INTRODUCTION Entrepreneurship can be defined as a process of starting a new business by taking financial risks and perform business activities with the view to generate profits from the market. The people who create these kinds of businesses are known as entrepreneurs.Inordertomakethedesiredlevelof effectiveness,morecreativityandinnovationsuccessfully ascertainedtogainmoretargets(Devece,Peris-Ortizand Rueda-Armengot,2016).Inthepresentstudy,researchis conductedtofocusondifferenttypesofentrepreneurial ventures and relate the, with typology. Furthermore, it includes similarities and differences between different entrepreneurial ventures to gain positive results at the workplace. Different types of entrepreneurial ventures and how it relates to the typology of entrepreneurship Entrepreneurshipconsistsofimportantroleinthe business success which demonstrates unique idea and enhances significant outcomes in a positive way. In this way, more profits and revenue will be successfully gained to focus on different activities and operate them successfully in different areas of the world (Schaupp and Bélanger, 2019). In this consideration,thefollowingaredifferentkindsof
entrepreneurship venture considered at the workplace with typology:Small businesses' entrepreneurship: Small business entrepreneurshipcanbedefinedasthiskindof entrepreneurshipthatconsiderstheiroperationsin unique and innovative ways. Therefore, it helps to start work with an appropriate plan with assessment properly to the market competition. Different businesses deal in this kind of sector to operate successfully in different areas of the world such as grocery, travel business, barber shops, etc. Hence, they all possessed innovative skills and ideas to successfully owned operations and functions which influence several numbers of people (Lima, Lopes and da Silva, 2015).Scalable startup entrepreneurship: In addition to this, scalable entrepreneurs demonstrate their functions and operationswithmoreinnovationtoattractseveral numbers of customers together. In order to implement effective results, it can be stated that the favourable idea will be promoted to get more involvement of people. Opportunity also increases for entrepreneurs to gain high investment and develop a positive brand image of the company as well. In this kind of entrepreneurship venture, a unique idea successfully promoted which helps to deal in innovation in different products to attractmorecustomers(Ghio,GueriniandRossi- Lamastra, 2015). Socialentrepreneurship: In this kind of entrepreneurial venture, it can be stated that they have benefit to provide social services in a particular community that increase more welfare of people in a particular society. Social entrepreneurs have no motive to earn profits and revenue so that typology considered serve effectively in large aspects of a social group (Schaupp and Bélanger, 2019). Serial entrepreneurship: These kinds of entrepreneurs determinedtheirperformanceswithfuture-oriented products and services. Therefore, they are looking for unique idea and element that assists to attain effective resultsattheworkplace.IncaseofSerial entrepreneurship, entrepreneur always makes efforts for generating a new idea or to develop a new business. Serial typology of entrepreneurshipmainlydeals with the development ofinnovativeproducts and services
thatwill help the business to improve the creativity at the workplace.These entrepreneurs identify successful operations to focus on the desired level of performance at the workplace(Chi, Tansuhaj and Sun, 2016).Femaleentrepreneurs:Moreover,thesekindsof entrepreneurs demonstrate their unique idea that helps to develop more significant outcomes and results in the business. Therefore, they are continuously focused on expansion in the international market with possessing effective management skills. Dessislava Bell can be considered as the bestExamplefemale entrepreneurs who founded a product for helping the customers in burningitscaloriesandbecameatopfemale entrepreneur by selling this product to over 1 million people.Lifestyleentrepreneurship:Otherthanabove mentionedtypologies,anothertypeoftypologyis lifestyleentrepreneurshipinwhichtheentrepreneur focuses onworkingforpromoting future development programsthatwill help the businessto attain overall effectiveness.Underlifestyle leadership, entrepreneur makeefforts for handling the riskscan be handled easily andconcentrate on developing the business for to improvethe personal lifestyle that help todeal with innovative functions(Karimi, Biemansand Mulder, 2016).PeterJonesisanexampleoflifestyle entrepreneurshipwhoisconsideredasthemost innovative entrepreneur of the UK.Peter Jones is an entrepreneur who is the founder of various businesses like Wines4Businees.com etc. Discussiononsimilaritiesanddifferencesbetween entrepreneurial venture Withrespecttodemonstratingdifferentkindsof entrepreneurial ventures, it can be stated that followings are different similarities and differences that must be considered to focus on innovative capabilities of entrepreneurs: Structure and size of the business: In a successful entrepreneurialventure,itcanbestatedthatsmall businessdemonstratescustomerdemandand requirements. To compare with large enterprise, SME generallyprovidesauniquequalityofgoodsand services that help to perform functions and operations withseveralnumbersofcustomers.Forexample, Sainsbury, Asda considered their operations in retail
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business so that functions and innovative ideas will be successfully developed in the enterprise. In addition to this,scalableentrepreneurshipventuresizeand structurewhichislessimportantfromanother enterprise.Aims and objectives: With this regard, it can be stated that each enterprise who develop their functions and operations in an entrepreneurial venture have the aim to increasetheirsignificantadvantageswithmore innovative and creative aspects. In addition to this, better work can be promoted to earn high profits and increase market share as well. It helps to identify great similarities and differences in aims and objectives that assists to deal in quality of products and services in large consideration.Sources of finance: There is another difference is in the firmtoobtainfinancewithdifferenttypesof entrepreneurship firms. In this consideration, it can be stated that it is essential for the proper arrangement of the fund and expand operations in new areas of the world. As compare to social entrepreneurs, to focus on the welfare of society and not earn more profitability in the business. Furthermore, in this aspect similarities considered demonstrating unique idea and attain a more desired level of outcomes. Similarities Lifestyle entrepreneurs:These kinds of entrepreneurs require skilled employees and managers as to demonstrate successful human resource management.They possess innovative features to increase revenue and profitability at the workplace. They considered risk capabilities in the business Femaleentrepreneurs:Thistypeofentrepreneurslooks forward to expanding functions in international areas.Female entrepreneurs can be from different backgrounds and have different skills of running the entrepreneur. Difference Lifestyleentrepreneurs:Lifestyleentrepreneursfocuson reward management which helps to encourage different people to enjoy their work. They are also concentrated on lifestyle activities which helps to gain profitability at the workplace. Female entrepreneurs:Number of female entrepreneurs are lessascomparetomale.Femaleentrepreneurismuch concerned with the social factors of the business.
Interpretationandassessmentofrelevantdataand statistics to illustrate how micro and small businesses impact on the economy After Brexit, UK economy and profitability get highly affected. This is because it minimises the growth rate of the business in large consideration. In this regard, it can be stated thatbusinessoperationsandfunctionsreducedealingin different countries. According to the survey, it can be stated that90%oftheprivatesectorgenerallydealsinsmall enterprises that help to continually development and increases the economy growth of the UK. In addition to this, Brexit also impacts on the large enterprise in wide consideration because employment gets reduce which diminish the standard of living ofpeople.Furthermore,bothmicroandsmallbusiness enterprise generates the job offers in the economy of the country.Brexitaffectssmallandlargebusinessesthat generallydemonstratetheuseofseveralinnovationsthat increase profits and revenue of the company. In this manner, it canbedemonstratedthatobstaclesmustremovewith developing operations and functions in different areas of the world(Gielnik,ZacherandSchmitt,2017).Asperthe statistical data, after Brexit, approximately 73% of employment generation has been provided to the economy by small and micro enterprises in the year 2010. Further, due to the implication of tax, the revenue of the Government has also been raised with the success of these entrepreneurs. In addition to this, micro and small businesses helptoacountrytomaintaintheirgrowthrateinlarge consideration. In this regard, it can be stated that the quality of products and services can be successfully maintained which helps to develop innovative functions to focus on increasing different aspects of the business enterprise. Moreover, many businesses are also established in the UK. In the survey, in 2014 there are 5.6 billion emerged with innovates new ideas forthedevelopmentof70%enterprisecoversthatentire market will increase their products and services in international areas. In order to focus on the large aspects of the market, it canbestatedthatthefollowingimpactoneconomy considered: Economypowerhouse:IntheUKmarket,thereiswide development in small and micro business. This is because it considered a number of small enterprises that increase several numbers of services and products in wide areas of the world.
Location: In this consideration, it can be stated that small firms and entrepreneurs find out the best way to promote services and products in different areas of the world. In this context, a business can be easily expanded into different areas of the world to sell products in an online method (Read, Sarasvathy and Wiltbank, 2016).Society: Many people of UK stated that own business started after Brexit so that it assists to increase thegrowthrateofentrepreneurshipventureinlarge consideration. This steps of the population after Brexit resulted in enhancement of self-employment in the economy. Further, they also generated job opportunity in the economy. As per the statistical research, due to the development of a large number of an entrepreneur, the positioning of the economy of the UK also raised in the global market The diverse range of entrepreneurial venture to demonstrate an understandingofentrepreneurshipinthepublicand corporate sector In order to successfully demonstrate entrepreneurship program, it can be analysed that the entrepreneurial ventures have a significant impact over the public and corporate sector. They develop their performances with innovative ideas to start and run their business with resource and planning. It results in enhancement of the competition in the overall market. They are responsible to take risks and reward in several sectors in corporateandpublic.Businessideasusuallyexpandwith different products and services that develop in the existing businessmodel.Theirinnovativebusinessideamakes businesses of both the public and corporate sector to innovate their business operations accordingly. There is a diverse range of benefits generated that helps to increase profitability and significantadvantagesinthebusiness(Ghio,Gueriniand Rossi-Lamastra, 2015). Inpublicenterpriseofentrepreneurshipventure considered a different line of products which increases shares in the stock market. Therefore, it assists to diminish liability with several numbers of staff members with attached in the
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enterprise.Ontheotherhand,inrespecttodeveloping functioninginthecorporatesectoritcanbestatedthat corporate field multinational operations and functions can be successfully expanded that increase specialised products in different areas of the world. Serial entrepreneurs generally focusonthecorporatesectorwhichhelpstodevelop functioningasaninnovatorwhostartstheirbusinessin successful consideration. Criticalevaluationofscope,developmentandgrowthof entrepreneurial ventures In successful operations and functions of the business, it can be stated that entrepreneurial venture generally focuses on the development of operations and functions in innovative aspects. In this regard, more innovative functions ascertained with the development of successful business in different areas of the world (Lima, Lopes and da Silva, 2015). On the basis of innovative aspects, it can be stated that more growth will be determined to focuses on creativeness at the workplace. As a result, it helps to concentrate on overall effectiveness which would help to deal in large areas of the world. In the corporate sectorentrepreneurship,businessesneedtofocusonthe economy to earn more profits and revenue at the workplace. In thisconsideration,thegovernmentplayavitalrolethat encouragesdifferentcorporateandpublicbusinesses.All entrepreneurial ventures continuously expanded their functions that help to operate significant goals. Evaluation of differences small, medium and large businesses makestotheeconomybyusingrelevantdataand statistics INtheUK,small,mediumandlargebusiness contribute their part in following aspects: Smallbusiness:Smallbusinessesaregenerally established with family members and their partners. In the UK around 90% of the businesses are a small business enterprise.They help the economy in the generation of self employment Important decisions are
generally related to the enterprise to take plan strategy in a successful manner. In this regard, in the local marketandtargetcustomerstakeninasystematic mannerattheworkplace.Smallbusinessesare generally useful within the country to increase job opportunitiestopeople(Devece,Peris-Ortizand Rueda-Armengot, 2016).Medium business: Medium scale firms deals in private so that important decisions are undertaken by owners. Generally, all the Plans are successfully established withlongtermeffectivestrategy.Themedium businesses help the economy in the generation of jobs in the market. Large business: Large scale firms are deals in public and follow specific management procedure to manage business activities. In the UK, the number of large businesses is quite small. A large business provides a rangeofemploymentopportunitiesandprofit generation to the economy. In this regard, they play a vital role in the development of the economy. How important small businesses and business start-ups are to the growth of social economy In the UK, small and micro business are considered as the backbone of the company. This is because it contributes to increasing several job opportunities among several people. Start-up develops effective strategy considered planning that increase productivity and profitability (Audretsch and Caiazza, 2016).Smallbusinessesassisttodevelopeconomy performances of the country in large aspects of the market. In this regard, it is essential to work with 250 people and gain more profitable outcomes as well. Beside this, in start-up businesses considered with more than 5-10 employees so that theyareworkingtogethertoattainestablishmentofUK development. Start-up and small enterprise contribute with innovative ideas, adaptability, employment which assists to increase popularity in the large areas (Gielnik, Zacher and Schmitt,2017).Withthisconsideration,smallbusinesses generallyplayanimportantroletodrivemoreeconomic growth. Major importance can be considered in the following manner: Competitiveness: Small and start-up business is useful inthecountry'seconomywhichassiststothe
organisation to maintain competition level in the global marketplace.Inthisregard,itcanbestatedthat differentkindsofsmallbusinessesintheUK successfullydevelopoperationswithusingmodern technologywithinnovativeideasforgrowthand development. In this consideration, more competitive outcomes will be ascertained at the workplace (Schaupp and Bélanger, 2019).Employment: Small and start-up businesses contribute a large part which increases employability in the large areas of the marketplace. In the UK, there are several people get a job which ascertained with employment which increases opportunities in small businesses. Economicgrowth:Smallandstart-upenterprise determined large part in operations and functions which provideseveralresourcesandcompletingdifferent outcomes in the enterprise. In this consideration, more profits and revenue will be generated (Ghio, Guerini and Rossi-Lamastra, 2015).Bill gate has helped a lot in thedevelopmentoftheeconomy.Microsofthas provided huge amount of foreign aids to the economy of America. This has help to improve the health of peoplesofthecountry.J.K.Rowlinghasmade significant contribution to the economy of U.K. through development of Harry Potter series, the investment in foreign currency has increased. Critical examination of the impact of small businesses on different levels of the economy such as local regional and national in an international context Smallbusinessconsideredalargeimpactonthe economy which successfully develops in different ways such as: Local:Smallbusinessestargetlocalareaswith customers to provide the best quality in different kinds of goods and services. Regional: Small business focuses on culture, social and traditional aspects of the communities which assists to provide different kinds of facilities to accomplish needs and maintain a relationship as well. National: Small businesses also deals in national areas of the UK market to increase their business expansion. International: In this regard, small business deals in international areas with export and import facilities. Therefore, many customers are attracted from different
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areas of the world to deal with innovative services and products. It helps to increase significant advantages in business (Lima, Lopes and da Silva, 2015).