Entrepreneurship and Small Business Management

This document discusses the different types of entrepreneurial ventures, their similarities, and the impact of micro and small businesses on the economy. It also highlights the importance of small businesses and start-ups in the business environment. The document provides insights into the background and experiences of successful entrepreneurs and examines the factors that hinder and foster entrepreneurship.

ENTREPRENEURSHIP
AND SMALL
BUSINESS
MANAGEMENT

Table of Contents
INTROUDUCTION:.......................................................................................................................3
Task 1...............................................................................................................................................3
P1. Explains the different types of entrepreneurial ventures and describes about the typology
entrepreneurship.....................................................................................................................3
P2. Distinguish between the similarities between entrepreneurship venture.........................5
Task 2...............................................................................................................................................8
P3. Examine the statistics of micro and small business impact on the economic background.
................................................................................................................................................8
P4. By elaborating in detail way the importance of small business and start ups..................9
Task 3.............................................................................................................................................10
P7. Examine the background and experience through hinder and foster entrepreneurship. 10
CONCLUSION:.............................................................................................................................11
REFERENCES..............................................................................................................................12

INTROUDUCTION:
An Entrepreneurship is the artificial body of corporate where the individual personality
having desire to enhanced his/her venture in the business environment. Through investigate
within the segmentation of the field in which the establishment of the creativity and ideas to
proceed the new business in the market. The implementation of the own capitalism as well as
owing the risk taking with to manage the company, workforce, financial funds within the
managing of the assets and liabilities that known as the entrepreneur (Bacigalupo and et. al.,
2016). In this report of entrepreneurship it involves the practises regarding of the all information
regarding with all types of entrepreneurship ventures and their similarities, describing related
with the importance related with the small business and start ups in the economic background,
apart from it by approaching two entrepreneurship to highlighted their skills and traits where to
compare their background and experiences are get to analysed its impact in entrepreneurship
criteria.
Introduction of the company:
As per the considering of the entrepreneurship topic there many successful ventures who
collectively driven of the opting the Microsoft Corporation in technology industry, where it is
most influencing and successful entrepreneurship venture owned and started by the Bill Gates
and Paul Allen at the year April 4, 1975, New Mexico, United States of America. This company
usually operates the software developer and computer hardware systematic operation related
activities through internet base, social networking media handling and corporate venture capital.
The annual earning revenue of Microsoft company $125.8 billion and total number of manpower
are 1,51,163 involves in the company premises (Burns and Dewhurst. eds., 2016).
Task 1.
P1. Explains the different types of entrepreneurial ventures and describes about the typology
entrepreneurship.
Introduction of Entrepreneurship:
The description related with the entrepreneurship is the procedure of desirable and
cycling of the business related with the own establishment by investing the capitalism as well as
the presuming the financial risk undertaken in respective of the profit acceptance (Burns,, 2016).

Entrepreneurial Venture:
The business venture is comprising of the characterised by the opting of the financial risk
within the acceptance of profit maximisation or gaining of growth business in the corporate
sector of business environment. Small business Entrepreneurship: This type of venture is comprising about the
individual started the business concept through implement the less capitalism to which
having the objective to attain the day to day targets. They are activated in the domestic
localities by optimising the better business opportunities to preparing for the wider
objective expectation.
 Large business Entrepreneurship: To having the wider sector for optimisation of the
business concept while prevails the objectives in the achieving the aspect that makes the
business more exposure and attains the high form of goodwill. The capitalism investment
is high formation and its depends upon the creativity and valuable in the outcomes
factorisation.
 Social Entrepreneurship: As in this segmentation of the business entrepreneurship it is
only forming for the betterment towards the society to improvised the social welfare as
per in terms of the environment where it does not having any motives to earning the
profits by further they are only focuses into the providing the platform for NGO, non
governmental firms are regulates in positively mannerism (Etzkowitz and Zhou, 2017).
 Scalable Start up Entrepreneurship: Its is the venture where the entrepreneur
constructed the huge business concept of new ideas that brings some sort of the valuable
outcomes featured through inherent the growth of the respective terminology within the
repetitive innovations. By making the convincing to the investors through representing
the valuable business ideas that have required the capitalism to get the enhanced of the
perform in the corporate field.
Scope of Entrepreneurial in the Corporate and public sector company:
The role of the entrepreneurship in the private and public sector venture as having scope
of opportunity and challenges to every individual personality of business faces during the
presumes of their new starts of the professionalism as in corporate filed (Fayolle, 2018).
 Private Sector venture: The influencing of the entrepreneurship in corporate as to
making the procurement of the money related investment that promotes the Business in

the profitable in nature. It termed as start-up venture by which to enhancing the
convincing towards the individual business venture as in corporate segmentation.
 Public Sector Venture: Through enforcing the government rules and regulation come
across as to providing the equality platform to representing the idea of the business as
where the policies are supports to driven the loan for business are availability in the
favour from regulatory firms.
P2. Distinguish between the similarities between entrepreneurship venture.
There is the description related with the entrepreneurial venture of the similarities around
the economic and professionalism background as well as the objectives includes with various
highlights are following below:
Similarities Social enterprise Scalable-Start up
Entrepreneurial Venture
Purpose It is the venture to making
business driven for the
development towards the
society as it get to improvised
the standard and betterment of
the environment factor or in
society.
By having the purpose of the start
up business venture are expanded
their business to deliver the better
information and gaining the high
source of platform in corporate
field to improvised their
objectives to successfully
accomplished (Frederick,
O'Connor and Kuratko, 2018).
Scale As it would access to operates
in the domestic filed of working
where they can recover all the
need fulfilment towards society.
In the initial stage it covers the
wider concept of the high scale
recovered and sustain the product
and services demand delivered in
continuous.
Characteristic On the regular basis of the
development in society
terminology as they need to
As they have very strong mission
and vision that accumulated to
achieving the vision and having

require more financial funds
aspect in which they get to
generates from the government
as well as to fulfilment of their
requiring task.
the better follows of better
financial aspect of funds to
manages all the function in
effective mannerism.
Essentials
Requirements
They resolve the issues
regarding with the society basic
problem need to improvised
towards the environment basis.
It requires the basic need of the
accomplish for the people oriented
that improvisation growth depends
upon the satisfaction of customer
factor necessity.
Contribution towards
society betterment
By providing the better issues
regarding that performs to
provide the society to
enhancing the better standard of
living facilitates.
To making uplifting regarding
towards the people expectations as
they can delivered some amount
of the customer needful objectives
are highlighted.
.
Similarities Small business entrepreneurship Large business
entrepreneurship
Purpose The main purpose of the small
business it regulates toward the
attaining the moderates market
targets accomplished and get to
sustain in the market and
approaching better opportunity get to
acquired (Hitt and Duane , 2017).
The main objective to derives
about to related with the gaining
of the business exposure of the
earning maximum profit by
enhancing managerial and
business strategic planing and
procedure to accomplish wider
scope of opportunity.
Scale By measuring to establishing their
venture regarding with local
perspective business to making the
The larger scale of business
works during in the national and
international level to gaining the

less optimum target acquired for the
better aspect of market exposure.
conceptual in the larger scale of
sources to which expand the
ideas and innovation of their
business material product to
served in overall locality.
Characteristic As their market integration to
making the recovered all the
sustainability and collectively raises
small amount of capitalism to
recovered the debts and increased
their internal and external growth for
goodwill basis.
There is requirement of their
sources of work in huge capacity
also need to require the efficient
manpower to get improvised
their business and larger scale of
operation activities. Somehow
they have to scrutinize the
information as well as the
procuring the some rate amount
of fund operates these business
scale.

Task 2.
P3. Examine the statistics of micro and small business impact on the economic background.
The factor are essentials that requires the business impact of the economic background
where the important elements plays an important role in the business perspective to highlight
macro and small business impact in the economic culture environment (Kuratko, 2016).
Introduction of Micro and Small business.
 Macro Business: As it is the low scale of business that having very less investment
criteria and the operates by the low productive workforce of 5-12 people are with
manager who basically regulates around the one million US dollar above reveneue
generates and performs in the strengthen way.
 Small business: In this business that comprising about the moderate amount of upto 30
around employees are proceeds to generates the revenue of 6 millions pounds. They are
established in the lower traits of business by which they evolutes the employment to
improves the economy balanced (Monitor, 2016).
Contribution of Micro business in United Kingdom:
The influencing feature of the micro business generates the vast opportunity of economy
and enhanced the growth in the competitive business environment, where to accumulates the
employment generates while allocating the optimum needful job in small sector of region in
aspect to driven of the performing better way to gaining more opportunities motives. As in UK
perspective they are highly activated to delivering their effective performances where other form
of moderate business get little effected.
Promoting the innovation and growth: In the Micro business aspect with the creative and
business ideas to enhanced the excellence form of business ideas and innovation that improves
the United Kingdom business market which will automatic integrate the growth of economic
aspect by which people will easily gain the market advantages as well as improvisation of
internal structure.
Influencing aspect to Small business in United Kingdom.
By contributing of Tax: As in the preference of United kingdom having the many company are
reliable to pay the contribution of reduction the uncertainty due to governing power to supports
in financial factor. Some of limited small business are free from the tax services and insurance

aspect (Nambisan, 2017). Though contributing a part of the profit corporation tax incurred 19-
20%. The United Kingdom are basically quarterly tax pay scheme where the small business are
pay tax accords to the income or revenue generates purpose.
Contribution in reducing unemployment: Small business imparts above 1000 jobs to the people
by last 2021-2022. and that adds the £1.2 billion in the economy of the UK. With that drive 70%
growth in private sector and has the positive impact on growth of economy as many are start ups
company would get driven out of providing the better employment rate through small business to
improvised the economy background (Parker, 2018).
P4. By elaborating in detail way the importance of small business and start ups.
To highlighting the importance of the small business as well as the start ups venture in
the social economy criteria by optimising enough factor of opportunities in financial and
economical aspects are follows:
Importance of small business in UK economy based:
 Enhanced the power of buying to the people: Through the presence of the small
business perspective they are highly motivates to the customer who does not having
enough buying capacity through market where small business has changed the conceptual
in United Kingdom people as they are forming and enhanced the better quality product in
the economic price by which people who are moderate buying capacity can easily afford
their product that would also integrated the economic in positive influence aspect.
 Competitive stability: By having the medium scale of the business entrepreneur through
small business enhanced their better competition to other venture that regulates through
moderate scale of capitalism and provide the greater platform in competitive business as
in terms of product specification and market share perspective (Read and et. al ., 2016).
Importance of Start up venture in United Kingdom based:
 By facilitating more Jobs: To making the creativity vision of the analysation of the
economic background of the start up in United Kingdom aspect to influence the people
who are deliberate keen to searching for jobs where start up are temporarily based by
which they provided low scale of wages but that improves the economic factor in the
positive mannerism.

 Creates the better standard of the living: By accumulating the better market research
conduct for analysation for the predicting the trending and needful resource which are
required to gain the market exposure and also mapped the customer behaviour related to
product, through investment in United Kingdom economic background to manufactured
the product which is highly in demand in economic scale of pricing to which people can
easily afford it and it some how raised the growth towards the economy consideration.
Task 3.
P7. Examine the background and experience through hinder and foster entrepreneurship.
The description of the successful entrepreneurship to evaluating their behaviour and traits
are presuming to analyse the background and experiences are highlighted in the prevailing of the
two successful entrepreneurs though opting from the United Kingdom basis famous entrepreneur
s are Philip Green and Mary Perkins
Information About the entrepreneur.
Philip Green: He is the famous British Billionaire entrepreneur and businessman as well as the
chairman of the Arcadia group which is retail company venture that allows the high clothes and
other form of products are makes to available in the Burton.
 Background: Philip Green was born in 15 march 1952 in Croydon, Surrey, as he belong
s to the middle class family background. He had completed this schooling career through
Jewish boarding school Carmel College in Oxfordshire. When he was 15 age his father
died due to heart attack and then he left boarding school (Storey ed., 2016).
 Experience: At the age of 21 he has setup his first venture by relating of the jeans wear
from the far east to sell on the London retailers as he had took the loan of 20,000 pounds
loan. In 1988, he became the chairman and chief executive related to the Amber Day
company which is retailer business oriented. He joined in politics as he came through the
support of David Cameron. As now he operates his own business called Arcadia Group .
Mary Perkins: She is the based British Entrepreneur of the co-founder of the Specsavers
company which is dealing with the high British Retailer in the Optical featured chain as her

family now they have owned privately in 1984. In 2007 it was largest form of the private optica
business in the world to procure the 900 stores the United Kingdom.
 Background: Mary attended Fairfield Grammar School in Bristol. She went to the
Cardiff University to train the optimistic (Hitt and Duane, 2017). She get later married
with the guy Doug Perkins and both had established their in Bristol at the year of 1960s.
This was the chain of opticians business to providing the lens and specs for customer.
 Experiences: She had starred her venture within her husband Specsavers in Guernsey at
the year of 1984. she is the founder at present and her company has provided world best
opticians as well as to overseas the business had annual turnover is 1.5 billions pounds
where the over 30,000 staffs are joined to work effectively in the present market in
United Kingdom, Australia and Europe.
CONCLUSION:
In the above report of brief summarisation related with entrepreneurship and small
business management to delivered the factor, importance as well as differentiate between
entrepreneurial venture are significance factor that describes in types of entrepreneurship
business company to representing the featured of the venture types and after that to forming their
differentiate between them. By reflecting the major role and importance of the Macro business
and start up venture in United Kingdom based economy along with small business factor
influence in the social economic background of the British region. At last the detailed description
regarding with the entrepreneurship in UK based entrepreneurs opted are performing
successfully by highlighted their background and experiences which makes having impact in the
Entrepreneurship area.

REFERENCES
Books and Journals
Bacigalupo, M., and et. al., 2016. EntreComp: The entrepreneurship competence
framework. Luxembourg: Publication Office of the European Union. 10. p.593884.
Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan
International Higher Education.
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Etzkowitz, H. and Zhou, C., 2017. The triple helix: University–industry–government innovation
and entrepreneurship. Routledge.
Fayolle, A., 2018. Personal views on the future of entrepreneurship education. In A research
agenda for entrepreneurship education. Edward Elgar Publishing.
Frederick, H., O'Connor, A. and Kuratko, D.F., 2018. Entrepreneurship. Cengage AU.
Hitt, M. and Duane Ireland, R., 2017. The intersection of entrepreneurship and strategic
management research. The Blackwell handbook of entrepreneurship. pp.45-63.
Kuratko, D.F., 2016. Entrepreneurship: Theory, process, and practice. Cengage Learning.
Monitor, G.E., 2016. Global entrepreneurship monitor. Empreendedorismo no Brasil (Relatório
Nacional). Curitiba: Instituto Brasileiro de Qualidade e Produtividade, Paraná.
Nambisan, S., 2017. Digital entrepreneurship: Toward a digital technology perspective of
entrepreneurship. Entrepreneurship Theory and Practice. 41(6). pp.1029-1055.
Parker, S.C., 2018. The economics of entrepreneurship. Cambridge University Press.
Read, S.,and et. al ., 2016. Effectual entrepreneurship. Taylor & Francis.
Storey, D.J. ed., 2016. Entrepreneurship and New Firm: Theory and Policy. Routledge.