Report on Entrepreneurial Ventures, Impact on UK Economy, and Analysis

This report provides an overview of entrepreneurial ventures, exploring different types such as small, scalable, large, and social entrepreneurship. It delves into the typology of entrepreneurship, differentiating between male and female-oriented approaches. The report highlights the similarities and differences among various entrepreneurial ventures, examining their scope, objectives, and operational aspects. It then analyzes the impact of micro and small businesses on the UK economy, emphasizing their contribution to employment, turnover, and competition, as well as their role in improving the living standards of people. The report concludes with a discussion on the importance of small businesses and startups to the growth of the social economy, summarizing key findings and referencing relevant literature.

Entrepreneurial Ventures
and Entrepreneurial
Mindset

Table of Content
 Introduction
 Types of entrepreneurial ventures
 Typology of entrepreneurship
 Similarities and difference between entrepreneurial ventures
 Micro and small business impacts on UK economy
 Importance of small business
 Conclusion
 References

Introduction
Business ventures are of different types which are running their functions and
activities for the purpose of making money in various ways. Entrepreneurship
is the ability and learning capability to develop, organise, and run their
business in the changing environment. The entrepreneurs is the one who has
ability and desire to establish a business and succeed in start-up venture along
with risk entitled that can help to develop the organization and managing the
higher performance.

Different types of entrepreneurial ventures
Entrepreneurship is the main activity or classification of small, medium, and larger organization
that are running for filling the demand and increasing performance. In other words,
entrepreneurship is the source of new ideas, and innovation which used to introduce the new
products and services. The different types of entrepreneurial venture are as defined:
Small entrepreneurship:
Scalable entrepreneurship:

Different types of entrepreneurial ventures
Entrepreneurship is the main activity or classification of small, medium, and larger organization
that are running for filling the demand and increasing performance. In other words,
entrepreneurship is the source of new ideas, and innovation which used to introduce the new
products and services. The different types of entrepreneurial venture are as defined:
Small entrepreneurship:
Scalable entrepreneurship:

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 Large entrepreneurship:
 Social entrepreneurship:

Typology of entrepreneurship
Male typology: This is the main typology that is related to male and
used to run and start the business effectively.
Female typology: This is based on women empower and their needs
which can help to start up and running a business by operating all function.

Similarities and differences between
entrepreneurial ventures
Basis Small Scalable Social Large
Meaning This means a
business which can
be operate by single
person and less
people.
This involves people
who have good
skills and thinks to
bring something
new.
This means a
business which is
operating by
community and
social people.
This means number
of people who
involves in business
activities and
functions for
providing range of
products.
Scope and
development
This has smaller
scope as it do not
take any risks
(Mayled, and et.al.,
2019).
This has big scope
as it brings new
technology and
people works
collectively.
This has very small
scope as it works for
people welfare and
community for
improving their life.
Larger organization
has broader scope as
it expand its business
in other country and
develop the business
activities.
Objectives This main
objectives of small
business is to fill
needs of their
The objectives of
scalable business is
to grow their
functions and
To provide the good
health and safety to
their customers by
understanding their
To increase the
organizational sales
and profitability by
offering range of

Cont..
Similarities
Engaging and operating by human being: A business whether small,
medium, social, and large are operating by human being for offering range of
products. Without human being it will not be possible to run without people.
Aims to fill goals: Businesses are operating for the purpose of attaining their
personal and professional goals as it understand the requirement and bring the
products accordingly which can help to maintain performance .

Interpret and assess relevant data and statistics to illustrate
how micro and small businesses impact on the economy.
In UK there are different types of business which are operating for different purpose and attaining the
productivity. Micro is the generally defined as very small business which is operating by single person for
filling needs of their potential customers. This business is understanding the demand and managing the all
functions and activities.

Importance of small businesses and business start-
ups to the growth of the social economy.
Small business are those business which are running for daily life, social, and business demand
by providing products and services in the changing environment. UK is the growing and
developing country where number of businesses are existing in the form of small, medium,
and large. Small businesses are important as it contributed in social growth economy.
 Local hiring
 Turnover

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 Competition
 Increasing the living standard of people