Entrepreneurial Ventures: Types, Impact on Economy, and Analysis

This report delves into the multifaceted world of entrepreneurial ventures, exploring various types such as small business entrepreneurship, scalable startups, large business entrepreneurship, and social entrepreneurship. It elucidates the similarities and differences among these ventures, providing a comparative analysis of their objectives, risk factors, employee structures, and organizational structures. The report further examines the significant impact of micro and small businesses on the economy, highlighting their contributions to job creation, GDP growth, and innovation. It underscores the importance of small businesses and business start-ups in fostering economic growth and meeting customer needs. The report also references the role of entrepreneurial ventures in creating socio-economic opportunities and implementing creative ideas for economic development. The report concludes by emphasizing the importance of innovation and the role of SMEs in the economy and how they can provide a competitive advantage.

Entrepreneurial
Ventures, Exploration
of the entrepreneurial
mindset

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
P1 Explain different types of entrepreneurial ventures...............................................................3
P2 Similarities and differences between entrepreneurial ventures..............................................4
P3 how micro and small businesses impact on the economy......................................................6
P4 Importance of small businesses and business start-ups in the growth of the economy.........7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneur is an individual who take commercial and economic term of the risks in the
anticipation of the productivity and the profitability. Entrepreneur is usually termed as a
visionary, basis of new thought of views, and manufacturer of various products and facilities for
consumers as effectively. With the help of free enterprise business of management might
supports in eliminating the orientation condition of the state. FTI consultancy is the chosen
organisation in this report it provide consultancy to the various companies regarding the small
business opportunities and entreprenuership. Entrepreneur require to be original and invention to
form the diverse from present responsibility. The following report will consider the various
entrepreneurial projects and sort of free enterprise as with the conversation on resemblances and
alterations in them. Hence, it will also high lighten the small commercial and their major effects
on the growth of the nation. As per to the study it will imitate on the two effective or successful
entrepreneur as in what cases and how they are diverse from managers in the business of
management as effectively (Goworek, 2020).
MAIN BODY
P1 Explain different types of entrepreneurial ventures
When it comes to market exploration technology, companies can create effective growth and
opportunities through other ventures, while at the same time related to other types of
entrepreneurship:
small venture Entrepreneurship: This is Affiliated Company Type New Startup This organization
is controlled by a solitary proprietor and few staff. Additionally, the income isn't extremely high,
and the primary center is to procure more clients and foster the organization utilizing the item.
Supermarkets, painters, shops, and so on are individuals who have prevailing in these sorts of
little business. They are new businesses and are remembered for Fabian business visionaries who
can't face more challenge.
Scalable Startup Entrepreneurship: These innovations and startups are closely related businesses,
and the main focus is to bring innovation to their customers. These types of entrepreneurs need
to make high investments to identify venture capitalist economies that are thinking of their ideas.
These organizations are closely linked to the list of venture capital and key changes and

investment growth in line with their thinking. It is associated with innovative entrepreneurs who
are ready to invent new things for these customers.
Large Business, Entrepreneurship: This kind of adventure has a restricted life cycle as it focuses
just on serving it's anything but a significant stretch of time. Here, with respect to changing client
interest, contest, law, and primarily different sources , numerous huge associations making
completely new business sectors and new items for development. This is vital for an organization
to deal with its exercises, yet the size of the organization presents a great deal of trouble for the
organization to apportion operational information as per the degree of interruption. This can
likewise incorporate mirroring organizations that may emulate the thoughts of their rivals
(Mulyana, 2020).
Social Entrepreneurship: This is a type of entrepreneurship that focuses primarily on the major
challenges and social issues of being able to provide products and services at social costs and
benefits. This type of organization may seek profit in relation to the situation rather than in a
hybrid with profit. They were associated with extensible entrepreneurs and needed more growth
and requirements within the enterprise.
P2 Similarities and differences between entrepreneurial ventures.
Differences
Basis Small Business Scalable Start-up Large
companies
Social
entrepreneurship
Objectives These
organisation
work for
achieving low
revenue and
growth in the
marketplace.
these
organisation are
less effective.
The aim is to
provide innovative
products and
services to the
customers so that
there profit in the
market can be
increased.
There goal is to
survive for
long time
period in the
economy by
providing the
best quality of
goods and
services to the
customers.
Their main
objective is to
provide quality
products to their
clients in the
marketplace.
Risk factor Competition is High competition The risk is The competition

high in this
sector but risk is
low as compared
to other
business.
and huge risk factor
is there within the
business as
financial pressure
is high
medium in this
organisations.
and risk is not
very high in this
business as they
aim to provide the
quality.
Employee’s
number
Employees are
less in number
which can be
below 50
Employee under
this business
depend upon the
size of the
company
(Schierstedt,
2020).
100 to more
than 1000.
Numbers of
employees it
can have.
It will depend on
the nature of the
company.
Structure They does not
have proper
organisational
structure.
limited partnership
and cooperation
can work together.
this can be
private, public
limited
company.
social working
NGO and trust are
the piece of these
organizations.
Similarities:
The main similarities among the ventures that help to gain growth and market opportunities in
the economy. In addition, these companies can offer and create other aspects and growth within
society to manage and work according to their goals and growth. Some of the major similarities
between the other ventures mentioned above are listed below.
• A common goal for building a successful business in the market.
• The owner has the authority to develop and execute the plan.
• Has management capabilities and predicts additional systems.
• They have good decision-making skills and can manage the problems that arise when running
business growth in the market.
P3 how micro and small businesses impact on the economy.
It is vital that development in a wide range of undertakings oversees little and medium-sized
endeavors and adds to more significant levels of development and openings on the lookout. The
quantity of private companies, independent ventures and huge endeavors is expanding

throughout some undefined time frame, and yet giving a great deal of development and openings
throughout some stretch of time (Bowden, 2020).
According to the records, 95% of 100% small businesses are incorporated, and 5% seem to be
related to management's strategic change and actions on growth growth and losses for mass
work. In the UK market, almost 95% of businesses are small or small, generating a lot of profits,
employing large numbers of people, inventing, improving GDP levels and helping the company

grow. Thus, the revenues generated by businesses are well worth their high contribution to GDP,
and 1 in 3 people in the UK are employed with the help of small businesses (Austin, 2020).
All of the above graphs are closely related to key growth patterns over the years in society and
need to process and manage data based on the growth and nature of the company and society. It
is associated with the company's key growth and success for the growth that makes it. Based on
the achievement and success of the data, the growth of the company is working and there are
major changes and growth assigned to the major changes and tasks.
P4 Importance of small businesses and business start-ups
In order to maintain the flexibility and growth of the company for creating socioeconomics, it is
very relevant to have different anti-resistant companies and growth of time. The beginning of the
companies of companies can implement creative ideas and growth in the period of the period and
create efficient products compared to their effective people and requirements for their time-life
requirements. In addition, the company can work and manage activities according to growth and
society to make more social workers over a very short period of time. It will include a great
situation of setting people and implementing strategic changes in accordance with the growth
and needs of society. Many start-up companies such as FTi Consulting companies can serve their
services for corporate management and ensure that the work and management of CSR activities
with sustainability and social reliability to solve economic and social issues to economic so that
growth chances can get enhanced SME helps in satisfying the needs of the customers in the
market which helps in improving the lifestyle. If the companies will not fulfil the requirement of

the economy then it affect the development of the country(Croxen-John, 2020). They also helps
in reducing the unemployment in the economy by increasing the employment rate.
CONCLUSION
According to the report above, the purpose of enterprises is to increase the economic growth
through the services they provide. Every organization has its own goals and objectives that must
be achieved. There are various benefits of SME to the economy as they helps in developing the
growth of the economy by providing new and innovative products to the customers. If the needs
of the economy will not be satisfied effectively then it can create loss for the business due to
which demand in the market will also get decreased. Different services are provided by the
SMEs depending on the requirement of the customers. They develop their services as per the
current trends which are taking place in the economy so that more profit can be earned and
productivity of the business can also get enhanced in the marketplace. innovation helps in
providing competitive advantage to the business.

REFERENCES
Books and Journals
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sustainability in the fashion business: Challenges in product development for clothing
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communication platform in facilitating social engagement in the digital
era. International Journal of Innovation, Creativity and Change, 13(5), pp.1-16.
Schierstedt, B., Henn, M. and Lutz, E., 2020. Diversified acquisitions in family firms: Restricted
vs. extended family priorities. Journal of Family Business Strategy, 11(2), p.100357.
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I.N.D., 2020. Generation Z Behavior And Low Price Products In The Era Of
Disruption. International Journal of Social Sciences and Management Review, 3(3),
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Bowden, S., 2020. Corporate governance in a political climate: The ‘City’, the government and
British Leyland Motor Corporation. In Banking and Finance (pp. 95-129). Routledge.
Austin, E.C., 2020. Business Survival Growth Model (BSGM) Canvas VS Business Model
Canvas (BMC). European Journal of Business and Innovation Research, 8(1), pp.52-
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Ismail, N.Z.F. and Mohamad, M.R., 2020. Entrepreneurial Skills and Business Success in the
Informal Sector: A Qualitative Study. Journal of Business Management and
Accounting, 5, pp.105-122.
Jensen, A. and Webb, F., 2020. Worker cooperatives as a model for family business succession?
The case of C-Mac Industries Co-operative Ltd in Australia. In Waking the Asian
Pacific Co-Operative Potential (pp. 335-343). Academic Press.
Croxen-John, D. and Van Tonder, J., 2020. E-commerce Website Optimization: Why 95% of
Your Website Visitors Don't Buy, and what You Can Do about it. Kogan Page
Publishers.