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Small Business and Entrepreneurship in the Micro Economy

   

Added on  2020-06-04

14 Pages4097 Words137 Views
ENTREPRENEURSHIP AND SMALL BUSINESSMANAGEMENT
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Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1...........................................................................................................................................1P1 Types of entrepreneurial projects and their relation to the typology of entrepreneurship.....1P2. Similarities and differences between entrepreneurial ventures............................................2TASK 2............................................................................................................................................4P3 Relevant data and statistics to illustrate how micro and small business................................4impact on the economy..............................................................................................................4P4 Importance of small businesses and business starts-ups to the growth of social...................6Economy....................................................................................................................................6TASK 3 ...........................................................................................................................................7P5 Characteristic traits and skills of successful entrepreneurs....................................................7TASK 4............................................................................................................................................8P6 How entrepreneurial personalities impact upon their mindset .............................................8P7 Foster or hinder entrepreneurship..........................................................................................8CONCLUSION ...............................................................................................................................9REFERENCES .............................................................................................................................11
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INTRODUCTION Different business enterprises uses different strategies to run their enterprise at domesticand international levels. Size of these type of firms are small in respect to large multinationalcompany which are large number of customer attraction and also grab large number of shares inmarketplace (Akehurst, Simarro and Mas‐Tur 2012). In small business enterprise, there areless number of employee working in enterprises, generate revenue, and also small capitalinvestment by owner of small enterprises but these company have good image in marketplace. They sustain reputed position in market place. There are various small scale businesscompany who put their efforts in order to develop their skills and knowledge of employeeworking in company. It aids to begin their business at small scale. UKClould is small businesscompanies which deals with networking business. It provide networking service to differentbusiness companies. Company give qualitative service to various different firms which aids ingrowth of economy of country. Entrepreneurship is process which aids to implement newmethod of business plan, an individual who operates new enterprises are called entrepreneur.TASK 1P1 Types of entrepreneurial projects and their relation to the typology of entrepreneurship.Entrepreneurship is the process of starting a new venture by implementation of new andinnovative methods of planning. It explained the capacity and willingness to develop, organiseand handle business projects (Audretsch 2012). An entrepreneur also bears risk of businessprojects and develop appropriate plan for handle the risk of business firms. Entrepreneurship isthe process which aids to enhance skills and knowledge of employees working in theirorganisation which give positive impact and utilise the source to established business enterprises.Here are some of entrepreneurial projects: Small business entrepreneurial project: These are one who operates enterprises atsmall level. In order to attain goals and objectives of business firms.These small scaleenterprises provide different types of resources to manage various activities of operationsof particular projects in effective manner . These small entrepreneur put their effort inorder to enhance living standard of society, improve economic condition of families andfor running its business to sustain in market place.
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