For example Facebook, amazon. These are
the venture can enhance the revenue without the extra large costs.
 Large business or industries: It is an process of developing innovative idea and
organisation opportunities to increase the probability. These types of venture will focus
on new technologies and market competitor put pressure on the entrepreneurship.
 Social Entrepreneurship: This type of venture are the working for transforming the
nation with various development. The motive these type of venture are not maximising
the huge profit but want to develop the society in terms of effective programmes.
The above are the entrepreneurial venture help to relate it typology which can be discuss as
follows:
 Sceptical entrepreneur: It is an questioning entrepreneur who will argue after the other
success (De and et.al 2018). They believe in luck and all the stars which are
involvement in the changes. The attitude of sceptical entrepreneur are based on the past
experience. As this type of entrepreneur are more scary.
 Copy cat entrepreneur: This type of entrepreneur believe in other success and
appreciated them. All things are same in terms of their card and business website as per
the other successful entrepreneur are focus for their business.
 Research Entrepreneur: This type of entrepreneur are focus on learning on each and
every step. For every situation they analysis with proper research to create the effective
opportunity for the business. But if these research are not use for the firms development
than it will be time waste activity.
 The determined Entrepreneur: This types of entrepreneur are not successful but with
the determination to do something in their life they focus to achieve their business
objectives (De and et.al 2018). The positive attitude of entrepreneur make the effective
situation in organisations.
 Accomplish Entrepreneur: This type of entrepreneur are those who achieve the success
and build large network which help to accomplish their business goals.
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