Entrepreneurship and Small Business Management

Entrepreneurship and small
business management

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
P1. Types of entrepreneurial ventures.........................................................................................3
P2. Similarities and differences...................................................................................................4
P3. Impact of small and micro business on economy..................................................................6
P4. Impact of SMEs and start-ups on social economy.................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
Books and Journals....................................................................................................................10
Online ........................................................................................................................................11

INTRODUCTION
Entrepreneurship and small business management are considered to be those favourable
aspects in order to aim for a good economy of the organisation. Entrepreneurship and small
business management will go hand in hand with successful strategies that are implied on the
micro as well as the small businesses that represents more over 90% of the active companies
economy. The total financial turnover of these business is said to be complied upon the large
business and the activities that are involved in managing the business is said to be a purposeful
profit-making decision (Alsafadi and et.al, 2020). The entrepreneurship defines different set of
activities that are to be performed in the business on creating broadest sense of proprietary
shapes that involve in engaging different capacities and abilities of the financial decisions in an
organisation. All these activities are carry forwarded in pursuit of value which is to be generated
upon every activity that is committed in the organisation. This entire report will deal with
Entrepreneurship and small business management and the aspects along with atrocities are
portrayed. One will not be able to avail the choices of entrepreneurship unless and until all the
factors that are lying in coherence with the aim and goals of the organisation. The organisation
that is chosen in this regard is Ernst and young. The company Ernst and Young is referred to a
multinational professional services which are headquartered in London. The primary factors like
that of providing education and soft tag as well as consultancy advisors and services are being
provided by the organisation. The entrepreneurship as well as the business management of this
professional services network is being put forth in this report.
MAIN BODY
P1. Types of entrepreneurial ventures
Entrepreneurship is considered to be one of those aspects where individuals come up with
their own decisions of taking up a business or an industry by the prospect of making profits
(Nassif and et.al, 2020). There are different types of ventures that come into concept of
entrepreneurship which starts as small businesses and there comes the management. The
different types of entrepreneur ventures are as follows:
Entrepreneurs: an entrepreneur is defined to be that person who is willingly taking up charge
over the operational policies of an enterprise or the one that is aiming for accountability with the
decisions that are being incorporated into coming up with a new business. The different terms

and conditions that are employed by entrepreneur your will lead to a good management as well
as employment will be generated with the idea that is incorporated. The essence of every
business starts with an initiation and that initiation is probably being tackled by an entrepreneur.
Serial entrepreneur: a serial entrepreneur is defined to be and immediate stage of being an
entrepreneur who is starting with a single business. A serial entrepreneur is the one who will
tackle more than one business at a same time and there will be a set of profitable aspects that are
being incorporated by all the businesses. In day to day life there are many business contacts that
will revolve around generating brands as well as developing the Organisational Management.
The serial entrepreneurs are those that will start with an initiation of one or more business for
multiple businesses at a time. Although it is a typical task to accomplished yet these serial
entrepreneurs are defined to be those that are completely involved in making decisions that are
mostly available and incorporated for making profits. This type of entrepreneur usually succeed
in a more enormous way than the usual entrepreneur (Ismoilov and et.al, 2020).
Intrapreneurs: when a large group of entrepreneurs form as a group in order to operate for all
the circumstances of the organisation then they are termed to be the breed of intrapreneurs. The
large organisations will require different products and services and that can only be possible
when people with different ideologies come as a group and intervention in organisational
activities and incorporate the same in motivating that choices to bring about the services and
products for the organisation. This group is term to be the intrapreneurs.
Owner manager: the owner manager is defined to be that principal asset for any organisation
that is moving ahead to establish and manage certain Enterprises by personally establishing the
goals. The primary source and income of this particular enterprise will revolve around the
manager who is owning the business. The day-to-day operations of the business will lie in the
prospect of this owner manager.
P2. Similarities and differences
Similarities: there are different levels of similarities and the different opinions are said to
be similar in the prospect of generating for creating the value for a product or an organisation.
Through the definition of entrepreneurship one can easily portrayed that every entrepreneurial
idea is to generate a particular value and that is created and considered to be an epic similarity.
One of the most prosperous similarity that pertain to every entrepreneur shape is that they focus