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Small Business and Entrepreneurship

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Added on  2020-12-29

Small Business and Entrepreneurship

   Added on 2020-12-29

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SMALL BUSINESS ANDENTREPRENEURSHIP
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Executive Summary Report has highlighted the scope, size and growth of various types of entrepreneurship ventures.It has also focused on how the entrepreneurial personality traits. Communication and honesty hashelped the entrepreneurs in achieving success. There are various traits which differentiateentrepreneurs from various other business managers.
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ContentsINTRODUCTION...........................................................................................................................1MAIN BODY..................................................................................................................................1P1. Examine different types of entrepreneurial ventures and explain how they relate to thetypology of entrepreneurship......................................................................................................1P2. Explore the similarities and differences between entrepreneurial ventures Similaritiesbetween the Entrepreneurial ventures..........................................................................................3P3. Interpret and assess relevant data and statistics to illustrate how micro and smallbusinesses impact on the economy..............................................................................................4P4. Explain the importance of small businesses and business start-ups to the growth of thesocial............................................................................................................................................6economy.......................................................................................................................................6P5. Determine the characteristic traits and skills of successful entrepreneurs thatdifferentiate them from other business managers.......................................................................7P6. Determine the characteristic traits and skills of successful entrepreneurs thatdifferentiate them from other business managers.......................................................................8P7. Examine, using relevant examples, how background and experience can hinder or fosterentrepreneurship..........................................................................................................................9Conclusion.....................................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTION Entrepreneurship can be defined as process of designing, launching, running business whichis new in market. An entrepreneur shows willingness to set up a new business by implementingsome innovative ideas. This report contains various ventures and their typologies. Furthermore, ithighlights differences between these ventures alone with their similarities. It shows the relevantdata how small firms contribute in economy and social economy. This report explains skills ofentrepreneur and their characteristics. In addition, study describes impact of background onfoster or hinder entrepreneurship.MAIN BODYP1. entrepreneurial ventures and related typology Entrepreneur An entrepreneur can be defined as the sole persons those who believe in running businessas owner of firm, willing to take the risk to make his business sound. Entrepreneurs are theinnovators of the society as they have bundle of innovative ideas in different sectors. Example ofentrepreneurs are Richard Branson who has founded the Virgin Group.EntrepreneurshipIt is an act through which person can start new business with a motive to earn profit. Thepeople who start this type of business are known as entrepreneurship.Entrepreneurial VentureThey are the person who starts their venture with the limited resources and planning andthey are the one who is responsible for all the risks associated with the venture. They do not starttheir venture with existing business model.Enterprise An enterprise is a very small business, but they have a vision to do a new and innovativebusiness and have the courage to implement. Example of enterprise is new start up business.Typology of entrepreneurshipLarge EntrepreneurshipThe term itself means the business operates at the large scale with the concept ofcorporate entrepreneurship. These enterprises generally believes in the development ofinnovative ideas and opportunities on the large scale. They have 500 or more employees..Example of large industries are Tesco, HSBC holdings, Aviva etc. Small Entrepreneurship
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