Micro and Small Business Management in the Social Economy

Entrepreneurship &
Small Business
Management
Table of Contents

INTRODUCTION...........................................................................................................................................3
MAIN BODY.................................................................................................................................................3
P1: Examine different types of entrepreneurial ventures and explain how they relate to the typology
of entrepreneurship................................................................................................................................3
P2: Explore the similarities and differences between entrepreneurial ventures.......................................4
P3: Interpret and assess relevant data and statistics to illustrate how micro and small businesses
impact on the economy...........................................................................................................................4
P4: Explain the importance of small businesses and business start-ups to the growth of the social
economy..................................................................................................................................................5
P5:characteristic traits and skills of successful entrepreneurs................................................................5
P6:Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and
mindset....................................................................................................................................................6
P7:Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship....................................................................................................................................7
Conclusion...................................................................................................................................................7
References...................................................................................................................................................7

INTRODUCTION
Entrepreneurship is an idea of developing new business in the market so that profit of the
business can be increased and more can be earned. Entrepreneur is an person who bring the idea
of developing the new enterprise in market. Entrepreneur is basically the owner of the business
who manage and own the activities business. Development of new business in the market helps
in the growth of the economy by satisfying the needs and requirement of the business. Small
business is basically private owned business they operate to satisfy the basic requirement of the
customers they have less revenue sources because they perform small activities. In this report it
will be analyzed that how entrepreneurship and small business helps in the growth of the
economy (Kraus, 2017).
MAIN BODY
P1: Examine different types of entrepreneurial ventures and explain how they
relate to the typology of entrepreneurship
 Small business entrepreneurship: Small business management make the profitability ratio
higher and support the companies to perform their functions as effectively. They
generally hires the employees from their local workers and family members.
 Large company entrepreneurship: It involves the advanced professionalism to survive in
the field of the invention. The leaders and managers in the large companies create the
new sort of facilities that are for their consumers as according to their performance in the
field of the area.
 Scalable start up entrepreneurship: It might involves the issues and dealing that will
relates to consumers in the manner of big profit ratio in the business.
 Social entrepreneurship: An entrepreneur solves the issues and problems in the
management of business for the growth of their employees as effectively. These sort of
entrepreneurs will start to follow the non-profit sections for working as towards social
welfare.
 Innovative entrepreneurship: Invention in the corporate who are continuously offers the
new thought of ideas and perception in the business. It will targeted to the change in the
better way for the motivation in business.
 Hustler entrepreneurship: It involves the individual who work hard and tough for
accomplishing their goals or targets in the business as effectively. The manner of the
business motivate them to perform their task for set their profitability ratio that are
willing to set the various challenges in the business.
 Imitator entrepreneurship: The followers are the entrepreneurship who set their thought
of the ideas with the targeted effort to improve the orientation in the business. It is a
combination between an innovator and hustler in the business management.
Typologies of entrepreneurial ventures
It is termed that the types of the business ventures in the management that follows the various
sort of plan of actions that are as followed :