Impact of Small Medium Enterprise on UK Economy

Social entrepreneurship- These type of organisation are having a motto of creating
a better world through providing social services and basis amenities to deprived or
poor or helpless people. Social enterprises are focused on creating equality in
society and works for upliftment of vulnerable group. Save the children is a type
social entrepreneurship or NGO of UK which is making efforts for betterment of
children and aim at providing a safe environment for survival of children and
creating better education and economic opportunities for them (Gartner, 2019).
Types of typology
A group of people who are having similar characteristics and features are
termed as a typology. Entrepreneurship or entrepreneur can be classified into
various group or typology which are explained below:
Male entrepreneurs- The common features of male entrepreneurs are that
they enjoy taking risk and are always focused towards better growth and
expansion of business venture. Male entrepreneurs are more alert and aware about
recent technological change and keeps on making innovation and technological
improvements in its business venture. Male entrepreneurs mainly deals in large
construction organization or in IT firms where they get better opportunity to show
their skills and creativity (McMullen, 2019).
Female entrepreneurs- These type of entrepreneurs are more conservative and
avoid taking higher risks. Female entrepreneurs mainly operates a small business
and maintain a good relation with its customers and other stakeholders. Females
entrepreneurs are more responsible towards society and always try to fulfil their
corporate social responsibility and works for welfare of society and its
stakeholders (Pages, 2019). Female entrepreneurs are more attracted towards
fashion industry and small retail shops and mainly deals in clothing and other
fashion accessories.