Unit 9 - Entrepreneurship & Small Business Management

STUDENT ASSESSMENT SUBMISSION AND
DECLARATION
When submitting evidence for assessment, each student must sign a declaration confirming
that the work is their own.
Student name:
Umer Sohail
Assessor name:
Salman Rabbani
Issue date:
16th APR 2021
Submission date:
7th JUN 2021
Submitted on:
7th JUN 2021
Programme:
PEARSON BTEC HIGHER NATIONAL DIPLOMA IN BUSINESS (RQF)
Unit: 09. ENTREPRENEURSHIP & SMALL BUSINESS MANAGEMENT (LEVEL 4)
Assignment number and title: THE FIRST OF ITS KIND ENTREPRENEURIAL VENTURE
Internal Verifier : Muhammad Ali Iqbal Raja
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TASK 01
PART 01
Entrepreneurship:
Entrepreneurship refers to the process of establishing and operating a new business for the purpose of
profit by investing the necessary time and energy and assuming all risks, difficulties and financial issues
to create products that are valuable to people. Furthermore, entrepreneurship is actually controlled by
entrepreneur who organize a business venture and assumes the risks for it.
Types of Entrepreneurship
1. Large Business Entrepreneurship:
As the name showing large business entrepreneurship stands for large scale firms and
organizations that have been started with massive investment. In case of large business they
have big market shares, they change to new trends, create new products, build new teams, they
have finite life cycles and make disruptive innovations.
2. Small Business Entrepreneurship:
A small business entrepreneurship means the type of business that starts up with small amount
of investment. These are the some features of small business entrepreneurship such as it is a
small scale firm, they have small market shares, they are anyone who runs his/her own business
and their aim is only to succeed as much to feed family and earn profit.
3. Social Entrepreneurship:
Social entrepreneurship means the approach any single person or a group of person to ignite or
start up an organization or entrepreneurs who grew up with them and applied solutions to solve
social, cultural and environmental problems. This type of concept can be applied to
organizations of all sizes, goals, community values, and beliefs.
4. Imitator Entrepreneurship:
The imitator entrepreneurship is the one in which the entrepreneur copies the ideas the other
and wants to prove himself because he/she aims to make certain type of products and services
which could be much better and profitable.
5. Scalable startup Entrepreneurship:
Scalable startup entrepreneurship means the type of entrepreneurship in which the
entrepreneurs establish their businesses with the belief that their vision has the potential to
change the world. They attract investment from equally insane financial investors known as
venture capitalists.
. HERE WE HAVE A SINERIO OF TWO COMPANIES AND WE HAVE TO EXPLAIN THE
SIMILARITIES AND DIFFERENCES AMONG THEM BY RELATING THEM TO ENTREPRENEURSHIP.

COMPANY A: McDonald’s
Located in the heart of McDonald’s, McDonald’s is an American fast food chain and one of the
largest fast food chains in the world, famous for its hamburgers. In fact, it is a limited liability
company. Its headquarters are located in Oak Brook, Illinois. The first McDonald’s restaurant
was founded in 1948 in San Bernardino, California by brothers Morris and Richard McDonald.
McDonald’s initially focused on its hamburgers, fries and cocktails, and sold them at half price
from competing restaurants. From the world famous fast food restaurant. In 1937, the
McDonald's brothers opened their hot dog kiosk for the first time and entered the restaurant
industry as a team. In 1940, they opened a barbecue restaurant in San Bernardino, the first
McDonald's in the world.(www.wikipedia.com)
After that, they began to sell barbecue accessories, and eventually the McDonald brothers
transformed their restaurant into a hamburger and smoothie restaurant in 1948, hailed as the
inventor of the modern fast food model. They continued the selling of their hamburgers by
changing the selling services into modernizes and becomes famous all over the world. Now they
have massive market shares and large amount of shares in worldwide stock exchange the stack
holders buy their shares and get profits and losses by decreasing and increasing in the points of
stock exchange shares. (www.wikipedia.com)
We can relate the McDonald’s with Innovative Entrepreneurship because of their starting up
from a small business and with the passage of time becoming a large business of within the
globe. The most important thing on the behave of becoming the world famous fast-food
restaurant is thinking of an entrepreneur because they have started the business with the
unique idea in a small place but with an aim of becoming a large one and successful they did it.
Now the McDonald’s have worldwide branches and when the people desired to eat fast-food
the first name comes is McDonald’s. (www.wikipedia.com)
COMPANY B: Subway
Subway is an American fast food restaurant. It’s a private limited company. It’s also known as
Doctor’s Associate Inc. It was founded by the 17-year-old Fred DeLuca and financed by Peter
Buck in 1965 as “Pete’s Super Submarines’’ in Bridgeport, Connecticut. The restaurant renamed
to Subway two years later, and a franchise operation began in 1974 with a second restaurant in
Wallingford, Connecticut. (www.wikipedia.com)
Moreover, it is one of the fastest growing franchise in the world and the reason behind its fame
is slogan they used “Eat Fresh”, and focused on how its sandwiches were made from the freshly
baked bread and fresh ingredients, in front of customers to their exact specifications, by
employees which subway called “Subway Sandwich Artists’’. Furthermore, subway servers an
array of topping choices, allowing the customers to choose which toppings they want on their
sandwich. These are some reasons behind their success. (www.wikipedia.com)
We can relate the Subway with the Innovative Entrepreneurship because the founder started
the business in small area to serve the people with fresh submarine sandwiches but soon people
started liking it too much and the SUBWAY becomes a brand a famous one in the globe.
DISSIMILARITIES
Following are some dissimilarities among both companies:
. McDonald’s is public limited while Subway is private limited company.

. McDonald’s is Innovative Entrepreneurship while Small Scale Entrepreneurship.
. McDonald’s is known for his hamburgers while Subway is known for its sandwiches.
. McDonald’s have public shares in stock exchange while Subway have private shares.
SIMILARITIES
These are some similarities between both companies:
. Both companies didn’t compromise on quality.
. Both are fast food product making companies.
. Both of companies are innovative.
. Both companies are founded by founders.
. Both of the companies are started from a small area.
PART 02:
. Scope and Growth
In Pakistan there is not any support of new generation to startup new business that’s why
the scope is not too much as compared to other countries. As all we know to initiate any
entrepreneurship a support is needed both financially and morally but there is lack of both
of these things. No doubt some of people start their new business with new ideas but they
can’t lead to success because of many problems and hurdles like tough government
policies, no back support, no motivation and at last they failed and never came back to
start the new business. All these points shows that there no scope and growth of startup
business. Nowadays, in Pakistan entrepreneurship is increasing at a great rate, if we discuss
about the statics of startup then since 2015 there is about 720 entrepreneur arises in which
the 62% are still active. The successfully working businesses rate is 20% and remaining are
still in struggling phase but if after sometime they remain determined the rate of success
will be 50% to 70%.
However, there is world of internet and the countries are very advance in this field so by
Keeping in view we should develop different programs like free lancing, web designing etc.
through which we can earn enough money and we should support our family financially. So
the Pakistani government should focus on the scope and growth of startup new business
for this they give less trust loans and make favorable economic policies.
. Statistical Data on the behave of Startup Business
Pakistan’s economy has been on ventilator. But the new developing economic program are
effecting very fastly due to which many new peoples have started the new businesses but
the amount of venture capital invested in the startup ecosystem appears to be small.
Given this, I decided to look at some of the most well-funded startups in Pakistan, and they
have all succeeded in raising massive sums of money. Some of these are the successful
startup entrepreneurship which had contributed to much in the Pakistani economy:
1. Zameen.com ($29 million)

Zameen.com, founded in 2006, is Pakistan's most well-funded startup. It was co-founded by
two brothers, Zeeshan Ali Khan and Imran Ali Khan, and allows you to invest, buy, sell, or
rent properties in all of Pakistan's major cities. (www.startup.pk) (enterpreneurship, 2018)
2. Airlift ($24.2 million)
Airlift, an app-based transportation service provider, allows commuters on fixed routes to
book rides on luxury buses. Usman Gul and Ahmed Ayyub founded it in 2018 to fill a void
left by Uber and Careem in Pakistan. (www.startup.pk)
3. Inov8 ($5.4 million)
Inov8, Pakistan's most well-funded Fintech startup, is a B2B payment solutions provider
specializing in e-commerce, mobile banking, and branch banking. Bashir Sheikh and Hasnain
Sheikh founded it in 2004. (www.startup.pk)
As all we know, whenever there is a success definitely there is a failure. There are many such
examples of startup business which failed due to some reasons and never seen back in the
field such as follows:
1. All secure
Technolosys employees created one of Pakistan's first mobile security applications. The app
was released to the Android market and received some installs. Then, due to complications
between the founders, a conflict occurs, dye to which it falls and does not return.
2. Savaree
Savaree, which launched in 2014, was one of the first few ride-sharing platforms in
Pakistan. This startup, which was inspired by carpooling, had a good sense of direction and
was able to get acceleration at Invest2Innovate in 2014. Then a Middle Eastern company
called Careem bought it, and Savaree said goodbye to its fans.
3. Parlor Buzz:
Parlor Buzz is an oniline web site that provides information about the parlors to the
womens. It remained working for some years and has provided vast amount of info to the
womens but this website is not working yet and no activity has showed on it since 2015.
These all are some examples of the failed startup businesses which failed due to many
reasons and never grow up back in to field.
PART03:
D1:
Following are the four forms of business structure and their relation with McDonald’s
are discussed below:
1. Sole Proprietorship:

A sole proprietorship is defined as an individual entrepreneurship or sole trader that is owned
by a single person only and all the losses and profits are related to that single person. It is also
known as a simple and easiest type of business because of lack of government rules and
regulations. There is only one-way communication between owner and employees. It has no
hierarchy structure of management. This type of business is easy to start because it doesn’t
require any type of approvals. So, McDonald’s cannot be relate with this business structure. In
Pakistan more than 60% traders are sole proprietorship. The examples of this type of business
are Ahmad fabrics, TECH traders etc.
2. Partnership:
A partnership is a simple arrangement between two or more investors and parties to operate
and manage business. In this business all the investors and shareholders will bear loss and
profits. It’s a legal business entity but not compulsory have to be registered with government.
This business has a simple management structure and no hierarchy structure is present.
As we know McDonald’s is a corporate business so that’s why it cannot be relate with this
business form. Partnership business has examples such as Unisons International, Fauzia Law
Associates etc.
3. Limited Liability Company:
Like a corporation, a limited liability company has a separate and distinct legal identity. Limited
liability companies are even flexible when it comes to taxes because they registered with the
state so any in case of any loss the government will also bear it with the owner. They have a
proper hierarchy structure of management. There are proper management departments and
check and balance of everything. But McDonald’s is not related to this type. In Pakistan there
are many examples of this type of companies like Vasseh networking services LLC and Trade N
Tech LLC.
4. Corporation Company:
Corporation Company is a type of business structure that contains its separate entity. The
corporation company has all legal rights to work as an individual. This type of companies has
stakeholders and shareholders for its profits and managed by group of persons known as board
of directors. It also be a public organization working without any profit.
This type of companies has a complex working structure. There is specific and defined
departments for different working. There may be single owner or a group of partners in this
corporation. McDonald’s is a corporation company we can relate it with this type of business
structure. (www.wikipedia.com)
McDonald's is the world's leading restaurant organization. System-wide revenue exceeded
US$40 billion. Due to their better hierarchical structure, they own approximately 30,000
restaurants. McDonald's global hierarchical structure covers all its businesses around the world.
The McDonald’s company uses 3 different structures between its activities, the functional
structure of the company itself, the departmental structure of the restaurant and the
geographic structure of the global market. We can say that the McDonald’s structure as a
complete matrix structure manages all these structures in the following way management.
Board members include the president and regional directors, including the chief financial officer,
then managers, assistant managers, department managers, team members, and then workers.

Following is the organizational chart of McDonald’s: (www.wikipedia.com) (history)
McDonald’s have a top down instruction where the bracnh manager’s office wpuld relay
information to the unit managers and then to workers. In McDonald’s the communication is
done online through email which is then printed by line managers and instructed to the workers
to follow them. The subway is also a corporate company but it has different hierarchy structure
as compared to McDonald’s. (www.wikipedia.com)
. Explain using your business how different functions of organizational are limked together and
depend on eachother.
Taking McDonald’s as an example we can easily relate its organizational functions. McDonald’s is
a large organization and that’s why it has numerous functions. The most important
organizational functions are divided into operations, marketing, finance, customer care, human
resources, information technology and warehousing. The whole of the functions are carried by
specific department who is assigned to do that function. The marketing department work for the
advertisement of the new deals and offers by the company. The operation and marketing have a
great value for the company and for this expert persons are assigned to do this job. The amount
and income required for the marketing and management is managed by the finance
department. The operation department work with finance department to manage payment and
ordering of supplies needed for McDonald’s to produce its products. They also work with
finance department and keep the check and balance of all functions. Then the IT department
work for the McDonald’s to change its technology with the world so that they can compete. So,
this whole explanation shows that every function is linked and depends upon each other.

TASK 02
PART 01
HEADING 01
. SUCCESSFUL ENTERPRENEUR:
INTRODUCTION
The famous spice making company Shan foods was founded by Sikandar Sultan in 1981. Sikandar Sultan
is one of the successful entrepreneur. Firstly, Shan foods was founded as a cottage industry but Sikandar
Sultan have the abilities of innovation because there are hidden qualities of entrepreneur in him and he
applied them that why he is known as the successful and talented entrepreneur of Pakistan. The all
thing behind it are some of these characteristics and skills discussed below which he adopted in his life:
1. Characteristics:
Following are some important characteristics of an entrepreneur:
. Motivation:
Entrepreneur are by nature motivated. They spend a lot of time to achieve there ventures off.
They do all these things by keeping in mind that it may takes months or years to get its fruit. They
are working very hard but they know that their efforts won’t be rewarded with material success. So,
a strong motivation is needed to achieve their ventures. This is the thing which Sikandar Sultan
adopted to achieve this stage of success despite of the problems and fear of failing he remained
motivated to achieve his venture.
. Vision:
The best entrepreneur always has a clear vision because they are very strict to achieve there aims or
objectives. Their vision acts like a compass that points them in the direction of opportunities that
perhaps no one else has found.
Sikandar Sultan is the best entrepreneur and he has a clear cut vision as we discussed required in
achieving the objectives and he achieved it.
. Confidence:
As all we know without confidence all is vain. Entrepreneur is without confidence or self-belief,
cannot possibly succeed. So, the entrepreneur always beliefs on themselves and never confused
towards there ambition or objective either they had to face the hurdles. Similarly, Sikandar Sultan
faces many hurdles and took many risks but he remained confident.
. Passion:
Passion is another characteristics of entrepreneur. The thing which helps entrepreneurs to
stay awake late-night for hardworking is the passion of that person. This passion or drive also
sustain entrepreneurs during periods where discouragement might otherwise manifest itself. This
passion causes the Sikandar Sultan to become one of the big exporters of Pakistan and exporting
products to over 50 countries.
2. Skills:
Following are the skills of entrepreneurs:
. Communication:

Every business owner needs to be an effective communicator. Whether a person is a sole
proprietorship or a Fortune 500 company, they need to understand how to communicate
effectively with all business-related and potential stakeholders. (www.investopedia.com)
(TARVER, 2021)
. Sales:
The most important skill any business owner should possess is sales. As an entrepreneur, that
person should be able to sell anything. Entrepreneurs must promote business ideas to potential
investors, products or services-customers and employees themselves. (www.investopedia.com)
. Focus:
Because the path of an entrepreneur is riddled with ups and downs, the main point of every
success is focusing. As a result, a successful entrepreneur must maintain the focus required to
keep an unwavering eye on the goal and push himself to achieve it. (www.investopedia.com)
 Comparison of skills, characteristics b/w entrepreneur and manager:
Entrepreneur is a one-man show for running a business. On the other hand, the manager is
not the owner of the company. Entrepreneurs have foresight and assume all financial risks.
At the same time, managers work for salaries and don't have to take risks. Entrepreneurs
focus on entrepreneurship and business development, while managers focus on the
continuity of daily business. Achievement is the key motivation of entrepreneurs, but the
motivation of managers comes from the power of their positions. Entrepreneurs and
managers-this is their position in the company.
HEADING 02
. ENTERPRENEURIAL MIND SET & MOTIVATION:
An entrepreneurial mind set is a set of abilities and skills that enables anyone to recognize and
capitalize on opportunities, overcome and learn from setbacks in success. According to the results of
many researches it is known that entrepreneurial mindset is valued by employers, and is very fruitful
for creating new business a successful. Every entrepreneur has always a clear and defined mindset
of anything which he or she wanted to achieve. The entrepreneur believes strongly in their ability to
succeed and influence their own outcomes, allowing them to take control of their lives.
Entrepreneur always faces many hurdles and problems while achieving their aims but they never
frightened from anything because have defined goals that keep them focus on the future and as
result they remain motivated. This type of motivation drives them to be self-directed, action-
oriented and highly engaged to do hard work for the success of their business. Furthermore, in the
world every person starts his/her hard work with some vision and passion similarly entrepreneur
also starts their business with some vision and passion and all these qualities of the entrepreneur
make them successful for their business. These are the actually characteristic of the good
entrepreneur because they have big dreams and they are always ready to sacrifice everything to
achieve the success.

HEADING 03
. Argumentation on “entrepreneurs born or made?’’:
To some extent, it can be considered that entrepreneurs are born but the truth or reality is that
entrepreneurs are made. Entrepreneurs, unlike athletes, do not require a natural inherent body and
muscles. An athlete's child may grow up to be an athlete, but this would not happen in the family of an
entrepreneur. However, entrepreneurs are nurtually made not naturally made. So, the entrepreneur
title is not specific for anyone everyone could be an entrepreneur but there are some qualities, trainings
and qualities that results as a successful entrepreneur. The most important quality is innovation, which
does not occur naturally. Innovation means the idea you are going to introduce is never given before it.
After all, the sense of innovation is not born naturally; it is a result of opportunities. There is always an
opportunity when there is a problem. The second quality of an entrepreneur is experience, which is
derived from posteriority. The third entrepreneurial quality is knowledge, which is not innate but must
be acquired through education. So, all this brief discussion shows “entrepreneurs are not born but are
made’’. There are many examples of successful and unsuccessful entrepreneur but some are following:
. Bill Gates
. Henry Ford
. Steve Jobs
. Elon Musk
. Walt Disney etc. (www.inc.com) (KIM, 2015)
HEADING 04
. Effect of Micro and Macro Factors on objectives and decision making:
These are two factors in the organization environment; micro and macro that has a great effect on
the objectives and decision making. The brief discussion is discussed below that how they influence
in the decision making:
1. MICRO FACTORS:
Micro factors are those which is in direct contact with organization and affects the daily
activities of the organization at different levels. It includes those factors that directly effect on
the progress and performance of the company. Following are the factors of micro environment:
. Suppliers:
The suppliers can have a great effect on the business success and any decision making when
they hold power. The suppliers have a basic importance in the delivery network. They fulfill and
provide the company with raw materials which are very necessary for the smoot running of the
company. So, if they supply raw materials on time then ultimately products will produce at time
and then suppliers will deliver them to customers at time. This shows that any late from the
suppliers will gives a damage to company so any decision and objective depends greatly on
suppliers.
. Employees:

The employees are the main assets of the organization because they are directly and indirectly
involved in the business. They are actually working for them but correspondingly they are
benefiting the company by working to fulfil the objectives of the company. The employees
remain loyal with the company when the company provide them with favorable facilities and
good salary packages. So, every company will make decision by keeping in mind that their
objectives depends on the employee’s loyalty and determination.
. Customers:
The most important actor’s in the company micro environment are their customers. The whole
targets of the delivery directly depend on the customers because the company is either making
large number of products they all are in vain until the customers will buy it. So, the customers
will provide the company with money and as a result the company will able to achieve its aims.
Simultaneously, the company will make the decisions of the product prices and quality that will
attract the customers to buy their products.
. Competitors:
Competitors are the rivals who fight with company or organization in market and resources as
well. So, the marketing concept is if the company wanted to be more successful than its
competitors he will have to more values and satisfactions to its customers. The competitors will
adversely effect on the success and decision of the company because both of them wanted to
attract more customers to buy their products to achieve their desired targets.
. Shareholders:
The shareholders are the persons who have invested in the company. So, if the company is
benefited he or she is also benefited and if the company have he or she will also bear it. So, it is
evident that shareholders make the decisions as owners and the directors because he or she
have equal rights to make decision for the company. The company cannot make the decision to
be apply until shareholders are not agreed with that decision.
2. MACRO FACTORS:
Macro factors are the major external and uncontrolled factors that effect on the decision
making of the organization. The macro factors are discussed below that how they effect on the
decision making and objectives of the company:
. Political:
The political factor in important part of the business which bring any business to the ground. A
political environment of any country will promotes, encourages and control the business
activities of that country. So, if the company wants to be successful they have to make the
favorable decision which could meet the rules and regulations of the political system of that
country.
. Social:
The social factor is comprised of the perspectives, wants, assumptions, levels of knowledge and
schooling, convictions and customs of individuals in a given gathering or society. Social cravings,
assumptions and pressing factors bring about laws thus impact the business. So, keeping in mind
all the requirements the company will make the decisions.
. Technology:
Technology is changing day by day and bringing changes at every level. The technology is also
used in organization for different working both domestically and internationally. The companies

are changing their old technology machines with the new technology machines this which shows
that the technology has a great impact on the company’s success. Furthermore, the companies
with latest technology will achieve their task more efficiently and in time as compared to the
one with old technology. So, the objectives and decision made by any company should meet up
the latest technology.
. Economic:
Economic factor means the decision about the money. All economic decision of any organization
involves accounting information of that organization and the economic conditions of that
country because any business rely on the economic condition and demands of that country. So,
the economic factor will effect on the development and decisions made by the company.
HEADING 05
. PERSONAL BACKGROUNG OF ENTREPERNEUR IN THE SAME FIELD:
In entrepreneurship the personal background has very important value. Khalid Awan amazing
entrepreneur of Pakistan founded the TCS courier in 1980s but actually didn’t belong to this field. He is a
flight engineer by profession but he is not satisfied with it and wanted to find something as a new career
because he had the qualities of entrepreneur. So, it’s clear that it didn’t matters if someone’s want to be
entrepreneur he/she have a personal background to the same field. But if someone’s had a personal
background it would be great edge for its entrepreneurship.
TASK: 03
HEADING 01
INTRODUCTION:
As all we know economies are the basic needs of the country’s. Entrepreneurship is critical to the
economic development of a country because it is a key contributor to innovation, product improvement,
and the reduction of unemployment and poverty. As all we know micro or small businesses account
about 60 to 70 percent jobs of the countries like China, UK, USA, UAE, Japan etc. The importance of
small or micro businesses in the country’s economy is proved and documented all over the world.
According to Lied Holm and Mead, the small businesses are an efficient producer that contribute an
important dynamic force in the economy as it contributes significantly to desirable expansion of output
over time. Furthermore, small business sectors are one of the most prolific source of employment.
IMPACT OF ENTREPRENEURIAL VENTURES ON COUNTRY’S ECONOMY:
The entrepreneurial ventures have a great impact on the economy of every country. At a glance, small
businesses play an important role in the economy. It is worth noting that 99 percent of businesses in
developed economies are small businesses that employ half of the workforce at any given time (Bennet,
2008). According to Audrestch (2012), there are 4.8 million small businesses in the United Kingdom
alone. (businessperspectives.org) (economy impact, 2019) It showing that the number of peoples get
employment through small businesses. Entrepreneurship is important for a variety of reasons, including
promoting social change and driving innovation. Indeed, some of the most developed countries, such as
the United States, have made significant advances in entrepreneurship and entrepreneurial individuals.
Some these points will justify how entrepreneurship impacts on economy:

. Entrepreneurship is important because it has the potential to raise living standards and generate
wealth not only for entrepreneurs but also for related businesses.
. Entrepreneurs also help to drive change through innovation, where new and improved products enable
the development of new markets.
. Excessive entrepreneurship can be harmful to economic development.
Furthermore, entrepreneurial-created new products and services can have a cascading effect, where
they enhance the business economic growth and development.
CONCLUSION:
Based on everything that have discussed above shows the impacts of entrepreneurial ventures on the
economy. Creating job opportunities, reducing unemployment, increasing competition, opening up new
markets, increasing productivity, creating external income and reducing poverty are some of the positive
effects of entrepreneurship on the economy. However, this does not mean that there are no negative
effects. However, combined with the waste and plunder of resources, entrepreneurship clearly has a
positive impact on the economy.
HEADING 02
SMALL BUSINESS AND START-UP EFFECTS ON SOCIAL ECONOMY
Social entrepreneurs are the persons who start-up the new small business and have potential to solve
the community-based problems. They work for the betterment of social economy which include charity
centers, community groups, hospitals, self-help groups, free school organizations. This concept may be
applied to a wide range of organization which are small in size but working great for the social economy
because social entrepreneurs, however, are either non-profits, or they blend for- profit goals with
generating a positive “return to society”. For example, JDC welfare organization a charity non-profitable
foundation working for social economy with 25 ambulances, 12 dastarkhan, 2oldage homes, 4
educational centers.
HEADING 03
IMPACT OF SMALL AND MEDIUM ENTREPRENEURIAL VENTURES OF PAKISTAN’S ECONOMY
1. Local and Regional Small Medium Entrepreneurs:
SMEs play a key role in economic development. The contribution of Pakistani SMEs is not as
good as that of other countries, but its importance is undeniable. The SME sector faces many
challenges that prevent it from contributing to the country’s GDP.
2. National Small Medium Entrepreneurs:
These are the most important assets because they play an important role in the country’s
economic growth. It can be the cornerstone of the economy, but also a source of employment
and opportunities for people. It accounts for approximately 28% of Pakistan's economy. sum.
3. International Small Medium Entrepreneurs:

International small and medium-sized enterprises such as in low-income countries, enterprises
account for more than 55 percent of GDP and 65 percent of total employment, and more than
55 percent of GDP and 65 percent of total employment in high-income countries. 97% of total
employment in middle-income countries, accounting for about 73% of GDP. There are no
assistants who employ less than 350 workers in Pakistan or deposit up to 30 million rupees in
capital and 250 million rupees in annual turnover.
References
(2019).
economy impact. uk.
enterpreneurship. (2018).
startup.pk.
(n.d.).
history. wikipedia.
KIM, L. (2015).
entrepreneurs.
TARVER, E. (2021).
Skills pf entrepreneur.