Entrepreneurial Ventures: A Comprehensive Business Analysis Report

This report provides a comprehensive analysis of entrepreneurial ventures, exploring various types of businesses such as small businesses, large enterprises, scalable businesses, and social entrepreneurial ventures. It examines the similarities and differences between different entrepreneurial ventures, focusing on decision-making, market segments, objectives, employees, and management structures. The report also delves into the impact of micro and small businesses on the economy, particularly in the UK, highlighting their contribution to employment, innovation, and overall economic growth. Furthermore, it discusses the importance of small businesses and start-ups in fostering social economy, emphasizing their role in innovation, job creation, and community development. The report also explores the traits, characteristics, and skills of successful entrepreneurs, along with the influence of entrepreneurial personality and background on motivation and practice. The analysis includes data on the impact of SMEs, local, regional, national, and international levels. The report concludes with a discussion on the need for government support for small businesses to ensure their growth and sustainability.

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Table of Contents
INTRODUCTION......................................................................................................................2
MAIN BODY.............................................................................................................................3
TASK 1.......................................................................................................................................3
P1 Discuss several forms of entrepreneurial ventures and analyse how they relate to
typology of entrepreneurship.................................................................................................3
P2) Similarities as well as differences between different entrepreneurial ventures...............4
TASK 2.......................................................................................................................................6
P3) Examine data & explain effect of micro as well as small businesses on economy.........6
P4) Analyse need of small business and start-up’s in growth of social economy..................8
TASK 3.......................................................................................................................................8
P5) Discuss different traits, characteristics and skills of successful entrepreneurs...............8
P6) Explore way in which entrepreneurial personality reflect entrepreneurial motivation/
mind set................................................................................................................................10
P7 State examples to show how background & experience affect entrepreneurial practice
..............................................................................................................................................12
CONCLUSION........................................................................................................................14
REFERENCES.........................................................................................................................15
Books & Journal:..................................................................................................................15

INTRODUCTION
Entrepreneurial environment is to be defined as stages of the organisation which
consist of big medium and small which have to operate in environment (Audretsch, 2019).
Main aim of this report is to critically understand the importance of managing entrepreneurial
small business within environment. Newmoon which is the charitable organisation that helps
start up enterprises in community and society to secure loans with angel investors. Main
motive of company is to help the society and community and fulfil their needs. This report
comprises of several kinds of entrepreneurial ventures and typology, similarities or
differences between entrepreneurial Ventures, data of micro/ small business impact on
economy, importance of small business and start up, characteristics traits and skills of
entrepreneur as well as business manager, entrepreneur real personality, mind-set and
motivation.
MAIN BODY
TASK 1
P1 Discuss several forms of entrepreneurial ventures and analyse how they relate to typology
of entrepreneurship
In market there are different types of enterprises and accordingly they execute their
business activities functions and operations. The scope development and growth of
entrepreneurship Ventures depends upon their level of operations and functions carried out by
them within market. So, different types of entrepreneurial Ventures are discussed below-
Small business entrepreneurship- These are those types of businesses which are run
by small size of employees and owners itself. In small organisations the risk associated is
also low and also profitability too low. These type of are being carried out businesses are
mostly carried out by families, friends etc. There only motive is to survive in the market for
their survival. For example small shops, salons, cafes, restaurants are being considered under
small businesses (Biradar, 2018).
Large entrepreneurship- Large organisations are those who have a global business
around the world and execute their business operations at worldwide. For example Amazon,
Tesco are to be viewed as a last business enterprise. These types of organisations profitability
are higher and also risk is wider. An employee in large businesses also located at different
countries and operates virtually as well as physically.

Scalable business- Scalable business are one who innovate, invent something new in
market with purpose of introducing new product and services. Their main motive is to reduce
the production methods and products and promote new ideas so that new opportunities are
being accessed appropriately. For example Sony, Apple and Samsung are some of the scalable
businesses who focus on innovation and inventions.
Social entrepreneurial venture- These are kind of Ventures whose main purpose is
to provide welfare to both society and community at all aspects. Their main focus is on
helping the individual and making ensure about that you do not face any problem in market
and their all needs are fulfilled. For example New moon, NHS UK comes under social
entrepreneurial Ventures (Castillo, 2018).
Various kinds of typologies of ventures are described below-
Aggressive growth ventures- These are the kind of a Ventures who uses innovative
approaches and techniques to deliver new product and services within public and to
customers. Which types of organisations are being launched with a particular amount of
capital and accordingly further processes are carried out.
Lifestyle venture- These are those types of venture who run businesses with aim of
delivering quality of services and products to the customers so that they are able to increase
their living standards. In steps of companies amount of investment capital is low.
Manages growth venture- These are defined as kinds of enterprises in which they
aims at exploring business at global level to achieve higher growth. So, they are able to target
both International as well as national market and accordingly make decisions.
P2) Similarities as well as differences between different entrepreneurial ventures
Factors Decision
making
Market
segments
Objectives and
goals
Employees
Small
enterprise
& Large firm
Similarity-
Small and large
enterprise both
execute their
decision making
with proper
market research
and
analysis(Furest,
2017).
Similarity
Small and large
enterprises both
segment their
market on the
basis of different
factors on the
basis of which
they are able to
properly target
audience.
Difference
Small market
Similarity
Main objective
and goal of both
these enterprises
us to survive in
market and earn
profit.
Difference
Main goal and
objective of
small enterprises
is to carry on the
marketing
activities
without facing
Similarity
In both
enterprises,
employees work
for the
organisations
and have to obey
the rules and
regulations of
superiors.
Difference
Employee size
in small
enterprise is not
more than 10

Difference –
In small
organisation
decision making
is being done by
owner itself
without
consulting to
anyone whereas
large enterprise
focuses on
maintaining
decision making
by consulting
with every
stakeholder.
mostly segments
their market on
niche area.
Whereas large
organisations
segment their
market at global
level (Goyal,
2018).
problem.
Whereas, main
goal and
objective of
large enterprises
is to achieve
higher
profitability and
by facing risk.
and in large
organisation
employee size is
more than 500.
Scalable and
social firms
Similarity
Main similarity
between these
enterprises is to
provide and help
community as
well as society
so that
development
and growth is
achieved.
Difference –
Difference
between these
two enterprises
that scalable
organisations
help community
and society in
terms of
providing new
and innovative
product so that
they are able to
use new things.
In comparison
with social
venture they
help society and
community in
terms of health,
environment and
other factors.
Similarity
Both scalable
and social forms
segment their
market where
customers’
needs are
required to be
fulfilled at every
aspect.
Difference –
Main difference
between this
organisation is
that is scalable
businesses
segment their
market on basis
of demographic
factor where as
social Ventures
segment their
market relying
upon geographic
factor (Hagqvist,
2020).
Similarity
Both this
Ventures main
objectives and
goals is to
increase the
Goodwill of
firm by
providing
growth to
society and
individuals and
maintain
positive
relationship with
each other.
Difference –
Scalable
businesses main
goal is to help in
community as
well as society
but developing
the new product
and innovation.
In comparison
with social
organisation,
main goals and
objectives of
enterprises to
increase self-
awareness and
mutual
Similarity
Both this
enterprises have
limited
subordinates and
members within
management.
Difference –
Scalable
organisations
have employees
weather around
100- 20. In
comparison with
social firms they
have volunteer’s
employees and
practitioners.

coordination
among the
people.
TASK 2
P3) Examine data & explain effect of micro as well as small businesses on economy
Small and micro businesses are most important part of economy of a country without
which it is not possible for that particular country growth and development. It is often seen
that in United Kingdom small and micro enterprises was contributes to the development of
economy at higher level. Main purposes of both these sectors are to provide products and
services of high quality within market and to the customers so that their needs are fulfilled
and higher satisfaction level is achieved (Hu, 2019).
This is analysed that employees are mostly rely on SME’s and accordingly needs &
demands of customers are fulfilled at all aspects. Moreover, it is too seen that in United
Kingdom most of resources & suppliers are existed in SME’s. Further, with change time
interval, ratios of businesses have been increasing in country at higher level. According to
research, it is determined that development or growth of economy relies on these both small
as well as medium firms.
From above explained paragraph, small medium man log into prices directly impact
upon United Kingdom economy. 62% of SMEs in UK carry out their business activities by
every season which produces higher profit to economy of a country. Contribution of both
small and medium enterprises is essential to determined so that government can also provide
them more leniency of doing business in market (.Kruger, 2020).

From reflected graph it has been example that small and medium enterprises impacts
to UK economy at larger scale which is further explained below-
 This has been analysed that most of the micro enterprises contributes around 20% in
growth and providing employment opportunities to economy of a United Kingdom
economy.
 Both of these organisations also make it easier to establish connection at both
National as well as international level which is beneficial for growth and success of
business sector.
Impact of SME’S
Small as well as medium organisations has a deep impact on countries overall
workflow and resources as because most of the employment opportunities are being
generated by these sectors. With increase of competition level in market the ratio of small and
medium organisation is also increasing rapidly which gives a boost and opportunity to
country economy to be able to rise at larger scale. It is monitored that small business are
considered as the backbone of economy of UK as it puts significant impact over the whole
economy. There are not more resources such as funds; human resources are required to
undertake small business. In addition, small business facilitates higher innovation and
creativity by bringing new ideas and thoughts in real practices. However, it is analysed that
nearly 55 % of SMEs in UK are not likely to survive for more than five years. So, it is vital
for government of UK to adopt necessary measures so that small business can grow and
flourish. Therefore, contribution of small business cannot be ignoring in the growth and
enlargement of overall economy of UK (Kuratko, 2017).
Impact of small businesses on different levels of the economy (local, regional, national
and international)

Local level- Small organisations at local level are able to fulfil the needs and demands
of every individual which is beneficial for the development of economy.
Regional level- At regional aspect small businesses enlarge their business and
activities on regional basis and use of resources capital become more efficient.
National level- At National level small businesses and their activities within a
country and make assure that resources are being distributed effectively through the
connection with suppliers and other people.
International level- At International aspect small businesses and organisations
expand the activities outside the country in order to achieve higher profit and establish
connections abroad which enhances the strength of a country's economy too (Mkansi, 2021).
P4) Analyse need of small business and start-up’s in growth of social economy
Social economy refers to concept which diversity of different organisations and
ventures like association’s cooperative foundations institutions and many more. Under social
economy main purpose is to increase the living standard and help individual so that goals are
accomplished. Small businesses and start-ups are considered as a major element of growth of
a social economy as a less country development. It is because both these are interlinked with
social economy and accordingly execute their business activities in market. There are many
reasons of importance of small businesses and start-ups in growth of social economy which
are further explained as follows-
 Innovation- Social businesses and start-ups are important because they help in
development of social economy for example existing of small enterprises and start-
ups need to innovative product and services which increases the living standard of
people in a country.
 More employment opportunities- Another reason why country gives more
importance to small businesses that small enterprises generate more employment
opportunities on the basis of which they are able to improve level of social economy.
Develop community & society- When small organisations established in country,
community and society are developed at larger scale because of using efficient resources
capital investment and many more. This leads to the higher growth of a social economy
(Moss, 2018).
TASK 3
P5) Discuss different traits, characteristics and skills of successful entrepreneurs
BASIS Sir Richard Branson Elon Musk
Skills Delegated: Influencer: Elon Musk is an

Richard Branson important
skill was that he has a scale
of delegation from which he
is able to get the work done
by others.
engineer and innovator who
have a skill of influencing
other decisions.
Characteristics Money Minded
Richard Branson is a money
minded person and has
diversified its business into
different sectors.
Passionate- Elon Musk is
passionate about his way of
doing work and focus
towards invention and
innovation.
Traits Innovation: Branson
important rate is that hi
innovative different forms of
business such as airlines,
telecom industry, banking
sector and many more.
Innovation: Elon Musk is
also innovator who has
driven the sector of electric
vehicle in market and is not
focusing towards space
missions.
Difference between entrepreneurs and business managers
Basis Business Managers Entrepreneur
Meaning Business managers are those
who focus on maintaining
discipline and control within
organisation as well as
management so that goes as
well as objective are
achieved.
An entrepreneur is one who
focuses towards establishing
of a new venture and produce
innovative as well as new
ideas.
Objective Main purpose of this is
managers are to achieve
assigned task within time
interval.
Main purpose of entrepreneur
is to bring out the innovative
product and services to
market and customers.
Power of authority Business managers have Power of authority is higher

limited power of authority
and accordingly this is
undertaken by them in
enterprise.
in the hands of entrepreneur
as because they are the owner
of a company.
From the above discussed paragraph it is reflected that each and every individual have
different types of characteristics traits and skills and accordingly they execute their work in
corporate sector. Moreover depending on the attitude and behaviour they deal with others
(Sainath, 2017).
P6) Explore way in which entrepreneurial personality reflect entrepreneurial motivation/
mind set
Every individual has different types of personality and accordingly their behaviour as
well as attitude is being triggered. It is critically important to identify the different
personalities of entrepreneur so that problem do not occur in future interval of time. In order
to understand the personality of entrepreneur Ocean model is being used which is explained
as follows-
OCEAN MODEL
It is defined as a model in which it includes different elements of personality which
are openness, extroversion, conscientiousness, agreeableness and neuroticism. It is necessary
for every individual to identify their types of personality so that it becomes easier to deal with
people in most effective manner.

Openness- These are those types of individual’s word curious and has your ability to
think outside the box to achieve recognition.
Impact on motivation & mind-set- It directly impacts on motivation as well as
mind-set of entrepreneur for example- Elon Musk comes under this category as because he
has the ability to think outside the box and deliver innovative products invention to customer
(Piva, 2017).
Extroversion- They are those types of personalities who are open and are easily
engaged with others. Richard Branson comes under these types of personality. This is because
he has ability to convince others to get the work done and also is capable of dealing with
clients and customers.
Impact on motivation & mind-set- This personality also impact upon Richard
Branson motivation as well as mind set because due to this personality he has a wide ranges
of businesses which is managed by himself to his clear mind-set.
Conscientiousness- This is created with behaviour and attitude in which people and
individual like to work in proper manner in organised are focused towards their commitment.
Elon Musk is linked with this personality as because his commitment towards his mission of
going to Mars which he will complete at any cost.
Impact on motivation & mind-set- It affect the mind-set and motivation level of
entrepreneur because with this personality is able to develop society community and living
standard of people which also motivation to do something more well.
Agreeableness- This kind of personality in which a person is kind and self-
approachable towards others in positive way. Elon mask and Richard Branson both comes

under this category. Such type of persons always things about improving the life of a people
so that positive environment and relationship is being rolled out (Nambisan, 2017).
Impact on motivation & mind-set- This also impact on motivation and mind-sets as
because Elon Musk is kind towards its employees and as well as community which makes
him a good person.
Neuroticism- Neuroticism is a trait characterized by sadness, moodiness, and
emotional instability. Individuals who are high in this trait tend to experience mood swings,
anxiety, irritability, and sadness. Those low in this trait tend to be more stable and
emotionally disturbed.
Impact on motivation & mind-set- This also directly affects the personality because
in this person only thing about himself and negatively changes the mind of other people.
From the above stated matter it has been seen that it is to be necessary for both the
entrepreneurs to be well aware about the opportunities on the basis of which it become easy
for them to make decisions and also carry out business activities accordingly. This model is
important to be applied as because it gives a brief overview about the different types of
personalities which an individual possess.
P7 State examples to show how background & experience affect entrepreneurial practice
Elon Musk is determined as a founder of early level investor and architect of product
of Tesla and the founder of organisation. The musk is considered as a richest people in world.
And it is assessing that Musk was born to Indian mother as well as father is of South Africa
he was born in Pretoria South Africa. He joined University of Pretoria then moving to Canada
at the age of 17 in order to attend the Queen's University. He transfer to University named as
Pennsylvania University after two years in which he focuses on receive bachelor degree
within economics as well as physics then he moved to California in year of 1995 in order to
attend Stanford University but focuses on deciding Institute to pursue business career. They
also are co-founding web software’s organisation zip2 along with its brother Kimball.
Therefore the start-up must be acquired by Compaq intended for $307 million in year of
1999. Musk is determined as a co-founder founded Bank x.com online in similar year where
he merged with along with Infinity within 2002 form company PayPal and bought through
eBay in year of 2002 for $ 1.5. (Stolyarov, 2019).
Richard Branson is determined as a co-founder of virgin group in year of 1970
founded virgin group in which they control above 400 companies in different fields. And,
Branson must express his wants and desire to become entrepreneurs at young age. His first
organisation in age of 16 was magazine known as a student. In year of 1970, he starts
business of recording mail order. He started chain related to record stores, therefore the virgin
group is also considered as a virgin Megastore in year of 1972. Therefore, the brand related to