BTEC Level 4 HND Diploma in Business Unit number and title Unit 9: Entrepreneurship and Small Business Management

Student’s signature: Grading grid P1 P2 P3 P4 M1 M2 D1 D2 Summative Feedbacks: Resubmission Feedbacks: Grade: Assessor Signature: Date: Internal Verifier’s Comments: Signature & Date: Assignment Brief 1 (RQF) Higher National Certificate/Diploma in Business Student Name/ID Number: Unit Number and Title: Unit 9: Entrepreneurship and Small Business Management Submission date Date received (1st submission) Re-submission date Date received

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ASSIGNMENT 1 FRONT SHEET
Qualification BTEC Level 4 HND Diploma in Business
Unit number and title Unit 9: Entrepreneurship and Small Business Management
Submission date Date received (1 st submission)
Re-submission date Date received (2 nd submission)
Student name NGUY N TRÍỄ Student ID GBS190295
Class GBS0805 Assessor name MR. C NGƯỜ
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’s signature:
Grading grid

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P1 P2 P3 P4 M1 M2 D1 D2

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 Summative Feedbacks: Resubmission Feedbacks:
Grade: Assessor Signature: Date:
Internal Verifier’s Comments:
Signature & Date:

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Assignment Brief 1 (RQF)
Higher National Certificate/Diploma in Business
Student Name/ID Number:
Unit Number and Title: Unit 9: Entrepreneurship and Small Business
Management
Academic Year: 2020 - 2021
Unit Assessor:
Assignment Title: Entrepreneurial Ventures
Issue Date:
Submission Date:
Internal Verifier Name:
Date:
Submission Format:
Format: This assignment is an Individual assignment. You must use font Calibri size 12
or bigger font size, set number of the pages and use multiple line
spacing at 1.5. Margins must be: left: 1.25 cm; right: 1 cm; top: 1 cm and
bottom: 1 cm. The reference follows Harvard referencing system guided
by the University of Greenwich. The recommended word limit is 1500 -
2000 words (+/- 10%). The cover page of the report has to be the
Assignment front sheet 1.
Submission Students are compulsory to submit the assignment in due date and in a way
requested by the lecturer. The form of submission will be a hard copy or a
soft copy posted on h ttp://cms.greenwich.edu.vn/. Remember to convert
the word file into PDF file before the submission on CMS. Otherwise, you
will fail and have to retake the assignment.

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Note: The individual Assignment must be your own work, and not copied by or
from another student or from books etc. If you use ideas, quotes or data (such
as diagrams) from books, journals or other sources, you must reference your
sources, using the Harvard style. Make sure that you know how to reference
properly, and that understand the guidelines on plagiarism. If you do not, you
definitely get fail!
Unit Learning Outcomes:
LO1 Explore and illustrate the range of venture types that might be
considered entrepreneurial.
LO2 Assess the impact of small businesses on the economy.
Assignment Brief and Guidance:
*This assignment guidance is for reference only and can be customized by the tutor to
meet specific needs
Scenario and activity:
You are a small business consultant. You are required to compile a report in/with a form
of a formal business brochure to boost and build entrepreneurship among young adults.
You are to “mind the gap” and shift the attention to entrepreneur education by exploring
the range of business ventures available.
Structure of the report
1. D ifferent types of entrepreneurial ventures:
The report should examine concepts of different types of entrepreneurial
ventures and explain how they relate to the typology of entrepreneurship.
You should choose one example for each type of entrepreneurship (small
business, scalable startup, high growth firms, social enterprise), at least one of
which should be a local business.
2. S imilarities and differences between entrepreneurial ventures:
You must explore and compare different business environments among

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entrepreneurial ventures in general. The business environments may include
some internal and external factors (i.e from any models of Mc Kinsey’s 7S,
PESTEL, Porter’s Five forces, Porter’s Value Chain, VRIO, …) which are most
important to the existence, development, and growth of these ventures.
The report should continue to investigate a diverse range of entrepreneurial
ventures in both corporate and public sector context. Besides, the scope, lifestyle,
development, and growth of entrepreneurial ventures should be critically
examined and discussed. In the report, appropriate information from each of your
chosen examples should be used to illustrate for such similarities and differences.

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3. I mpacts of micro and small businesses on the economy:
The report should illustrate the impact of micro and small businesses on the economy at
a local level by interpreting and assessing relevant data and statistics of the number and
type of small firms and their contribution to the economy (i.e., creativity and innovation;
intellectual property rights; size, turnover, profit, rate of growth; sustainability of GDP
and macroeconomics figures; and adaptability of industries, sectors… )
4. I mportance of small businesses and start-ups:
The report should explain the importance of small businesses and businesses start-ups
to the growth of the social economy at different level of local, regional, and national such
as from creativity and innovation; employment, human development, entrepreneurial
spirit, …
In order to have appropriate information, data and statistics to support your findings,
you could conduct primary research using one of the following methods:
 Develop your own questionnaire and hand it to different start-ups and small businesses,
then provide a conclusion and make recommendations, if any, based on your findings.
OR
 Conduct your own interview with at least one small business or start-up owner of your
choice (can be someone of your acquaintances) and base your findings on the interview
analysis.
The report should evaluate the differences between the above discussed roles and
importance of micro and small businesses with respective roles and importance of
medium and large businesses at your chosen locality and on regional, national, or
international level.

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INTRODUCTION
As technology changes with the world around us, so do the job prospects for our children and
future generations. In fact, up to 30% of jobs could become obsolete in the next 20 years. It is huge!
With the advancement of technology and society, starting a company and becoming your own boss
and entrepreneur has become more accessible and more acceptable.
With the tremendous benefits of business experience and enormous advantages for those who are
starting to learn and build a business in their teen years, encouraging young people to start a
business is one of the best ways to help. successful children in the future. Plus, sometimes we see
traits as a teenager and the best we can do is turn those traits into success.

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MAIN BODY
LO1: Explore and illustrate the range of venture types that might be
considered entrepreneurial.
I .What Is Entrepreneurship ?
The practice of ideating, developing, launching, and running a business venture along with its
financial risks is called entrepreneurship.
It is very important for the economic development of the expanding global marketplace, especial in
VietNam. A person who undertakes entrepreneurship is called an entrepreneur.
Generally, starting your own business is a tough proposition as 90% of startups fail each year.
However, it comes as no surprise that more and more people choose to be independent in their
professional careers. In fact, 2 out of 3 people worldwide think entrepreneurship is a good choice
(Moynihan and Titley, 2012).
Majority of the people think that entrepreneurship has just one meaning. But there are different
types of entrepreneurship as described below:
II. Types Of Entrepreneurship
1. Small Business Entrepreneurship
In today’s world, the majority of businesses are still small businesses. In the U.S, 99.7% of all
companies are small businesses and they employ 50% of all non-governmental workers.
They are mostly barely profitable, but they make profits only to make a living and support their
families. Such businesses lack the scale to attract venture capital and they are funded via
friends/family or small business loans.
Examples of small business entrepreneurship include hairdressers, grocery stores, electricians,
carpenters, plumbers, consultants, etc (Moynihan and Titley, 2012).
2. Scalable Startup Entrepreneurship

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In this type of entrepreneurship, entrepreneurs start their company believing that their vision can
change the world. Their funding comes from venture capitalists and they hire the best employees.
Finding a scalable and repeatable business model is their goal. Once they find it, further funding
from venture capitalists is required for growing their business (Moynihan and Titley, 2012).
Scalable startups only make up a small proportion of all businesses due to the risk capital and
outsize returns.
Examples of scalable startup entrepreneurship include Facebook, Instagram, Online shopping for
electronics, etc.
3. Large Company Entrepreneurship
Large companies through sustaining innovation, offering new products that are variants around
their core products. New products are developed in order to meet with changing customer needs
and advanced technology. Often, companies do this by partnering with or buying innovative
companies.
Examples of large company entrepreneurship include Google, Microsoft, Samsung, etc.
4. Social Entrepreneurship
Social entrepreneurship is where an entrepreneur creates products and services to solve social
needs and problems. Their only goal is to make the world a better place and not to make profits or
acquire wealth. They can be non-profit, profit or hybrid.
One example of social entrepreneurship is an organization named Safepoint Trust by Marc Koska,
which works to redesign medical tools and introduce inexpensive non-reusable syringes for
underfunded clinics around the world. This organization was able to deliver 4 billion safe injections
across 40 countries with their breakthrough Auto-Disable syringes.
According to relate with the typology of entre..it provides different types of benefits such as :
 Expansion and growth

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 Attract new customer
 Labor division
 Capabilities of taking risk
 Provide access to finance
 Social entrepreneurship: these businesses are generally related to social activities. They
focus on solving the problems and complexities of social activities. They develop fund to
resolve the environmental issues which affect their business. In the prior approach,
companies do not take interest in social entrepreneurship but nowadays this
entrepreneurship is one of the-best using approaches in large-scale businesses.
 A-Typology-of-Entrepreneurship-and-Some-Illustrative-Examples
P2 Explore the similarities and differences between entrepreneurial ventures.
 Entrepreneurial Ventures based on Business Structure
1. Private
 Has separate legal identity and bank account from the owners (Borrington and Stimpson, 2013).
 Has relatively few shareholders and directors are usually the main

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 ones (Bradley, n.d.).
 Cannot sell shares publicly in the market (Bradley, n.d.).
 Aim to maximize profit and provide transparency during financial reporting (Bradley, n.d.).
2. Limited
 Owned by private individuals (Borrington and Stimpson, 2013).
 Has separate legal identity and bank account from owners (Borrington and Stimpson, 2013).
 Has limited liability (Borrington and Stimpson, 2013).
 Has thousand of shareholders and conduct Annual General Meeting (AGM) for decision making
(Borrington and Stimpson, 2013).
3. Enterprise
 Aim to maximize shareholders and company value (Kokemuller, 2019).
 Aims to balance activities that provide financial benefits and social goals (BC Centre for Social
Enterprise, n.d.).
 Tends to prioritize social mission, leaving income generation as supporting role (BC Centre for
Social Enterprise, n.d.).
 Aims to earn revenue to maximize benefits to the community (BC Centre for Social Enterprise,
n.d.).
 Entrepreneurial Ventures based on Ownership
1. Public Corporation
 Based on Borrington and Stimpson (2013):
 Owned by government but there is no direct government intervention.

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 Board of Directors are responsible for the running of the business.
 Able to sell their shares publicly in the market.
 Aim to help the government in boosting economic growth of the country (Singh, n.d.)
Ex: PT. Pertamina & PT. Telekomunikasi Indonesia
2. Private corporation
Based on Moynihan and Titley (2012, p.191):
 Owned by private individuals and has separate
 legal unit and bank accounts from owners.
All purchases and loans can be made under the name of the company.
 Aim to fulfill consumers demands for profit
maximization.(Zona Referensi, 2018)
Ex. PT Indo Right Pack (owned by Lioe Benny Santoso Wijaya)
(Indo Right Pack, n.d.)

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 Similarities & Differences between Entrepreneurial Ventures based on
Business tructure Size Orwner ship
S Private and Public Limited
Enterprise is being treated as a
separate legal unit from its owners.
Micro and Small
Businesses both aim for
survival in the market.
Both Public and
Private Corporations
strive to generate
profit.
D Private Limited is not allowed to sell
their shares publicly in the market,
while Public Limited can, Both
Private and Public Limited put profit
maximization as their main goal,
while Social Enterprise main goal is
to serve the community.
Medium businesses aim for
expansion, while large
businesses no longer
worry about their ability to
survive, but aim to have a
major control over the
market share.
Public Corporations
tend to use their
revenue for building
and making public
things that will
benefit the whole
society.
P3 Interpret and assess relevant data and statistics to illustrate how micro and small businesses
impact on the economy.
Enterprise is the most important sector contributing to the size and economic growth of the
country. In economies with different development characteristics, the role of small and medium-
sized enterprises is shown to different degrees. But the reality shows that the importance of small
and medium enterprises is growing when the scope of operations is increasingly expanding,
reflected through the number of businesses, activities in many industries, fields and existence. as an
indispensable part of each country's economy. Small and medium-sized enterprises create jobs for
workers, contribute to reducing unemployment. Small and medium-sized enterprises play an
important role in stabilizing and promoting economic growth.

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Unemployment rate in America
(USA - Unemployment Rate, 2021)
According to the CBO, the Covid-19 boom and measures of social distancing caused the economy to
stop. Although America is slowly reopening, this will be a difficult decade for it.
The CBO forecasts that the unemployment rate will drop to 10.5% in the fourth quarter of 2020 and
to 7.6% in the fourth quarter of 2021.
The US Bureau of Labor Statistics released a report on July 2 showing that US businesses recruited
4.8 million more workers in June, bringing the unemployment rate down to 11.1%(US: 10 years
later the unemployment rate cannot recover - Bao Kiem Toan, 2020) GDP ratio
P4 Explain the importance of small businesses and business start-ups to the growth of the
social economy
Small and medium-sized enterprises play a very important role in each country's economy,
including countries with a high level of development. In the current trend of integration and

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globalization, all countries pay attention to supporting small and medium enterprises to mobilize
maximum resources and support large enterprises, increasing the competitiveness of products.
For Vietnam, the position of a small and medium enterprise is even more important. This is most
evident in recent years. Specifically
a) Small and medium enterprises make up a large proportion of the total number of
enterprises
Among the types of production and business in our country today, small and medium enterprises
have the power to spread in all areas of socio-economic life.
According to the new criteria, small and medium enterprises account for over 93% of the total
number of businesses in the following forms:
State-owned enterprises, private enterprises, joint stock companies, foreign-invested enterprises.
It can be said that most of the non-state enterprises in Vietnam are SMEs.
b) Small and medium enterprises are the main job-creating places in Vietnam
In fact, in recent years, it has been shown that all small and medium enterprises, especially the
majority of enterprises in the non-state sector, are the main source of job creation in all sectors.
Specifically, data from the General Statistics Office shows that: SMEs employ nearly 1 million
employees, accounting for 49% of the national workforce;
In the central coastal provinces, the number of employees working in small and medium enterprises
in comparison with the number of workers in all sectors is the highest in the country (67%); The
Southeast has the lowest rate (44%) compared with the national average.
Thereby, we can see that small and medium enterprises play a very important role in creating the
majority of jobs in Vietnam, meeting the employment needs of the people, contributing to income
generation and improve living standards for people.
c) Form and develop a team of dynamic businessmen

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The appearance and growth of each business depends a lot on the makers of them.
Due to the characteristic that the number of small and medium enterprises is very large and must
constantly change to adapt to the surrounding environment, react to adverse effects due to the
development, tendency to accumulate and centralize. manufacturing.
Mergers, dissolution and appearance of small and medium enterprises often take place in all phases.
It is a great pressure for the managers and founders to have high flexibility in management and
operation, dare to think, dare to do and take risks.
It is the presence of these managers along with their ability, qualifications, awareness of the market
situation and their ability to seize business opportunities that will greatly affect the operations of
each medium. and small.
They are always at the forefront of innovation, looking for new ways, setting the mission of
transforming to suit the business environment.
For a country, the development of the economy depends greatly on the presence of this team, and it
is this team that will create a dynamic and flexible economic structure suitable for the market.
d) Exploit and make good use of local resources
From the characteristics of production and business activities of small and medium enterprises has
created for enterprises the advantage of location for production and business activities.
In fact, small and medium enterprises have been present in most regions and localities. This has
helped businesses make use of and make good use of local resources.
We can demonstrate from the workforce: SMEs employ almost half of the non-farm workforce
(49%) throughout the country, and in some regions it already does. Utilize the vast majority of the
non-agricultural workforce.
In addition to the labor force, small and medium enterprises also use the financial resources of the
people in the region and the raw materials in the region for production and business activities.

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CONCLUSION
Through the above
analysis, we can clearly see
the increasing role and
importance of small and
medium enterprises and
the huge growth potential
of this sector. Because
SMEs are the driving force
for economic development,
job creation and domestic
capital mobilization ... For
these reasons, encouraging and supporting the development of medium and Small is an important
solution to implement socio-economic development strategies to ensure the sustainable
development of the economy for the country. The above analysis is also a premise for the
development of young people to open a company that develops according to their talents.

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REFERENCE LIST
 Borrington and Stimpson, 2013. 3 Types of Entrepreneurs | Viking Mergers & Aquisitions. [online]
Viking Mergers & Acquisitions. Available at:
<https://www.vikingmergers.com/blog/2014/types-of-entrepreneurship/#:~:text=There
%20are%20generally%20three%20different,general%20characteristics%20of%20each
%20type.> [Accessed 14 April 2021].
 Moynihan and Titley, 2012. Differences Between Entrepreneurship and Small Business - Novel
Coworking. [online] Novel Coworking. Available at:
<https://novelcoworking.com/blog/differences-between-entrepreneurship-and-small-
business/#:~:text=A%20small%20business%20is%20an,an%20industry%20or
%20maximizing> [Accessed 8 April 2021].
 Zona Referensi, 2018. [online] Available at: <https://www.tanthanhthinh.com/vai-tro-cua-cac-
doanh-nghiep-vua-va-nho.html> [Accessed 14 April 2021].
 Kokemuller, 2019. Best Ways to Encourage Youth Entrepreneurship | Beta Bowl. [online] Beta
Bowl - turning kids into entrepreneurs. Available at: <https://beta-bowl.com/best-ways-to-
encourage-youth-entrepreneurship/> [Accessed 17 April 2021].