Entrepreneurship and Small Business Management

Entrepreneurship and
Small Business
management

Table of Contents
Introduction......................................................................................................................................1
Part 1................................................................................................................................................1
Analyse various type of entrepreneurial ventures also how they relate to typology of
entrepreneurship.....................................................................................................................1
Discuss the similarities and difference between entrepreneurial ventures.............................3
Interpret and measure appropriate data to show how micro and small business influence the
economy.................................................................................................................................4
Discuss the benefits of small business and start up to the development of social economy..5
Part 2................................................................................................................................................6
(Covered in PPT)....................................................................................................................6
Conclusion.......................................................................................................................................6
References........................................................................................................................................7

Introduction
Entrepreneurship is defined as the of creating new and innovative business entity on the
basis of new ideas and innovation with the aim of earning profit and minimising the risk
involved. The person who takes the initiative to start an enterprise bearing all the risk is known
as entrepreneur. Entrepreneurship is a risk associated process but also a profitable and rewards
earning process. For this report Ernst & Young consultancy firm is taken as the base company, in
order to provide advices and market intelligence to small businesses and entrepreneurs. The
Ernst & Young is one of the top international leader in providing consulting, strategy and
services. Company was founded in 1989 headquartered in London, UK. This report covers
different types of entrepreneurship and their typology also the different type of environments and
the importance of economy at different levels is also included in this report. In addition to this
scope of entrepreneurship with their situational factors, similarities and differences also the traits
and characteristics of entrepreneurial and the background and experience of entrepreneurship and
how it hinder or foster them is also highlighted in this report.
Part 1
Analyse various type of entrepreneurial ventures also how they relate to typology of
entrepreneurship.
Entrepreneurial ventures are the type of business enterprises with the aim of converting
their innovative idea into the reality, the main focus of this type of ventures is to bring some
innovation into the market earning profit and minimising the risk (Akpan, 2020).
. There are different types of entrepreneurial ventures discussed below:
Small business entrepreneurship: The first type of entrepreneurship venture is the small
business entrepreneurship, this type of ventures are generally small in size and started with the
aim of generating minimum profit, there main focus is satisfying their customers and earn at least
minimum profit. This type of ventures is mostly runs by the family members or single person.
They provide innovative and creative solutions effectively.
Some of the examples of Small business entrepreneurship are grocery stores, plumbers,
electricians, and so on (Al-ali, 2019).
Scalable start-up entrepreneurship: The another type of entrepreneurship venture is the
Scalable start-up entrepreneurship, the main focus of these type of venture is to provide
1