Entrepreneurial Ventures: Types, Economic Impact and UK Examples

This report explores various types of entrepreneurial ventures, including small business ventures and social ventures. It examines the objectives, value, and similarities and differences between these ventures. The report highlights the economic impact of small businesses in the UK, supported by government initiatives and the contributions of female entrepreneurs. Furthermore, it discusses the importance of small businesses and startups to the growth of the economy, including their roles in employment, production, and innovation. The analysis also covers the opportunities created by the state to develop a robust social economy and its enduring relationship with economic and social foundations. The report emphasizes the significance of these ventures in providing both skilled and semi-skilled workers, driving industrial expansion, and contributing to overall GDP growth.

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Entrepreneur is someone with the underlying skills and
knowledge to take the lead in switching current ideas to future
needs. Business Ventures appear after taking risks to make a
profit. Entrepreneurial ventures grow by starting with idea
generation, starting a business and moving to sales and
marketing strategies. Entrepreneurship isn't just about profit,
it's about business success and growth. After taking risks,
explore various opportunities. They start their business in
small quantities and with limited resources to meet their basic
needs. The types of start-up ventures are as follows:
Small Business Ventures: These ventures are started in small
quantities due to the existence of limited resources. Funds are
collected by taking loans from friends and family to meet
basic needs. For example, cookware stores and grocery stores
that usually have very few natural systems. Instead of
focusing on making huge profits, they start businesses to
survive and meet the basic needs of society. The money they
invest in their business is not large, so they need to have a
proper plan that will bring maximum profits. Customers have
the advantage of being able to use a variety of products in a
wide range and increasing their purchasing power.
Social Ventures: This type of venture is conducted to work
for social welfare. The main purpose of these ventures is to
fulfill social responsibility, not profit. These ventures are
launched to provide people with a good lifestyle and a better
standard of living. They think they want to solve the problems
of the poor by offering cheaper products.
Typology of Entrepreneurship Related to Start-up Ventures.
 Copycat Entrepreneurship
 Research Entrepreneurship
 Determined Entrepreneurship
 Successful Entrepreneurship
Objective Small ventures earn basically incorporated to
generate income so that they can achieve basic or everyday
success for businesses. needs. They are using society's
resources to build a strong foundation. Integrate social
ventures for social welfare by offering cheaper and more
rational products. They invest social resources to provide
innovative products.
Value Small-scale ventures want to solve business problems
by offering qualitative products at low prices or at a reasonable
rate. They employ all the ways they can make their business
successful. Social ventures are doing all of these things
because they wanted to create the right balance between the
different social classes of economy. They meet their needs,
providing poverty equal to those in the middle.
Interpret relevant data and statistics to illustrate how micro and
small businesses impact on the economy
It is observed that the number of small businesses in the UK is
increasing . The government is also supporting the growth and
development of these businesses, as it provides jobs for most of
the unemployed who survive in the country. Many female
entrepreneurs seeking support from governing bodies are
investing their money in building new businesses. For example,
among the well-known women entrepreneurs are Sarah Willy
Hamm, Holly Tracker Jo Malone MBE and Holly Tracker,
who started small businesses in the UK and are now active at
national and international levels. This woman is doing so for a
large profit in return. In addition to this, employment is created
by them specifically for groups of women.
Entrepreneurial ventures
Different types of entrepreneurial ventures Similarities and differences between
entrepreneurial ventures
It defines the effective contribution of various businesses,
including social, economic mortgage associations, buildings,
community groups, trade unions, charitable sports associations,
and insurance mutual self-help groups. It is generally designed to
advance a variety of social enterprises where many opportunities
are enhanced across the UK. It is also concerned with the
enduring relationship between the economic and social
foundations of a society. Small businesses and ventures can gain
both skilled and semi-skilled workers, which is the future of the
country's industrial expansion. The high growth of new
businesses has exceeded sales growth, which is the largest
contributor to overall GDP. There are certain opportunities
created by the state to develop an appropriate social economy,
which is explained as follows.
Employment Production
Innovation:
To connect more people
Importance of small businesses and business start-
ups to the growth of the economy.