Report on Entrepreneurial Venture and there Types
Added on 2020-06-05
18 Pages4193 Words81 Views
EntrepreneurshipPolitical Science
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ENTREPRENEURSHIPAND SMALL BUSINESSMANAGEMENT
INTRODUCTIONEntrepreneurship refers to those process that helps to design and run the new business atfirst in small level with a person who are cheerful and able to take risk. Generally it is a desire toset up a venture or capability to put in innovation with risk to frame profit. This process includesthe accumulation of land, human resource, capital to produce revenue. Entrepreneurship is theessential part of nation's ability to grab success in dynamic and increasing global competitivemarket place (Ackermann, 2012). Small business are those who owned independently andoperates their company and they are small in size or revenue. Small business employees numbersare fewer then 100 workers and revenue is less then $25 million. Due to Brexit some changes arefaced and shown on small business and entrepreneurship. Brexit is defined as the exit taken byBritain from European unions. This report has concern with the entrepreneurial venture and typeswith similarity or difference in them. Example with data will be included to show the impact onsmall business with contribution to growth. Entrepreneurs characteristic, personality and traitwill be discussed. A entrepreneur example will be covers with mind set and motivation alongwith it some factor are the who makes hinder in entrepreneurship. TASK 1P1 Different ypes of entrepreneurial ventures.Entrepreneur: A persons who frame develop and runs enterprise with small resources andfinance also have the responsibility to bear risk or rewards alone in his venture. Entrepreneurship: This is a procedure which help in growth and formation or construction ofeconomic assets and wealth of nation. Entrepreneurial venture: This defines as the institution which places invention andopportunities at its hearts in order to produces social values and economic. Majorly there are fourtypes of entrepreneurial ventures asSmall business: In this phase of entrepreneurship, one and more are coming up withsome idea, plans also with resources to begin their own venture at very small level they decide toinvest but in lower segment they stats this business with expectation of generating the profits.This category may includes the journal stores, tour and travel agency (Blackburn andWainwright, 2013). There approx 5.7 million small enterprise in the UK which build up 99.7% .They can appoint family members to this venture. Small business entrepreneur has definition of1
this as they are just to feed their family members and make s some profits to survival. They tookfund in business via business, family, and friends. Scalable start up entrepreneurship: This type of entrepreneur consider and accept thathis vision may alter or modify this world on some day. They have quality to attract investmentas best venture capitalist and financial investors (Bridge, 2012). Generally they hires the bestone who are able and unstoppable, confidant in business ventures. In order to grab objective andtargets they generally choose scale business modal in which they fond they best option toexpansion and it helps in reducing the cost and expenses. Here the new business set with thetaking current venture to next level and high in growth. Large business: This kind of business are operated as various actions or activities atboard segments to run business as for business development, they do huge transactions. Largeventure are have large life cycles they increase through innovation, offers new thing in marketsthat are differ in market. Some forces are also there in making change in this business venture aschanges in customers demand, new techniques and competitors. Large company are required tomakes sound changes in production. Social enterprises: These kind of business are keeping their concentration on socialvalues as creating services and products which are completing the need to social needs. They tryto match up his goods with expected desires and requirements (Bruton and Li, 2010). Thisventure are included in non profits and profit making organisation, sole proprietors etc. P2 Differences and similarities of different types of entrepreneurial venturesSome differences and similarities between small-business and scalable start ups:Basis of differenceSmall businessesScalable start up Scale This types business are knownas content ventures as they setstheir boundary and they do nowished to expand or mark upin global context.These venture said that everybusiness are made up withaspiration to expand businessand frame big organisation. Funding These kind of venture arecoming with the supports inThese are generally selfinvented and family funded2
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