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Optimisations to small business post BREXIT FOR UK Table of contents Introduction 3 Small scaled entrepreneurship

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Added on  2020-06-05

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OPPORTUNITIES TOWARDS SMALL BUSINESS POST BREXIT FOR UK Table of contents Introduction 3 Task 1 Explore and illustrate the range of venture types that might be considered entrepreneurial 3 Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship. [P1] 3 Small scaled entrepreneurship 3 Scalable entrepreneurship 4 Large scaled entrepreneurship 4 Social entrepreneurship 4 Explore the similarities and differences between entrepreneurial ventures. [P2] 4 Task 2 Assess the impact of small

Optimisations to small business post BREXIT FOR UK Table of contents Introduction 3 Small scaled entrepreneurship

   Added on 2020-06-05

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OPPORTUNITIES TOWARDS SMALL BUSINESS POSTBREXIT FOR UK
Optimisations to small business post BREXIT FOR UK Table of contents Introduction 3 Small scaled entrepreneurship_1
Table of contentsIntroduction..................................................................................................................................3Task 1 Explore and illustrate the range of venture types that might be considered entrepreneurial............................................................................................................................3Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship. [P1]............................................................................................3Small scaled entrepreneurship.................................................................................................3Scalable entrepreneurship.......................................................................................................4Large scaled entrepreneurship.................................................................................................4Social entrepreneurship...........................................................................................................4Explore the similarities and differences between entrepreneurial ventures. [P2]......................4Task 2 Assess the impact of small businesses on the economy..................................................5Assess and interpret relevant data and statistics in your mini-research, to illustrate how micro and small businesses impact on the economy. [P3].................................................................5Explain how important small businesses and business start –ups will contribute to the growth of the social economy. [P4]......................................................................................................6Task 3 Determine and assess the key aspects of an entrepreneurial mind-set...........................7Determine the characteristics, traits and skills of successful entrepreneurs, which differentiate them from other business managers. [P5]................................................................................7Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset. [P6]............................................................................................................................8Task 4 Examine the different environments that foster or hinder entrepreneurship.....................9Examine , using relevant examples obtained through your mini-research, how background and experience can hinder or foster entrepreneurship. [p7].....................................................9Conclusion.................................................................................................................................10References:...............................................................................................................................11
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IntroductionBritain’s exit from the European Union in the year 2016 has resulted in deterioration in the valueof pound sterling. In fact, pound sterling has been the worst performing currency in the year2016, which has not recovered ever since. The topic of focus in this assignment is to identify theadverse effects of Britain’s exit from the European Union in the economy of Great Britain. Dueto the great deterioration of the value of pound sterling, people will now have less control overbuying and spending. Therefore, limiting the expansion and control of entrepreneurs and startupbusinesses in the country.Task 1 Explore and illustrate the range of venture types that might be considered entrepreneurial Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship. [P1]People who use their innovation, creation and designs in launching a business with an aim toearn revenue is called an entrepreneur and the process is known as entrepreneurship. Thesebusinesses are initially small scaled but with time these businesses expand and grow into a largescaled business1. The various types of entrepreneurial ventures which are also related to thetypologies of entrepreneurship are as follows:Small scaled entrepreneurshipThese businesses are small scaled and their business enterprises are normally grocery stores,consultants and hair dressers. There are millions of small scaled businesses in the UK and thesmall scaled business enterprises employ the maximum number of people among thenongovernmental workers in the country. These businesses run on a small amount of capital and1Brooks, Alison Wood, Laura Huang, Sarah Wood Kearney, and Fiona E. Murray. "Investorsprefer entrepreneurial ventures pitched by attractive men."Proceedings of the National Academyof Sciences111, no. 12 (2014): 4427-4431.
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the employees who work in these enterprises are normally family members or relatives of theowner or local people of the places.Scalable entrepreneurshipIn contrast to small scaled businesses, a scalable entrepreneurship is a business enterprise whichis solely based on innovation. The ideas, visions and the products designed by theseentrepreneurs can change the world. For example, companies like Google and Microsoft areexamples of scalable entrepreneurships. These type of business organizations attract numerousinvestors and always recruit the best and the most promising talents from all around the world tomaintain and continue their quality of business operations all throughout the world2.Large scaled entrepreneurshipThese business enterprises are the ones which grow by innovating products based on their coreproducts. These companies have to take measures and monitor customers’ tastes and preferencesas well the rival companies in the market to sustain in the business world.Social entrepreneurshipThese business enterprises can be profit making or non-profit making or even hybrid enterprises.These organizations do not conduct business to earn revenue or gain market share, but they focuson developing products and services in order to solve the needs and issues of the society. Explore the similarities and differences between entrepreneurial ventures. [P2]The aforementioned type of business organizations highlights and explains the various types ofentrepreneurial ventures in the market. The similarities and the differences are discussed asfollows:Similarities●The small scaled, scalable and the large scaled business organizations are in the market toconduct business and earn revenue from the market. The primary focus of thesecompanies is to penetrate the market and reach out to all the customers with an aim tomake profits.2Burrows, Roger, ed.Deciphering the Enterprise Culture (Routledge Revivals):Entrepreneurship, Petty Capitalism and the Restructuring of Britain. Routledge, 2015.
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