P5. Characteristics traits and skill of successful entrepreneur

Unit 9

Table of Contents
INTRODUCTION...........................................................................................................................2
Activity 1.........................................................................................................................................2
P1. Different types of entrepreneurial ventures..........................................................................2
P2. Similarities and differences between entrepreneur ventures................................................3
Understanding entrepreneurship for corporate and public sector..............................................4
P3. Interpret and assess data of impact of micro and small business that impact of economy...4
P4. Importance of business start up and small business in growth of social economy...............5
Difference of small medium and large business........................................................................6
Activity 2.........................................................................................................................................6
P5. Characteristics traits and skill of successful entrepreneur....................................................6
P6. Reflection of motivation and mindset of entrepreneurs by the personality of entrepreneur.
.....................................................................................................................................................8
P7. Hindrance or fostering of entrepreneurship..........................................................................9
Link among background and experience with characteristics..................................................10
Conclusion ....................................................................................................................................10
REFERENCES..............................................................................................................................11
Books and Journals...................................................................................................................11
Online .......................................................................................................................................11
The importance of small businesses in the UK economy.2017(ONLINE ) Available
through :<https://smallbusiness.co.uk › Starting a Business › Advice>........................................11

1

INTRODUCTION
Entrepreneurship is a process to develop organize and manage a business venture along
with any of its risks in order to make profit. Through this process entrepreneur start new business
and create new ideas (Venkataraman, 2019). Entrepreneurship is a booming and is very
productive for the economy as well. This report will be cover different types of ventures and
typology of entrepreneur. It will also include similarities and difference between types of
entrepreneurial ventures. Data about effect of small business on the economy of UK. This report
also will be include skills, characteristics and traits of entrepreneur and their personality reflect
the motivation and mindset of entrepreneur.
Activity 1
P1. Different types of entrepreneurial ventures.
Entrepreneur is individual who start to new business venture through create effective
ideas. They bear all profit and losses. Entrepreneur visualizes an idea and by checking it viability
converts it into a successful business.
Intrapreneur ship is a system, and they also follow entrepreneurship in business. Both are
different because entrepreneur is a owner of organization and intrapreneur is a employee of
organization.
Different types of ventures :-
Micro enterprise :- in this venture, entrepreneur has to employ minimum 10 employees
in organization and turnover less than €2 million. This venture includes quick stop that is a local
comer store.
Small enterprise :- it includes 10 to 15 employees and its turnover is above €2 million
and less than €10 million. Example gokyuzu Turkish restaurant.
Medium enterprise :- this venture includes 50-250 employees and turnover of above €10
million but less than €50 million.
Large enterprise :- this venture provide employ to 5000 employees and turnover must
have an more than €1.5 billion and balance sheet more than €2 billion.
Entrepreneurial typology :-
2