Entrepreneurship and Small Business Management

HNBS 309
ENTREPRENEURSHIP AND
SMALL BUSINESS
MANAGEMENT

Table of Contents
INTRODUCTION.......................................................................................................................................2
LO1.............................................................................................................................................................3
P1 Examine different types of entrepreneurial ventures and explain how they relate to their typologies
of entrepreneurship..................................................................................................................................3
P2 Similarities and differences between entrepreneurial ventures...........................................................5
LO2.............................................................................................................................................................6
P3 Assess relevant data and statistics to illustrate how micro and small businesses impact on economy 6
P4 Explain importance of small business and business start-ups to growth of social economy...............8
LO3.............................................................................................................................................................9
COVERED IN PPT......................................................................................................................................9
LO4.............................................................................................................................................................9
COVERED IN PPT......................................................................................................................................9
CONCLUSION...........................................................................................................................................9
REFERENCES..........................................................................................................................................10
INTRODUCTION

Entrepreneurship and small business management refers to an creative term in today’s
business world as it shows as a heart of the every enterprise because it helps the entrepreneur to
take the risk and earns a high profit margin and large growth so that they can sustain in the
marketplace for a longer period of time. This term also helps on enhancing the living standards
and also provides benefits to the economy of the country. This report explains the various types
of entrepreneurship ventures with their typologies so that identification would be easy and
effective and this study helps in enhancing the knowledge related to the entrepreneurship and
small and start-ups business ventures by using similarities and differences of that. Further it
shows the relevant statistics and data that shows the impact on the economy. It also suggests the
significance of small and start-ups business in the social economy. Further it shows the
characteristics, traits and skills of entrepreneurs that can help in to become a successful in their
life. At last it involves their background and experience that can hinder and foster to become
successful( Alsafadi and et. al., 2020).
LO1
P1 Examine different types of entrepreneurial ventures and explain how they relate to their
typologies of entrepreneurship
Entrepreneurship- It refers to a extraction and creation of the value by taking the financial risk
for earning the higher profits and longer sustainability. This is an effective process that helps in
designing, running and launching the new business for maximizing the profits for longer survival
of firm. Entrepreneurship can be run by a person who called entrepreneurs that includes
technology, services and activities to get customer attracted(Henry, Foss and Ahl, 2016).
Types of entrepreneurship- It includes various types of entrepreneurship that can be shown
below.
 Large company entrepreneurship- This term denotes as those business ventures that
are working with high capital, more monetary value for satisfying the customer’s needs
and wants and gaining the competitive advantage in the same industry. They are mainly
worked for maximize the revenues and satisfying the customer’s demands by focusing on
adopting the advanced technology. Example- Google, Yahoo, Apple etc(Bogdanova and
et. al., 2016).