Influence of SME’s on Nation’s Economy

This article discusses the influence of small and medium enterprises (SMEs) on the economy of a nation. It explores how SMEs contribute to economic development and improve the living standards of people. The article also highlights the role of SMEs in times of crisis and their support to the government in maintaining effective governance.

Entrepreneurship and
Small Business
Management

Contents
INTRODUCTION...........................................................................................................................................3
TASK 1..........................................................................................................................................................3
P1 Various kinds of business venture along with their topology.............................................................3
M1 Public and Private sector...................................................................................................................5
P2 Differentiate and similar features among different business types....................................................5
TASK 3..........................................................................................................................................................7
P3 Influence of SME’s over nation’s economy ........................................................................................7
P4 small Business contributing to the growth of economy .....................................................................8
M2 Analysis of differences among small, medium and large businesses into the economy....................9
TASK 3..........................................................................................................................................................9
P5 features and skills of successful business men...................................................................................9
P6 factors that influence a person in becoming a entrepreneur ..........................................................11
M3 Explore different lines of argument relating to entrepreneurial characteristics .............................12
TASK 4........................................................................................................................................................12
P7 background or features of a person that damages or fosters the success of entrepreneurs ...........12
M4 link between business person background and its characteristics..................................................13
CONCLUSION.............................................................................................................................................13
REFERNCES ................................................................................................................................................13

INTRODUCTION
Business person are the people who converts their innovative and creative idea into an
extraordinary plan by putting up into a form of business into the market. These people start their
business by providing the new and innovative product which gets mesmerizing the customers
and customers purchase it. The idea which is brought by the business person is new and so
different that it creates a niche market for a time being until no other business or organization
copies them. The innovative idea satisfies the needs and wants of customers and makes their
lives quite easy. For reference B&W organization is taken. The company was set up by 2
people’s name as Simon and Bobby Arora. The numbers of employees which are hired by the
company are around 28,000. The company is specializing in producing the home products and
serves around the whole world.
The report discusses about the various typology which entrepreneurship has. The report also
talks about the benefits which are acquired from this small and medium scale business to the
local and national level. Furthermore, the report also includes the skills and characteristics which
a business person has. Apart from this the background and the education influences upon the
entrepreneur has also discussed into this report.
TASK 1
P1 Various kinds of business venture along with their topology
An entrepreneur is an individual who thinks of a plan to begin a business with his
accessible assets, and is prepared to take all the dangers related with it. For the most part, the
business thought incorporates another item or administration rather a current business thought.
These entrepreneur looks for circumstances accessible and go about as a 1st person to take the
opportunity & investigating the chance. The business endeavors focus on exceptional yield
through applying similarly significant stage of hazard & vulnerability (Acs and et. al., 2012). The
business man is happy to face challenge for the funds contributed, investment & crude material,
laborers utilized and so forth. Airbnb can be a great example for this.
Different kinds of entrepreneurial business
Small ventures: It is an entrepreneurial business which is run by an individual and he is the one
who fully acquires all the gains and profits. The small scale organization needs a small amount if
capital and investment. The money which is been put into the business is not more than the
amount which is put into medium scale businesses. The employees who are hired by small scale
organization is in between 1 to 49. The business owner or the idea creator can take the capital
from various sources which may include his personal savings, bank loans, loans from family or
friends and the like. Some of the examples of small scale business venture includes salons, hair
dressers, dry cleaners, and the like. Likewise, these models don't play or hold predominant spot
into their separate enterprises. For instance, salons, beauticians, training classes, etc. are a few

instances of little scope organizations. In such the utilized are exceptionally short of what others
and furthermore the extension of the business is little (Audretsch, 2012). B&W which is goods
store is a little scope business which focuses on the neighborhood greatest a city.
Scalable Business venture: They refer as the advancement centered organization. The business
person in these endeavors attempts in make another place through accumulating inventive items
or administrations as they absolutely vogue to open. This inventive thought claims the clients.
Scalable undertaking drastically changes a current market with their inventive, innovation based
items or administrations. Such undertakings can get their capital through holy messenger
speculations, investments, quickening agents, companions, family and individual assets. The
objective of these endeavors is to create a critical riche for financial specialists and originators.
Instances of scalable organizations incorporates. Some of the example of scalable businesses is
Instagram, Indeed, twitter and the like. In twitter application the members can post their views
and opinions about a topic or of anything which is up in their mind. The app has many verified
account of people who are known and famous among people. Another app, Instagram, in which
the people can post their pictures and their followers can like and comment on it. In another
business venture, Indeed, where the people who are looking for the job can make an account
their and can upload the resumes. At indeed the employers or the company keep on posting the
vacant position which they have in their department and the candidates apply for the job. This
application is very much useful for the people.
Social business venture: In these organizations point reason for existing is to improve the world
a spot to live. They construct inventive answers for take care of natural and social issues. The
principle point of these businesses adventures are to augment manageability improvement. This
measure for investment enjoy relies on the sort and scale of the entire capital putted. The
undertakings have a gauge to make a critical change and effect on the lives. A few instances of
such businesses adventures incorporate an organization attempting to illuminate winning medical
problems, taking care of explicit social issue winning in a nation, natural concern, etc. For
instance, Gravity light, the association principle purpose is for supplant the lamps with power.
The association causes the underdeveloped territories to get the accessibility to power. This
organization has work for the society by claiming them as a social business as they perform the
work for the betterment of the society only.
Large business venture: they are the type of organization at which any rate 500 representatives
work. These are by and large co-activities which significant objective are to creating
considerable benefits and incomes for the organization and its investors. They rise the amount
through their incomes, credits got from assessment, and auxiliaries. Enormous entrepreneur
adventures are significant business in the network (Chugh, 2016). They representative
individuals at a mass number which is useful for economy moreover. They will in general build
up a decent notoriety and are conspicuous by dominant part of populace. Models for enormous
entrepreneur adventure incorporates E&Y, Deloitte, Tata, ITC and so on. Every one of these
organizations have create an essence throughout the world and they are called as practically

everywhere throughout the world. The organizations in above model have utilized a great many
representatives likewise they are operating and have the activity platform in numerous nations
(Dahles and Susilowat, 2015). The accenture organization is built up in excess of 200 urban
areas and has workers more than 5,05,000.
The various topology of the company are as follows:
Lifestyles enterprise: All these enterprises focuses upon the need to upgrade the living
standards of the people. Where the company is located, it tries to bring the high level of the
living standard of the people reciting there. As these firms are located at these places, they give
the employment to the local people, build up the infrastructure, general amenities and etc.
Growth enterprise: In growth enterprise those organizations are included which are earning the
high percentage of revenues and growth. These enterprises earn the profits by providing the
customers the products and the services which they need. In this the organization earns the
revenue through customer satisfaction.
All these types of ventures and topology are all inter related with each other. They all
focuses on providing the customer satisfaction and up gradation of living standard of people.
M1 Public and Private sector
The public organization is the organizations which work for the welfare of the society.
Their main motive for their operations is to serve the public not to earn profits. Their mission and
vision surrounds by society welfare through brining equality, infrastructure development, brining
facilities for poor people, equal distribution of resources, equal access to rights and so on. Some
of the examples include financial conduct authority, security service and so on.
Whereas the private organization main motive is to earn profits. They conduct their
business in a view to make money and profits. Their motive is to make profits through cater the
needs and wants of their targeted market. For example, tesco, marks and spencer, Audi, BMW
and etc.
P2 Differentiate and similar features among different business types
Difference between business types
Basis Small Business Large Businesses Social
Size
They include at least
two than two staff
individuals which is
employed by the
proprietor of
These kind of
businesses endeavours
comprise of in excess
of 250 workers who
do diverse business
Quantity of
representatives at this
endeavours relies upon
the undertaking and
exercises actualized by

organization as
indicated by their
prerequisites.
exercises in a viable
way. Large business
entrepreneurs are
controlled just as
overseen through
expert accomplices.
them. Additionally,
25% are full time staff
individuals though
65% are low
maintenance labourers.
Motive satisfaction of essential
labour necessities of
their own just as
families is the
principle thought
process of small
business adventures
Build of entrepreneur
activities all inclusive
and to acquire higher
benefits is the primary
thought process of
Large business
adventures.
thought process of
social endeavours is to
improve the states of
social orders and
increase the living
expectation of needy
individuals winning in
social orders.
Structure In the small business,
there is no appropriate
authoritative structure
and shown for the
most part race to
single proprietor that is
sole ownership.
In this , it is
principally restricted
organizations or
companies too
(Deshpande and
Sharma, 2013).
It is a trustee based
association and
structure is followed
by them.
Examples Salons, hair dressers,
dry cleaners etc.
Instagram, Indeed,
twitter.
Gravity lights
Similarities among Entrepreneurial Ventures
Similarities Social enterprise Small entrepreneurial
ventures
Large company
entrepreneurial
ventures
1 Satisfying the needs These endeavours These entrepreneurial Large endeavour give

predominantly centres
around satisfaction of
individuals necessity.
endeavours stress on
distinguishing
necessities of clients
and market inclines
that prompts consumer
loyalty.
items and
administrations so as
to satisfy client needs.
2 the upliftment of
society
Their primary thought
process is to increase
living expectation of
individuals and
improve society
conditions.
The pay win by these
endeavour contribute
towards development
and advancement of
social orders.
Large entrepreneurial
endeavours contribute
a portion of benefit for
improvement of social
orders.
TASK 3
P3 Influence of SME’s over nation’s economy
Micro enterprises include in excess of 50 staff individuals who can complete exercises in
a legitimate way. They work with maximum capacity so as to upgrade their economic wellbeing
and expectations for everyday comforts (Drucker, 2014).
In the underlying phase, business people put away small sum if cash and plan to acquire
benefits just as to stay in showcase. They face higher challenge and bear all the misfortunes at
their own. They acquire inventive and imaginative thought advertise which legitimately
contributes towards the financial advancement of nation. Additionally, SME’s upgrade the
coating level of individuals that influence decidedly of the economic wellbeing moreover. SMEs
centers around giving those merchandise and administrations in showcase which acquires
positive change social orders. So as to increase better understanding, a model is talked about. For
example, at the hour of BREXIT, United Kingdom status regarding the economic was
confronting part of problems which put impact on individuals and organizations in a wrong way.
At that point, SMEs downs the administration so as to manage the circumstances in a legitimate
way (Fayolle, 2018). Likewise, SME’s help government to keep up successful & tackle the
emergency in powerful way. Along these lines, small and micro enterprises contribute on the
advancement just as development for United Kingdom economy.

Place: the influence upon SME’s, 2017
We can examined the following from the graph which is presented above about the economic
impact on united Kingdom:
 Approx. 19 % commitment is through small organizations in advancement of UK.
 From the graph presented above, it can be observed that these small scale businesses do
contribute into the growth of the economy. They also help the economy in generating the
employment which provides the main help to the country.
It has proven that this small scale organization has contributed well into the growth of the
country. They have played a vital role in generating the employment rate into the economy. This
business has helped in raising the living standard of people and also contributes into the up
gradation of the economy (Kerr and Rhodes-Kropf, 2014). The UK government for the growth
and survival of these small companies and business has made up schemes and policies or rebate
which helped these business in their growth. The UK government has also organized the
advisory services for this small scale organization so that they can have apt advice whenever
they feel like.
In UK, in year 2019 around 5.8 million new starts up of small business ventures has opened.
These millions businesses have provided the opportunities to the economy at a vast amount.
Through these small ventures, the innovation into the economy has increased, it also has
increased the employment rates or percentage in the economy, through these small ventures the
living standards of the people also has increased (UK small business statistics, 2018). The small
scale delivers the great advantage to the economy as a whole.

P4 small Business contributing to the growth of economy
The economic system is characterized as blended economy which includes trademark and
highlights of both open and private segments. Their principle thought process is to upscale the
expectation for everyday comforts of individuals and fulfill fundamental human needs of
destitute individuals. They distinguish how social standards, culture, convictions just as morals
sway on the buying conduct of client's predominant at commercial center. Economic system is an
intentional that works at both domestic and international markets.
Likewise, this legitimately adds to advancement and development of United Kingdom. In
addition, it helps which helps in adding the capital which prompts the improvement of UK
economy in a best way. The significance of private companies and new companies is
characterized beneath:
Innovation: Small businesses brings imaginative and creative items and administration at
commercial center. Their significant center is to build up those products and enterprises that gets
positive change social orders and upgrade the living standard. The innovation into the business
ideas is very much necessary to attract the new customers and also to maintain the current
customer base. The business man has to timely need to bring the innovative feature or the
product into the market which can make the lives of customers much easier. Innovation has
always considered as a serious or mandatory thing to adopt.
Higher Job Opportunities: It is resolved the increase in the percentage of small organizations
and new companies expands number of openings for work into the place that influence
emphatically on the general development of country’s economy. So as to discover capable and
gifted workers for organizations, it serves business openings in advertise that enable them to
select powerful possibility for the organization. The information, capabilities just as aptitudes of
staff individuals is used in a legitimate way with a plan to increase positive results adequately
and quickly. Besides, giving business chance to an applicant fulfill their necessity that upgrade
their situation alongside the national pay of the nation. With the assistance of skilled labours,
small organization and new companies make progress at commercial center which encourages
them to continue in advertise for longer timeframe (Neiland and Béné, 2013). Also, Small
organizations upgrade their tasks at worldwide level mind the assistance of their gifted and
successful workers.
M2 Analysis of differences among small, medium and large businesses into the economy
The impact and contribution by these above businesses are very huge and considerable.
The differences lie in the context of employees hired and the amount of output they give into the
market or to the society. For example, the employees hired by small scale business would be in
between 1-49, and by medium scale is between 50-250 but whereas the large scale businesses
can employee the members above 250. Here the huge contribution is made by the large scale
businesses into the economy. Also the small scale businesses would produce the output for local

areas, medium scale business generally for a city or a state but the large scale businesses would
produce the output generally for a view to targeting many countries.
TASK 3
P5 features and skills of successful business men
The personality traits, skills and characteristics defines the abilities of an individual with the help
of which they can accomplish their goals and objectives. An entrepreneur is more prone to risk
and are determined in comparison to the business manager due to which they are more
successful. Various characteristics and skills of the entrepreneur are given below:
Characteristic:
 Risk Taker: The entrepreneur are risk taker as they identifies the challenges within the
business environment and accordingly they plan to expand their business, further this
characteristic facilitate them to diversify their business by entering into new field as
Virgin group owned by Richard Branson has been operating in different segment. The
business manager avoids the risk and work as per the plans so formulated with the aim of
achieving the business objectives. It is because they have fear of disappointment and aims
to avoids the uncertainty for the business while an entrepreneur identifies new and
diversified opportunity and plan actions to accomplish them.
 Hard-working: This characteristics of an entrepreneur enables them to be consistent and
committed towards their goals and due to this they tends to determine various activities
which can enable them in accomplishing their objectives. Rowling is a hard working
women who consistently put her efforts to get her book published and then kept on
working on it. The business managers are also hard working but they move on to next
target when one is accomplished rather than extending the benefits from the previous one.
Skills:
 Creativity: The entrepreneur are creative and due to this they find creative solutions to
various problems. For this they focus upon learning about new experiences such as J.K.
Rowling wrote Harry Porter creatively that it can easily bind the reader with the plot. But
the business managers does not focuses to make the task and activities creative rather
than they focuses upon accomplishing the planned business operations.
 Effective Communication: With the help of this skill the entrepreneurs can efficiently
convey and understand the need of the people associated with them such as Richard
Branson interact with their employees and customers which enables him to determine the
changes that he has to bring in their services etc. But the business managers only consider
the aspects which are related to their business objectives and operations.

Traits:
 Feedbacks and remark approach- It has been seen that these the two siblings adjust
the criticisms and comment approach. By taking inputs and comments from clients, the
organization make vital upgrades to better themselves which likewise ends up being an
extraordinary system for them.
 Build of innovation - Each business can vanquish any market in the event that it carries
advancement to their items. So also case has occurred with Richard Branson. . He
brought innovative thoughts and present them before crowd in type of items, which was a
lot of like by the market.
With the help of this differentiation it can be identified that the entrepreneur are more open to
accept the challenges and the changes which are taking place within the business environment
than the business managers. Also they put in efforts to convert the challenges into opportunities
for the business. But the business managers works in the planned manager with aim of
accomplishing business objectives.
.
P6 factors that influence a person in becoming an entrepreneur
The entrepreneurial motivation is the process with the help of which an ordinary person can
convert their ideas into successful business. This is done by them through effective analyzing of
the opportunities which are present in the market and that can create wealth for them as well as
can ensure the economic development. The level of motivation of an entrepreneur is based upon
the mindset that they have as well as on the basis of their personality. Such personality traits of
an individual reflects in their pattern of thinking, behavior, feelings and thoughts etc. An
entrepreneurial personality alludes to the qualities, demeanor, conduct, abilities and personality
of a business visionary. Business person's personality frames through his training, companions,
ways of life, family, his experience, and past encounters. These elements form the entire
personality & characterize him before others. Some fundamental elements which influences
business visionary personality are as per the following
The personality traits can be better understood with the help of various models and
theories used for the analyzing the factors that can influence the entrepreneur are given
below:
Openness: This factor states that the person should be open in his ideas and opinions. He should
be open to all and should have the caliber to talk to any random person. That person should be
very extrovert and does not feel shy in respect to talk about any of the topic. Richard Branson is
having such a personality and due to which is can easily accept the changing taking place around
him with the aim of taking competitive advantage over others.
This mindset enables him in determining various opportunity in the market for him and for their
employees with which they can ensure the development of both. Mindset with openness to new
ideas enables to work on a platform to converse on new and innovative ideas as per the
requirement of the business environment.

Conscientiousness: It seeks to focus upon the personality where the person should have the
capacity to control the things. The rational decision making would help the person in thinking
intelligently even in the complex situation. That person should be of cool mined and should have
the balance of emotions and practical events. Such personality traits enables the J.K. Rowing in
working consistently for different level of books as per the taste and preference of the readers.
This enabled her in improving the possibilities of retaining the readers with her till her last book.
The caring mindset of an entrepreneur such as J.K. Rowing facilitates them in ensuring that they
have better relations with the people directly associated with the services that they offer.
Extraversion: This feature seeks focus on the person to be an extrovert. He should be able to
talk to others with comfort and should have the ability to listen to them also. That person should
also have the confidence so that they can talk to any random without any hesitation. Richard
Branson is highly social due to which he has sense of belonging and understanding for the needs
of the customers as well as they employees. This enables him in creating awareness about their
needs and expectation on the basis of which they can satisfy their requirement.
This mindset facilitate him in connecting with different people and sharing thoughts as well as in
ensuring that people are comfortable with them.
Agreeableness: It refers to the degree to which that person gets agree in the ideas and opinions
of others. It is very much necessary for an individual to take in other people opinions and ideas
should if they are talking correctly. They person should not be closed in its though and thinking
pattern. He should be very much open to all (Storey, 2016). With the help of this personality trait
J.K. Rowing could easily develop trust among the readers as they could easily relate the plot and
with the story so created by her.
This mindset develops ability to affect other in context of their thoughts and views is very rare
because making people agree to the same viewpoint is very difficult.
Neuroticism: It alludes to enthusiastic dependability and general conduct of individual. Forceful
feelings help business people in dealing with issues in a sound way . With such trait both
Richard Branson and J.K. Rowing they ensured that any situation that can create depression does
not affect them to a greater extend (Kirzner, 2015).
With this mindset they reflect that they can manage the situation and have control over their
emotions. On the basis of this they can manage the negative behavior also.
M3 Explore different lines of argument relating to entrepreneurial characteristics
An entrepreneurial character enables him in conducting the behavior in an ideal way. The
characteristics like being confident, extrovert, Agreeableness, Openness and so on shapes the
true and ideal behavior of a person. These help the employee in attracting many followers
towards him and also keeping them distinct from the crowd. They say that few people has the

such features which would enable them in building an empire or a businesses. These
characteristics also makes the personality of a person, a personality which is strong and pretty
much distinct from others.
TASK 4
P7 background or features of a person that damages or fosters the success of entrepreneurs
The way of picking up progress and development of entrepreneurs is change as contrast
with another. The intention of little endeavors of dynamic is distinctive as correlation with
enormous just as medium undertakings. The choice is changed according to the feature, scale &
extent of organizations. Experience and training of a person assumes a fundamental job in
forming the profession. The most significant trademark that is expected to have each business
visionary is coordinating, time the board, self inspiration just as self administration. All these is
created by the encounters and instruction of entrepreneurs (Werse and Bernard, 2016). The other
fundamental factor which is required in every single business visionary is eagerness of facing
challenge.
Each organization is related with different types of hazard and it isn't east to investigate this
hazard before commencement of tasks and exercises. Simon and Bobby Arora, the well known
entrepreneurs and an effective business supervisors faced challenge which is the principle reason
of achievement of their organization in showcase. Richard Branson, a popular pioneer and an
inspiration expect hazard as an open door and challenge that encourages him in picking up
progress. It is fundamental for people to be unpredictable just as adaptable which enable them to
adapt up to changing condition and decrease the degree of hazard. It likewise causes them to
accomplish their ideal objectives inside timespan.
JK Rowling,
Education and background: who is a writer, film maker, TV maker, screen essayist and giver
as an ideal case of business visionary. JK Rowling is an informed lady who has performed his
education in well known universities. Her energy for composing has caused the unfathomable to
harry potter and arrangement. The author did confronted issues in her own life separation,
partition and single parent yet she didn't make any trade off in her energy for composing. Her
enthusiasm to compose, her thoughts and advancement encourages her in turning into a fruitful
very rich person business person. Here her inspiration was her eagerness and mental fortitude to
seek after her fantasies to compose has tally (Wilson and Post, 2013). The creator did encounter
an extremely difficult time in her life where she experienced a great deal both genuinely and
expertly however her attribute and character of not surrendering has helped her in turning into
the individual who she is today.

The obstacles which were faced by the JK Rowling had created a barriers in achieving all for
which she has planned but she has learned some thing or other from these experiences. Her
experiences have helped her in becoming the who she is actually today.
Also, Richard Branson is a firm speculator, humanitarian and a creator.
Background and family: He established the organization Virgin gathering in the year 1966.
Richard of his initial days procures cash from the store of recordings. Through that cash he
introduces or dispatches the virgin studio name. Furthermore, continued enhancing his
organizations in different zones, for example, occasions bundles, virgin Atlantic, telecom
adventures and some more. In spite of confronting numerous problems & issues in his own life,
Richard has performed fantastically good in his expert life. His plan to differentiating, assurance,
thought age and initiative characteristics have tallies to be the individual he is today.
From all such experiences and background, he has understood the true value of things and
dreams. His experience has helped him in shaping his personality and the personality which he
has today. His background has encouraged him in becoming very much emphatic and thoughtful.
M4 link between business person background and its characteristics
The past experiences of both the people above have taught them something which also
helped them in shaping their personalities and behavior. There past experiences has taught them
to be very much empathic and understanding towards others. They also listen carefully to what
other people got to say to them. Their past failure had taught them to be so down to earth. The
family background and traits also forms the personality of a person which does taken as a major
structure for a person’s personality. The family background of both the people, JK Rowling and
The Richard were good and nice due to which also the nature of these two people is very polite.
CONCLUSION
Report which is presented above, the types of ventures is mentioned, some of them
includes small scale, large scale and social organization. The report also includes the skills and
characteristics which are commonly found in entrepreneurs and also the factors which influence
them in becoming a one, some of them includes family, lifestyle, past experiences and much
more.

REFERNCES
Books and Journals
Acs, Z. J.,and et. al., 2012. Growth and entrepreneurship. Small Business Economics. 39(2).
pp.289-300.
Audretsch, D., 2012. Entrepreneurship research. Management Decision.
Bridge, S. and O'Neill, K., 2012. Understanding enterprise: Entrepreneurship and small
business. Macmillan International Higher Education.
Chugh, S. K., 2016. Firm risk and leverage-based business cycles. Review of Economic
Dynamics, 20, pp.111-131.
Dahles, H. and Susilowati, T.P., 2015. Business resilience in times of growth and crisis. Annals
of Tourism Research. 51. pp.34-50.
Deshpande, A. and Sharma, S., 2013. Entrepreneurship or survival? Caste and gender of small
business in India.Economic and Political Weekly, pp.38-49.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Fayolle, A., 2018. Personal views on the future of entrepreneurship education. In A research
agenda for entrepreneurship education. Edward Elgar Publishing.
Kerr, W. R., Nanda, R. and Rhodes-Kropf, M., 2014. Entrepreneurship as
experimentation. Journal of Economic Perspectives. 28(3). pp.25-48.
Kirzner, I. M., 2015. Competition and entrepreneurship. University of Chicago press.
Neiland, A .E. and Béné, C. eds., 2013. Poverty and small-scale fisheries in West Africa.
Springer Science & Business Media.
Nwobu, O., Faboyede, S. O. and Onwuelingo, A.T., 2015. The role of accounting services in
small and medium scale businesses in Nigeria. Journal of Accounting, Business and
Management (JABM). 22(1).
Santos, F. M., 2012. A positive theory of social entrepreneurship. Journal of business
ethics. 111(3). pp.335-351.
Storey, D. J. ed., 2016. Entrepreneurship and New Firm: Theory and Policy. Routledge.
Storey, D. J., 2016. Understanding the small business sector. Routledge.
Werse, B. and Bernard, C. eds., 2016. Friendly Business: International views on social supply,
self-supply and small-scale drug dealing. Springer.
Wilson, F. and Post, J. E., 2013. Business models for people, planet (& profits): exploring the
phenomena of social business, a market-based approach to social value creation. Small
Business Economics. 40(3). pp.715-737.
ONLINE
UK small business statistics, 2018. [Online] Available through: <https://www.fsb.org.uk/uk-
small-business-statistics.html>.