Impact of Entrepreneurial Issues and Challenges Faced by Entrepreneurs in the UK

This research aims to analyze the impact of entrepreneurial issues and challenges faced by entrepreneurs in the United Kingdom. It explores the basic knowledge of entrepreneurship in the UK, the various issues faced by entrepreneurs, and the ways to deal with these issues. The research methodology includes a literature review and data analysis. The expected outcomes include a better understanding of entrepreneurship in the UK and strategies for overcoming challenges.

Research project proposal
(Impact of various entrepreneurial issues
and challenges faced by the entrepreneurs
within United Kingdom)
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Contents
INTRODUCTION...........................................................................................................................3
Background to study........................................................................................................................3
Rationale.....................................................................................................................................3
Research aim...............................................................................................................................3
Research objectives.....................................................................................................................4
Research questions......................................................................................................................4
Literature reviews............................................................................................................................5
What is the basic knowledge of the entrepreneurship in context of UK.....................................5
What are the various entrepreneurship issues faced by an entrepreneur within an UK?............5
What are the ways and measures for dealing with entrepreneurship issues in UK.....................6
Research methodology.....................................................................................................................7
Research philosophy...................................................................................................................7
Research approach......................................................................................................................7
Research strategy........................................................................................................................8
Research choice...........................................................................................................................8
Data collection............................................................................................................................8
Data analysis...............................................................................................................................8
Expected outcomes.....................................................................................................................9
REFERENCES..............................................................................................................................11
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INTRODUCTION
Background to study
As the entrepreneurship is created because the extraction of the values. Now the definition is
entrepreneurship has been changed over the years because this is generally, related to taking risk
beyond the normal thing in the beginning of the business. This includes the other values of the
simple economic ones (Stroe, Wincent, and Parida 2018). As well as entrepreneurship is the ability
to develop the organisation to run the business in a proper way in relation to make profit in the
business. Now, the further discussion or the research topic is about to analyse the impact of
entrepreneur issues and the various challenges faced by the entrepreneur. Although there are
many challenges faced by the entrepreneurs that is lack of the infrastructure in the facilities that
is required for the development of the entrepreneurship as well as in the means of the
communication and the problems related to the banking system will be discussed in the further
report.
Rationale
As the entrepreneur already knows that aim of starting anything is not an easy task.
Although, this research helps to analyse the various issues that any come in the way of starting
anything. This research also justifies the different benefits that an entrepreneur gets through this
research. As well as before starting anything the proper research is really important to be known
by the entrepreneurs. This report helps in the new and improved offering of the products in the
market place as well as the new technologies used on the market place. This helps to enable the
new market to be developed and also to be focused on the new wealth. However, this research
can also improve the effects of increased in the employment and how the entrepreneurs can
increase their earning after the starting of the new project. As well as the entrepreneur’s
education is also advocating that is to be introduced at every levels of the education related to the
entrepreneurs. As well as the entrepreneurial education and the training provide the particular
individual that what are the abilities to get recognize the business opportunities and the different
knowledge and the skills to achieve that targeted goals and objectives ( Nazari, Zhang, and Cai
2020). This also includes the instruction of the different opportunities of the recognition and to
commercializing the topic as well as to manage the resources and initiate the business new idea
in a proper way (Gudeta, and van Engen 2018).
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Research aim
The aim of this study is “To analyse the impact of the various entrepreneurial issues and
the challenges faced by the entrepreneurs”: A study on UK
Research objectives
 To increase basic knowledge of the entrepreneurship in context of UK
 To investigate various entrepreneurship issues faced by an entrepreneur in UK.
 To analyse the ways and measures for dealing with entrepreneurship issues within United
Kingdom
Research questions
 What is the basic knowledge of the entrepreneurship in context of UK?
 What are the various entrepreneurship issues faced by an entrepreneur in UK.
 What are the ways and measures for dealing with entrepreneurship issues within United
Kingdom?
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Literature reviews
What is the basic knowledge of the entrepreneurship in context of UK
According to the viewpoint of the author (Bacg, 2018) as the entrepreneurship is the
function of setting and own starting of the business. This is different from the working of the
someone else in the business. as well as the entrepreneurs is must to deal with the huge numbers
of the problems and difficulties in comparison to the salaried employees, but if the entrepreneur
will be successful in establishing the venture of the new business then after the payoff may be far
better as well (Hervieux, and Voltan, 2018). This also ensure the basic ideas of the entrepreneurship
in order to do establishment of the business organisation to reach to the certain objectives and the
goals. This also helps to learn the ethics and the fundamentals of the business. The entrepreneurs
are whom that is get idolized by the different leadership qualities. Although, the basic knowledge
describes the ability to analyse or generate the opportunity and take the action that aims to realize
and this also helps to innovate the new ideas and practice to make the product. This knowledge
understanding of the entrepreneurship is different from the traditional economic
entrepreneurship. This have aim to optimise the monetary profit but as well as focuses on the
opportunities related to the fulfilment of the goals and the objectives to improve the production
related to the research and the overall knowledge how the person as a entrepreneur can transform
on order to maximize the monetary profit. This has been argued further about how the
entrepreneurs is facing the logistic issues in the starting phase of the business and how resolve
the issue in a proper way (Hansen, 2019) .As well as in an entrepreneurship the supply chain
management is the human activation spot. The activation spot is from where the item is to be
delivered. Because the less time the product takes to onboard that product the customer are
happy the customer will get. As well as the other logistic problem is the inventory cost money
and the prod cut storage as well as products also needs the special care. Although, this will be an
opportunity for the engineer who are interested to resolve the problems of the logistics.
What are the various entrepreneurship issues faced by an entrepreneur within an UK?
According to the viewpoint of the author (zhu, 2019) entrepreneurs is facing many
challenges in today’s most competitive business world. Although, the entrepreneurs have also
many resources in comparison to before to tackle the problems related to their business. There
are following challenges faced by the many of the entrepreneurs today. There is the challenge of
the cashflow management faced by the new business because many of the entrepreneurs is
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struggling from paying to the bills. Due to they are waiting for the arrival of their checks. This is
the part of the delayed invoicing. This is the most common problems faced by the entrepreneurs
because. This is the time where entrepreneurs have to pay everything for the employee or the
contactors of the business in relation to the mortgage of the grocery bill. Therefore, another
strategy for improving the cash flow to need the faster invoice payments. This has also the
meaning if the customer is become late from their payment. They have proper two weeks to
address it and get the payment before the next month’s bills are in pending. However, more and
more companies need the fastest payment upon the project completion (Crawford Kelder, J and
Knox, 2020). But now, in the digital era customers can pay the invoices from their mobile
phones. This is not to be forced for the immediate payment. After these things the second
challenge is hiring the employee because the hiring process can take the several days for the new
business. Due to reviewing the resumes and sitting through the interviews with the unqualified
candidates. As well as the time management is might be the biggest problems that is being faced
by the entrepreneurs. If the entrepreneurs have more time. This could accomplish for the
company more and more. As well as the problems are related with the supply chain because this
can increase the cost of the entrepreneurs, the supply chain also includes the multiple channels to
the market as well as drive the needs of the consumers for improve in the speed of delivering the
products quality and service as well as.
What are the ways and measures for dealing with entrepreneurship issues in UK
According to the viewpoint of the author (stroe, 2018 )every entrepreneur has any of the
ideas that will proved great for the business. This looks to be the disruptive and innovative for
the force in order to build their name in the market place. If this will easy, this will be sure the
start-up rates will be easy and the start-up failures is increased by 90 percent. There are several
reasons for the failure of the entrepreneurial business plan that includes the bad hiring and he
ineffective execution of the plan these are the only challenges. This problem is not much more
difficult to solve, but this only need the right attitude and the mindset to do the start-up and come
out as the successful entrepreneur (Wang, 2019. ). Therefore, the international best-selling author
mc gill has built their company reminders and now a days the MCGILL is the besets top social
media influencers within the world. there are many solutions recorded to solve the problems of
the entrepreneur that is to be focused on building the network because many of the entrepreneurs
has to focus on themselves and their personal visions but the biggest job is to inspire the other
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team mates. Because the social media is the first and the foremost to be-social. As well as to be
respectful towards the others in the organisation because this proves that every business
transaction helps to builds the relationship that needs the thoughtfulness and respect that is
related to the universal currency that is accepted everywhere in the world. The who treats other
with the respect will always be the wealthy businessman because the community is the real
benefits and the currency of the business.
Research methodology
This is very basic techniques that will be used for the selection of the process to analyse the
various information and the statistics in order to analyse the information of the specific topic
(Anambane, and Adom, 2018). This actually helps the researcher to understand the whole study on
the Basis of reliability and the validity. This collection of the data has the various impact on the
data management.
Research philosophy
There are two types of research philosophies i.e. positivism and interpretivisim.
According to the current research project, interpretivisim will be a useful philosophy for
researcher because it helps in gathering and evaluating of secondary and qualitative data within
minimum time. This is basically to help the process of the research and to collect and gather the
data as well as the assessment of the data. This is the creation and development of the techniques
and the knowledge that is related from the collection of the data. For the conduction of the
research on the recent investigation of the impact of the entrepreneurship in various areas by
which proper information is collected. Therefore, according to the current project, interpretivisim
will be a chosen research philosophy.
Research approach
There are two effective approaches of research i.e. inductive and deductive. For
analysing or evaluating data about the impact of various entrepreneurial issues and challenges
faced by the entrepreneurs, inductive approach will be chosen by researcher. As it helps in
evaluating of qualitative and secondary data in minimum time. This consists of the plans and the
procedures that is related to the various steps and along with this there are various assumptions
of the collected data and the information. In order to this consideration the researcher has used
the deductive approach of the research that is more sufficient and suitable for the data also this
includes the quantifiable use of information that helps to achieve the desired goals of the
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research aims and objectives. Thus, inductive approach will be chosen for conducting
dissertation in successful manner.
Research strategy
There are different types of research strategies such as survey, action research,
experimental, case study etc. All these are main strategies but in accordance to the current
research, case study will a chosen research approach for researcher. This includes the adequate
information in which under the data is collected by the conduction of the research. This also
guides the researcher to plan, monitor, study and determine the study in systematic and the
effective manner (Figueiredo, and Franco 2018). This also offers the high level of the guidelines
and the various instructions. Therefore, within a research, case study will be a selected research
strategy for collecting secondary information from books, articles etc. sources.
Research choice
This contains the various information in which the data is collected in order to conduct
the successful research. This describes the level of the participation that makes sure about the
collection of the data that includes the strong level of the satisfaction of the safety and the
responsibility in the purpose of the research. There are two types of research choices such as
qualitative and quantitative. In accordance to the current research, qualitative research is a
chosen choice. Main purpose for selecting qualitative research is it provides in-depth information
from secondary sources i.e. books, articles, magazines etc. sources.
Data collection
In this research the study, the data can be collected by using the two methods of data
collection that includes the primary and the secondary research (Alrawadieh and Alrawadieh,
2018). Primary research includes the completely new data and in the secondary researches the
already collected data. Therefore, within a current research, secondary method of data collection
will be used for achieving each objective of the dissertation in successful manner. There are
different sources of collecting secondary data i.e. peer reviewed articles, books, journals and
many others.
Data analysis
Within an investigation, secondary data will be gathered from books, journals,
publication research and many other sources relevant to the existing topic. In order to analysis
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secondary data about the impact of various entrepreneurial issues and challenges faced by the
entrepreneurs, thematic analysis will be used by researcher as an analytical technique.
Expected outcomes
This research has several outcomes that this helps to justify the problems of the research
related to the impact of entrepreneurship as well as what are the solution of the problem (Morris,
2021) .The researcher will also aware from the different ways of applying the things in supply
chain management problems facing by the entrepreneurs in the starting business. As well as this
also includes the several methods of dealing the entrepreneurship issues in order to analyse and
solve the particular problem.
Time line for completion.
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Submis
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researc
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Comple
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researc
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Collect
second
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sources
of
informa
tion for
researc
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project
Complete
research
methodology
and collect
primary and
secondary
sources of
information
Comple
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collecti
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for
study
and
present
the
result
Determ
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Budget
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Data
Interpre
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and
analysi
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Evaluat
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results
and
finding
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Comple
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report
and
submit
the
final
report
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REFERENCES
Books and Journals
Alrawadieh, Z. and Alrawadieh, Z., 2018. Exploring entrepreneurship in the sharing accommodation
sector: Empirical evidence from a developing country. Tourism Management Perspectives, 28,
pp.179-188.
Anambane, G. and Adom, K., 2018. Assessing the role of culture in female entrepreneurship in
contemporary Sub-Saharan society: Insights from the Nabadam district of Ghana. Journal of
Developmental Entrepreneurship, 23(03), p.1850017.
Bacq, S. and Eddleston, K.A., 2018. A resource-based view of social entrepreneurship: How stewardship
culture benefits scale of social impact. Journal of Business Ethics, 152(3), pp.589-611.
Crawford, J., Kelder, J.A. and Knox, M.W., 2020. What does it take to be a social entrepreneur?:
Authentic leaders and their effect on innovation. In Leadership styles, innovation, and social
entrepreneurship in the era of digitalization (pp. 282-310). IGI Global.
Figueiredo, V. and Franco, M., 2018. Wine cooperatives as a form of social entrepreneurship: Empirical
evidence about their impact on society. Land Use Policy, 79, pp.812-821.
Gudeta, K.H. and van Engen, M.L., 2018. Work-life boundary management styles of women
entrepreneurs in Ethiopia–“choice” or imposition?. Journal of Small Business and Enterprise
Development.
Hansen, B., 2019. The digital revolution–digital entrepreneurship and transformation in Beijing. Small
Enterprise Research, 26(1), pp.36-54.
He, J., Nazari, M., Zhang, Y. and Cai, N., 2020. Opportunity-based entrepreneurship and environmental
quality of sustainable development: A resource and institutional perspective. Journal of Cleaner
Production, 256, p.120390.
Hervieux, C. and Voltan, A., 2018. Framing social problems in social entrepreneurship. Journal of
Business Ethics, 151(2), pp.279-293.
Morris, M.H., 2021. Poverty and entrepreneurship in developed economies. In World Encyclopedia of
Entrepreneurship. Edward Elgar Publishing.
Stroe, S., Wincent, J. and Parida, V., 2018. Untangling intense engagement in entrepreneurship: Role
overload and obsessive passion in early-stage entrepreneurs. Journal of Business
Research, 90, pp.59-66.
Wang, Q., 2019. Gender, race/ethnicity, and entrepreneurship: women entrepreneurs in a US south
city. International Journal of Entrepreneurial Behavior & Research.
Zhu, L., Kara, O. and Zhu, X., 2019. A comparative study of women entrepreneurship in transitional
economies. Journal of Entrepreneurship in Emerging Economies.
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