Explore and illustrate the range of venture types that might be considered entrepreneurial

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Entrepreneurship and Small Business Management
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ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT
Contents
Task 1:.........................................................................................................................................................3
LO1: Explore and illustrate the range of venture types that might be considered entrepreneurial...............3
P1: Carry out a mini research to examine various kinds of entrepreneurial ventures and explain how
they relate to the typology of entrepreneurship........................................................................................3
P2: As part of your research investigation, explore the similarities and differences between
entrepreneurial ventures..........................................................................................................................5
Task 2:.........................................................................................................................................................8
LO 2: Assess the impact of small businesses on the economy.....................................................................8
P3: Assess and interpret relevant data and statistics in your mini-research, to illustrate how micro and
small businesses impact on the economy.................................................................................................8
P4: Explain how important small businesses and business start –ups will contribute to the growth of the
social economy after ‘Brexit.'................................................................................................................10
Task 3........................................................................................................................................................12
LO 3 Determine and assess the key aspects of an entrepreneurial mind-set..........................................12
P5 Characteristics, traits, and skills of two successful entrepreneurs.....................................................12
P6 Aspects of the entrepreneurial personality, reflect entrepreneurial motivation and mindset.............14
Task 4........................................................................................................................................................15
LO4 Different environments that foster or hinders entrepreneurship.....................................................15
P7 Effect of background and experience of entrepreneurship................................................................15
Reference...................................................................................................................................................18

ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT
Task 1:
LO1: Explore and illustrate the range of venture types that might be considered entrepreneurial
P1: Carry out a mini research to examine various kinds of entrepreneurial ventures and explain
how they relate to the typology of entrepreneurship
Wander is a making society that starts the need of collaborating among the new business-master
minded newcomers and future business visionaries. It is particularly vital that the need of the
financial change is a climbing point of view that wants to endeavor the movement in the division
of self-declared and making business bodies be it little scale or massive. The entrepreneurial
progress is an essential section of which depends on the target motivation for driving
neighborhood headway, exhibit day change, and time of business. It is to be viewed as that the
specialists as seeds of the movement of the firm and in this manner, alongside growing up
attested capitals, it gives an enormous open portal for the other standard subjects to get into work
that further outcome in the change of the economy of the nation. The per capita pay, the way of
life and pay get-together of the Association increments with the augmentation in the mechanical
progress of the country by the technique for the significant business change.
An Entrepreneur is a person who begins and maintains a business with constrained assets and
arranging, assessing every one of the dangers and prizes of his or her business wander. The
business thought is normally another development, item or administration, as opposed to a
current plan of action.
Entrepreneurial ventures require the ambitious individual to organize capital, crude materials,
fabricating areas and gifted workers important to create a decent or offer an administration.

ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT
Advertising, deals and appropriation are other vital perspectives which are controlled by the
business visionary.
An industry visionary is a word that is gotten from the French dialect, a verb "enterprendre,"
signifies 'to embrace.' Enterprises are attempted by business people, and the procedure of
creation is named as the enterprise. The rationale of business visionaries is to discover something
new and imaginative submit to its type of business for serving better and producing higher
benefit potential outcomes alongside going out on limb elements.
Figure 2: The four model of corporate entrepreneurship
(Source: Wolcott and Lippitz, 2007)
Entrepreneurial attempts are revolved around the organization's guiding for the mid-sort out and
early masterminded associations. Meandering expects to reveal out in danger zones and
entrepreneurial ventures like this, relates to the way that businesspeople chance their odds in the
open market and do fundamental needing to make their attempt survive and turn out effortlessly.