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Types of Entrepreneurial Ventures- Assignment

   

Added on  2020-10-23

8 Pages2031 Words148 Views
WHAT MAKES ANENTREPRENEUR

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1P1. Various type of entrepreneurial ventures and there relation with typology..........................1P.2 Similarities and differences between various entrepreneurial ventures................................2P3. Impact of micro and small units on economy.......................................................................3P4. Importance of Small Businesses and Business Start-up in contribution to growth of socialeconomy......................................................................................................................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6

INTRODUCTIONEntrepreneur is a person who establish new business with creative and innovative ideasplus also has the potential to take the financial risks. The term entrepreneurship is related todesigning, launching or establishing a new business. Report discusses different type ofentrepreneurial ventures and there relation to typology. It also highlights similarities anddifferences between various ventures. Assignment lays emphasis on how micro and smallbusiness impact economy. MAIN BODYP1. Various type of entrepreneurial ventures and there relation with typologyTypes of entrepreneurial venturesMicro units: Micro business industries are that where the initial investment by theentrepreneur is 25 lac and below it. They consist of employees between 5-7. Also, this industrymake less profit in comparison to large size business. The units establish under micro industriesare grocery stores, salons, plumber, carpenter and many more. Main aim of establishing theseunits is to earn a daily living (Different type of entrepreneurship, 2013). Small units: These are those industries where the initial investments made by the owneris between 25 lac to 5 Crore (Kuratko, 2016). The entrepreneur hires 15- 49 employees. Theyusually make profit ore revenue which is higher in amount in comparison to micro industries.There main aim of establishment is to earn a high amount of profit so that they can expand theremarket share. Medium units: These are those firms which are established by entrepreneurs with theinitial investment of 5 Crores to 10 Crores. They are engaged in hiring workers between 50-244.Also, they are involved in performing various social responsibility such as CSR activities. Theyhave higher risk of loss in comparison to micro and small units. Typology of EntrepreneurshipSmall businesses' entrepreneurship: This a type of firm where the owner has fullcontrol over the day to day activities performed by employees. Main objective of establishingthis industry is to earn a nominal amount of profit that can assist entrepreneur and thereemployees in feeding one's family and friends. 1

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