Entrepreneurship: Types of Ventures, Impact on Economy, Skills of Entrepreneurs

This document provides an overview of entrepreneurship, including different types of entrepreneurial ventures and their typology. It discusses the impact of micro and small businesses on the economy and the effects of Brexit on the economy. It also explores the skills, traits, and characteristics of successful entrepreneurs that differentiate them from business managers. The document offers valuable insights into the role of small businesses in economic growth and the importance of innovation and risk-taking in entrepreneurship.

ENTREPRENUERSHIP

Contents
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
1.1 Different types of entrepreneurial venture and the typology..............................................................3
1.2 Similarities and differences between entrepreneurs ventures.............................................................4
TASK 2.......................................................................................................................................................5
1.3 Impact of micro and the small business on economy.........................................................................5
1.4 Impact of an brexit on economy and the impact of small business on it............................................6
TASK 3.......................................................................................................................................................6
1.5 Skills, traits and characteristics of two entrepreneurs which differentiate them from the other
business managers...................................................................................................................................6
1.6 Entrepreneurial aspect reflect entrepreneurial motivation and mindset..............................................7
TASK 4.......................................................................................................................................................8
1.7 Background and experiences which will hinder and foster entrepreneurs..............................................8
CONCULSION.............................................................................................................................................10
REFERENCES..........................................................................................................................................11

INTRODUCTION
Entrepreneurship is an activity which entrepreneur use to do to make the business make
establish, they are the people who bares the risk in developing their business and to make it more
successful. they are that people who are the main person responsible for starting the business and run it
till the end. ABC company is an company which is an consultant enterprise which use to consult the
entrepreneurs which tries to start the business or doing the business so that they would make the
proper decisions in the organization which would help them to do the proper plans in the business and
that would help them to make their business run in an accurate manner which would be helpful to them
in making their business on top. there are many type of business and from all that small business is
better than other as they plays an important role in increase in the economy of the nation.
TASK 1
1.1 Different types of entrepreneurial venture and the typology.
Their are many kind of an entrepreneurial ventures they all plays an different kinds of role in an
nations economy. the entrepreneur is the person which plays the main role in starting the business and to
make it run in an proper manner. there are four kind of entrepreneurial venture:-
 Small entrepreneurial- Small entrepreneurial venture is the business which use to be done in an
small scale, and which is been run for earning in the daily routine to earn for the daily bases. this
is the business which is been done by those people who establish it to make money to fulfill their
daily bases activities and their requirements. these business are been opened and plans to open in
an small areas or next to their door steps. these business does not required more amount to start
the business. they establish these kind of business so that they would able to fulfill the
requirements of their family and themselves. these kind of business are like electrician, plumber,
etc. they do their work so that they would fulfill their requirements.
 Large entrepreneur business- large entrepreneur business are that business which is been
established in an long bases. and these are the business which are been made to get it success in
the world and to earn the profit and so that they would be able to provide the people proper
amount and quality of products and services for an long run. this would help them in having
people to make more attractive towards their organization so which would help them in surviving
for the long run. they focus on the people by giving them the best quality which would help them
in maintain their value and brand in the market.
 Scalable entrepreneurial- these are those entrepreneur which are little crazy types they want to
become popular as soon as they enters the market and they can make the people more attracted to
them as they enters without doing any kind of efforts. whenever they enters the market they
enters with an better and new innovations and new kind of products and services which makes the
people attract in numbers, the investors are also ready to invest for these kind of entrepreneurs.
they serve the products which are unique in nature as that makes the customers to buy them and
they not have to make more efforts to convince the people to buy it.

 Social entrepreneurial- these is been owned by that entrepreneurs which tries to help or to serve
for societies benefits and they make products and services which would be useful for the society.
they try to provide help to the society in solving the social issues, their target market is mainly the
society. they mainly focus on them and their activities.
Typology of entrepreneurial
 Determined entrepreneur- they are those kind of the entrepreneur which wants to be very
determined which is they use to do the proper amount of hard work they can do to make their
business work properly they do not like to do the laziness in their work, and even they do not like
to copy any of the person or to do the things which others do in their business to make it grow.
they are the people who only wants to do the hard work. they are the people who makes the
possible efforts to make their business successful at any cost they do not like to follow any one
and to make the things or do the things like the other entrepreneurs.
 Accomplished entrepreneur- these are the entrepreneurs which had been made an much efforts to
run the business and faced many problems but they had at last reached to the end success and
now they want to make their business scalable which would help them extend beyond the life.
they know and made research and they know properly that how to make the proper plan to attract
more customers and to be connected with them they are person who knows the value of the time
so they take care of it. so they use to manage their time in an proper way and they know how to
manage it as they prefer time as the most important part. they take proper care so that their work
would be done on an proper amount of time. for them time is the most important resource.
 Skeptical entrepreneurs- these entrepreneurs are the people who use to question a lot, for the
success of the others they use t make questions on that also. they have the thought that the people
who gets the success does have anything with them which is lucky to them and by which they got
success. these are the people who wants for the miracle to happen in their life to get success they
feel that the star to come on earth which would help then in getting success among others.
 Copycat entrepreneurs- they are the people who are the copycats which use to copy others and
make the products and provides service which is same as the others. they do not make efforts to
think to make something new and different. they use to produce the same websites and the
business cards, etc. they are the same/ carbon copy of the other organization.
 Research entrepreneur- these are the people who likes to make the proper researches while doing
anything, they tries to study as much as they can and they makes an proper plan and generate
ideas to processed further.
1.2 Similarities and differences between entrepreneurs ventures.
Different types of ventures Similarities Differences
Small and social
entrepreneurial
They works in an small area
and it had been started for
themselves or for families,
they earns for fulfilling the
daily bases activities.
Both of them has the
differences, they both operate
in different condition, the
small ventures produce
products specially which are
related to daily materials and

in social they use to produce
the products and the services
while keeping the social
factors in mind.
Large and scalable
entrepreneurial
They both works as an long
range they both needs to be
popular in between the people
and tries that people should
know them as much as
possible.
Large entrepreneurial focus to
make their business run for the
long time and they would get
the achievement for long,
In scalable the entrepreneurs
wants to become popular as
they enter in the market and
their main purpose is only to
make the unique products and
services and become popular
for some time and then after
that they try to innovate
something other innovate
products.
TASK 2
1.3 Impact of micro and the small business on economy.
It is important to have the economy of the nation in an good condition as that make effect
on the peoples of the nation and to make it improve or to increase the economy it is good to
establish the small scale business in an nation it would help in increasing the economy as that
would provide the people of the nations who does not have employment in getting the earnings
and they can make money while staying in their nation only. if the government wants to make
their economy grow then they should motivate the people to start the small kind of business and
for that government should make some kind of policies and they should help them in starting up
the business. this would help the people to think about to start the business which would be
helpful in providing the people an employment and that would make them earn which will be
helpful to their families so that they would fulfill their requirements and that would make
increase in the economy which is again good for the people living in that nation and for
development of that nation.
Small business can contribute to make its nations economy better if the people think
about the small business seriously then they would make it better and easy if there would be
many small business in the places then there may have many varieties of the products will be
there the customers have the varieties of options and because of that they do not have to go to the
other places to buy the products and by that money of the country will be in their country only,

the need of the customers also be fulfilled. it is better to have small business in the nation so that
there can be many varieties of things can be introduced in the markets which would give the
people to have many options to buy.
small business makes the economy to become better than it was before. if the government
will make any kind of policies for the entrepreneurs and they would motivate them to plan and
start the small business then they would be having many chances to increase the economy and to
make the people get more to do and they do not have to go to the other places for the work or to
buy the products as they will get at their own country so the money will not be spend onto the
other places so that help in making good economy of the nation.
1.4 Impact of an brexit on economy and the impact of small business on it.
Brexit is an part when the British exit from the European country so that was called an
Brexit, this was been occurred due to some of the issues came in between the two countries
which had made them apart from each other. they had good contacts in terms on business they
made business in an better manner together but after brexit all the business which they had in the
each country had been stopped or moved which had made very much problematic to both of
them as that made an great impact on the economy of the both nation also. they are now trying to
make their economy better as they had before so they would get an better economy which will
help in the development of the nation in an proper way. and the people residing in that nation
would get help from the increase of the economy. to make it better the people and as well as the
government also tries to make the economy better which would make their country in better
condition. small business have the ability to increase the economy as the small business better to
open as that does not contain a lot of amount to make establish and that would can give
employment to the people who were working in the European country and now which had been
unemployed because of Brexit. as the people does not get ready to think about starting business
as they does not have the proper amount of fund to establish so the government would make the
some of the policies for them and they should been provide an funds which would make them get
some help. and that can give motivation to the people so that they would think of establishing
business this can make many changes in the nation and help them in achieving good economical
conditions. they should focus on the things which is not having in the nation and for what the
people has to go to the other places to buy so they should try to produce that products so the
people does not have to go to the other places for purchase of the products and by this nation
would get help in getting the money and the money of the people will stay in their nation only,
which would make them get their economy increase in an proper way.

TASK 3
1.5 Skills, traits and characteristics of two entrepreneurs which differentiate them from the other
business managers.
The both entrepreneurs and the managers are the similar and they are an individual
players in an market but some of the difference in them makes the entrepreneurs in having the
unique personality and that is the innovation factor and they have an risk barring nature, they are
the very create person and they would have the nature which they can take high risk. they tries to
make the betterment of the nation. they believe in doing the hard work which would result in
doing something better for them and their business.
Two very well entrepreneurs Bill Gates and Mark Zuckerberg. These are the people who
are very much hard working and they are very much effective with their work and their efforts
has change the whole world, every person in the world is aware about them even children know
about these two famous personalities. The innovation which are been done by them are very
much different and they unique that is the reason which had been made them what they are now
some characteristics and traits which make them different from business managers.
Mark Zuckerberg and Bill Gates
Passionate- He was passionate person for what so ever the task is given to him, he does it with
passion. He always wished to create such thing which can connect the people with each other. He
wanted that the world to be very wide. His interest was in technology since his childhood.
Passion for him was like what he has decided he has to achieve that unless he become restless.
This trait has made him a very successful entrepreneur of all the time. Similarly Bill Gates was a
very identified personality. He was also very much passionate towards his work. He use to wake
for many nights just to justify his own dreams. It is not a simple routine that all can do this is the
reason which differentiate him from business managers. Motivated- These two personalities were
well aware about their aims and objective therefore they were always been very much self
motivated. They never felt any one should counsel them and motivate them. This trait was inbuilt
in them since their birth. They always did their work with full efforts and which now can be very
effectively seen an applied in the current scenario.
Grounded- These are the entrepreneurs who are great personalities still they never show off their
achievements because they are very down to earth. They do every small to big task as their
needs. They never felt biased for anything. The task whatever was given to them to do was like
the ultimatum for them they fulfill it on time
1.6 Entrepreneurial aspect reflect entrepreneurial motivation and mindset.
Mark Zuckerberg and Bill Gates are the entrepreneurs who changed the scenario of the
world, there are many factors that made them what they are now. The influence of the family,
society cultural factors lifestyle are the things that can make a layman an entrepreneur. The one

who some or the other way got influenced by these forces definitely attain big thing in his or her
life as these twp renowned personality has done.
Social factors- society is the most effective factor through which anything of the world can be
affected positively or negatively. Those who are risk takers they defiantly face them as
challenging factor and do great thing in their life and many are like those get de-motivated with
societal aspect and quit the task in between which will make them a failure. Entrepreneurs are
achiever not failures, they might fail many times but they do not quit their tasks in between
 Family background- These two personalities are very much influenced by their family
and their upbringing. Although money was not a constrain for them but yes they have the
will to do something different which will make the world to talk about them. Their
dedication and motivation to do unique things made them the best entrepreneurs of all
the time. The family really plays a very big role in one’s success. The way the family
support no one can do to anyone. With the support of their parents and with their effort
too they have become successful entrepreneur. The upbringing was very supportive to
both of them. The willingness and goal oriented attitude has been inculcated in them are
just a genetic factor in general we can say, rest it's their own struggle and effort that
made them successful personals.
 Self dedication and motivation- The most and the foremost thing is that the determination
and dedication of them to attain the objectives and goals made them great people. They
were the people who always believed in dreaming big. As big the dream is the result
would be that much big. This is the mantra that every individual should follow to become
people like them. We can cont be like them but we can follow their view and ideas which
as a guide can support us as well. It is very must for one to have dedication and
determination towards what so ever he or she is doing similarly as these two elite
personal had.
TASK 4
1.7 Background and experiences which will hinder and foster entrepreneurs
Entrepreneurs are that persons which make efforts to take their business high or to open
their business, they are the risk takers or the risk barriers, they use to make different plans and
they have to implement it also, if they want to make their enterprise grow then they have to take
risk in each and every steps, every successful entrepreneurs have very hard working stories
behind them, they may also had very much of problems and difficulties while making the
business but they had face all that problems that is why they are here and if they had dropped
that then they would not be able to reach where they are now so to become successful then hard
working should be there, if they will not do hard work and do not face the problems it means
they can't be able to become successful in their life. they have to take risk in step and has to

work hard and they have to face problems in every step they take next if these things will not
come in their way they not be successful and they will not be able to learn anything these all
things come the ways of the entrepreneurs so that they can learn from it and can be able make
decisions and they will not have these problems then they are not the true entrepreneur because
the meaning of the entrepreneur is the person who takes risk if he will not tale risk then what will
he do, all the entrepreneurs should take motivations from that entrepreneurs which become
successful and to come on this positions the problems which they had been faced because their
experiences and there background can be motivational for the struggling entrepreneurs, they
should take knowledge from them and should gain ideas from them so that it can be beneficial
for them to make their business successful. it is good to take knowledge as much as can.

CONCULSION
From the above report it is been analyzed that the entrepreneur do have an needed skills
and knowledge so they would make the business establish, they have to know all the thing and
take proper knowledge from others, they manly do have some qualities so they can make their
work proper and effective, they should have the nature to bare risk and should know to make
better plans whenever it s needed and they should stay on the created plan so there would no
problems can occur in their business they would have the talent to bare the risk. economy of all
the nation is necessary as it helps in growth of the nation, and to make the betterment of the
people of the nation. and to increase economy government should plan to focus on establishing
the small business all over which is necessary that will help the economy to grow more than it
was before and it will make many kind of difference in nation as it will provide employement to
the people who has need of it, that people can be able to make money and they can be able to
make their requirements fulfill and specially the day to day requirements of themselves and
their families. so doing the small business in the nation can do many of such changes which
would be able to achieve many things and can make the nation good and the person residing
their will get some satisfaction which is an important part.

REFERENCES
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659.
Hall, J.K., Daneke, G.A and Lenox, M.J., 2010. Sustainable development and entrepreneurship:
Past contributions and future directions. Journal of Business Venturing. 25(5). pp.439-448
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entrepreneurship. Journal of Business Venturing. 25(5). pp.481-492.
Agarwal, R., Audretsch, D and Sarkar, M.B., 2010. Knowledge spillovers and strategic
entrepreneurship. Strategic Entrepreneurship Journal. 4(4). pp.271-283.
Von Graevenitz, G., Harhoff, D and Weber, R., 2010. The effects of entrepreneurship
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Online
entrepreneurship. 2017. [online]. Available through.
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