This report delves into the core concepts of entrepreneurship and small business management, examining the key differences between entrepreneurs and managers based on their characteristics, skills, and traits. It explores the aspects of entrepreneurial personality that reflect motivation and mindset, elaborating on various entrepreneurial characteristics and the motivational drivers of successful entrepreneurs. The report further investigates how background and experience can either hinder or foster entrepreneurship, analyzing the link between entrepreneurial characteristics and the influence of background, both positively and negatively. The findings highlight the importance of specific qualities for entrepreneurs, such as confidence, credibility, risk-taking ability, passion, and opportunity-seeking behavior, and how background can provide knowledge, skills, and experience. The conclusion emphasizes the rising trend of entrepreneurship in the UK economy and its positive impact on the economy and society.