Importance of Small and Start-up Business in the Growth of Social Economy

Unit 9 Entrepreneurship
And Small Business
Management Inbox

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Analysing various types of entrepreneurial ventures which are related with typology of
entrepreneurs................................................................................................................................1
P2. Describe the similarities and dissimilarities of the entrepreneurial ventures.......................2
TASK 2............................................................................................................................................4
P3. Interpreting and assessing relevant data and statistics in order to impact micro and small
business........................................................................................................................................4
P4. Explaining the importance of small and start-up business in the growth of social economy
.....................................................................................................................................................6
TASK 3............................................................................................................................................7
P5. Analysing the characteristic or traits and skills of successful entrepreneurs to differentiate
from other business managers.....................................................................................................7
P6. Aspecting the entrepreneurial personality which reflects motivation and mind-set of
entrepreneurs................................................................................................................................8
TASK 4............................................................................................................................................9
P7. Analysing the background and experience of entrepreneurs to hinder or foster upon
entrepreneurship..........................................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
The Entrepreneurship is referred as process to run a business with the motive to achieve
organisation goal and objectives that leads to accomplish success. The entrepreneur has
capability to undergo business on its desired target which leads to sustain in competitive market
for its growth and stability (Adamowicz and Machla, 2016). This project is based upon the
entrepreneurship and small business in analysing the ventures of entrepreneurs which are related
with typology. It further determines similarities and dissimilarities of enterprising ventures. This
project assess the relevant data and statistics in order to impact micro and small business
followed by the importance of small and start-up business in growth of social economy.
Additionally, it analyse the characteristics, skills and entrepreneurial personality which
differentiate from others and motivates them to perform with that mind-set. Apartly, with that it
analyse the hinder or foster of entrepreneurial background and experience which leads to achieve
success.
TASK 1
P1. Analysing various types of entrepreneurial ventures which are related with typology of
entrepreneurs
Entrepreneurial Ventures:- This is described as the process to develop innovative idea
which creates competitive advantage in order to produce its value either economically or socially
(Cherkesova and et.al., 2018). This is the capability to compete with rivalries that leads to sustain
in competitive market. There are four types of entrepreneurial ventures which are described as
under:-
 Small Business:- This is the entity which is organised by privately owned entrepreneurs.
They form the business through partnerships, sole proprietorships, etc., which focus on
achieving their targets through maximisation of profit and wealth. Example:- Airdri,
Marshfield Bakery, etc.
 Scalable start-up business:- It is the ability to compete with competitors through their
innovative idea which leads to attain high growth and profitable company. These
business creates ideas for long term goal accomplishment by entering large market with
rapidly growing. Example:- Cocoon, Bizzby, etc.
1