Entrepreneurship Ventures: Types, Impact, and Growth Report

This report provides a comprehensive analysis of various entrepreneurial ventures, including small businesses, scalable startups, social enterprises, serial entrepreneurs, female entrepreneurs, and lifestyle businesses. It explores the different types of entrepreneurial ventures and their relationship to the typology of entrepreneurship. The report discusses the similarities and differences between these ventures, highlighting the impact of micro and small businesses on the UK economy, particularly in the context of Brexit. It presents relevant data and statistics to illustrate their contribution to job creation and economic growth. The report also examines the role of entrepreneurship in both the public and corporate sectors, discussing the benefits of entrepreneurial ventures and critically evaluating their scope, development, and growth. The report concludes by emphasizing the importance of innovation, risk-taking, and strategic planning in the success of entrepreneurial ventures.

ENTREPRENEUR
SHIP AND SMALL
BUSINESS
MANAGEMENT

INTRODUCTION
Entrepreneurship can be defined as a process of starting
a new business by taking financial risks and perform business
activities with the view to generate profits from the market.
The people who create these kinds of businesses are known as
entrepreneurs. In order to make the desired level of
effectiveness, more creativity and innovation successfully
ascertained to gain more targets (Devece, Peris-Ortiz and
Rueda-Armengot, 2016). In the present study, research is
conducted to focus on different types of entrepreneurial
ventures and relate the, with typology. Furthermore, it includes
similarities and differences between different entrepreneurial
ventures to gain positive results at the workplace.
Different types of entrepreneurial ventures and how it
relates to the typology of entrepreneurship
Entrepreneurship consists of important role in the
business success which demonstrates unique idea and enhances
significant outcomes in a positive way. In this way, more
profits and revenue will be successfully gained to focus on
different activities and operate them successfully in different
areas of the world (Schaupp and Bélanger, 2019). In this
consideration, the following are different kinds of

entrepreneurship venture considered at the workplace with
typology: Small businesses' entrepreneurship: Small business
entrepreneurship can be defined as this kind of
entrepreneurship that considers their operations in
unique and innovative ways. Therefore, it helps to start
work with an appropriate plan with assessment properly
to the market competition. Different businesses deal in
this kind of sector to operate successfully in different
areas of the world such as grocery, travel business,
barber shops, etc. Hence, they all possessed innovative
skills and ideas to successfully owned operations and
functions which influence several numbers of people
(Lima, Lopes and da Silva, 2015). Scalable startup entrepreneurship: In addition to this,
scalable entrepreneurs demonstrate their functions and
operations with more innovation to attract several
numbers of customers together. In order to implement
effective results, it can be stated that the favourable idea
will be promoted to get more involvement of people.
Opportunity also increases for entrepreneurs to gain
high investment and develop a positive brand image of
the company as well. In this kind of entrepreneurship
venture, a unique idea successfully promoted which
helps to deal in innovation in different products to
attract more customers (Ghio, Guerini and Rossi-
Lamastra, 2015).
 Social entrepreneurship: In this kind of entrepreneurial
venture, it can be stated that they have benefit to
provide social services in a particular community that
increase more welfare of people in a particular society.
Social entrepreneurs have no motive to earn profits and
revenue so that typology considered serve effectively in
large aspects of a social group (Schaupp and Bélanger,
2019).
 Serial entrepreneurship: These kinds of entrepreneurs
determined their performances with future-oriented
products and services. Therefore, they are looking for
unique idea and element that assists to attain effective
results at the workplace. In case of Serial
entrepreneurship, entrepreneur always makes efforts for
generating a new idea or to develop a new business.
Serial typology of entrepreneurship mainly deals with
the development of innovative products and services

that will help the business to improve the creativity at
the workplace. These entrepreneurs identify successful
operations to focus on the desired level of performance
at the workplace (Chi, Tansuhaj and Sun, 2016). Female entrepreneurs: Moreover, these kinds of
entrepreneurs demonstrate their unique idea that helps
to develop more significant outcomes and results in the
business. Therefore, they are continuously focused on
expansion in the international market with possessing
effective management skills. Dessislava Bell can be
considered as the best Example female entrepreneurs
who founded a product for helping the customers in
burning its calories and became a top female
entrepreneur by selling this product to over 1 million
people. Lifestyle entrepreneurship: Other than above
mentioned typologies, another type of typology is
lifestyle entrepreneurship in which the entrepreneur
focuses on working for promoting future development
programs that will help the business to attain overall
effectiveness. Under lifestyle leadership, entrepreneur
make efforts for handling the risks can be handled
easily and concentrate on developing the business for to
improve the personal lifestyle that help to deal with
innovative functions (Karimi, Biemans and Mulder,
2016). Peter Jones is an example of lifestyle
entrepreneurship who is considered as the most
innovative entrepreneur of the UK. Peter Jones is an
entrepreneur who is the founder of various businesses
like Wines4Businees.com etc.
Discussion on similarities and differences between
entrepreneurial venture
With respect to demonstrating different kinds of
entrepreneurial ventures, it can be stated that followings are
different similarities and differences that must be considered to
focus on innovative capabilities of entrepreneurs:
 Structure and size of the business: In a successful
entrepreneurial venture, it can be stated that small
business demonstrates customer demand and
requirements. To compare with large enterprise, SME
generally provides a unique quality of goods and
services that help to perform functions and operations
with several numbers of customers. For example,
Sainsbury, Asda considered their operations in retail

business so that functions and innovative ideas will be
successfully developed in the enterprise. In addition to
this, scalable entrepreneurship venture size and
structure which is less important from another
enterprise. Aims and objectives: With this regard, it can be stated
that each enterprise who develop their functions and
operations in an entrepreneurial venture have the aim to
increase their significant advantages with more
innovative and creative aspects. In addition to this,
better work can be promoted to earn high profits and
increase market share as well. It helps to identify great
similarities and differences in aims and objectives that
assists to deal in quality of products and services in
large consideration. Sources of finance: There is another difference is in the
firm to obtain finance with different types of
entrepreneurship firms. In this consideration, it can be
stated that it is essential for the proper arrangement of
the fund and expand operations in new areas of the
world. As compare to social entrepreneurs, to focus on
the welfare of society and not earn more profitability in
the business. Furthermore, in this aspect similarities
considered demonstrating unique idea and attain a more
desired level of outcomes.
Similarities
Lifestyle entrepreneurs: These kinds of entrepreneurs require
skilled employees and managers as to demonstrate successful
human resource management. They possess innovative features
to increase revenue and profitability at the workplace. They
considered risk capabilities in the business
Female entrepreneurs: This type of entrepreneurs looks
forward to expanding functions in international areas. Female
entrepreneurs can be from different backgrounds and have
different skills of running the entrepreneur.
Difference
Lifestyle entrepreneurs: Lifestyle entrepreneurs focus on
reward management which helps to encourage different people
to enjoy their work. They are also concentrated on lifestyle
activities which helps to gain profitability at the workplace.
Female entrepreneurs: Number of female entrepreneurs are
less as compare to male. Female entrepreneur is much
concerned with the social factors of the business.

Interpretation and assessment of relevant data and
statistics to illustrate how micro and small businesses
impact on the economy
After Brexit, UK economy and profitability get highly
affected. This is because it minimises the growth rate of the
business in large consideration. In this regard, it can be stated
that business operations and functions reduce dealing in
different countries. According to the survey, it can be stated
that 90% of the private sector generally deals in small
enterprises that help to continually development and increases
the economy growth of the UK. In addition to this, Brexit also
impacts on the large enterprise in wide consideration because
employment gets reduce which diminish the standard of living
of people. Furthermore, both micro and small business
enterprise generates the job offers in the economy of the
country. Brexit affects small and large businesses that
generally demonstrate the use of several innovations that
increase profits and revenue of the company. In this manner, it
can be demonstrated that obstacles must remove with
developing operations and functions in different areas of the
world (Gielnik, Zacher and Schmitt, 2017). As per the
statistical data, after Brexit, approximately 73% of employment
generation has been provided to the economy by small and
micro enterprises in the year 2010.
Further, due to the implication of tax, the revenue of the
Government has also been raised with the success of these
entrepreneurs. In addition to this, micro and small businesses
help to a country to maintain their growth rate in large
consideration. In this regard, it can be stated that the quality of
products and services can be successfully maintained which
helps to develop innovative functions to focus on increasing
different aspects of the business enterprise. Moreover, many
businesses are also established in the UK. In the survey, in
2014 there are 5.6 billion emerged with innovates new ideas
for the development of 70% enterprise covers that entire
market will increase their products and services in international
areas. In order to focus on the large aspects of the market, it
can be stated that the following impact on economy
considered:
Economy powerhouse: In the UK market, there is wide
development in small and micro business. This is because it
considered a number of small enterprises that increase several
numbers of services and products in wide areas of the world.

Location: In this consideration, it can be stated that small firms
and entrepreneurs find out the best way to promote services
and products in different areas of the world. In this context, a
business can be easily expanded into different areas of the
world to sell products in an online method (Read, Sarasvathy
and Wiltbank, 2016). Society: Many people of UK stated that
own business started after Brexit so that it assists to increase
the growth rate of entrepreneurship venture in large
consideration. This steps of the population after Brexit resulted
in enhancement of self-employment in the economy. Further,
they also generated job opportunity in the economy. As per the
statistical research, due to the development of a large number
of an entrepreneur, the positioning of the economy of the UK
also raised in the global market
The diverse range of entrepreneurial venture to demonstrate an
understanding of entrepreneurship in the public and
corporate sector
In order to successfully demonstrate entrepreneurship
program, it can be analysed that the entrepreneurial ventures
have a significant impact over the public and corporate sector.
They develop their performances with innovative ideas to start
and run their business with resource and planning. It results in
enhancement of the competition in the overall market. They are
responsible to take risks and reward in several sectors in
corporate and public. Business ideas usually expand with
different products and services that develop in the existing
business model. Their innovative business idea makes
businesses of both the public and corporate sector to innovate
their business operations accordingly. There is a diverse range
of benefits generated that helps to increase profitability and
significant advantages in the business (Ghio, Guerini and
Rossi-Lamastra, 2015).
In public enterprise of entrepreneurship venture
considered a different line of products which increases shares
in the stock market. Therefore, it assists to diminish liability
with several numbers of staff members with attached in the

enterprise. On the other hand, in respect to developing
functioning in the corporate sector it can be stated that
corporate field multinational operations and functions can be
successfully expanded that increase specialised products in
different areas of the world. Serial entrepreneurs generally
focus on the corporate sector which helps to develop
functioning as an innovator who starts their business in
successful consideration.
Critical evaluation of scope, development and growth of
entrepreneurial ventures
In successful operations and functions of the business,
it can be stated that entrepreneurial venture generally focuses
on the development of operations and functions in innovative
aspects. In this regard, more innovative functions ascertained
with the development of successful business in different areas
of the world (Lima, Lopes and da Silva, 2015). On the basis of
innovative aspects, it can be stated that more growth will be
determined to focuses on creativeness at the workplace. As a
result, it helps to concentrate on overall effectiveness which
would help to deal in large areas of the world. In the corporate
sector entrepreneurship, businesses need to focus on the
economy to earn more profits and revenue at the workplace. In
this consideration, the government play a vital role that
encourages different corporate and public businesses. All
entrepreneurial ventures continuously expanded their functions
that help to operate significant goals.
Evaluation of differences small, medium and large businesses
makes to the economy by using relevant data and
statistics
IN the UK, small, medium and large business
contribute their part in following aspects:
 Small business: Small businesses are generally
established with family members and their partners. In
the UK around 90% of the businesses are a small
business enterprise. They help the economy in the
generation of self employment Important decisions are

generally related to the enterprise to take plan strategy
in a successful manner. In this regard, in the local
market and target customers taken in a systematic
manner at the workplace. Small businesses are
generally useful within the country to increase job
opportunities to people (Devece, Peris-Ortiz and
Rueda-Armengot, 2016). Medium business: Medium scale firms deals in private
so that important decisions are undertaken by owners.
Generally, all the Plans are successfully established
with long term effective strategy. The medium
businesses help the economy in the generation of jobs
in the market.
 Large business: Large scale firms are deals in public
and follow specific management procedure to manage
business activities. In the UK, the number of large
businesses is quite small. A large business provides a
range of employment opportunities and profit
generation to the economy. In this regard, they play a
vital role in the development of the economy.
How important small businesses and business start-ups are to
the growth of social economy
In the UK, small and micro business are considered as
the backbone of the company. This is because it contributes to
increasing several job opportunities among several people.
Start-up develops effective strategy considered planning that
increase productivity and profitability (Audretsch and Caiazza,
2016). Small businesses assist to develop economy
performances of the country in large aspects of the market. In
this regard, it is essential to work with 250 people and gain
more profitable outcomes as well. Beside this, in start-up
businesses considered with more than 5-10 employees so that
they are working together to attain establishment of UK
development. Start-up and small enterprise contribute with
innovative ideas, adaptability, employment which assists to
increase popularity in the large areas (Gielnik, Zacher and
Schmitt, 2017). With this consideration, small businesses
generally play an important role to drive more economic
growth. Major importance can be considered in the following
manner:
 Competitiveness: Small and start-up business is useful
in the country's economy which assists to the

organisation to maintain competition level in the global
marketplace. In this regard, it can be stated that
different kinds of small businesses in the UK
successfully develop operations with using modern
technology with innovative ideas for growth and
development. In this consideration, more competitive
outcomes will be ascertained at the workplace (Schaupp
and Bélanger, 2019). Employment: Small and start-up businesses contribute
a large part which increases employability in the large
areas of the marketplace. In the UK, there are several
people get a job which ascertained with employment
which increases opportunities in small businesses.
 Economic growth: Small and start-up enterprise
determined large part in operations and functions which
provide several resources and completing different
outcomes in the enterprise. In this consideration, more
profits and revenue will be generated (Ghio, Guerini
and Rossi-Lamastra, 2015). Bill gate has helped a lot in
the development of the economy. Microsoft has
provided huge amount of foreign aids to the economy
of America. This has help to improve the health of
peoples of the country. J.K. Rowling has made
significant contribution to the economy of U.K. through
development of Harry Potter series, the investment in
foreign currency has increased.
Critical examination of the impact of small businesses on
different levels of the economy such as local regional and
national in an international context
Small business considered a large impact on the
economy which successfully develops in different ways such
as:
 Local: Small businesses target local areas with
customers to provide the best quality in different kinds
of goods and services.
 Regional: Small business focuses on culture, social and
traditional aspects of the communities which assists to
provide different kinds of facilities to accomplish needs
and maintain a relationship as well.
 National: Small businesses also deals in national areas
of the UK market to increase their business expansion.
 International: In this regard, small business deals in
international areas with export and import facilities.
Therefore, many customers are attracted from different

areas of the world to deal with innovative services and
products. It helps to increase significant advantages in
business (Lima, Lopes and da Silva, 2015).