Entrepreneurship and Small Business Management

ENTEREPRENURE SHIP
AND SMALL BUSINESS
MANAGMENT

Table of Contents
INTRODUCRION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Types of entrepreneurial ventures and relation of it with typology.......................................1
P2 Similarities and differences in entrepreneurial ventures........................................................3
TASK 2............................................................................................................................................4
P3 Statistic and its impact in micro and small business over economy......................................4
P4 Importance of small business and start-up over growth of social economy..........................6
TASK 3...........................................................................................................................................7
P5 Skills, Traits and characteristics of successful enterprisers...................................................7
P6 Aspect of an entrepreneurial and personality motivation....................................................7
TASK 4............................................................................................................................................8
P7 Background and experience that can hider or foster entrepreneurship.................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
.......................................................................................................................................................12

INTRODUCRION
Entrepreneurship is the way in which a business is setup and run. This introduces new
ideas that helps in growing of business. It is done with sheer motive of earning profit and making
best out of a business (Akehurst, Simarro and Mas‐Tur, 2012).The person who bring this ideas
into action for the purpose of introducing a new and unique business is called as entrepreneur.
These strategies and ideas also gives an important contribution in uplifting economy of a
country. As these business enterprises helps in generation of job and tax payment to the
government which is used for the welfare of society. The given project is based upon importance
and support provided to a start-ups that is further explained in the report with advantages and
disadvantages. Impact of small business in the growth of an economy is also covered after
Brexit.
TASK 1
P1 Types of entrepreneurial ventures and relation of it with typology
Entrepreneur are those types of individual which opens a business of new nature. They
provide goods and services to people in exchange of money. An entrepreneur venture is that kind
of business that is formed in order to earn money and profit which improves their living
standards. Purpose of forming these kind of business is to fulfil entrepreneurs own motive. These
are divided on the basis of there size, scope and services. Over these only various entrepreneurs
are formed (Audretsch and Caiazza, 2016).
Entrepreneurial Activity: These are those activities that helps a business to create its
value in the market and generate economic worth of themselves. These ideas are there for the
enhancement of development and growth of an business. This is to be achieved by formation of
new and unique type of ideas. The ideas create and is applied in an business to provides goods
and services. Ideas of these types helps in generation of employment in local market in which the
business is running.
Various Types of Venture: There are three types of venture and are explained below:
Serial Entrepreneur: In these kind of venture there are various employees, amount of
capital is more, operations and size of the business is large. The formation of these ventures
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leads towards profit earning which is done in return of products and services provided by an
company.
These ventures are very narrow in its scope and size. As they operate only in the local
market and by one person. The organisation under small scale is formed by using either sole
proprietor ship or by partner ship. Organisation of these kinds consist of 50 members. They help
in of gaining profit and livelihood for a person or public at large. Net worth of these
organisations is two million euros . people like Pierre Omidya is an example of such
entrepreneur ship (Bennett, 2014).
Social entrepreneurship: They are those types of organisation which are formed for
fulfilling of development and enhancement of society. The ideas of these companies is used by
society for the purpose of its growth and development. Companies of these kinds has a very
wider scope which creates opportunity towards increasing of living standards. Their main motive
is not earning profit. Operation of these business is at local level and gives a very important
contribute towards economic development. Examples of this are JC Denim and Korchet kids.
Female entrepreneurship: These are those women that run a particular business and
organisations. They have increased at very high rate in UK. In these kinds of enterprise the
business is started and run by a women. It is there for earning profit and establishing business at
global level. These organisations are formed for providing employment and business is managed
by a women independently. Example of this are Gabriel Hersham (Burrows, 2015).
Various typologies are used in an entrepreneurship venture that is related to business and
its development. Theses are there to increase efficiency in a business. Some of the typologies are
explained below:
Enterprises life style: Enterprises of these kinds is formed in order of improvement
towards the lifestyle of people of the country and area in which a company is doing its business.
They impacts the lifestyle of people by helping them in job generation and giving employment to
them. There product and services makes it easy and enhance the living. It come under social
enterprise.
Growth in businesses: A companies growth depends upon the maximum earning of
profit and generating of revenue. The entrepreneur in these kind of organisations introduce new
types of ideas which are unique in nature and helps in increasing of productivity in an business.
They are brought into existence in order to satisfy the customer and fulfil the demands made by
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