Assignment About the Front Sheet 2022

Assignment front sheet
Learner name Learner Student I.D. Assessor Name
Navroop Sandhu 1017470 Miss Sabrina Tsang
Date issued Submission Deadline Submission Date
5th January 2022
23rd February 2022 23rd February 2022
Resubmission Deadline (If appropriate) Resubmission Date (If appropriate)
Internal Verifier Name Internal Verification Deadline
Qualification Unit number and title
Pearson BTEC Level 5 Higher National Diploma in Business Unit 9: Entrepreneurship and Small Business Management
Assignment title Assignment 1: Entrepreneurial Ventures
Criteria
reference To achieve the criteria the evidence must show that the student is able to: Evidence
(Page no.)
LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial
P1 Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship 13-23, 42-45
P2 Explore the similarities and differences between entrepreneurial ventures. 45-47
M1 Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding
of entrepreneurship in both the public and corporate sector. 23-25
D1 Critically examine the scope, development and growth of entrepreneurial ventures. 26-41
LO2 Assess the impact of small business on the economy
P3 Interpret and assess relevant data and statistics to illustrate how micro and small
businesses impact on the economy. 53-58
P4 Explain the importance of small businesses and business start-ups to the growth of the
social economy. 59-60
M2 Evaluate the differences small, medium and large businesses make to the economy,
applying relevant data and statistics 60-63
D2 Critically examine how small businesses have an impact on different levels of the
economy (local, regional, national) and in an international context. 64-78
Learner declaration

Plagiarism
Plagiarism is a particular form of cheating. Plagiarism must be avoided at all costs and students who break the rules,
however innocently, may be penalised. It is your responsibility to ensure that you understand correct referencing
practices. As a university level student, you are expected to use appropriate references throughout and keep carefully
detailed notes of all your sources of materials for material you have used in your work, including any material
downloaded from the Internet. Please consult the relevant unit lecturer or your course tutor if you need any further advice.
Student Declaration
I certify that the assignment submission is entirely my own work and I fully understand the consequences of
plagiarism. I understand that making a false declaration is a form of malpractice.
Student signature: Navroop Sandhu Date: 9-2-2022
BTEC Assignment Brief
Qualification Pearson BTEC Level 5 Higher National Diploma in Business
Unit or Component
number and title Unit 9: Entrepreneurship and Small Business Management
Learning aim(s)
This unit provides students with an understanding of the definition and scope o
entrepreneurship and an understanding of the enables and barriers to business start-up
Students will learn about the influence of national culture and economy on entrepreneurshi
and will explore the personal characteristics of entrepreneurs and the impact of persona
situational factors, including education and background.
Students will also learn about the role and importance of small firms to the economy, an
about social enterprise and the social economy.
Assignment title Assignment 1: Entrepreneurial Ventures
Assessor Miss Sabrina Tsang
Vocational Scenario
or Context
You currently work as business consultant for a consultancy firm that provides advice and
market intelligence to small businesses and entrepreneurs. As part of updating the new
website you have been tasked with investigating different types of ventures and their impact
upon the economy to put on a webpage. This is a mini research project that is based on a
range of different examples, one of which should be a local business.
You should choose one example of each type of entrepreneurship, at least one of which
should be a local business. You must explore and compare different environments for each

of your examples and evaluate their impact and importance on the economy at different
levels. You should include data and statistics to support your findings.
Provide a report of the following according to the above scenario:
Activities
Activity 1 – Explore and illustrate the range of venture types that might be considere
entrepreneurial: (LO1 - P1 and P2)
I. Scoping and defining entrepreneurship:
1. What is entrepreneurship? Defining entrepreneurship, entrepreneurial activity an
enterprise.
2. The differences between serial entrepreneurs, intrapreneurs and owner- managers.
II. The typology of entrepreneurship:
1. Lifestyle and growth firms. Entrepreneurship in a corporate or public sector contex
2. Roles and characteristics of micro, small and medium-sized organisations.
III. Social enterprise:
1. Understanding social enterprise, social entrepreneurs and the growth of the socia
economy.
Activity 2 – Assess the impact of small business on the economy: (LO2 – P3 and P4)
IV. Where entrepreneurial ideas come from:
1. Definitions of creativity and innovation.
2. The main sources of generating business and entrepreneurial ideas. How businesses protec
intellectual property rights.
V. The role and importance of small firms:
1. The number and type of small firms and their contribution to the economy at national,
regional and local level.
2. Factors to consider: size, turnover, profit, rate of growth, innovation, sustainability and
adaptability.
VI. International aspects of entrepreneurship:
1. How international differences impact upon business start-up.
Submission Format Your assignment should be typewritten in Times New Roman, font size 12, 1.5 lines spacing
on A4 paper, page numbered and be submitted bound. This is in the form of an individual
assignment. You are required to make sure of headings, paragraphs and subsections as
appropriate, and all work must be supported with research and referenced using the Harvard
referencing system. Please also provide a bibliography using the Harvard referencing system

A cover page, table of content page, charts/diagrams/process and a reference page is
used as the skeleton of the assignment.
Sources of
information to
support you with this
Assignment
BURNS, P (2011) Entrepreneurship and small Business. 3rd Ed. Basingstoke: Palgrave
Macmillan.
DOWN, S (2010) Enterprise, Entrepreneurship and Small Business. London: Sage.
CARTER, S and JONES-EVANS, D. (2012) Enterprise and Small Business: Principles,
Practice and Policy. London: Pearson.
GRIFFITHS, A and WALL, S. (2011) Economics for Business and Management. 3rd Ed.
Harlow: Pearson.
Other assessment
materials attached to
this Assignment
Brief
Nil

Assessment Criteria
Pass Merit Distinction
LO1 Explore and illustrate the range of venture types that might
be considered entrepreneurial
D1 Critically examine the
scope, development and
growth of entrepreneurial
ventures.P1 Examine different types of
entrepreneurial ventures and
explain how they relate to the
typology of entrepreneurship.
P2 Explore the similarities and
differences between
entrepreneurial ventures.
M1 Investigate a diverse range
of entrepreneurial ventures to
demonstrate an understanding
of entrepreneurship in both the
public and corporate sector.
LO2 Assess the impact of small businesses on the economy D2 Critically examine how
small businesses have an
impact on different levels of
the economy (local, regional,
national) and in an
international context.
P3 Interpret and assess relevant
data and statistics to illustrate
how micro and small
businesses impact on the
economy.
P4 Explain the importance of
small businesses and business
start-ups to the growth of the
social economy.
M2 Evaluate the differences
small, medium and large
businesses make to the
economy, applying relevant
data and statistics.

ASSESSMENT RECORD SHEET
Qualification Pearson BTEC Level 5 Higher
National Diploma in Business Learner name Navroop Sandhu
Unit Number and title Unit 9: Entrepreneurship and
Small Business Management Assessor name Miss Sabrina Tsang
Assignment title Assignment 1: Entrepreneurial Ventures
First Submission
Deadline 23rd February 2022 Date submitted
Has an extension to the deadline been approved by the Assessor due to extenuating
circumstances? (If appropriate)
Targeted
criteria To achieve the criteria, the evidence must show that the student is able to: Achieved?
P1 Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship.
P2 Explore the similarities and differences between entrepreneurial ventures.
P3 Interpret and assess relevant data and statistics to illustrate how micro and small
businesses impact on the economy.
P4 Explain the importance of small businesses and business start-ups to the growth of the
social economy.
Higher Grade achievements (where applicable)
Grade descriptor
M1 Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding
of entrepreneurship in both the public and corporate sector.
M2 Evaluate the differences small, medium and large businesses make to the economy,
applying relevant data and statistics
D1 Critically examine the scope, development and growth of entrepreneurial ventures.
D2 Critically examine how small businesses have an impact on different levels of the
economy (local, regional, national) and in an international context.
Assessor declaration
I certify that the evidence submitted for this assignment is the learner’s own. The
learner has clearly referenced any sources used in the work. I understand that false
declaration is a form of malpractice.
Assessor signature Date
Date of feedback to learner

Learner signature Date
**Any resubmission evidence must be submitted within 15 working days of learners receiving
assessment feedback
Resubmission
Deadline Date submitted
Targeted
criteria
Criteria
achieved Assessment comments
General comments
Learner Declaration I certify that the evidence submitted for this assignment is my own. I have clearly

referenced any sources used in the work. I understand that false declaration is a form of
malpractice.
Learner signature Date
Assessor declaration
I certify that the evidence submitted for this assignment is the learner’s own. The
learner has clearly referenced any sources used in the work. I understand that false
declaration is a form of malpractice.
Assessor signature Date
Date of feedback to learner
**Any resubmission evidence must be submitted within 15 working days of learners receiving
assessment feedback

Higher Nationals - Summative Assignment Feedback Form
Student Name/ID Navroop Sandhu/ 1017470
Unit Title Unit 9: Entrepreneurship and Small Business Management
Assignment Number 1 Assessor Miss Sabrina Tsang
Submission Deadline 23rd February 2022 Date submitted
Re-submission Deadline Date re-submitted
Assessor Feedback:
Grade: Assessor Signature: Date:
Learner Signature: Date:
Resubmission Feedback:
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Signature & Date:
* Please note that grade decisions are provisional. They are only confirmed once internal and
external moderation has taken place and grades decisions have been agreed at the assessment board.
Pearson Education 2016
Higher Education Qualifications

Pearson BTEC Level 5 Higher National Diploma in Business
Unit 9: Entrepreneurship and Small Business Management
Assignment 1
Assignment Title: Entrepreneurial Ventures
Student Name: Navroop Sandhu
Class: BDB15
Assessor Name: Miss. Sabrina Tsang
Date issued: 5th January 2022
Completion date: 23/2/2022
Submitted on: 23/2/2022

Content
s
Exclusive Summary.................................................................................................................13
Entrepreneurship......................................................................................................................13
Entrepreneurial Activity...........................................................................................................14
Enterprise.................................................................................................................................17
Discussion of different types of entrepreneurial ventures........................................................17
Investigate A Diverse Range of Entrepreneurial Ventures to Demonstrate an Understanding
of Entrepreneurship in Both the Public and Corporate Sector.................................................23
The scope, development and growth of entrepreneurial ventures............................................26
Explanation of how these relate to the typology of entrepreneurship......................................42
The Difference between serial entrepreneurs, intrapreneurs and owner-mangers...................45
Explore the similarities and dissimilarities between entrepreneurial ventures........................47
Explain the role and the Characteristic of micro, small and medium-sized Economy............48
The growth of the social economy...........................................................................................52
Interpret and Assess Relevant Data and Statistic to Illustrate the Impact Micro and Small
Business Have on The Economy..............................................................................................53
Explain The Importance That Small Businesses and Business Start-Ups on The Growth of
The Social Economy................................................................................................................59
Evaluate The Differences That Small, Medium and Large Businesses Make to The Economy
..................................................................................................................................................60
Critically Examine How Small Businesses Have an Impact on Different Levels of The
Economy in A Local, Regional, National and International Context......................................64
Conclusion................................................................................................................................78
Reference.................................................................................................................................79

Exclusive Summary
This report will provide a brief introduction to the entrepreneurship and entrepreneurial
ventures and also talks about the typology of entrepreneurship. In addition to this, it also
covers the differences between the types of entrepreneurial ventures. Including the functions,
role and impact of small business on different level economy, including local, regional and
national.
Entrepreneurship
Business is the demonstration of making a business or organizations while building and
scaling it to produce a benefit.
However, as a fundamental business definition, that one is a piece restricting. The more
current business venture definition is likewise about changing the world by tackling
enormous issues. Like achieving social change or making an imaginative item that shakes
things up of how we carry on with our lives consistently.
Business is how individuals take their profession and dreams into their hands and lead it
toward the path they need.
It's tied in with building a day-to-day existence in your own specific manner. No supervisors.
No limiting timetables. What's more nobody keeping you down. Business people can venture
out into making the world a superior spot - for everybody in it, including themselves.
(Ferreira, 2021)

Entrepreneurship is the basic process of taking any risk to start any business. There is no
alternative to taking any risk if one wants to succeed in a professional career by engaging in
business activities. Normally, entrepreneurship is related to the activities that are generally
inaugurated by an entrepreneur. So, it can be said that what an entrepreneur does is known as
entrepreneurship (Baum, 2007). To earn profit and make financial changes are the main
motive of entrepreneurship. Entrepreneurship is also a theoretical practice for gaining success
from the overall business activities. In order to perform a smooth operation, an entrepreneur
has to be very aware and sincere for operating services and actions. There are differences in
activities regarding the organization as the ventures can be varied according to the natures.
Facebook is an illustration of an adaptable start-up. In spite of the fact that Mark Zuckerberg
initially planned it for his school, the long-range informal communication webpage has
become one of the most visited and most worthwhile organizations on the Internet starting at
2015.
Innovative achievements of Marissa Mayer, the CEO of Yahoo starting at 2015, incorporate
making new substance stages, carrying out new work strategies and recuperating organization
proprietorship through stock buybacks. She likewise has extended Yahoo by obtaining
different organizations.
Betsy Nunez and Emily Nunez Cavness' organization, Sword and Plow, makes overflow
military things into style extras. The organization gives 10% of benefits to veterans. This is
an illustration of social business, where organizations furnish items and administrations to
assist with social issues.
Charge Nowak and Gail Gentry are franchisees of two Checkers eateries. Establishment
business visionaries purchase turn-key organizations and receive supplies and tasks help from
the establishment partnerships as a trade-off for portions of their benefits. (Reference, 2020)

Entrepreneurial Activity
Pioneering movement is separated from the generally static administration. It is worried
about the course of progress, rise, and formation of business exercises. Innovative exercises
happen inside a business setting, which is affected by monetary, political, legitimate, social,
social, social, and regular settings. In endeavour such pioneering exercises, the business
visionary is trying to make esteem. Pioneering movement is unique in relation to common
business action. Pioneering exercises don't restrict to new business sectors or new items
alone, yet in addition incorporates new cycles, arranged or planned. Enterprising movement
incorporates the passage of new business sectors, the making of new items or administrations,
as well as the advancement related with various business exercises. Pioneering action can in
this way be related with natural as well as rapacious choices (IGI Global, 2022)
Employing an Assistant
Most business people are on an exceptionally strict spending plan when they get everything
rolling, and employing a staff is likely not a reasonable choice. Nonetheless, business
visionary should recruit an aide when their organization begins creating a gain.
At the point when business visionaries attempt to do everything without help from anyone
else, they get stalled on irritating assignments, for example, reacting to messages or booking
arrangements.
These sorts of assignments can kill their efficiency since they become zeroed in on minor
issues rather than the ideal vision of their organization. business person could go the entire
day gazing at their inbox when the ought to go through their day developing and idealizing
their business.

Remote helpers are ideal for new business people. business person don't need to pay them
similar rates as a full-time worker and they can utilize them when they need. A remote helper
can assist them with getting sorted out their information and deal with undertakings that don't
add to the development of their organization.
Putting resources into an associate will assist business visionary with making the following
stride in their organization's advancement.
Tracking down a Mentor
Tutors are incredibly helpful for youthful business visionaries. Despite the fact that the
universe of business venture might be unfamiliar to them, there are individuals who have as
of now gone through the thing they are going through.
They have misstopped the same way that they might be making and they can assist them with
keeping away from these errors later on.
There are numerous ways that they can track down a guide in their industry. Gatherings and
workshops are incredible spots to meet business specialists who will gladly impart their
knowledge to them. business visionary can likewise track down coaches via looking on the
web.
Facebook and LinkedIn are incredible interpersonal interaction sites where they can track
down guides.
For instance, assuming the business person are hoping to enter the land business, they need to
look for specialists in the land field. To begin a product administration, search for other
people, who have fruitful programming new businesses.

Observe a coach that will show them the ropes and assist them with taking their business to a
higher level. (Yoon, 2022)
Service
It is any business that requires work to be done, with or without the use of tools or equipment,
whether skilled or unskilled. Examples of service workers: beauticians, barbers, electricians,
plumbers, designers and landscapers.
Enterprise
Business is tied in with creating and making a business to acquire benefits. The advanced
definition accentuates the change of the world by taking care of large issues. This can be
connected with fostering another item or administration, starting social changes, or
introducing a significant ground-breaking thought. As depicted by (drucker, 2014), "business
is the most creative methodology towards the business tasks to make due, sort out, and lead
the labour force of an association. This is done to accomplish the hierarchical objectives.
For example, DELL, Dell makes PCs, servers and organization gear for the undertaking and
has as of late ventured into the administrations business, including winning an offering battle
to purchase Quest Software for $2.4 billion and their large open doors is Storage frameworks,
especially new frameworks based on streak innovation. Dell just sent off its own $60 million
endeavour asset to back capacity new businesses and their biggest test is regardless of the
amount Dell announces that it is at this point not simply a PC organization, it's still incredibly
dependent on PCs. Sterne Agee investigator Shaw Wu assesses that 65%-70% of Dell's
business is as yet attached to PCs. (Bort, 2012)

Discussion of different types of entrepreneurial ventures
Entrepreneurs create different types of organizations based on their creative and innovative
idea. It also depends on the capital size, resource availability for creating an entrepreneurial
venture. The details are given below.
Features of Entrepreneurial ventures
Convenient Decision
they probably heard numerous business people mourning over their life decisions or
lamenting their choices. Assuming they notice their expert way intently, they will discover
that they mourn over their failure to perceive an ideal open door.
Numerous business people are most frequently considering negligible or fair endeavours
which are as of now on the lookout. Their choices are regularly blended in with disarray and
anxiety about substantiating themselves in reality. In any case, a business person really must
consider his/her endeavour from the beginning.
Practically every one of the huge names of the innovative business are a real portrayal of
settling on choices that demonstrated their value when tried thoroughly by the trial of life.
Assuming that they are reluctant with regards to the idea of their endeavour or the stakes in
regards to it, then, at that point, they can never come to the end on the grounds that a twofold
disapproved of individual can never achieve more noteworthy statures in a universe of
contest.
Perceiving the Demands is Essential

Today, the corporate area manages the innovative class with no dread. One explanation is its
skill to comprehend the business requests. Allow me to break it for them in basic words. Any
business can become effective in the training assuming it is sought after from the customers'
side.
Doing intelligent statistical surveying can help them a great deal in recognizing the sorts of
requirements commoners bring to the table for them. Just in the wake of observing that, they
need to concoct an answer that appears to be similarly appealing and valuable.
Today, there are a huge number of specialties that fill in as little letters of interest coming
from the clients' side. Today, the reason for business is to make accommodation in the
existence of an individual, so head down that path. Work where they can undoubtedly track
down their heart as per the need of the time.
Develop Endlessly
The most outstanding aspect of an innovative endeavour is its dynamic nature. they are
familiar the examples of overcoming adversity of the main business people who are pacing
quicker than at any other time due to their eternity developing attributes. For any business
visionary, development is more similar to fuel. In the event that they are not developing
something yet are simply remaining there and are indiscriminately following others and their
advancements, they can never pro in the innovative world.
This expects them to emerge from their usual range of familiarity. By safe place, they mean
to say that don't keep themselves down because of the feeling of dread toward not being the
most astute brain however check it out. Whenever they have begun a specific endeavour, the
work ought to be unending.

This implies they ought not stop at the underlying achievement they experience yet ought to
set out additional open doors to benefit themselves later on. Every last opportunity they make
for themself from the all-around existing riches and expertise of their records for their
unmistakable quality as a fruitful business visionary later on race. (Entrepreneurship, 2021)
Examples of Entrepreneurial ventures
Social Entrepreneurship
Social entrepreneurship is the process of recognizing and resourcefully pursuing
opportunities to create social value. Social entrepreneurs are innovative, resourceful, and
results oriented. They draw upon the best thinking in both the business and non-profit worlds
to develop strategies that maximize their social impact. These entrepreneurial leaders operate
in all kinds of organizations: large and small; new and old; religious and secular; non-profit,
for-profit, and hybrid. These organizations comprise the social sector.
A fascinating fact regarding entrepreneurship is that it does not need to be about profit or
capturing market. Some ventures are created to generate social value only, not for money.
They are concerned about how a particular product or service can change the lives of people,
how it can make the world a better place. For example, Muhammad Yunus founded Grameen
Bank in order to give easy access of finance to people who were not eligible due to financial
reasons
Small business entrepreneurship
These type of start-up businesses can only be run by the owners and the number of employees
is very low. Along with this, the revenue generation are not much and these organizations

continuously focusing on getting more clients and development of its products or services.
This type of business can be run with family members and with friends as partner. However,
several small businesses are there that provides innovative products or services and grow
exponentially (drucker, 2014).
Second-hand (Online) Stores
Throughout the most recent couple of years, thrift shops have seen a blast in notoriety. Why
this is isn't thoroughly clear-perhaps due to Mackelmore, perhaps in light of the fact that
recent college grads would rather not pay 75 dollars for some pants however for reasons
unknown, they're blasting.
Making a thrift shop into a triumph takes work, as it normally includes attempting to track
down what's hot and what isn't. Staying aware of famous patterns is critical, as is dealing they
must get the garments first so they can exchange them later.
Obviously, individuals’ lives are altogether web incorporated, and shopping on the web is a
characteristic augmentation of this coordination. Taking their thrift shop online is moderately
minimal expense since most sites can be purchased for inexpensively are not frightfully hard
to set up. (mightycall, 2021)
Another example is Chances are they do not have to go far to find a good example of small
business entrepreneurship. Many local businesses represent a family that decided to put its
hard-earned cash into launching a store to serve the surrounding community. Restaurants are
typical examples, with hard-working families serving delicious meals day in and day out.
Many fail, some succeed, and a few others go on to expand to additional locations. Some
Even create empire

Scalable start-up business entrepreneurship
Scalable start up entrepreneurship can be defined as a business model where an organization
is started on the basis of a unique idea. It involved everything that ranges from creating a plan
to all the way up launching the business. This form of Entrepreneurship involved a great sort
of work, education, and experience.
This type of entrepreneurship commences with a vision that they can make some changes in
the world. Their investment comes from the venture capitalist as well as by employing
efficient employees. Their goal is to find out the repeatable and scalable business model.
Once they find that model, they further started raising funds from venture capitalists for the
growth of the business. A small proportion of all trades are made up of scalable start-ups
because of the risk capital and outsize return. Facebook, Instagram and online shopping for
electronics are the few examples of the scalable start up business.
For example, Mark Zuckerberg has created Facebook for whole world and the major cost was
software development. Now whole world use Facebook unlimited and it does not need
additional costs for the entrepreneur. The price of service or product does not increase but
sales increases day by day which is a great opportunity for entrepreneurs. Such scalable
businesses are significant sources of entrepreneurship in the sense that they are meant to
make profits and were founded through specific planning and organization.
Another example is Uber started as an idea to revolutionize the taxi industry and, after
attracting investment, the company exploded and grabbed massive market share in a very
short time. Critics have since questioned the company’s business practices that did Uber skirt
taxi regulations and pay its “independent contractor” drivers artificially low wages to create
an unsustainable business model in order to grab an early foothold in a growing market, but
no one can argue that the company hasn’t dramatically changed how people get around
Large company entrepreneurship

Huge business is something contrary to independent company business. The term signifies bigger
organizations with a progression of lifecycles from reliable development by making new items and
administrations to meet advancing client needs and requests. These organizations are now settled and
can develop from more modest organizations. All things considered, the distinction lies in that the
authors, or business visionaries, are capable money managers with admittance to capital and assets
that make it conceivable to develop.
AIA is the largest independent publicly listed pan-Asian life insurance group – with a presence in 18
markets across Asia.
For more than a century, AIA has strived to make a significant, positive impact for their customers
and communities across Asia. As they look to the future, this commitment is reinforced by their
Purpose: to help millions of people live Healthier, Longer, Better Lives. Their Purpose guides the
decisions we make and the actions they take as an organization - empowering and enabling people to
understand and manage their health, while meeting their long-term savings and protection needs. they
believe that helping to create a healthier Asia is one of the most important and valuable things we can
do for our communities, today and in the future.
Another example is after Disney being partners for years, Disney finally purchased animation
studio Pixar in 2006. Rather than create its own studio to compete with Pixar, Disney decided
it would simply buy the up-and-coming studio behind Toy Story and other hit movies. It has
proven to be quite the lucrative arrangement for Disney, which has cashed in on other
blockbuster successes from Pixar since the acquisition, including WALL-E, Coco, Up.
Investigate A Diverse Range of Entrepreneurial Ventures to
Demonstrate an Understanding of Entrepreneurship in Both the Public
and Corporate Sector.

The range of entrepreneurial ventures is various in their kind and type and these would
depend on the purpose of the business, the investment is done on the business and also on the
purpose for which that venture is running. If divide these on the basis of public and corporate
sectors, they can conclude that they are mainly the business entrepreneurship and the social
entrepreneurship. Both these are involved in the production of the services and products &
also expand for profits by selling them in the market. Both these produce the products and
services as per the desires and the requirements of their target market.
But the social entrepreneurs are more devoted and focused on the development and the
improvisation of the local community rather than creating the riches for their own benefit and
development.
Social Entrepreneurship
Fortification Roy
The Indian social dissident and business visionary Sanjit "Fortification" Roy has helped large
number of individuals in Asia and Africa to master crucial specialized abilities and carry sun-
oriented capacity to a few far-off towns. He established the Barefoot College, an association
which spends significant time in showing ignorant ladies from unfortunate networks on the
most proficient method to become specialists, designers and engineers. What's more amazing
is that every one of the school grounds are sun oriented controlled and frequently constructed
and planned by previous understudies. IN establishing the school, his objective wasn't to
create a gain for himself yet to assist with working on the monetary creation and personal
satisfaction of ladies all through his local India. A few parts of the task have spread to Africa
too. With ladies driving and running the majority of the Barefoot College's activities,
obviously he's been really effective in accomplishing that objective.
Small business entrepreneurship

Many local businesses represent a family that decided to put its hard-earned cash into
launching a store to serve the surrounding community. Restaurants are typical examples, with
hard-working families serving delicious meals day in and day out. Many fail, some succeed,
and a few others go on to expand to additional locations. Some even create regional empires.
Lage company
Vitol positions number 1 on our rundown of the main 10 biggest privately owned businesses
on the planet in 2020 by income, created USD 231 billion. Vitol is a Dutch energy and
product exchanging organization that was established in Rotterdam in 1966 by Henk Viëtor
and Jacques Detiger. Vitol is characterized by their refining, transporting, terminals,
investigation and creation, power age, and retail organizations. Furthermore, Vitol is likewise
engaged with actual exchanging, operations, and dissemination. Vitol has 40 workplaces
worldwide and its biggest tasks are in Geneva, Houston, London, and Singapore. Vitol is an
innovator in the energy area with a presence across the range; from oil through to drive,
renewables, and carbon. It exchanges 8 million barrels each day of raw petroleum and items
and, whenever, has 250 boats moving its cargoes. Vitol's clients incorporate public oil
organizations, multinationals, driving modern organizations, and utilities. Vitol's strengths are
in Energy and items organization, delivering and sanctioning, strategies and circulation,
terminals and capacity, investigation and creation, power age, and mining and retail
organizations. (bizvibe, 2020)
Scalable start-up entrepreneurship
Luxify is Hong Kong’s first local online marketplace for buying and selling new, vintage, and
pre-owned luxury goods, and connects buyers to dealers, collectors, and sellers.

The platform has 8 categories of items, and makes it easier for smaller luxury operations to
compete and reach buyers. Luxify is not involved in transactions, and does not take a
commission of sales, and it’s free to list and sell.
The start-up received initial angel investment of $200K.
The scope, development and growth of entrepreneurial ventures
The complete set of the scope, growth & development of entrepreneurial ventures are
explicated and elaborated below:
Scope, development and growth of any entrepreneur venture cannot be always flexible and
also in a good shape because there are several factors that effects the organization directly.
Since the global pandemic started, most of the local and state government has implemented
strict restrictions on travelling and conducting most of the business activities due to
lockdown. Nevertheless, social, small and e-prenuer ventures can still be practicable during
the pandemic situation because the nature of these organizations which are greatly helpful for
public and have lesser investments in their company. Even though during the pandemic the
venture which can develop and grow the most is e-pruner or widely known as e-commerce
due to their variety and flexibility in business nature. Commerce companies can develop their
strategies and try selling the goods which have very good demand in market due to crisis
situation.

Small Business Entrepreneurship - this type of a venture may include a small-scale start-up
that involves very less investment as compared to the large scale and forms of the ventures.
The scope of the venture could be widened if apt leadership and entrepreneurial aspects are
combined in order to hold the market and to expand in the market with a new innovative
product that would fulfil the needs and the requirements of the market.
BONITA scope, development and growth
Nailah wants everyone who walks in the door to feel welcomed and everyone who leaves to
feel fantastic. With an enhanced bohemian design and plenty of areas for fantastic selfies,
BONITA offers a comfy, laid-back, and humorous attitude. Experience, time, difficulty, and
a guarantee of amazing outcomes determine the price. Hair, cosmetics, and a variety of other
treatments are available to both men and women at BONITA. BONITA also includes a
women's only room to help everyone feel at ease in our environment, and we recognize and
appreciate the privacy requests that some of our clients have. A magnificent dedicated area
for private parties, gatherings, and wedding hair/makeup preparations is also available at the
salon.
The future goal of Bonita hair salon is to provide outstanding service to everyone "Nailah
expresses her thoughts. "She wants a welcoming atmosphere, and she wants people to stop by
even if they don't have an appointment to say hello. Even though they have not stated
anything about their scope growth and development, we can clearly see their growth and
development because they went from nothing to a well-known hair salon, which is incredible
growth and development, and they have not stated anything about their scope yet.
Scope
The small-scale business gives good scope for the growth of entrepreneurial activities. An
entrepreneur has excellent opportunities and great scope in selling services rather than

producing a product. The entrepreneur can get better results if the size of the small business is
small and limited. For this reason, that small enterprises have higher productivity, greater
performance, and low labour turnover.
The growth and development
There are five stages of growth which are existence, survival, success, take-off and resource
maturity
Stage 1: Existence
In this stage the principal issues of the business are acquiring clients and conveying the item
or administration contracted for.
The association is a basic one-the proprietor does everything and straightforwardly manages
subordinates, who ought to be of at minimum normal skill. Frameworks and formal arranging
are insignificant to non-existent.
At times, the proprietors can't acknowledge the requests the business puts on their time,
funds, and energy, and they quit. Those organizations that stay in business become Stage II
ventures.
Stage 2: Survival
In arriving at this stage, the business has exhibited that it is a serviceable business substance.
It has an adequate number of clients and fulfils them adequately with its items or

administrations to keep them. The key issue consequently moves from simple presence to the
connection among incomes and costs. The fundamental issues are as per the following:
The association is as yet straightforward. The organization might have a set number of
representatives regulated by a team lead or an overall foreman. Neither of them settles on
significant choices autonomously, however rather does the fairly distinct orders of the
proprietor.
Framework’s improvement is insignificant. Formal arranging is, best case scenario, cash
gauging. The significant objective is still endurance, and the proprietor is as yet inseparable
from the business.
Stage 3: Success
The choice confronting proprietors at this stage is whether to take advantage of the
organization's achievements and grow or stay with the steady and productive, giving a base to
elective proprietor exercises. Along these lines, a main point of contention is whether to
involve the organization as a stage for development a substage III-G organization or for of
help for the proprietors as they totally or somewhat withdraw from the organization .
Stage 4: Take-off
In this stage the key issues are the means by which to develop quickly and how to back that
development.
The association is decentralized and, essentially partially, divisional zed-ordinarily in either
deals or creation. The key directors should be exceptionally capable to deal with a developing
and complex business climate. The frameworks, stressed by development, are turning out to
be more refined and broader. Both functional and vital arranging are being done and include

explicit supervisors. The proprietor and the business have become sensibly isolated, yet the
organization is as yet overwhelmed by both the proprietor's presence and stock control.
Stage 5: Resource Maturity
The best worries of an organization entering this stage are, first, to merge and control the
monetary profits welcomed on by fast development and, second, to hold the upsides of little
size, including adaptability of reaction and the innovative soul. The organization should
extend the administration power quick to the point of wiping out the failures that
development can create and professionalize the organization by utilization of such
instruments as financial plans, vital preparation, the board by goals, and standard expense
frameworks and do this without smothering its pioneering characteristics. An organization in
Stage V has the staff and monetary assets to participate in definite functional and vital
preparation. The administration is decentralized, satisfactorily staffed, and experienced.
What's more frameworks are broad and all around created. The proprietor and the business
are very isolated, both monetarily and functionally.
The organization has now shown up. It enjoys the benefits of size, monetary assets, and
administrative ability. Assuming it can safeguard its enterprising soul, it will be a
considerable power on the lookout. If not, it might enter a 6th phase of sorts: hardening.
(Lewis, 1983)
Scalable Start-up Entrepreneurship - this kind of the venture would require the business to
have fixed vision and a set of strategic plans that would attract the venture capitalists to invest
in the business and this would help businesses to expand. The scope in this form is already
very wide and if the strategies are appropriately planned and executed then this could be
turned into a huge success.
Starbuck scope, development and growth

Starbucks Corporation (also known as Starbucks Coffee Company) expands its global
operations using a traditional strategy that emphasizes the uniqueness of its products. This
nonexclusive cutthroat method, according to Michael Porter's approach, is centered on
distancing the espresso business from competitors. However, Starbucks' process for
development and extension is influenced by a blend of concentrated development
methodologies. These systems for serious development are directly associated with the
organization's nonexclusive strategy for competitive positioning in the café industry,
according to Igor Ansoff's market extension grid. Starbucks' advantage in firm execution and
expected achievement should be supplemented by concentrated development methods that
align with the nonexclusive methodology. In this investigation instance, such an arrangement
can be seen in the organization's focus on invading marketplaces with its specially prepared
espresso goods, while also selling these items to customers in various market segments.
Starbucks Coffee's advantage and business execution in an obviously harsh global industry is
bolstered by the combination of its traditional approach and accelerated development
technologies.
Scope
When starting a business, it is important to understand its scope of operation to write a proper
business plan. For the sake of profits, most businesses engage in activities or focus on
products and services that maximize their income. For example, a company that sells parts for
appliances but does not offer servicing since doing both might spread its workforce too thin
or negatively affect its profit margin. On the other hand, a business might decide to expand its
scope to include services or products when it identifies a demand for such.
Growth
A scalable start-up is one that begins with a lucrative and innovative idea and adopts a
profitable business model that can grow quickly into a hugely profitable company. This
includes entering a large market and creating a niche for the company’s products. They then
pose significant competition to the incumbent businesses in the same industry and locality.

The start-ups can grow rapidly into huge, scalable, and profitable businesses despite their
limited resources. Innovative start-ups aim at not only creating a product for the industry but
also creating their industry for others to introduce products into.
Scalable start-ups can be seen from a mile away from the perspective of an experienced
business in the same industry. The start-ups can receive multiple offers for buy-out due to
their uniqueness. They aim to achieve growth beyond the industry and competition from
incumbents. They may seek assistance from banks or traditional financing for resources just
like any other business.
Development
A start up is a company founded by an entrepreneur (or a group of them) to meet market
demand (sometimes hypothetical) with the help of a product or services they provide under
uncertain and volatile conditions. As a rule, such companies are funded by founders, their
families and other investors at different stages of start-up development.
1.Idea Stage
Each innovative undertaking begins with a thought. Regardless of how you concoct it during
a talk with their companions or associates, or they were simply hit upon all of a sudden it is a
foundation of each business. However, tragically, only one out of every odd excellent plan is
neither new nor creative.
To abstain from committing an error by sending off an item or administration that no one
requirements or needs, they ensure that their "million dollar" thought can without a doubt
have an effect. Lead exhaustive examination to check whether their thought is new and can
carry genuine worth to try not to make one more copycat or unremarkable item or
administration.

At the thought stage they are probably going to involve their own means as they are their own
financial backer here. By bootstrapping and with practically no outer assistance, they can
support your organization and make a strategy, or which is better, to utilize a Business Model
Canvas. It will assist with drawing a reasonable image of who their clients are, what their
extraordinary suggestion is, characterize their expense structure, income streams, and
numerous other fundamental things.
2. Loved ones, and Angels Stage
Thinking of a beneficial thought and supporting it with their assets is just a start. they need to
extend their business and for this, they will require more cash as their sources are as of now
evaporating. This is the point at which the Friends and Family, and furthermore the Angels
stage comes to the guide of their start-up.
Typically, there are a few similarly solid ways from where they can draw in greater venture
through their loved ones and private supporters.
Loved ones is a venture round when the author's friends and relatives give assets to the start-
up. When in doubt, these individuals are those, whom the authors as of now have long-
standing and solid connections. All the while with the Friends and Family round, they can
request that private supporters reserve their business. They are a piece unique in relation to
their loved ones.
Private backers or basically heavenly messengers (or otherwise called private financial
backers) are well-off people or a gathering of them, who have more than $1 million in real
money (or resources) and can put resources into new businesses in return for the
organization's value. They may be previous business people who need to put their cash in a
promising endeavour.

Generally speaking, the Friends and Family, and Angels is an underlying stage when the
organizer needs to put up their item for sale to the public yet needs outside help. With a
strategy set up and new monetary help, they can now chip away at an interactive model of
their item. It very well may be an exhibit video (similar to the case with Dropbox), or
something more intelligent that can furnish their client with a thought of what their item will
be and the way in which individuals can profit from it.
3. Pre-seed Start-up Stage
The pre seed start up is a stage when the business person requires extra assets to help their
start up. For example, it's exceptionally vital to direct market approval. Starting here of view,
they need to construct a base suitable item otherwise called MVP which is a demonstrated
device to approve a thought.
MVP is a portrayal of your item with the essential highlights to fulfill early adopters.
Least practical item gives they a general comprehension of where their startup is going and
what should be changed or added at this moment and what turns out only great as far as their
item. they can change it to a great extent, to turn or to drop the thought for great. Regardless
the result, the pre-seed start up stage helps answer a great deal of significant inquiries.
4. Seed Start-up Stage
The name of the stage justifies itself with real evidence. they can envision a start up to be a
seed, which was planted to turn into a blooming tree. This stage recommends that they have
approved their thought. their item is as of now creating income consistently and their start-

up’s getting new clients. Be that as it may, to become quicker, become greater, and secure
their situation on the lookout, they should go for the Seed Stage.
Seed stage new companies float towards trading companies rather than individual financial
backers. Also, entrepreneurs can draw in speculations with the assistance of these
organizations. For instance, VCs (or Venture Capitalists) can energetically give cash to new
businesses. Additionally, they can furnish them with significant experience, HR, office space,
and even aide them through the following advancement phases of a start-up.
5. Beginning phase Start-up
Beginning phase new businesses are organizations that have effectively sorted out what sort
of plan of action works for them. They produce anticipated income, have clients, draw in new
ones, however they need to scale to fulfil an expanding market interest. At this stage, they
can start subsidizing round series.
Beginning phase start up stage incorporates Series A, Series B, and other series. They fill in
as significant achievements for new companies while heading to a general achievement.
During this stage, to draw in reserves, they need to give financial backers evidence that their
startup has as of now had a consistent progression of income, clients, and a solid business
procedure set up.
During financing series, beginning phase new companies can depend on the significant
assistance of financial backers to arrive at new statures, fulfil market interest, or even
overcome new business sectors.
6. Development Stage

At the development stage, organizations lounge in the greatness of their prosperity. Business
visionaries have a few new choices of how to get the following asset - financial backers, bank
advances. Banks give a few decent benefits, for example, they can credit them cash with low
loan costs, and they don't need their organizations value consequently. (Galadzhii, 2020)
Large Company Entrepreneurship-In this form of a venture, the investment made is very
high and also the responsibilities and the accountabilities that come along are large in number
and size. The company has to constantly innovate the products & the set of the services that it
offers in order to satisfy the market desire and requirements and to expand & enlarge in the
market at good pace.
Amtrak scope, growth and development
Amtrak has a long and illustrious history as America's Railroad, having first departed from
the station on May 1, 1971. The Congressional Rail Passenger Service Act, which combined
the United States' current 20 passenger railways into one, provided the foundation for
Amtrak. That was also the case when we were serving 43 states with a total of 21 courses.
They now handle not just standard highway traveller rail in 46 states, but also fast trains
along our busiest route, the Northeast Corridor, which runs from Washington, D.C., to
Boston. Amtrak has grown to 33 routes across America, with over 500 objections across a
21,000-mile framework, as a result of clients from all over the world, demonstrating their
huge growth and development.
Indeed, they were designed to transport you from point A to point B safely and promptly
even back in 1971. During the 1970s, they sought 492 single-level Amfleet I trucks with
rounded hulls and furrowed hardened steel fluting from railroad buffs. They could reach
speeds of up to 125 miles per hour. The Amfleet was based on the Metroliner, another well-
known train vehicle that ran between Washington and New York. They have a specially
modified appearance to try to replicate the plan of an airplane in order to entice would-be
fliers to ride trains instead of flying. Despite the fact that Amtrak has not given any indication
of their breadth, they have stated their goal. The goal of Amtrak is to provide efficient and

effective intercity passenger rail mobility with modern trains that provide courteous, high-
quality service that is trip-time competitive with other intercity travel options, while putting
safety first.
Scope
Any business, corporation or organisation that has been set up with the primary purpose of
generating profits can be described as a for profit organisation. These organisations usually
operate in the private sector, which means that they are owned by individuals or group
entities and not by the state or government and are referred to as businesses. However, this
does not mean that these organisations are not regulated by the state. They are subject to the
legal and financial framework set out by relevant state authorities. The revenue generated by
these organisations is usually reinvested into the business to ensure its sustenance and the
remaining profits are distributed amongst the business investors and/or shareholders,
depending upon the legal structure of the organisation. Their operations can be based in
multiple sectors including fashion, technology, food and retail.
Growth
The world’s largest companies are all in technology, and four out of five of those “Big Tech”
companies have grown to trillion-dollar market capitalizations.
Despite their similarities, each of the five technology companies (Amazon, Apple, Facebook,
Microsoft, and Alphabet) have very different cashflow breakdowns and growth trajectories.

Some have a diversified mix of applications and cloud services, products, and data
accumulation, while others have a more singular focus.
But through growth in almost all segments, Big Tech has eclipsed Big Oil and other major
industry groups to comprise the most valuable publicly-traded companies in the world. By
continuing to grow, these companies have strengthened the financial position of their
billionaire founders and led the tech-heavy NASDAQ to new record highs.
Unfortunately, with growth comes difficulty. Data-use, diversity, and treatment of workers
have all become hot-button issues on a global scale, putting Big Tech on the defensive with
advertisers and governments alike.
Still, even this hasn’t stopped the tech giants from (almost) all posting massive revenue
growth.
Revenues for Big Tech Keep Increasing
Across the board, greater technological adoption is the biggest driver of increased revenues.
Amazon earned the most in total revenue compared with last year’s figures, with leaps in
almost all of the company’s operations. Revenue from online sales and third-party seller
services increased by almost $30 billion, while Amazon Web Services and Amazon Prime
saw increased revenues of $15 billion combined.
The only chunk of the Amazon pie that didn’t increase were physical store sales, which have
stagnated after previously being the fastest growing segment.
Services and ads drove increased revenues for the rest of Big Tech as well. Alphabet’s ad
revenue from Google properties and networks increased by $20 billion. Meanwhile, Google
Cloud has seen continued adoption and grown into its own $8.9 billion segment.

For Microsoft, growth in cloud computing and services led to stronger revenue in almost all
segments. Most interestingly, growth for Azure services outpaced that of Office and
Windows to become the company’s largest share of revenue.
And greater adoption of services and ad integration were a big boost for ad-driven Facebook.
Largely due to continued increases in average revenue per user, Facebook generated an
additional $20 billion in revenue.
Development
huge organization improvement can be characterized as the thought, drives, and activities that
helps an organization develop. this incorporates helping income, extending firm, improving
productivity through procedures organization and settling on essential business choices.
corporate advancement chief, trough of business improvement and VP, business advancement
are largely great work title that are as often as possible experienced in business settings,
deals, vital drives, business connections, market advancement, business extension, and
advertising are on the whole parts of business advancement, yet they are once in a while
befuddled and wrongly considered as the essential job of business advancement.
Social Entrepreneurship - In this kind of entrepreneurial ventures, the roles and the
responsibilities that come along are very large in number as it is done for the good of the
society and for the welfare of the humankind. So, the moral values and the ethical conducts
are to be considered appropriate for the required level of success.
Farmfresh330 scope, growth and development
Farmfresh330 has been named a Consumer Caring Company by GS1 Hong Kong for the
second year in a row. The award ceremony took place at the Hong Kong Convention and
Exhibition Centre on June 10, 2021. The Consumer Caring Scheme aims to recognize local
businesses who place a high priority on customer service throughout their operations. They
are committed to the notion of "Client for Life" by always improving products, services, and
procedures in order to exceed customer expectations and foster customer loyalty. From being

a regular social enterprise to receiving back-to-back awards for being a consumer caring
competition, we can see farm fresh 330's amazing growth and development. For the scope
they have not told anything but for their goal they said that their goals are to make sure that
they provide the best service for the costumers.
Scope
The social entrepreneurship research arena is hindered by the many terms and definitions
adopted by researchers and policy-makers. Social enterprises have been varyingly described
as a private enterprise conducted in the public interest, a for-profit social venture, and a social
purpose enterprise. Further, social enterprises adopt differing legal formats and abide by
different legal frameworks and fiscal responsibilities and duties in different countries. These
factors make national and international comparisons of social enterprise activity unreliable at
present. Although universally acceptable definitions of social entrepreneurship, social
enterprise and social entrepreneur do not exist, there appears to be a converging consensus on
the meaning of social enterprise, and from this it is possible to draw out a definition of a
social entrepreneur and social entrepreneurship.
Growth
Social entrepreneurship is applying practical, innovative, and sustainable approaches to
benefit society. Its main emphasis is to uplift standard marginalized and poor people in
society. The areas of social entrepreneurship are education, health, welfare reform, human
rights, workers' rights, environment, economic development, agriculture, etc. Social
entrepreneurship may be non-profit or for-profit entities. The concept of social

entrepreneurship is growing rapidly and attracting the increased attention of people. Social
entrepreneurs come up with brilliant ideas for creating new products and services that
dramatically improve people's lives. Social entrepreneurs are society's change agents, creators
of innovations. They always challenge the status quo and transform the world. They empower
people to extend their reach, deepen their impact and fundamentally improve society. Most
entrepreneurs see opportunity and believe. However, social entrepreneurs first believe and
later search for opportunities. The Nobel Peace Prize winner Muhammad Yunus who
established Grameen Bank in Bangladesh is regarded as the pioneer of social entrepreneurs.
Development
Particularly since Muhammad Yunus, originator of the Grameen Bank and a prestigious
illustration of a social endeavour, won the Nobel Peace Price in 2006 there is expanding
revenue in friendly business for advancement. The social business person area is
progressively significant for financial (and social) improvement since it makes social and
monetary qualities:
1. Business Development
The primary major financial worth that social business makes is the clearest one since it is
imparted to business visionaries and organizations the same: work and business creation.
Gauges goes from one to seven percent of individuals utilized in the social business venture
area. Besides, social ventures give work potential open doors and occupation preparing to
portions of society at a business hindrance (long haul jobless, debilitated, destitute, in danger
youth and orientation separated ladies). On account of Grameen the monetary circumstance
of 6,000,000 distraught ladies miniature business people were gotten to the next level.
2. Advancement/New Goods and Services

Social ventures create and apply advancement critical to social and monetary turn of events
and foster new labour and products. Issues tended to incorporate the absolute greatest cultural
issues, for example, HIV, mental weakness, lack of education, wrongdoing and chronic drug
use which, critically, are defied in imaginative ways. A model appearance that these new
methodologies at times are adaptable to the public area is the Brazilian social business
visionary Veronica Khosa, who fostered a locally established consideration model for AIDS
patients which later changed government wellbeing strategy.
3. Social Capital
Close to financial capital quite possibly the main worth made by friendly business venture is
social capital (normally comprehended as the assets which are connected to ownership of a
tough organization of connections of shared colleague and acknowledgment). Models are the
accomplishment of the German and Japanese economies, which have their foundations in
long haul connections and the morals of participation, in both fundamental advancement and
modern turn of events. The World Bank likewise sees social capital as basic for neediness
easing and supportable human and monetary turn of events. Interests in friendly capital can
begin a high-minded cycle.
Explanation of how these relate to the typology of
entrepreneurship
1.Small business entrepreneurship
This venture includes those people who build, establish and run their own business. Such
entrepreneurs run a business on a smaller scale with low capital investment and other
resources. An example includes retailers, grocery stores, dressers and many more.

This venture relates to an entrepreneurial typology called Solo self-employed entrepreneurs.
According to this typology which was proposed by an author named Vesper, entrepreneurs
are engaged in an independent business build on their own. And who is not in any kind of
employment with other organizations.
A majority of businesses are small businesses. People interested in small business
entrepreneurship are most likely to make a profit that supports their family and a modest
lifestyle. They aren't seeking large-scale profits or venture capital funding. Small business
entrepreneurship is often when a person owns and runs their own business. They typically
hire local employees and family members. Local grocery stores, hairdressers, small
boutiques, consultants and plumbers are a part of this category of entrepreneurship.
2. Scalable start-up entrepreneurship
This is a type of venture that requires innovation and creative ideas to establish a business
model to attract venture capitalists and other biggest investors. Such start-ups enter into the
well-established market and grab new opportunities to grow rapidly.
This venture relates to an entrepreneurial typology called craftsman entrepreneur. According
to this typology which was proposed by Author Smith in 1967, the entrepreneur considers
works as a craft. Such a person creates something unique and thinks out of the box to
establish something not only big and huge but different from anything. So Scalable start-up
entrepreneurship is related to this typology in which the idea is to bring something unique in
the marketplace.
This kind of entrepreneurship is when entrepreneurs believe that their company can change
the world. They often receive funding from venture capitalists and hire specialized
employees. Scalable start-ups look for things that are missing in the market and create
solutions for them. Many of these types of businesses start in Silicon Valley and are

technology-focused. They seek rapid expansion and big profit returns. Examples of scalable
start-ups are Facebook, Instagram and Uber.
3. Large company entrepreneurship
These companies focus on capturing the large market by introducing the best technologies
and produce goods according to the customers' tastes and preferences. When there is any
change or fluctuation happen in the market or governmental structure of a particular nation,
these big organizations need to redesign or launch a completely new product in the market.
This venture relates to an entrepreneurial typology called opportunist entrepreneurs.
According to this typology which was proposed by Author Smith in 1967, the entrepreneur
wants to grab the opportunity which is favourable for the business as soon as possible. This is
done concerning the changing environment and market conditions so that more profits can be
earned. Such a person makes strategies according to the dynamic environment and captures
every possible opportunity to gain a first-mover advantage.
Large company entrepreneurship is when a company has a finite amount of life cycles. This
type of entrepreneurship is for an advanced professional who knows how to sustain
innovation. They are often a part of a large team of C-level executives. Large companies
often create new services and products based on consumer preferences to meet market
demand. Small business entrepreneurship can turn into large company entrepreneurship when
the company rapidly grows. This can also happen when a large company acquires them.
Companies such as Microsoft, Google and Disney are examples of this kind of
entrepreneurship.
4.Social entrepreneurship

These ventures are established with a sole purpose of solving the problem of society or to
serve them in the best possible way. The purpose is not to earn a profit or fill the reserves
with monies but to build trust among society by serving them.
venture relates to entrepreneurial typologies called Social Bricoleurs, Social constructionists,
and social engineers. Social Bricoleurs know entering into a situation and find the solution to
the problem with the limited resources available. Social constructionists do believe that the
trend in society related to gender, class, and race is socially framed by the people but not is
reality. They construct knowledge in society with human interaction. Social engineers plan
and implement the strategies to bring a change in society. Hence all these three typologies are
related to social entrepreneurship.
An entrepreneur who wants to solve social problems with their products and services is in
this category of entrepreneurship. Their main goal is to make the world a better place. They
don't work to make big profits or wealth. Instead, these kinds of entrepreneurs tend to start
non-profits or companies that dedicate themselves to working toward social good
The most significant difference between a socialpreneur and an entrepreneur is the end goal.
The former is less interested in defining their successes through high profit margins, but
instead by how their operations benefit communities of interest.
In addition, some social enterprises may not follow the typical organizational structure —
they can be run entirely by volunteers who do not receive a pay check or individual
contributors that participate on their own accord. For example, mutual aid funds are
community organized. These funds exist to meet a social need and began from an
entrepreneurial idea, but are run by community members that participate as they please.
While social entrepreneurship is typically a standalone venture, entrepreneurs can start for-
profit businesses that fund programs to support social issues. Let’s go over some real-life
examples of small business social entrepreneurship, as well as larger enterprise businesses
that engage in social ventures.

The Difference between serial entrepreneurs, intrapreneurs and owner-
mangers
ENTREPRENEU
R
INTRAPRENEUR Manager
Meaning Refers to a
person who set up
his own
b u s i n e s s
w i t h a new idea
or concept.
Refers to an
employee o f t h e
o r g a n i z a t i o n
wh o i s i n
c h a r g e o f
undertaking
innovations in
p r o d u c t ,
s e r v i c e , process
etc.
Refers to a
m a n a g e r
w h o i s
preoccupied in
making sales
target, budget,
profitability
etc.
capital Raised by him Financed by the
company
Company’s
capital
Risk Taken by the
entrepreneur
Taken by the
company
Risk averse
resources Own resources Use resources
p r o v i d e d b y
t h e company.
Company’s
resources
Approach Intuitive Restorative calculative
Enterprise Newly
established
An existing one On-going
operation

Entrepreneur: As an example, Bill Gates is a famous entrepreneur in Pc software company
earnings over $79 billion, showing a interest in computer programming at the very young
age.
Another example of entrepreneurship is Wal-Mart, founded by Sam Walton who started a
small discount store back in 1962. This store has now become the headquarter of the second
largest company in the world that makes about $345 billion in net sales and hires more than
1.8 million employees in 6 700 stores around the world.
Intrapreneur: Apple one of the most known firms in the world co-founded by Steve Jobs in
1976 in his parents' garage and who is now considered as one of America's great innovators
that changed the world of music, computing, phones and retail stores reached this huge
success due to his leadership skills and his innovative mind, unlike a manager who is
considered only a copy and a follower of the managerial techniques, a leader is an original
that innovates, develops ideas and inspire others.
Manager: A success story of management is a company that receives about one million CVs
per year Google, the levels of motivation and creativity are high due the unique work
environment. At Google the hierarchical structure is flat with less management and more
employee empowerment to make their decisions which made them more responsible, this
structure also creates an open environment that encourages employees to be more
collaborative, moreover the company provides employees access to a variety of facilities such
as, quality free food, gym, and even video games.
Explore the similarities and dissimilarities between
entrepreneurial ventures.
Differences and similarities between different entrepreneurial ventures are following:

Factors Small business
entrepreneurship
Scalable start-up
entrepreneurshi
p
Large company
entrepreneurship
Social
entrepreneurship
Goals
and
objectives
These
organizations
might not have
structured goals
and objects and
works on
achieving lesser
profitability and
growth.
These business
aims to provide
innovative
products
constantly and
achieve high
profitability for
investors
(Kirzner, 2015).
These
organizations
aim to sustain in
the market by
developing new
products or
services and
marketing
strategies.
These
organisations
aim to provide
quality products
or services to
make the world
a better place.
Risks The risks might
be lower but
competition is
high with same
sized
organisations
The risks are
high due to high
amount of
financial
investment and
pressure to
return high
amount to the
investors by
achieving high
sales volume.
The risks are
medium because
large businesses
often manage to
sell high volume
due to their
brand value.
The risks are not
much high
because, these
businesses often
get support from
government and
public due to
their vision.
Employee
Number
Employees are
not more than
50.
Depends on
structure and
size.
Employees can
be more than
1000.
Depends on the
size of the
business.
Structure No proper
organisational
structure and
often run with
sole
proprietorship
are in
partnership
Mainly
corporations or
limited
partnerships.
The
organizational
structure is often
complex and can
be public limited
or private
limited company
(Dees, 2017)
Mainly trustee-
based
organisations.

Explain the role and the Characteristic of micro, small and
medium-sized Economy
MSMEs account for a large share of added value in international trade when indirect linkages are
taken into account. Overall, MSMEs tend to be under-represented in international trade.
Across OECD and non-OECD Members, few MSMEs export directly and for those that do,
exports typically represent a lower share of trade turnover (relative to larger firms). However,
when considering MSMEs’ indirect contribution to exports, as suppliers to larger domestic
firms or multinational companies that export, MSMEs in OECD countries can represent more
than half of total exports in value added terms. The quality and responsiveness of MSMEs
that supply goods and services to multinational companies that export play a key role in the
competitiveness of entire supply chains, at both local and global levels. Harnessing this
interdependency between MSMEs and larger businesses and coordination between the entities can
therefore contribute to promotion of trade and competitive supply chains.
MSMEs are a source of partnership to implement SDGs. Small businesses address societal
needs through market solutions as demonstrated by social enterprises. MSMEs also play a role
in public-private partnerships (PPP) to provide services to address various developmental
challenges. They can participate in dialogues with governments and communities to find
solutions to development problems as they work closely with communities. They can
contribute to society through Corporate Social Responsibility (CSR) practices.
MSMEs are a source of data for SDG monitoring and reporting. The former Secretary-
General of the United Nations Ban Ki-moon called for a ‘data revolution’ for the SDGs. This
refers to the “integration of new data with traditional data to produce high-quality information
that is more detailed, timely and relevant for many purposes and users, especially to foster and
monitor sustainable development”, which encourages governments to engage with private-sector
actors who generate large amounts of data through their work. MSMEs which are present in a
range of value chains and employ a large share of the population have potentials for
generating data that can assist in monitoring the SDGs.

Individual MSMEs have the potential to adopt actions in their business practice to contribute to
the goal. They can take a collaborative initiative and seek a local charity that the organisation
is close to and have a conversation on how the business can support their work. They could also
partake in SDG-related partnerships like the UN's Make the Global Goals Local campaign, the
SDG reporting initiative and locally-based sustainability initiative.
Since its arrangement, the MSME portion has demonstrated to be a profoundly unique Indian
economy area. MSMEs produce and assembling an assortment of items for both homegrown
as well as worldwide business sectors. They have advanced the development and
improvement of khadi, town, and coir ventures. They have teamed up and worked with the
concerned services, state legislatures, and partners towards the childhood of country regions.
MSMEs play had a fundamental influence in giving business valuable open doors in
provincial regions. They have helped in the industrialization of these region with a low
capital expense contrasted with the enormous enterprises. Going about as an integral unit to
huge areas, the MSME area has tremendously added to its financial turn of events.
MSMEs likewise contribute and assume a fundamental part in the country's advancement in
various regions like the necessity of low venture, adaptability in tasks, portability through the
areas, low pace of imports, and a high commitment to homegrown creation.
With the ability and ability to foster fitting nearby innovation, give wild rivalry in
homegrown and worldwide business sectors, innovation adroit ventures, a commitment
towards making protection materials, and creating new business visionaries by giving
information, preparing, and expertise up-degree through specific instructional hubs.
(lendingkart, 2021)

the survey conducted by ADB finds various ownership structures for the Afghan
establishments. The preponderance of MSMEs (83%) is proprietorships. Other structures
include government or public sector establishments (11%), partnerships (4%), and two
percent are limited companies, cooperatives or trusts. The second characteristic from the
survey report reveals that 50% of the total establishments (402,044) have been in operation
for four years or less. Nearly 42% of establishments have been in operation for 5 to 20 years,
and only 5.6% of firms have been operational for more than 20 years.
Another dimension to characterize Afghan MSMEs is the location and operational presence
of them. Given the MSMEs’ limited geographical boundaries, the small firms covering
almost all the surveyed establishments operate within Afghanistan. Yet, no large Afghan firm
has operated beyond the country borders (Asian Development Bank, 2009). A key reason that
Afghan firms are not operating around the world is the lack of access to information and
worldwide standardization. Although a strategy to address these challenges had been
streamlined by the government, the firms are still suffering from lack of access to the world
market. fourth characteristic of MSMEs is the absence of modern technology and machinery.
small businesses are majorly labour-intensive (Afghanistan Ministry of Economy , 2012).
It is said that labour-intensive enterprises are beneficial for the country’s employment, but it
fails to increase productivity and promote new and diversified products. Demonstrates that
comparative studies of large and small business prove that small firms “employ more labour
per unit of capital and require less capital per unit of output than do large ones.” This
statement clearly indicates that a firm labour-intensive and the owners are willing to
minimize their capital investment and employ more labour per unit of output. Further said
that many people in poorer countries buy themselves a job, and the owner of small firms
purchase as many commodities as he wants, namely employment, for the minimum
expenditure, or capital investment.
The minimum expenditure to buy employment does not mean that labourer’s will maximize
their returns, instead that owners will raise profits. The fifth characteristic is that not all
Afghan MSMEs operate under a formal economy. Nearly 80% of businesses in the country

operate informally, meaning they operate under the shadow economy. While the shadow
economy provides job opportunities for Afghans and is a move to reduce poverty, it prevents
the country from direct or indirect taxation and reduces the country’s revenue. (Acs, 1998)
says that the underground economy in Europe (unofficial economy) played a key role in the
transition of the economic system from Communism to a market economy in the 1970s. This
economy strengthened the market economy and generated employment and income for
people working under the umbrella of that economy.
Moreover, it had a significant contribution to the “saturation of the consumer market with
commodities and in-kind services, reducing the pressure on consumer prices levels,”
(Glinkina, 1998). The operation of this economy was very significant at the beginning of the
transition period, and that gradually diminished as normal official economy came to expand
and overcome the underground economy. While the informal economy had some positive
roles in the post-Communist era such as providing jobs, it severely affected the health of the
good economy.
(Acs, 1998) indicates that the underground economy undermined macroeconomic stability and
promoted a general atmosphere of hidden economic transactions, paving the way for
corruption, manipulation and extortion. Furthermore, companies under the shadow economy
are not licensed or registered, preventing the government from collecting direct and indirect
taxes. In general, this type of economy severely affects the government but is helpful for
public by adding jobs and providing income – ways that reduce poverty. Only 20% of
establishment's operate under the formal economy in Afghanistan, and the government
endeavours to formalize the rest.
The growth of the social economy
Most of individuals initially enter the business world by working for private companies and
new companies. A few groups overall are either independently employed in their little
undertakings or work for such ones. Little firms will quite often recruit more often than do
huge firms. However, they likewise will more often than not fire all the more every now and

again. Their consistent employing lies in the way that many little organizations are begun,
and some grow.
The growing organizations require representatives; thus, they recruit. Regardless of whether
private ventures' endurance and extension rate is poor and can prompt conclusion and
laborers losing their positions, a greater number of occupations are added by little
organizations than are removed. That outcomes in a net expansion in the quantity of laborers.
In the event that the economy is solid, people are moved to begin private companies and
grow existing ones, which adds to the labour force. In this way, independent companies and
new businesses give occupations to both the proprietors and others in the public eye.
A few private companies exist internationally and benefit the neighbourhood social orders
they're situated in. They advance financial development and improvement in those areas. All
towns that form into urban areas started by being little nearby local area malls or markets
with little undertakings. With time, they experience development and draw in financial
backers and more organizations. The more they grow, the more fostered the local area around
them becomes. Social conveniences are given subsequently.
Private companies and ventures make a local area monetarily and socially steady. They unite
individuals as they exchange with each other, along these lines upgrading solidarity. They
pay charges to neighbourhood specialists like the city committee to help the networks they're
situated in. Further, when individuals are perpetrated and are attempting to make money by
making private ventures, they will have opportunity and willpower to be inactive and
participate in wrongdoing. That prompts a quiet life.
Not a solitary one of us, society, government, or greater organizations, can make due without
independent companies. That is on the grounds that they are important for the economy.
Private ventures and new businesses are the principal bunches who address
clients/individuals' concerns before bigger organizations. In this way, they are significant in
each general public or country for financial, social, and business venture improvement
(Levin, 2021).

Interpret and Assess Relevant Data and Statistic to Illustrate the Impact
Micro and Small Business Have on The Economy.
As per OECD, little and medium-sized undertakings give almost 60% work in the worldwide
economy. As talked about in this report, distinctive business adventures work diversely in
creating and created nations. This assistance the non-industrial nations in creating abundance
and occupations. Furthermore, some effective business venture models draw in the abroad
interests in the country. At a territorial level, the limited scale models give compelling
answers for a few vital issues with respect to the turn of events. For example, these SMEs can
give arrangements in regards to the admittance to clean water and energy and preparing too
(Storey, 2016).
In immature districts, the SMEs and pioneering models can advance shared success by
releasing the private area drove development. Private ventures assume a critical part in going
to the advancement challenges in the neighbourhood networks as they are the driver of
nearby development. Limited scope organizations aid limit working of bigger organizations
managing in wide scope of regions, like ICT, green innovation, market insight, and so forth
In excess of 27 million individuals are working in the little undertakings. It is additionally
essential to take note of that the development of the limited scale business is supporting. The
quantity of limited scope organizations has dwarfed the huge scope firms. Also, they are
testing the huge scope enterprises by executing shrewd, imaginative, and innovative systems
in the plan of action. Because of which, the 39.5% income comes from limited scope
organizations.
Micro and small businesses play an important role in the UK’s economy. According to recent
researches, it shows that these small-scale companies have a high growth rate. In 2017, 36
percent of SME employers reported growth in small business survey. It shows vital growth in
these sectors and helps to boost up the economy of the UK.

Turnover of small and medium businesses in UK
Figure 1: Mean turnover by micro-business: by region
Source: Micro-Business Britain Survey, (2018).
The graph above explains the turnover of small and medium entrepreneurs in the UK. This
shows significant growth in the turnover of these companies (Stephen, 2018)
Export opportunities created by SMEs in UK
Not just SMEs high turnover helps to boost up the economy but it also helps to create more
export opportunities. SME businesses help GDP to grow by increasing the export rate. Below
mentioned will explain this:

Figure 2: Percentage of micro-businesses exporting: by region
Source: Micro-Business Britain Survey, 2018.
SME organization like Unicorn grocery store, UK is one of the successful models of small,
medium entrepreneurs who help to make a significant boost into GDP of UK by providing
full-time, part-time jobs and increasing GDP. Above graph explained that in UK, SME are
exporting to all over the UK which increase the economy significantly.
Small and medium businesses providing employments in UK
Small businesses play a significant role in the creating employment in UK. The following
graph explains about it.

Figure 3: % of employment small business provided
Source: Market Inspector
The above graph explained that small businesses are having a highest percentage of 99.3%
for providing the employment in private sector in UK. Total employment in SMEs was 15.7
million that was total 60% of all the private sector employment in UK.
The small businesses are basically the new small-scale businesses that aid the nation by
increasing the rate of the employment in the nation and so aid the economy of the nation.
They also support the growth of the local commerce that exists in the nation and so creates an
environment that allows the flow of the monies to a greater extent.
Nowadays, a very large number of the people are motivated and get involved to be a
successful entrepreneur in the market. Due to this, the nation is benefitted along with the
founder and the investors to the venture. This helps the nations to produce a large number of
monies that help the nation to advance and develop and also grow in the terms of the
economic condition of the nation. Due to the presence of these small and micro businesses,
the economy of the nation is highly boosted and this also aids the nation to grow and expand
in all the terms. The below mentioned data and statistics would help to justify the arguments
that are placed over here.

Figure 4 - Number of enterprises, persons employed and gross value added (GVA) and the share of
SMEs, 2012.
Source: (Eurostat, 2015)

Figure 5 - Number of enterprises, GVA, persons employed (FTE), SME share, and
percentage share of de-pendent enterprises in SME category in four special aggregates, 2012.
Source: (Eurostat, 2015)
The above-mentioned statistical data clearly explicate and illustrate the role of the micro and
the small business in the economy of the nation and this also elaborates that how they are
good for the economy of the nation. This aids in the betterment of the nation in all the aspects
and helps in the overall development of the nation due to the good economic conditions of the
country. So, by all this, we can conclude that these small and micro businesses are good for
the economy of the country.

Explain The Importance That Small Businesses and Business Start-
Ups on The Growth of The Social Economy.
When talking about contribution to the social economy, they talk about large companies. But
the reality is that these large corporations are so few compared to small and start-ups that they
can be considered an outlier. It is the small and start-ups that are contributing rapidly behind
the scenes. Some of them are even making paths to make more contributions by turning into
large corporations (Mawson, 2014). Small businesses and business start-ups contribute to the
economy in many ways that are clearly evident. In fact, it is safe to say that the growth of the
social economy will be crippled if we ignore the impact of these businesses. The ways they
take part in the growth are:
· They reduce unemployment by creating jobs
· They promote changes in society by initiating creative destruction
· They add value and satisfy consumer needs
· They provide investment opportunities to venture capitalists (Mawson, 2014).
They reduce unemployment by creating jobs
We have seen that micro and small businesses constitute more than 98% of total businesses
in the UK. This number of businesses requires a huge amount of manpower. A micro
business may employ up to 9 people and small business can employ up to 250 people. So
these businesses reduce unemployment by hiring them. As depicted in the graph, about 48%
percent of employment is provided by these businesses.
They promote changes in society by initiating creative destruction
Start-ups or entrepreneurial firms are known as change-makers of society because they
attempt to introduce something new that would change the way people live in society. They
do so by constantly looking for ways to add values. They add value by creating new or

adjusting new products or services. They search what new products can offer that existing
one cannot. In the process, the existing products fade away because the new ones are more
user-friendly, more comfortable and cheaper. This is known as creative destruction- leaving
old products behind in favour of new ones. This is absolutely necessary for the growth of the
social economy. Because of this, we are riding cars today instead of horses. But it is hard for
large companies to implement these changes. But not so hard for small and start-ups
(Mawson, 2014).
They add value and satisfy consumer needs
Adding value and meeting consumer needs are at the heart of entrepreneurship. They are the
purposes of entrepreneurship. People develop different needs over the time. Fulfilling these
needs are very much related to the development of social economy. What if people did not
feel any need for long-distance communication? What if there were no entrepreneurial firms
to develop phones? This need and fulfilment of the need (along with others) made the
development of social economy possible (Widiger, 2013). The small and start-ups are
continuously looking for ways to add value to the lives of people. Large corporations that
concentrate mainly on the existing products can’t do that often.
They provide investment opportunities to venture capitalists
Start-ups are also opportunities for investors. Most of the start-ups need seed money to start
operations. So, the entrepreneurs seek financial help from the venture capitalists who want to
make some profits by investing. If the investors perceive that the proposal has the potential to
make money, they will invest immediately (Widiger, 2013).
Evaluate The Differences That Small, Medium and Large Businesses
Make to The Economy
Numerous specialists have given their contention with respect to supporting the business for
the financial turn of events. Supporting the most important sort of plan of action can help in
opening the possibilities of public just as nearby economies. Organizations have an alternate

size of tasks. Little and microscale plans of action can undoubtedly adjust to change and
investigate imaginative thoughts. Then again, greater firms looking for bigger benefits are
situating themselves to create huge gains. (Mukherjee, 2016)
There are certain facts related to the promotion of a particular scale of the business.
Increasing the micro-entrepreneurial model of business and large-scale business can have a
negative effect on the economic growth of the nation, especially in the developing country.
Increasing the number of medium size businesses in the nation can have a positive impact on
economic growth, especially in the developed country.
Based on this fact, government and private sector should promote the right mix of small,
medium, and large-scale businesses.
Small, medium and large businesses have their own significant impact on the economy at
different levels of local, regional and national economy. The following are the differences:
Funding – Funding could be the utmost level of difference between small, medium and
large-scale businesses. Small scale businesses usually have funding from their friends,
family, and relatives. On the other hand, medium and large-scale businesses have a large
group of investors who fund their financial needs. It provides them with very much help in
starting their businesses and providing them help to settle down in the market.
Differences in a niche market –Small and medium businesses often focus on the local niche
markets because their target customers are a local neighbourhood. Large companies mostly
have a wide range of customers, it could be national, international so those companies don’t
usually target niche markets. Their targeted customers create a difference between SMEs and
large companies.

Size basics – The size of the employees working in the company is showing the difference
between small and medium and large-scale organizations. Anything more than that will be
considered as medium or large-scale organization.
Legal structure–The legal structure of the company like owners who will be liable for debts
creates a difference between small, medium and large organizations
The industry is divided into sub-parts based on its size, which are as follows:· Small-sized business· Medium-sized business· Large-sized business
Small, medium and large-sized enterprises contribute to the economy to a greater extent as
they are the means of a person's livelihood. Small and medium-sized businesses play a very
crucial role in the economy as they share a large proportion of the population engaging in
these kinds of businesses.
According to International trade in goods statistics (ITGS), Small businesses account for
79.5% of the total businesses, medium-sized businesses account for 13.2% and large
businesses account for 7.3%, even though large-sized businesses pay higher wages as
compared to small and medium-sized firms. In the case of small businesses, they thought of
being more innovative as much as they can but are unable to be innovative up to that extent.
The employment generated by medium and large-sized businesses are mostly highly paid and
are provided with extra benefits such as remuneration, insurance and so on. But small
businesses are unable to provide such benefits as they are mainly the start-ups that require
more fund for further expansion. Moreover, small businesses accounts for 53% in the United

States as compared to the 38% engaged in large-sized businesses. (George Papadopoulos,
2018)
There is high number of small and start-up businesses in UK than the large businesses. Small
and start-up businesses hold huge part in UK’s different industries that can contribute highly
to the economy of this country. On the other hand, large businesses can gain high revenue by
offering quality products or services to develop the brand value. In UK, most of the large
businesses have established in several countries that can help to earn the foreign currencies.
Large businesses focus on different types of operational activities that help to employ huge
employees. In addition, large business organizations invest highly in different CSR activities
(G.G., 2017). Small and start-up businesses concentrate on to provide different innovative
products to gain the attention of the customer and to enhance the business growth. The
businesses those export high volume of products and employ huge employees in UK can help
to reduce unemployment problem from country.
The small-scale businesses are the businesses that have been recently started and hold not
more than 500 employees working for the company. They are not big enough & as proficient
in producing large monies like the large companies, but still, they play a vital role in the
strengthening of the local economies of the nation that helps in the economic growth of the
nation to a great extent.
On the other hand, the medium scale businesses are the ones that have grown enough by the
help of steady and slow progress in its stream and have come out from the stage of being
called a small-scale business. These kinds of the businesses act as the gap between the small
and the large-scale businesses (Gronum, 2012).
The large-scale businesses are the ones that are the completely evolved form of a business or
can also be understood as the completely developed form of a business. These include huge
capitals and investments and are also the direct contributors to the economy of the nation.
They make the use of the small-scale and the medium-scale businesses in order to get their
operations done and employed them to work for them.

Critically Examine How Small Businesses Have an Impact on
Different Levels of The Economy in A Local, Regional, National and
International Context.
Small businesses are an important part of the UK economy. It makes a huge impact on
different levels of the economy. Small scale industries have the following impact on the
economy’s different levels (Salter, 2015)
SMEs are the advancing elements for the open positions. Their job and commitment in the
public, territorial, and neighbourhood economies are surely known. Being limited scale, they
to a great extent affect the populace of the economy. There are in excess of 25 million SMEs
that utilize over 60% of the functioning. Factors like savvy charge construction and
arrangements can help the independent companies. Then again, absence of assets and
endowments are the demotivating factors for SMEs. Two main considerations were
recognized in regards to the size of organizations. In the first place, expanding the miniature
innovative model of business and enormous scope business can negatively affect the financial
development of the country, particularly in the agricultural nation. Second, expanding the
quantity of medium size organizations in the country can emphatically affect monetary
development, particularly in the created country.
The small businesses have diverse effect on the economy of the country in different levels.
As per (Drucker, 2014), in regional level, the small businesses can compete with same types
of businesses by providing quality products and services that can meet the demand of the
customers more effectively. Those businesses are focusing on hiring employees with lesser
salaries due to lack of finance and employ people who have lesser skillset compared to
others, which is helpful in reducing unemployment. As argued by (Kirzner, 2015), in national
level, that organisation can expand to different areas of a country and enhance revenue
generation that enables them to provide higher tax for development of the country. In global
and international level, many of the small organisations export its products and services and
set up branches in different countries. It is helpful in earning foreign currency that contributes
to growth of the country.

The small businesses are the ones that have a smaller number of the employees working for
them and the riches that are generated by them are also very less as compared to the large-
scale businesses and so they are called the small-scale businesses. But if the collective
number of the employees that they provide on the local, regional and national level is
analysed, it is very large. In the same way, the contribution that they provide to the economy
is very small by each one but if we see the collective contribution to the local, regional and
the national economy, it plays a vital and noticeable role in the development and the growth
of the economy of the nation (Smart, 2012).
In the UK, SMEs are the promoting factors for the job opportunities. Their role and
contribution in the national, regional, and local economies are well understood. Being small
scale, they have left a large impact on the UK's economy. There are more than 25 million
SMEs in the UK that employ more than 60% of the working population of the UK. Factors
like smart tax structure and policies can boost the small businesses. On the other hand, lack of
funds and subsidies are the demotivating factors for SMEs in the UK. Two major factors
were identified regarding the scale of businesses. First, increasing the micro-entrepreneurial
model of business and large-scale business can have a negative effect on the economic
growth of the nation, especially in the developing country. Second, increasing the number of
medium size businesses in the nation can have a positive impact on economic growth,
especially in the developed country.
Regional economy levels – IT plays a vital role in even in the local or regional economy of
the UK. It helps to open new markets and expands niche markets of the area. In 2014,
almost5.2 million businesses were small scale businesses in the UK which explain the
situation as well. It helps to grow the industries all over and creates millions of jobs every
year for the people. Employment was earlier a big issue in the UK but from the last few years
because of small businesses everybody is having a job there and a good living standard.
With the pandemic actually seething forward, presently - like never before previously - they
should uphold the independent ventures and business visionaries that make up the networks.
As per the Small Business Administration, in 2019 there were around 30.7 million private
companies in the United States, which represented 99.9% all U.S. organizations. Independent

ventures, which utilize under 50 people, make over 1.5 million positions yearly and record
for over 64% of all new positions made in the country.
SMEs are the advancing elements for the open positions. Their job and commitment in the
public, territorial, and neighbourhood economies are surely known. Being limited scale, they
to a great extent affect the populace of the economy. There are in excess of 25 million SMEs
that utilize over 60% of the functioning. Factors like savvy charge construction and
arrangements can help the independent companies. Then again, absence of assets and
endowments are the demotivating factors for SMEs. Two main considerations were
recognized in regards to the size of organizations. In the first place, expanding the miniature
innovative model of business and enormous scope business can negatively affect the financial
development of the country, particularly in the agricultural nation. Second, expanding the
quantity of medium size organizations in the country can emphatically affect monetary
development, particularly in the created country.
Local economy level-As a result of the pandemic, they are seeing that more modest
organizations with less than 20 representatives being affected the most by cutting hours,
laying-off or ending staff and done utilizing advisors or subcontractors. This most probable is
because of an absence of income and available capital.
Independent ventures and anticipated business visionaries can be the foundation of our
networks, making new positions, helping the nearby economy, and bringing life, appeal and
character to in any case exhaust customer facing facades.
Business people and private companies are genuinely the backbone of their economy, said
Shiawassee Economic Development Partnership President and CEO Justin Horvath. They
make occupations for nearby inhabitants, purchase labour and products from other region
firms, give to philanthropies and local area causes, and pay expenses to help schools and
legislatures. Consequently, they should give their best for help their endeavours to succeed,

While supporting the independent companies and business visionaries that make up the
networks, they keep the neighbourhood economy streaming and strong. At the point when
they burn through $100 shopping nearby, $68 stays in their networks, however when others
use online organizations like Amazon or Walmart, just $43 of each $100 they spend remains.
Moreover, shopping nearby can prompt a multiplier impact, making solid, energetic and
sound networks. (Tedi R. Parsons, 2020)
National economy – small businesses help to increases the productivity of the economy of
the UK. It contributes 47% to the national economy every year. It plays a significant role in
boosting productivity. The public-private sector partnership helps it to deliver high-quality
returns in small businesses. It helps to drives growth rate high.
Entrepreneurs come from an assortment of foundations, each with their own explanations
behind seeking after independent work. Customarily they are autonomously claimed and
worked and have not many representatives. Notwithstanding and due to these independent
ventures are essential to the fate of the United States. These organizations may be little
however their effect is absolutely everything except.
Private ventures are frequently eclipsed in the news by enormous companies and aggregates.
They may not produce as much income exclusively as enormous companies yet they are
indispensable to the achievement of our economy. These are not the mother and pop stores
that they did generally envision and there's more industry assortment now than before.
Almost anything possible can be changed into an independent company with difficult work
and a little karma.
There are three essential ways that independent ventures add to the country. They offer
individuals the chance to accomplish monetary freedom, support advancement, and set out
work open doors. It's that kind of craving for autonomy that floated the independent project
worker economy. Working for yourself is testing however certainly engaging.
Always remember the effect that your independent venture can have locally and the world in
general. An article by Dennis Danheiser named "Biographies: Small Business Edition"
discusses the job every entrepreneur has in energizing the American dream. Dennis states,

"The potential chance to seek after your energy is invigorating, yet there are many difficulties
en route - cash and using time effectively, recruiting the ideal individuals, and advertising,
just to give some examples."
Now and then independent ventures are conceived out of huge thoughts that no other person
has faith in yet. Monstrous organizations beginning in carports is a genuine article as well,
and that is the means by which they wound up with Microsoft, Apple, Amazon, Google, HP,
and Disney. Every one of these authors had an imaginative thought that they had faith in.
Generally speaking, genuine trend-setters want to accept in themselves first and demonstrate
their thoughts should be possible before any other individual will trust in them.
Independent ventures create an expansive assortment of new business open doors. It's not
difficult to underrate their significance assuming they disregard to intently take a gander at
the insights. That features the way that private ventures represent between 60-80% of all U.S.
occupations. Beginning around 1995, independent companies are liable for paying out 44%
of the all-out U.S. private finance. One more significant benefit of independent companies is
that they give cash back to their local area. USA and work at Random Small Business LLC,
odds are they will spend that cash right where they acquired it. That income and the
subsequent duty dollars are then spread around the local area, advancing and supporting
everybody all the while.
the country's soundness is to some degree predicated upon a steady economy and the
monetary strength got from these organizations. Private ventures are a motor of development
that permits the two residents and the public authority to get the labour and products they
need to develop. Simultaneously it permits genuine individuals with smart thoughts to follow
up on them and make their business a reality. Thusly this animates nearby (and public)
economies and urges others to take a similar jump toward turning into an entrepreneur.
(Kriby, 2017)
How international impact upon business start up

International context –Small businesses attracts huge changes in the import-export market
and it helps to attract more and more investors for investing in new and innovative small-
scale start-ups which shows the strength of the economy. It makes a good reputation in the
UK in all other countries (Toma, 2014)
Understanding tax assessment commitments is fundamental in dealing with a new company.
This is one of the principle needs of every entrepreneur or business visionary to have the
option to remain in the right track.
Along these lines, they can best comprehend the ways on the most proficient method to
change the costs of doing business and deal with the whole tasks before the assessments to
pay for a year.
The following is a straightforward aide on how might tax assessment influence a new
company all together that they stay away from more inconveniences and more issues soon. In
such manner, it will assist them with further dealing with their exchanges and truly work it
heeding the guidance given by proficient consultants.
May Require Bigger Businesses of Considering International Tax Planning
With tax assessment, it can influence a new company such that it is expected to consider
worldwide expense arranging. This is additionally particularly with regards to business that
imports and commodities item.
In accordance with this, there is additionally a need to survey the benefits and impediments of
making a business. Rather than arranging or beginning an organization without anyone else,
it might influence them as a proprietor on the off chance that they will in any case proceed
with it or not believing the global expenses to be paid. It will likewise allow them to think

assuming that it is all in all correct to join a gathering of organizations or not as a decent
beginning for their business.
Financing a Start-up Business
Tax collection, as it were, influences a new company in respect with its financing. The
general assessment results will in any case be considered as it could have its effect in another
business. For example, the interest instalments in regards to on the credit money will be
charge deductible.
If their relatives or companions loan some cash to begin your new business, they will
likewise be at risk in the annual expense before the premium that they get. There is a need to
design the beginning up charges including the duty ramifications for any of their financial
backers around.
Issues to Face When it comes on Planning Taxes
Tax collection is expected in practically a wide range of organizations that might actually
acquire enormous profit. In such manner, there might be issues to confront when it comes on
arranging charges. As a proprietor, they should confront the preparation or setting of a ton of
start-up and pre-start costs against the charges.
If their new business uses their resources, they ought to additionally research a greater
amount of assessment productive choices. This will apply in actual resources like elusive
resources and premises including scholarly properties they have as of now evolved.
Assuming their new business has procured significant premises, they might be adequately
fortunate to observe valuable open doors that could assist with limiting the duty payables for
their territory charge. (startupbizhub, 2022)

Comparison of good vs worst start-up business
Switzerland has a GDP of 679 billion as of December 2017 there GDP Growth is 1.4% and
Per-Capita GDP is $80,000 and Public Debt/GDP is 33% and the Population in Switzerland
is 8.5M with an Unemployment of 3.3% and their Trade Balance/GDP is 10.5% and Inflation
is -0.4%
Switzerland has an unemployment rate of only 3.3%, a burgeoning economy and a
notoriously stable political climate, Switzerland is without a doubt one of the best countries
in the world for really anything except the tropical weather.
It has a highly skilled workforce that is ready and willing to work although it may not be as
affordable as it is in other countries on this list.
The country benefits from a highly developed service sector plus a manufacturing industry
that has specialized in high-technology and knowledge-based production. It also has one of
the world’s most sophisticated financial sectors which makes it perfect for safe, calculated
and steady investment.
Apart from the excellent numbers indicating economic growth and prowess, Switzerland also
has other factors that make it an attractive destination for starting a business. These include:
A very transparent legal system that is easy to navigate
Consistent economic and political stability
Low corporate taxes
Efficient capital markets
Exceptional communication and transport infrastructure

Plus, it is a trusted and valued member of the EU which opens up some of Europe’s most
advanced and gigantic markets for investors. And the worst country to start a business is
Libya.
Libya has a GDP of $50 Billion as of December 2017 although GDP has been fluctuating
wildly for the last decade and
GDP Growth is -3%, Per-Capita GDP is $7,800 and Public Debt/GDP is 7% and Libya
Population is 6.4M and when comparing Switzerland unemployment with Libya, Libya has
highest unemployment rate and Libya Unemployment is 30% and Trade Balance/GDP is -
22.4% and Inflation is 27.1%
Libya used to be an African powerhouse. But ever since the Arab Spring that burned through
most Islamic nations in Africa and the Middle East back in 2014, Libya has been reduced to
little more than just rubble.
The country is almost entirely depended on oil and gas exports, but since 2015, rival forces
looking to control the largest oil terminals in the country has led to armed conflict which has,
in turn, greatly impeded the country’s crude oil production.
It is due to that very armed conflict between rivalling factions that makes this country
uninhabitable for business. The lack of infrastructure, the lack of food and security for the
people and the lack of a stable labour force all make Libya not conducive to business
investments at the moment.
Impact the government of Switzerland and Libya have on the start-up
business.

Subsidizing and government support
Admittance to seed and beginning phase subsidizing in Switzerland has worked on in the
course of the most recent couple of years. Notwithstanding, while interest in Swiss new
businesses almost significantly increased somewhere in the range of 2012 and 2017 - -
cresting at generally CHF 1 billion as per a new VC report from Startup ticker - - An and B
finance adjusts running between CHF 5-20 million actually stay a test.
Be that as it may, various drives and assets are attempting to fill this hole. Furthermore the
public authority has begun to take a greater amount of a functioning job as well. Swiss
Economics Minister Johann Schneider-Ammann reported another drive to help Swiss new
businesses last year. This private asset expects to raise as much as CHF 500 million and
incorporates financing from Credit Suisse, UBS, Mobiliary and various enormous banks and
protection reserves.
they need to establish a climate wherein youngsters are ready to face challenges. they need to
raise business visionaries, Schneider-Ammann disclosed to NZZ Am Sonntag.
The pastor has specified that no less than 60% of this asset ought to be put resources into
Switzerland. Drives are additionally looking to government bodies to begin siphoning
additional cash from Swiss benefits assets into our environment, which to date are just
putting under 1% of their assets into investment.
While the public authority might be keeping a solid handle on annuity reserves, it has taken a
greater amount of an interest in making life simpler for new businesses. While originators in
nations like Germany or France are continually eased back to an agonizingly slow clip by
organization, the Swiss assessment organization and the social protection establishments are
similarly easy to explore.

In other adjoining organizations, authoritatively establishing and enlisting an organization
can be a sluggish interaction with loads of administrative work, but in Switzerland the public
authority has put many capacities online to speed things up.
Nicolai Altwegg, the CEO of Ayoo AG, a startup jump starting out of Zurich, clarified that,
until this point in time, the greatest barriers to send off have been outer, for example, the very
sluggish course of getting their application acknowledged to application stores. The things
which ordinarily require some investment, such as raising seed financing, and enrolling their
organization locally were a breeze in correlation."
Local Market
With a populace a little more than 8 million individuals, generally a similar size as London,
the market size in Switzerland powers new businesses to think internationally from Day One.
Nonetheless, in the early years, there is a fall back. Swiss purchasers have a great deal of
purchasing power, and are customarily faithful to local, laid out retailers, regardless of
whether more famous worldwide goliaths enter the market.
This offers a decent springboard for organizations in their initial years.
This market allows Swiss organizations the opportunity to thrive locally, and welcome in
groups and foster innovation that can then permit them to scale globally. It additionally offers
market opportunity for "clone" organizations to arise. Swiss organizers actually get the
opportunity to see what is working in different nations and constructed their own variant for
their home market.
One requirement just glance at the accomplishment of neighbourhood organizations like
DigiTech and Ricardo.ch, which stay considerably more well known in Switzerland than
Amazon, Zalando or eBay, or Deindeal.ch which pushed Groupon out of the market.

Regional Support
when they start their business in an area where small business startups are encouraged in the
form of grants, loan availability, local support groups, taxes, and business friendly
regulations. Incentives that encourage libya people to start businesses by creating a pro-
business environment are more common than they think. It just takes a little research to learn
the lay of the land. they should choose their business location wisely. Alternatively, they can
get a franchise opportunity from bigger businesses. It’s the perfect solution if they need some
extra stability and are looking for fast expansion.
Employment
when starting a business, they need to have a team that will support them and lead their
business to success. Hiring locally will cut down the recruitment costs since the won’t have to
pay for relocation expenses. The people living in their community have great talent and since
they understand their local market, can play a major role in growing their business. Another
option is to outsource. Sites like Upwork are perfect for identifying talent that’s well-versed
in everything from sales to finance.
If they are hiring people locally and they work shifts at their business, it makes sense to use
timesheet software to record their hours. Doing so will ensure them don’t underpay (or
overpay) their team for their worked hours.
Vietnam government impact on business start-up
Beginning around 2017, Vietnam has arisen as a start-up centre point intently rivalling
territorial pioneers. Then, at that point, came 2020, when the nation recorded a US$400

million expansion in ventures, demonstrating great that the country could match Indonesia as
Southeast Asia's development market for tech speculations. Albeit the principal half of 2020
saw a 22% decrease in bargains contrasted with a similar period in 2019, owing
fundamentally to the monetary effect of Covid-19, raising support by Vietnamese new
businesses has given indications of recuperation in the last part of the year.
Specialists figure that there are various drivers of Vietnam's rise as a start-up center in
Southeast Asia. These remember income development for advanced areas, for example,
fintech and web-based business, rising shopper spending, expanding revenue from unfamiliar
venture reserves - especially Japanese, Singaporean, and South Korean VC reserves - and
designated government support.
Indeed, even unfamiliar financial backers play had a significant impact in subsidizing
Vietnamese new businesses. In February 2020 for an occurrence, Affirma Capital put US$34
million in Sieu Viet Group, which centers around online enlistment. Japan's SoftBank and
Singapore's GIC put US$300 million in fintech VNPay. US-based 500 Start-ups plan to put
resources into 80 Vietnamese new companies by 2021.
Tech area rules
Somewhere in the range of 2016 and 2019 alone, put capital in tech new companies has
ascended by a variable of eight arriving at a pinnacle of US$861 million of every 2019.
Hanoi and Ho Chi Minh City specifically have fostered a hearty biological system for tech
new businesses. Areas, for example, internet business, fintech, man-made reasoning (AI),
food-tech, undertaking arrangements, and data innovation administrations have overwhelmed
subsidizing adjusts as of late.
In fintech, for example, there were 123 new businesses in Vietnam in 2020 contrasted with
only 44 out of 2017. These patterns mirror the solid potential for development in Vietnam's

advanced economy and the capacity of Vietnamese new businesses to catch market open
doors.
Government support
The Vietnamese government, to empower business, has laid out various assets at state,
common, and city levels to help new companies. Likewise, the public authority has
additionally worked together with nations and banks to foster subsidizing and development
programs, give advances, specialized preparation, and business tutoring.
That made the Vietnam start-up environment display great improvement while monitoring
the pandemic. In accordance with the new fast development of tech new businesses in
Southeast Asia, Vietnam sent off a program to speed up the establishing of new companies
and to assist recuperation from the speculation drop-off during the primary portion of 202
because of Covid-19. The point is to advance the nation's development, exploit new open
doors, drive usefulness, and lift business.
A major bait for unfamiliar financial backers or organizations hoping to set up activities in
Vietnam is the worthwhile expense motivators presented by the Vietnamese government. The
Vietnamese government focuses on interest in IT and boosts interest here. Innovation
organizations are qualified for corporate annual assessment (CIT) motivations which
incorporate 15 years of CIT at 10%, four years of CIT exclusion, and half expense decrease
for the following nine years, which are exceptionally alluring recommendations for
worldwide organizations hoping to set up tasks in the country.
Abroad innovation organizations setting up an office in Vietnam can likewise get extra
motivations, for example, land lease exclusion for IT organizations inside tech parks worked
by the public authority, further assisting with lessening their costs. Also, not at all like a few
Asian nations, where unfamiliar organizations can have a limit of half proprietorship with the
other half expecting to go to a neighbourhood accomplice or organization, Vietnam offers

worldwide organizations setting up activities in the country 100 percent unfamiliar
possession, making settling in Vietnam an extremely appealing suggestion. (Kaur, 2021)
Businesses are a vital component of every economy. It creates job and reduces the burden of
many households. The number of launched Start-up is very high and the number of start-ups
that don't survive is highly correlated. Factors such as environment, social, technological, and
political factors are known to be the most common factors that cause the failure of most start-
ups. Others such as knowledge in the said area of start-up, leadership skills, financing,
marketing, and promotion are also major factors which affect the performance of the start-
ups.
The objective of this research is to dive into the demographic factors that influences
innovation in start-ups and to find factors that will help increase the success in securing
Funds. Start-up’s failure and success depend on a countless number of factors, Literature has
identified one major point which affects start-up in their product design, marketing,
innovation, and strategies. Financing has been identified as a major factor in the success of
most start-ups. Because of the market crash of 2008, it has been difficult for start-ups to come
up with financing. Which intends has affected start-up innovation. Focused is particularly on
the demographical factors that affect innovation in start-ups. Most start-ups fail not because
they lack financing but because they do not have the foresight and good R&D team. It has
been identified that financing is highly correlated with good innovation. Many companies
were not able to survive because they could not keep up with the innovation cap in the
market. Innovation can be seen as a survival technique.
Conclusion
In this report, a brief introduction to the entrepreneurship and entrepreneurial ventures was
described. In addition to this, it also elaborated on the typology of entrepreneurship. In
addition to this, it also covered the differences between the types of entrepreneurial ventures.
Apart from this, a discussion on the impact of micro and macro scale businesses on the

economy was also given. The report ended with the explanation of the importance of small
business start-ups on the growth of the social economy.
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