PEST Analysis and Skills of Entrepreneurship in the UK

ENTERPENURSHIP 1

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
PEST ANALYSIS.......................................................................................................................1
Political factor:...................................................................................................................1
Economic factor:................................................................................................................2
Social factor:......................................................................................................................3
Technological factor .........................................................................................................3
Skills and trails of entrepreneur .................................................................................................4
Trails of enterpenures .......................................................................................................4
Skills of entrepreneurship .................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
The entrepreneurship refers to the process which consist of land, capital, labour, natural
as well as artificial resources. Basically it indicates a person who generate surplus and ready to
bear all the risk. In entrepreneurship an individual established start-up plans and ventures into
the marketplace with the motive of achieving individual goal (Apostolopoulos, et.al 2018). The
process of entrepreneurship includes scheming, launching and running new company by the
individual person who willing to get succeed in the market. The present report will examine the
PEST analysis on the united kingdom macro environment in context of entrepreneurship.
Furthermore. The report will determine the relevant skills and trails that will entrepreneurs
utilized in order to get succeeded in the marketplaces with affiliated examples.
MAIN BODY
PEST ANALYSIS
It refers to the plans of action which utilized to determine the factors which are related to the
enterprise. In the analysis the PEST indicate political economical social as well as technological
factors which affect the enterprise in the both ways positive and negative (Tsvirko, 2020). It
gives assistance in increasing the scale of the organizational profit as well as generate more
customers. It will identify the upcoming or forthcoming challenges for the organization. With
the help of the PEST analysis the enterprise of the organization innovate the services and
product quality of the organization. The entrepreneur can take major steps on the bases of this
analysis for further growth. The various factors of the analysis covers different segments by the
entrepreneur of the company in a manner which are as follows:
Political factor:
in the pest analysis the P stands for the political environment which affect the performance of
the organization. The factor consist of the rules and regulation impose by the government for
the business enterprises and the industry. The entrepreneurs of the organization reduces the risk
and protect the businesses from the losses. This factor gives assistance to the organization in
order to grow in the global as well as international market. The political components consists of
tax and economic policies in which increment and decrement of tax rate affect the enterprises.
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