Entrepreneurship and Small Business Management

Unit 9 - Entrepreneurship and
Small Business Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
LO1..................................................................................................................................................3
P1- Different type of entrepreneurial ventures and how they relate to the typology..................3
P2- Similarities and difference between entrepreneur ventures..................................................5
LO2..................................................................................................................................................6
P3- impact on micro and small business on the Uk economy.....................................................6
P4- Importance of small business and business start-ups to the growth of social economy.......8
LO3..................................................................................................................................................9
P5- determine the characteristics traits and skills of the successful entrepreneurs.....................9
P6- Ways in which aspect of entrepreneurs proportionality reflect entrepreneurial mind-set and
motivation..................................................................................................................................11
LO4................................................................................................................................................12
P7- Ways in which background and experience can hinder and foster the entrepreneurship. . .12
CONCLUSION..............................................................................................................................14
REFERENCESS............................................................................................................................15

INTRODUCTION
Entrepreneurship refers to the process of creating a new enterprise and take risk to start
their new business, so they can be successfully in their life and achieve their goals. They come
up with the new ideas that can add some value in the customers life and earn profitability.
This report will cover case study of EG group run by two brothers Zuber and Mohsin
and owns 5200 petrol station mainly in US and Europe, and they buy the Asda from the Walmart
so they can open supermarket nearby their petrol pump and increase their sales within the market
This report will explore and illustrate the range of venture types that might be considered
entrepreneurial. It will interpret and asses the relevant data and strategies to identify the impact
of macro and micro. This report will also determine and asses the key aspects of an entrepreneur
and their mindset with the examples of two real life entrepreneurs.
MAIN BODY
LO1
P1- Different type of entrepreneurial ventures and how they relate to the typology
There are various type of entrepreneurial ventures like small business, Scalable, social,
large etc. all the ventures have their own way top work and business objectives (Welter and
et.al., 2017). It is necessary for the entrepreneur to start their business, and they can choose any
of the entrepreneurial venture according to their size and availability of the capital.
Corporate Entrepreneurship
This is a process of developing new businesses, products, services or processes within an
existing business organisation . This is aimed at creating value and generating new sources of
revenue growth through entrepreneurial actions and thoughts. This means that entrepreneurship
in which growth and revenue is one of the important goal of entrepreneurship (Morris and et.al.,
2018).
Small business entrepreneurship
A majority of the business are small and entrepreneur always start their business from the
small to large. People are interested in the small business entrepreneurship to support their
profits, and they can live modern lifestyle.
Large business entrepreneur
Large business entrepreneurship businesses are type of entrepreneurship in which
advanced professionals who knows how to sustain innovation to run business on the large scale.

Small business become large business when they grow by developing their product and sell their
product on the national level.
Scalable start-up entrepreneurship
Scalable start-up entrepreneurship is when entrepreneurs believe that their company can
change the world (Porfírio, Felício and Carrilho., 2020). They often receive funding from
venture capitalists and hire specialized employees. Scalable start-ups look for things that are
missing in the market and create solutions for them.
Public sector Entrepreneurship
Public sector entrepreneurship is one in which different initiatives are taken for
transforming status quo in social and economic towards improvement. This means that
entrepreneurial initiatives that are taken for improving socio-economic conditions and are taken
in public sector are known as public sector entrepreneurship (Brown and et.al., 2018). For
example- Improving public education and undertaking initiative for improving public sector
initiative.
Social entrepreneurship
Social entrepreneurs are the people who start their venture to help people and solve their
social problems by thorough the charity. Their main goal is the make the world better for the
living. They look for the ways to make their product and services stand out from the other things
on the market and best examples of the social entrepreneurs are Steve and bill Gates.
How entrepreneur venture relate to typology
Survival
Survival entrepreneurs basic goals is to survive in their business and with this motive
they start their business and this type of entrepreneurs related to the small business because it
covers business like general stores, supermarket local business etc. they try to earn money that
can enough for their survival.
Lifestyle
Lifestyle entrepreneur are simpler to the survival and their main motive is to explore the
countries and whole world and by influencing the people, and they earn money by making the
videos on the platform like you tube (Kuzieva., 2020). It is similar to all small and large
entrepreneurial ventures because they start their own business and earn profit by showing their
lifestyle. This entrepreneurship is concerned with business in which individuals start their