Entrepreneurship and Small Business Management

Entrepreneurship and Small
Business Management

INTRODUCTION
Entrepreneurship is stated as willing to develop, plan, and operate creative venture. The
risk and profit is shared completely managed by the owner. This type of business are innovative
and are in small size. Governing bodies of the nation should initiates entrepreneurs because they
largely contribute in raising national economy as well as generate huge job opportunities for the
society people (Ayandibu and Houghton, 2017). LNS recruitment is undertaken to complete the
project. This firm is bespoke recruitment solution for both short and long term requirements.
Company aim is to deliver the best nominee in order to full-fill each diverse and distinct
position. It is located in Basingstoke RG25 2BS, United Kingdom. This report covers various
kind of entrepreneurial business and how they are affiliated to typologies. The similarities and
differences between entrepreneurial ventures are studied in order to better understand their
concept. With the help of diagram explain is examined that how macro businesses impact
economy in both positive and negative way. The traits and skills of two businessperson are
studied to understand how this differentiate from other business manager.
LO 1
P1) Illustrate different kind of entrepreneurial business and how they are associated with
typology of entrepreneurship.
Entrepreneurial ventures is explained as organisation which places innovation so as to
produce economic or social values. They directly or indirectly raises overall economy of the
nation that leads in raising living standards of the people which is a positive mark for the
business (Ateljevic and Page, 2017) The several kind of entrepreneurial businesses are
mentioned under:
Small size venture: This kind of venture operates at local area where not more than 250
employees are working in a firm. Small size venture focus more on providing quality products
to the customers as they believe in binding customers for longer time span. As this type of
business requires less funds for operations which leads in providing more opportunities to
financially weaker section. The owner of small scale business focus on gathering huge profits
from the consumers.
Large size venture: In the open market place this type of venture requires huge funds
and resources so as to operate business activity smoothly. They mainly focus on innovating
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