Entrepreneurship and Small Business Management

Entrepreneurship and Small
Business Management

Table of Contents
Introduction................................................................................................................................3
Part 1- Entrepreneurial Ventures................................................................................................3
Examine altered types of entrepreneurial ventures further explain how they narrate the
typology of entrepreneurship.................................................................................................3
Explore the resemblances & differences among entrepreneurial ventures............................4
Interpret and assess applicable data and statistics to show how MSME impact on the
economy.................................................................................................................................6
Explain the position of small businesses and new business start-ups for the growth of the
social economy.......................................................................................................................8
Part 2- Exploration of the Entrepreneurial Mind set..................................................................9
Introduction............................................................................................................................9
Determine the representative traits and skills of effective entrepreneurs............................10
Assess different aspects of the entrepreneurial character and reflect entrepreneurial
inspiration and mind set.......................................................................................................12
Examine, using pertinent examples, how contextual and experience can hamper or foster
entrepreneurship...................................................................................................................13
Conclusion................................................................................................................................14
References................................................................................................................................15

Introduction
This is very important for the growth of the business to work and manage the data in an
authorised way and make sure to gain the knowledge which are related to different source
and financial and corporative risk. Entrepreneurship is the way to develop the new business
by identifying the concept and make risk which are associated to financial and different
management problems. This is the process which are used to expand make effective business
opportunities’. The chosen organisation for completing assignment is FTI consultancy as it is
one of the leading company in providing effective consultancy to the different companies
about to entrepreneurship and many small business opportunities’ (Abdullah, 2020). Their
maim office are in London and Scotland. This report include two parts, part one is related to
entrepreneurial venture and make different type, resemblance and make applicable data to
work on MSME and its impact on the growth of economy. Second part is the presentation
report which actually include the traits, skill and characteristics of the company which are
helpful for the growth of the company.
Part 1- Entrepreneurial Ventures
Examine altered types of entrepreneurial ventures further explain how they narrate the
typology of entrepreneurship
When it comes to market exploration technique the company are able to make
effective growth and opportunities through different venture and at the same time the link
which are related to typology of different entrepreneurship:
Small business entrepreneurship: This is the type of company which are related to
new start-up and it is run by the single owner and very low number of employees. Further,
the revenue generation are also not with that high and their main focus is to getting more
clients and development of the company by their products (Akpan, Udoh, and Adebisi, 2020).
Grocery store, painter and storefront etc. are the some people who are make success in these
type of small business entrepreneurship. They are included in Fabian entrepreneur who are
not able to take more risk in their start-ups.
Scalable start up entrepreneurship: These are those business which are highly
related to innovative and start up and their main focus is on providing something innovative
to their customers. These type of entrepreneur believe in their ideas and make sure to make
high investment for identifying venture capitalist economy. These organisation are highly
related to major changes and growth in investment form the venture capitalist and their idea.

These are related to innovative enterprenuer who are ready to invent something new for their
customer.
Large company entrepreneurship: this type of venture has finite number of life
cycle, as they are only focusing on the serving their customer for long period of time. Here,
the demand of the customer are change and make an impact through competition, legislation
and many large organisation which are mainly related to different sources and make new
products for the entirely new market and growth (Baker, Kumar and Pandey, 2021). This is
very important for the company to work and manage the activities, however the size of the
company are make many difficulties with the company to work and allocate the data as per
disruptive level. This include imitating entrepreneur who just copy the other’s idea.
Social entrepreneurship: This is the type of entrepreneurship which are mainly
focus on the major difficulties and social problem that may be delivered to products and
service at the social costs and benefits. This type of organisation can be related and go for the
profits, not for profit and hybrid situation. They are related to scalable entrepreneur and
needed more growth and requirement within the company.
Explore the resemblances & differences among entrepreneurial ventures
Difference between entrepreneurial ventures:
Basis Small Business Scalable Start-up Large
companies
Social
entrepreneurship
Goals These
organisation are
not such
effective
structure they
just work for
lesser profit and
growth in the
market.
Their main aim is
to provide
something
innovative to their
products and high
profitability sector
and investor
growth.
Their main aim
is to sustain for
the long period
of time in
market and
supply large
amount of
product and
services.
Their main goal is
to provide quality
and assurance of
the products to
their customers.
Risk factor Here the risk
might be very
low but the
competition is
High risk and high
competition within
the company as it
is related to
The risk are
medium and
sell the volume
which are
The risk and
competition is not
as high, as their,
main aim is to