Types of Entrepreneurial Ventures

This article discusses the various types of entrepreneurial ventures, including small business entrepreneurship, scalable start-ups, social entrepreneurship, and large business entrepreneurship. It explores the meanings, benefits, and examples of each type, highlighting their impact on the economy and the importance of small businesses and start-ups in driving economic growth.

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Small business Entrepreneur is someone that organises their business at small level with a motive to earn
profit and meet the daily expenses of family and individual. They enjoys the profit individually and also bear the loss
if occurs. Usually the entrepreneurs hire the people from local market in order to improve the economy of Local
City. The Entrepreneurs also aim to enhance their growth and productivity if they get an opportunity. In Small
business the number of employees is few due to which they don’t require huge investment in manpower. The
Examples of Small business entrepreneur are Saloons, Boutique and Grocery shops.
Scalable Start-ups Entrepreneurs are the person who has an ability to change the society by implementing
their innovative and creative that helps in producing goods for the welfare of people which also satisfy the desire and
requirements of customers. The main motive is to produce better quality of gods and services to people which helps
in raising the standard of living of people. The Customers can also enjoy the products and services which are
provided by the entrepreneur. The source of fund for scalable entrepreneurs is venture capitalist; they attract the
investors and make the profit. The Examples of Scalable Start-up entrepreneurship example is Uber and Instagram.
Social Entrepreneur is also a type of entrepreneurial venture which aims to remove the negativity form
society by resolving the issues and problems that is faced by people. The Social entrepreneur establishes their
business with a purpose to make changes in the community by solving the problems and reducing the negativity in
Society so that people can live peacefully. They organises business for helping other people in meeting their needs
and requirements and organise charity for the people to raise fund for any purpose whether related to any disease or
education. The motive of social entrepreneur is to develop healthy environment by bringing the social change, they
don’t focus on earning profit and increase their growth. The fund is raised through investors, financial institution,
large businessmen and many other sources. The Examples of social entrepreneur is Non profit Organisation and
Charity Institution.
Large Business Entrepreneurs is another type of entrepreneurial venture that focuses on maximising the
profit by expanding and diversifying the business unit and activities. The Large business entrepreneurs usually hire
the talented and expertise employees who have an ability to bring changes and increase the growth of businesses.
They have a capability to produce the products according to the need and requirement of customers in order to satisfy
them and create a strong customer base. The Example of large business entrepreneurs are Microsoft and Amazon.
Serial entrepreneurs are related to various types of entrepreneurial venture as
entrepreneurs have an ability to think innovative and produce creative ideas that helps in attracting
and retaining customers in order to increase the sale and profitability of business. The Serial
entrepreneur focuses on providing better suggestion and ideas that helps in developing new product
and services which satisfy the need of people.
Female Entrepreneur is another typology of entrepreneurs in which the business is
organises and run by women. They are responsible to handle the activities of Organisation and
succeed in Market. The Entrepreneur can be both the person whether male or female but the success
of business depends on the ability and capability of an individual.
Lifestyle entrepreneur focuses on bringing development and changes in functioning of
business so that the work can be run in different and unique manner. The Lifestyle entrepreneurs are
known for taking risk due to which they achieve better results that helps in generating high profit.
SMALL BUSINES ENTREPRENEURSHIP
Types of entrepreneurial ventures Typologies of Entrepreneurial Ventures

Similarities and differences between entrepreneurial ventures
Basis of Difference Small Business Entrepreneur Scalable Start-ups Entrepreneur Social Entrepreneur Large Business Entrepreneur
Meaning The Entrepreneur establishes own business
and enjoys the revenue generated while
running the business.
They Start business to provide missing things
in Market and also create solution for people
by offering unique products.
The Entrepreneur generally starts business
for solving the social issues with their
goods and services.
The Large business entrepreneur focuses
on producing the goods and services
according to needs and preference of
customers in order to meet the market
demand.
Benefits The Small business entrepreneur enjoys
various benefits they have full control on
the store or venture; they are the decision
maker for the Company. The Entrepreneur
only earns and utilise the profit in meeting
its personal as well as professional needs
and requirements.
Scalability entrepreneurs works on improving
their performance and efficiency by creating
and developing new business ideas that helps
in increasing profitability and growth of
Organisation.
Social entrepreneur provide a great benefit
to society by implementing social change
and developing innovative and inspiring
solution.
The Large business entrepreneur enjoys
the brand recognition in Market and also
provides various advantages to employees
by offering high compensation packages
and other benefits.
Examples The Examples of Small business
entrepreneur is hairdressers, small
boutiques, plumbers and consultant
companies.
The Few Examples of Scalable entrepreneur
is Facebook and Uber.
The social entrepreneurs are mainly non
profit Organisations.
The Examples of Large business
entrepreneurship is Disney and Google.
Similarities
The Large business entrepreneur, small business entrepreneur, scalable start-ups entrepreneur and social entrepreneur are similar to each other as they provide job opportunities in Local as well as global market which
helps in increasing the employment rate. The Different entrepreneur work for increasing the GDP of Country and contribute their best efforts in improving the economy.

Micro and small business impact on the economy
In UK there are 5.7 million businesses from which 99.9% businesses are classified as small to medium
size businesses, they mainly have 1 to 249 staff in Organisation. The Country have 0.6% medium sized
business by carrying employees between 50-259 whereas small businesses are less than 4% having 10-49
employees in Company and micro business are of 965 carrying 1-9 employees in its business unit. Micro
business and small business contributes in increasing the growth and GDP rate of UK Economy. But Micro
businesses usually face many challenges due to its capacity and size. They mainly focus on meeting the short
term needs and fulfil their basic necessity and requirements. The Small and micro business provides a great
job opportunity to people in Local market due to which the local city economy gets boost. From research it is
being cleared that there are 64% people in UK who want to establish their own business and looking for a
driving factors of entrepreneurship. The 43.7% people want to establish business for earning more money
whereas 42.3% want to set up business in order to be their own boss. The Micro businesses are increasing in
UK which shows that the economy of Country can be increased in Future due to number of people interested
to run home based and family relation businesses. The Micro and small businesses are responsible for
increasing the UK economy by contributing 20.4%. From the research it is being revealed that 1 in 5 micro
businesses operates turnover less than £50,000 where as 235,000 micro businesses has turnover more than £1
million and average turnover of micro business is £286,879. The Small business contributes three fifths of
employment and half turnover in UK private sector. The Employment in Small business was 13.3 million with
turnover of £1.6 trillion.
From the above table it is being shown the percentage of Micro business and their numbers in UK. In North
east there are 27% of micro business where as in London there is 21.1% organisers of micro business. Thus,
Micro business and small business plays an important role in the driving the Economy of UK.
Importance of small business and Start-ups business
There are various importance’s of small businesses and start-ups business in the growth of social
economy. The Small business and start-ups businesses bring innovative and unique products and service
idea that helps in satisfying the needs and demand of Customers.
Job opportunity is one of the importance of small and start-ups business they create an employment
opportunity due to which the unemployment rate decreases. In UK small businesses provides job to more
than 16.3 million people which is around 60% contribution in job opportunities. The Start-ups businesses
also provide job opportunity to people but at small level as they establish new business in Market.
Innovation is another importance of small businesses and start-ups businesses as when they run
business they bring changes in their working style and offers unique and innovative products to people due
to which customers get attracted and sale of Organisation increases. The Start-up businesses usually
organises their venture with a purpose to provide better and innovative products and services to customers.
Satisfying needs and requirements is also an importance of small business and start-up businesses
they usually run their venture with an aim to fulfil the need and requirements of customers in order to
attract and retain moiré and more people. They run business with a purpose of making and attracting
people by offering unique products that helps in meeting the requirements of people. The Star-up business
identifying the opportunity and needs which must be fulfilled and produce the products that helps in
satisfying the demand of customers.
Contributes in Economy is another importance of Small business and start-up business by creating
job opportunities and developing new and innovative products that helps in meeting the requirements of
people. Both the Businesses contribute their best level and increase the economy of UK. They focus on
creative fresh and innovative ideas in order to differentiate their products from other competitors for
getting successful in Market.