Entrepreneurial Ventures: Types, Impact on Economy, and Social Significance

This report explores different types of entrepreneurial ventures, their association with technology, and their impact on the economy. It focuses on the connect catering company and its role in the market. Additionally, it discusses the significance of small and micro organizations in the economy and their contribution to social welfare. The report also examines the key aspects of an entrepreneurial mindset and how background and experience can hinder or foster entrepreneurship.

Entrepreneurial Ventures

Table of Contents
PART 1............................................................................................................................................3
INTRODCUTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
PART 1............................................................................................................................................3
LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial. .3
P1Kinds of entrepreneurial ventures and how they are associated with typology......................3
P2Explain the similarity and difference among entrepreneurial ventures...................................5
LO2 Assess the impact of small businesses on the economy..........................................................6
P3Analyse, explanation, and demonstrate impact of Small and micro organization on the
economy.......................................................................................................................................6
P4significance of small and start-up business in enlargement of social Economy.....................8
PART 2............................................................................................................................................9
Covered In PPT................................................................................................................................9
LO3 Determine and assess the key aspects of an entrepreneurial mindset.....................................9
LO4 Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship..............................................................................................................................9
CONCLUSION................................................................................................................................9
REFRENCES.................................................................................................................................10
Books and Journal......................................................................................................................10

PART 1
INTRODCUTION
An entrepreneur is the person who builds and create innovative business that provide a
Society new experience about several things. Entrepreneurship is also called as creating
designing and regulating all the activities of business in an appropriate manner so that they can
get more success and opportunity in the competitive market (Akstinaite, and Sadler-Smith,
2021). This report is going to illustrate about the connect catering company which is situated in
united Kingdom several kinds of entrepreneurship and their similarities. Along with this report
also illustrate about the entrepreneur which are associated with technology and also analyze
about the impact of a small and micro organization into economy.
MAIN BODY
PART 1
LO1 Explore and illustrate the range of venture types that might be considered
entrepreneurial
P1Kinds of entrepreneurial ventures and how they are associated with typology
Entrepreneurship is a type of position which are hold by the person who have a capability to get
more opportunities in the Marketplace and make more money so that they can contribute into the
economic (Abebe, Kimakwa, and Redd, 2020).
. Enterprises or the organization are operated by several entrepreneurs who have
capability to run the business in an appropriate manner by adopting several technologies and by
catering amended services to their consumer. The entrepreneurship contains several kinds of
business activities and strategy in order to monitor and planning their activities. There are several
kinds of entrepreneurship ventures which are associated with technology are mentioned below:
Serial entrepreneur: These are the person who has amended capability and creative mind
set. They are the person who has competitive personality so that they can achieve their goals and
objectives in an appropriate manner. In the connect catering company, Serial entrepreneur are the
person who always believe in bigger expansion and they are not stick only one Enterprises they
always wants more changes and modification in their strategies.

interaprenuers these kind of entrepreneur are the person who came together for achieve
and complete the particular project and task . these kind of entrepreneurship at the person who
are liable to take decision and take actions into the company.
Owners manager: A business owner is the person who enjoy all the profit and share over
their contribution. The major decisions of the organization are taken by the owner so that they
can make modification in the organization and regulate their planning procedure.
Technical mentors are categorized into several categories that perform several functions and
enable practices in the company.
Survival venture: The Enterprises of The Ventures are the person who generally operates on
small level. The main purpose of Survival venture is to achieve the goals and objective so that
they can make money and earn profit in order to get opportunity (Woods, Yu, and Huang,
2020) . the best example of Survival venture is Moma food Amazon seller and several more.
Lifestyle venture: These kinds of ventures are the person who operates their business by the
family. They are the person who generally focusing on improvement of the standards and their
living standard in order to enjoy a life style. The example of lifestyle venture is is UK SDS
Incorporation.
Growth venture these are the ventures who are focusing on the popular market will stop the
growth ventures person has their aim for long-term development and their future substation
ability. These kinds of Enterprises are concentrating on technology and market Trends so that
they can get more opportunity in the Marketplace. The best example of growth venture is the
company which is situated in United Kingdom.
Connection with entrepreneur typology
Small business entrepreneurship:
There are several kind of entrepreneur Technology through which the small business
entrepreneurship are the kind of lowest form of entrepreneurship. These kind of business are
comes into that category which fulfill their basic livelihood bi making for attaining a least
amount of profit. These kinds of entrepreneurship include like dairy and poultry farm.

Scalable startup Enterprise: These kinds of Enterprises are those kinds of Enterprises who
have a good investment and capital contribution in their business activities. The best and
amended example of scalable startup enterprises is WhatsApp Facebook Google which regulate
control attention globally.
Large company Enterprise: these are those kind of company which represent their capital
investment and their goods and services on multinational level (Wang, and Zhang, 2020). this
company started their activities with minimum sources and expand their business in order to gain
more competitive advantage. The best example of large company Enterprises is Amazon,
Alibaba and several more.
Social Enterprise: These kind of inter prices are operating for society welfare. They cater
guidance to their valuable person by providing those resources like education to children
fulfilling the basic requirements of the person like food shelter water and many more. The best
example of social Enterprises is UNICEF.
P2Explain the similarity and difference among entrepreneurial ventures.
As there a difference among entrepreneur Avengers and they are categorized with some
similarities and differences. The differences among survival ventures Lifestyle ventures and
growth ventures are mentioned below:
Survival Ventures Lifestyle Ventures Growth Ventures
 The Ventures do not
take money from
outside institutions;
instead, they put their
own money into the
firm.
 The organization's
work is not frantic, but
it follows a set of
standard operating
procedures because the
 The ventures need a
large initial investment
to establish a living
lifestyle, thus money
must be obtained from
other financial
institutions at the
lowest possible interest
rate.
 Because these ventures
are controlled and
 The organisation is
well-known and in high
demand among clients,
necessitating a young
person's initial
investment in order to
generate a diverse
range of products and
services. Bank loans
and government
financing are used to

owner is the sole
decision maker in this
business (Di Pietro,
Monaghan, and
O'Hagan‐Luff, 2021).
conducted by family
members or relatives,
they do not have
complete control over
decision-making
because they follow a
line of command. This
will bring chaos and a
sense of undervaluation
into the organisation.
raise cash.
 The company has
educates management
activities in context of
developing plan rules
and regulation that are
governed by top
management.
LO2 Assess the impact of small businesses on the economy
P3Analyse, explanation, and demonstrate impact of Small and micro organization on the
economy
Nation economy is highly affected by micro and small business company that is connect catering
company which covered large area so that they can serve people in order to fulfill the
requirements of them. These kinds of Enterprises are the same for the economy of the nation
because they contribute towards the society welfare. There are several kinds of advantages of
micro and small organization towards the economy and Nation that are mentioned below:

Contribution towards GDP: Supporting to the statistical data it represents that micro and small
organization contribute towards the economic context of growth and development of GDP. By
fulfilling all the requirement and needs the all company generate amended growth and expansion
strategy in the Marketplace that eventually impact on GDP growth of the nation.
Employment: micro and small organizations have several and path to develop Employment
opportunity for several individual who are not literate and much knowledge about technical field.
In United Kingdom several organizations that in hands employment rate and overcome the
unemployment from the economic with support the company to enhance their economy of the
organization (Nair, 2020).

Therefore it has been analyzed that micro and small business has a positive impact on the
economy as well as on the country.
P4significance of small and start-up business in enlargement of social Economy
Social economic: The organization is not only operate individually but they hire
individual from the society and it contribute towards that society. Social economic describe
about the requirement of the connect catering company in order to work according to the ethics
and norms of society. There are several importance and advantage of small enterprises in context
of social economy that are mentioned below:
Employment opportunity: social economy in hands employment opportunity in context of
economic. Providing employment is much amended task for the company so that they can
overcome the poverty from the country (Su, Yang, and Wang, 2020). The small organization
fulfills these kind of requirement and responsibility in order to contribute towards the economy.
Innovation: there are several kinds of organization who are not started their business
from the top level services. This kind of Enterprises generally preferred to go to step by step so
that they can achieve their goals and objectives in an appropriate manner. So these kind of
organization are much amended and future of the next generation. The future of the company's is
totally rely on how the company adopted their Technology and become more innovative towards
their services and product.
Social purpose: Small companies are those companies for not only provide and give job
opportunity and make profits but also contribute towards the social welfare and economy. As
compared to the large organization small organization is much amended for the economy
because they contribute in society welfare and get amended support from government site and
charitable funds in order to fulfill the requirements of the person.
Investigation it has been evaluated that small business create positive impact on the social
economic. It is very important for the small business connect catering company as they are
operate among group of person that maintain the common norms and ethics of society to follow
appropriate code of conduct first of these kind of organization can be said that they are future
generation(Ratten, 2021) . Therefore the government and large organization are required to
provide support and their contribution so that they can grow their business.

PART 2
Covered In PPT
LO3 Determine and assess the key aspects of an entrepreneurial mindset
LO4 Examine, using relevant examples, how background and experience can hinder or
foster entrepreneurship
CONCLUSION
From the above mentioned report it has been concluded that entrepreneurship is the
person who create innovative business in order to provide amended experience towards the
society. Along with test there are several types of entrepreneur ventures who are associated with
typology and fulfill their requirement accordingly. Along with this report describe about the
similarities and difference between entrepreneur ventures like survival ventures Lifestyle
ventures growth ventures. Along with this report illustrate about the how small and micro
organization give their contribution towards the economy so it contribute towards the GDP
employment in order to maintain the economy of the country.

REFRENCES
Books and Journal
Abebe, M.A., Kimakwa, S. and Redd, T., 2020. Toward a typology of social entrepreneurs: the
interplay between passionate activism and entrepreneurial expertise. Journal of Small
Business and Enterprise Development.
Akstinaite, V. and Sadler-Smith, E., 2021. Entrepreneurial hubris. In World Encyclopedia of
Entrepreneurship. Edward Elgar Publishing.
Di Pietro, F., Monaghan, S. and O'Hagan‐Luff, M., 2021. Entrepreneurial finance and HRM
practices in small firms. British Journal of Management.
Nair, S.R., 2020. To examine women social entrepreneurial ecosystems: Opportunities and
challenges. Handbook of research on smart territories and entrepreneurial ecosystems
for social innovation and sustainable growth, pp.326-345.
Ratten, V., 2021. Sport entrepreneurial ecosystems and knowledge spillovers. Knowledge
Management Research & Practice, 19(1), pp.43-52.
Su, Z., Yang, J. and Wang, Q., 2020. The effects of top management team heterogeneity and
shared vision on entrepreneurial bricolage in new ventures: An attention-based
view. IEEE Transactions on Engineering Management.
Wang, C. and Zhang, X.E., 2020. Binary effects of exploratory and exploitative learning on
opportunity identification: The different moderations of environmental munificence and
entrepreneurial commitment. Asian Business & Management, pp.1-28.
Woods, C., Yu, H. and Huang, H., 2020. Predicting the success of entrepreneurial campaigns in
crowdfunding: a spatio-temporal approach. Journal of Innovation and
Entrepreneurship, 9(1), pp.1-23.