HNC Business Unit 9: Entrepreneurial Ventures Project

This project report delves into the realm of entrepreneurship and small business management, examining various types of entrepreneurial ventures such as public, private, and voluntary entities. It analyzes their scope, differences, and similarities, while also assessing the significant impact of small businesses on the UK economy, including employment, innovation, and GDP growth. The report further explores the importance of small businesses for overall economic development and growth, highlighting the roles of innovation, creativity, and technological advancements. Additionally, it investigates how an entrepreneur's background and experience can either foster or hinder business growth, using examples like Mark Zuckerberg and J.K. Rowling to illustrate these dynamics. The analysis also includes a case study of Verdant Leisure, a growing startup in the tourism and hospitality industry, and concludes by emphasizing the critical role of entrepreneurial skills and traits in achieving business success.

Project

TABLE OF CONETNT
INTRODUCTION.................................................................................................................................2
ACTIVITY 1.........................................................................................................................................3
Scope and different types of entrepreneurial ventures.......................................................................3
Differences and similarities...............................................................................................................4
ACTIVITY 2.........................................................................................................................................5
Impact of small business on UK economy.........................................................................................5
Importance of small business for growth...........................................................................................5
ACTIVITY 3.........................................................................................................................................7
Background and experience hinder or foster growth.........................................................................7
CONCLUSION.....................................................................................................................................8
REFRENCES........................................................................................................................................8

INTRODUCTION
The small business management is widely known as one of the foremost important
topic which has been raising wider focus onto new synergy for high level focus onto new
level potential development. Verdant Leisure is one of the up growing start-up where it has
been developing strong services of hospitality and travel, tourism for wide range of
consumers market share developing high goodwill and profit paradigms. Report analyses
various growth objectives, differences and similarities along with how impact of small
business in UK economy has been developing along with importance of growth onto business
sectors. Report also further explains how background, experiences hinders or fosters growth
for vision development within small business management , and in entrepreneurs working
segments.
ACTIVITY 1
Scope and different types of entrepreneurial ventures
There are three types of entrprenuiual ventures where are highly developing as widely
important within business world and also profoundly impacting among growth objectives
with their wide scope onto various arenas with their diverse functional operation (Devine,
Molina‐Sieiro and Terjesen, 2019).
 Public companies are wide within their scope, structure of high capital investment
within its formulation for stringent efficiency advancement among operations where
the shares are also available for consumers and general public to invest in within their
trading onto open market. It can also be understood that public companies scope is
high within the business world where the technical advancement is high onto new
parameters of growth which is not only exploitatively strong but also there are wide
business development opportunities among consumers preferences for higher
goodwill development. Tesco is one of the highest public company exploding within
growth factors of functional advancement with having large consumer market

goodwill, high profits and stronger focus onto best technical advancement and
innovative production.
 The private sector companies shares are not openly traded within share market but are
available for shareholders to take individual ownership and take active participation
for construction of varied decisions. Private companies highly focus onto profitability
goals within their business functioning for technical advancement among their
objectives for construction of new innovation goals, keenly focus onto wider
paradigms with wider reflective synergy and to yield onto new parameters. The
private sector industry among business world opens up new ways for consumer
goodwill formulation with new determinants, higher functional stability of operations
in products and services (Gaskins, 2019)
 Voluntary entrepreneurs are widely known for building various innovative betterment
services for wide range of consumers within society and aims to bring on change
within society among various operations and advancement of new functional
standard. There is less focus given to profitability benchmarks of growth within
financial role and stronger stable business metrics through which wider synergy of
functional strength is operated among business ethics within their functioning.
Differences and similarities
 The similarities within the public companies and private companies are that both of
these entrepreneur focuses to build on various innovation business goals strongly
focus onto high synergy of operational synergy where profitability metrics are strong
along with consumer strength goodwill for long focused time factor. Both the public
and private firms have rapid pathways of growth with wide range of new ventures
coming on with consume focused services.
 However differences lies on the fact that private companies shares are not traded onto
open trade share market for people to invest in them whereas public share companies
enable people to invest in them. Another major factor of difference lies on the fact
that public companies do not enable shareholders to take active decision within
business functions, whereas private company’s shareholder are an integral part among
management for taking strong business functions within all operations. The private
companies use various digital marketing paradigms to reach new segments of
consumers within business world, with various new start-ups coming up within
competitive economy. Public company on other hand have high popularity within

business world onto wide range of innovative business goals, higher synergy of
operational advancement and also the shares are open for trading which makes wide
reach (Guy,2019).
 Voluntary companies do not offer wide options for varied services growth within
society for betterment and new operational growth fundamentals within business
world, where there is focus onto services growth. There is less focus onto operational
profits as focused by the various private and public companies within entrprenuiual
ventures within business world where focus is to bring in varied services based onto
development and functional stability. Differences between various parameters within
various developing aspects between voluntary companies and public, private
companies are the are more focused to bring on cultural ethics within their services
for better services.
ACTIVITY 2
Impact of small business on UK economy
The impact of small business within UK economy can be understood with the fact that
there has been wide rise coming on within establishment of new start-ups and small ventures
within various industries of UK. Verdant Leisure within is one of the most widely known
start up within UK economy in the tourism and hospitality industry where it can be analysed
that the small business boom has been gaining to bring on various new levels advancement
among operations. Impact of high employment levels among employees working scenario is
also one of the foremost operation fundamental within UK economy. The innovation within
businesses has also been widely increasing with growth of small businesses, new leverage
goals of efficiency onto new paradigms where technical advancement is also efficiently
growing among operations. Small businesses growth has also opened up various doors of
higher creativity among young minds where functional efficiency has been vividly growing
within various platforms to potentially develop new profitability within business scenario
(Kgoroeadira, Burke and van Stel, 2019). The UK country has been gaining wide increase
within GDP growth through high increase coming on rapidly with various metrics of higher
innovation , raised creativity of competitive working opportunities which also further
enhances wider working opportunities onto various of employment levels. UK economy with
new goals formulation has built on new pathways of innovation synergy with new goals
formulation within rapid factors of growth within industry development onto technical

growth factors through which diverse functional standards have been opened up. Verdant
Leisure being one of the highly growing start up within business world and exploding into
innovation business paradigms, which has opened up wide range of services which are not
only consumer focused, keenly programming new pathways of wider innovation along with
analysis of potential keen synergy of high growth.
Importance of small business for growth
The importance of small business and business start-ups within business development
and growth in social economy has been widely known as one of the best paradigm which is
potentially developing wide metrics within business world. The new innovation ,creativity
growth has been widely gaining strong preferences within scope of economy growth where it
can be also analysed that consumers have also been highly appreciating wider development,
new products and services functionally operated through new number of entrepreneurs
coming on .
 Small business growth is also widely correlated with entrepreneurs mind, new
economic parameters of development along with use of innovation in technology and
keenly developing wide paradigms of best business yield factors of growth. The small
business has also made wide development among economic parameters when it
comes to GDP growth, rise within the employment levels there has been wide
development seeing onto various goals.
 The wide importance of small business for growth within social economy can be
understood as one of the most prominent factor gaining wide pace among competitive
business world where innovation is highly appreciated, keenly leveraging new
fundamentals of growth objectives along with GDP increase. Small business
companies enable to start various new ideas, formulate capital growth among high
yield synergy factors through which economy is fuelled up with new rational focus
and wider working leverage of goodwill (Massaro, Moro, and Fink, 2019).
 Small businesses and ventures have been becoming one of the most common pathway
for programming out new goals, formulation of wider pathways and new reflective
synergy for innovation and business goals promotional factors where innovation,
creativity business goals are widely gaining strong recognition. The development of
small businesses within digital world has not only opened up strong paradigms,
pathways of productive development among various keen parameters of creativity
with economy levels but also there has been rapid development coming on among

various goals where there are wide working operations available. There has been new
level of growth among people choosing start-ups to operate their new business
horizons where there are not only new working opportunities of innovative ideas but
also technical operational efficiency has been vividly growing onto new heights.
 The small businesses are also widely effective to bring on best factors of growth
within technical advancement where consumers able to find on various productive
innovation services along with creation of new rational paradigms within business
world. Verdant Leisure is one of the highly growing startup providing customers best
travel accommodations and developing new metrics of growth with news synergy
where it is leveraging new working scenario profits onto rapid growth factors. It has
also competitively emerging as one of the best company within business industry to
attain strong goodwill and higher profit paradigms.
ACTIVITY 3
Background and experience hinder or foster growth
Entrepreneurs skills are highly important for developing strong synergy of
innovation and new end goals for technical working synergy among vivid paradigms within
companies where it can be understood that thee skills within their personality can be
understood from fact that passion, vision and dedication enable to bring innovation and
higher creativity onto their business. Background and experience have high impact on their
working scenario within their companies for developing new end metrics, building their
ideas onto new working goals through which it can be understood that yielding force of
innovations is developed based on their past work experience. The world has witnessed
various examples of best inspirational motivators within diverse industries where it can be
analysed that their are various parameters through which their efficiency levels can be
understood and how are they correlated with their past working experience, traits and
business development.
 For example: Mark Zukerberg, founder and CEO of Facebook has been widely
known for his high innovative vision, strong motivation factors of growth and to
potentially develop stronger synergy within their goals onto which new rational focus
within business has been in built. He was college dropout which made him face
various problems and work with limited funds in initial business periods onto new

working scenario where it can be analysed how various factors of background, new
ideas and continuous passion in built growth among high competitive start up world
(Mawuli and Yala,2019).
 Another example is J.K. Rowling who is world best and richest writer and started her
career from UK where she had tough starting to bring on efficiency and recognition to
her work which also develops wider efficiency within various world goals. There is
wide focus onto analysis of how her childhood hardships have been working as
hindrance for continuous development and advancement where it can be understood
that skills, new vision and keen passion enables to work onto new heights through
which new goals can be worked on.
CONCLUSION
The report concludes that entrepreneurship and small business management within
business world are highly correlated when it comes to operational efficiency, development of
new ideas and continuous vision along with passion for forming new end goals where the
technical advancement works on with new relative goals. It concludes how entrepreneurship
skills and trait are widely important for bringing on new relative development, and within
future how growth and new technical advancement shall be explored fundamentally onto new
heights for talented development. Report also concludes focus and impact of small businesses
onto UK economy for growth and working elaboration within various horizons onto new
heights, potentially bringing on deeper analysis within new heights of competitive business
world (Arko-Achemfuor,2019).

REFRENCES
Books and journals
Arko-Achemfuor, A., 2019. Capacity building in small business management for new
literates through action research. Cogent Education, 6(1), p.1643443.
Devine, R.A., Molina‐Sieiro, G., and Terjesen, S.A., 2019. Female‐Led high‐growth:
Examining the role of human and financial resource management. Journal of
Small Business Management, 57(1), pp.81-109.
Gaskins, T. J., 2019. Strategies for small business survival for longer than 5 years.
Guy, T., 2019. Strategies to improve small business sustainability.
Kgoroeadira, R., Burke, A. and van Stel, A., 2019. Small business online loan crowdfunding:
who gets funded and what determines the rate of interest?. Small Business
Economics, 52(1), pp.67-87.
Massaro, M., Moro, A., and Fink, M., 2019. Trust, control and knowledge transfer in small
business networks. Review of Managerial Science, 13(2), pp.267-301.
Mawuli, A. and Yala, C., 2019. Promoting small business and micro-enterprises.