Entrepreneurship Report: Traits, Skills, Background & Ventures

This report provides a detailed analysis of entrepreneurship and small business management, focusing on different types of entrepreneurial ventures and their typologies, including small business, large company, social, and scalable start-up entrepreneurship. It discusses the significance of similarities between entrepreneurial ventures and the role of small businesses in economic development. The report also interprets data accessibility using entrepreneurship statistics and elaborates on the characteristics, traits, and skills of successful entrepreneurs, differentiating them from other business managers. Furthermore, it examines the impact of background and experience on entrepreneurship, linking entrepreneurial characteristics to personal history and providing a detailed analysis of these influences. The report references the Aldgate Angels firm and considers the financial aspects and challenges faced by entrepreneurs.

Entrepreneurship and Small Business Management

Contents
INTRODUCTION....................................................................................................................4
LO1............................................................................................................................................4
Covered in brochure...............................................................................................................4
LO3............................................................................................................................................4
P5. Elaborate the characteristics traits and skills of successful entrepreneurs that
differentiate them for other business managers......................................................................4
P6. Aspects Of Entrepreneurial Personality Reflect Entrepreneurial Motivation And
Mindset...................................................................................................................................7
M3. Identify the Significance lines of arguments relating to entrepreneurial characteristics 8
D3. Critically evaluate the characteristics traits, skills and motivational drivers of
successful entrepreneurs.........................................................................................................9
LO4............................................................................................................................................9
P7.Impact of background and experience on entrepreneurship..............................................9
M4. Describe the link between entrepreneurial characteristics and the influence of personal
background and experience..................................................................................................10
D4. Detailed analyzation of influences of background and experience on entrepreneurs. . .10
CONCLUSION.......................................................................................................................11
REFERENCES.......................................................................................................................12

INTRODUCTION
Entrepreneurship is formally associated with a procedure that involve a process of
creating a new enterprise through grabbing or exploiting a new business idea and opportunity.
On the other handentrepreneur is the person or individual that is having all the responsibility
associated with managing and controlling business affair of that new enterprise together with
bearing all risk and making efforts for maximization of profit. The new business start-ups and
small and medium enterprises plays an important role in growth and success of economy of
nation through creating more job opportunity and leading better innovations for society
(Julien ed., 2018). Therefore, to organised the start ups and other ventures which are directly
link with ownership business firms where there is reflect by owning of own company and
seeking for investors to raised the financial stability as well as goodwill.
This entrepreneur report is based on the Aldgate Angels firms which are regulated
financial activity where they procure and provides the monetary help as to making the small
and big entrepreneur ship company financial stability as well as their loyalty, as it basically
offered the investors from United Kingdom but there is risk or barrier of Brexit market on
which it behalf of the entrepreneur could not able to raise funds from outsiders like from
other international countries (Anggadwita and et. al., 2017).
LO1.
P1. Discuss the different types of entrepreneurial ventures and typology to the relates with
entrepreneurial aspects.
As there are significance types of entrepreneurial organisation that frequently some
sort of companies emphasis towards the generating the opportunity for employees as they
allows the creativity and new inventing ideas in virtue of growing economic and social value.
In a larger form of entrepreneurship firms are economy based background as it follows:
Entrepreneurship – This is the sequence of dreaming, planning, launching and
managing a new company or corporation is called entrepreneurship. In order to manage and
maximize corporate efficiency, various forms of entrepreneurial practice are utilized for
company issues.
Small business entrepreneurship – This means a business is operating at small area and
level with the help of limited resources and capital in limited geographical area. This is

started by local people by creating opportunity and developing an organisation at smaller
areas.
Large company entrepreneurship: This form of organisation is basically constructed in
high capitalised structure where the investors are actively participate for investing the money
on it, as they have better financial support to operate and monitored the larger level of
economy based structure. They having the lager fond of expansion of business brand values
to creating the targets to reaching up the objectives with the motive of maximisation of
profits.
Social Entrepreneurship- The business which are related with the social welfare or
contributing the social activities that devoted towards the development of society . The main
agenda of social entrepreneurship is to provided the equality and diversity in the society by
supporting and helping to economically section and other vulnerable group. The financial
requirement of social entrepreneurship is fulfilled by their members in form of donation and
charity to help the derived section of society.
Scalable Start- up Entrepreneurship: This structure of business start up is generallyit
focuses into creativity in business or in another words it allows the modification of new
business concept which provides some positive outcomes for the society, where the optimum
funds or strong financial stability required with market exposure that it helps to enhanced the
knowledge and other type of innovation to brings the profitability in the organisation.
Different Types of Typology of entrepreneurship
A Typology is the facilitates a particular group whose having a similar traits and
features. As through it simplifies the entrepreneurship criteria into significant typology on the
behalf of some similar qualities or behaviour which having some common factor. The
following consists different types of Typology entrepreneurship are as follows:
Male Entrepreneurship: The features of male business promoters are basically own creator
of the ventures where they usually brings the financial activities to invest in their capital in
terms of investors and unique innovation as they are high competencies on which they get
scrutinized their performances and high risk taker.
Female Entrepreneurship: As they are usually quite handle the managerial aspects like
human resources activities but as in term of entrepreneurship the basic factor to monitored
and implementing the financial investment as per the better and flexible manner. They having

the excellence form up of soft skills such as better communication, creativity and good sense
of convincing power which makes blows the mind of investors.
P2. Discuss the significance of similarities of the two entrepreneurial ventures.
By having a distinct factorization of the entrepreurship between social, large and small as
well as male or female entrepreurship which are generally seeking the professional rules and
regulation about to gaining the business exposure through various form of segments. The role
of employees performance plays an important to making consideration about the quality of
entrepreneurship that helps to encourage the maximisation of profits. As per the drafting of
the differentiate between entrepreurship firm that given below:
Basis Small Business Entrepreneurship Large company Entrepreneurship
Operation level The description of organisation are
generally to monitored or mange the
less amount of capitalism venture
which having a small investment
criteria where not much
enhancement of work requirement
with less workforce.
This type of ventures are having a
effective goodwill in the market as
in context of products performances
in market, profit, credibility, with
high structure of capitalism as well
as efficient workforce to handle the
big venture business performance.
Objective The main objective of small
business is to attain the day to day
targets in which employees
contributes the low amount of
resources as per the amount
capabilities and procure to maintain
the standard of living.
By presence of optimum desirable
objectives and aims of large venture
business where they have expected
on to achieve the high amount of
profitability and maximisation in
profit through performances in the
market.
Geographical area
served
A Small business contins a limited
geographical area in which they
served into domestic and local
countries where the profit margin is
less and productivity is not to
appropriate.
The area which served by large
business venture is too national and
international countries as per their
networking terms are depending o
the market development.

Number of
employees.
In small business entrepreneurship
are those generates the less
capability of employment which
provides the low amount of salary
but to motivate for big terms of
targets in which the productivity and
employees working in these
organisation are around 150-200.
For example in United Kingdom
there is small business which having
quite better goodwill but no
employees are less due to low
capitalism.
In large business entrepreneurship
are also generates the employment
in which they focuses to hire
efficient and skilled enough
workforce who can contributes in
organisation and increases the
productivity as for individual and
company welfare. It majorly keeps
the maintaining of workforce around
500-1000 such as companies like
Bentley and Starbucks are the most
efficient business where the
productivity are excellence as well
as the workforce are highly active
and good amount of worker are
enhance to work.
LO 2.
P3. Interpretation of the data accessibility that comprised the relevant by using the
statistics of entrepreurship.
To having a distinctive role and particular significance of small ventures as well as the
domestic economic that supports to allows the bigger growth towards the community for
making the constructive deployment of business venture are depends on it. To opening a
platform for the economic growth where it is link between employee opportunities and
organisation growth which is having a requirement towards the big corporation. As the
following importance and role are given below:
Formation of Senseful Job role: On the matter of economic factor the more investment
creates the job opportunities where many start ups and new companies launch their venture
where entrepreneurships are generating the employment opportunities which really serves
towards the society and eliminating the discrimination and errors which are prevails the

unwanted restriction through which an individual could not able to adopt the new role of Job
to attaining the objectives. The Small companies hire workforce but provides them low wages
as per their profit margin is less than big companies as well as they allows moderate
qualification of candidate to easily hire but they are not that much proficient or not having
effective skills and knowledges to deliverables the optimum performances.
Integral part of economic domestic: By the small business firms are the major part of
the domestic economic as the financial supports to the factor of independence as on economic
aspects in terms of further development making the better infrastructure which helps to
increase the internal and external improvisation of values or to making enhance the promotes
of competencies workforce devotion towards the business activities.
P4. Briefly explain about the important description of small business and start up company
By having the significance of small business and new ventures like start ups for preparing the
growth of economic as per the better understanding through following points:
Sharing ideas towards the innovation: With the perspective of small firms they have
necessity of more investment or ideas to making the new creativity that will bring the
upgradation as small companies have low opportunities of financial supports and the
communicating about the contribution is much less than larger companies business because
they have low profit margin and their productivity is diminishes toward the economic point of
view but the innovation is very effective enough of small business and start ups where they
keen to introduce eth ideas and creativity to investors and other big business entrepreneurs by
that they can invest the money as per the suitability.
Appraised the productivity towards proficient employees: As per the chances f new
companies and start ups ventures they allows to promotes the new opportunities on which
efficient and skilled worker can elaborate the productivity of those workforce whose
performances brings the favourable outcomes and facilitating and more creativity way of
production, as per these factor of enhancement of productivity through job opportunity where
it can reduces or decreases amount of poverty and inequalities from the society that suffers
form less growth.
Promotes the power of purchasing: The products which are manufactured as it involves
many cost incurred in term so raw material consumed and enabled in the market with good
amount of quality product but the product are not having the selling factor where the

consumer are not buying because of the price issues, on that note small companies and other
new firm allows the same products manufactured as in low cost introduce in the market
where the domestic people can easily purchase the product to fulfil the requirement.
LO3.
P5. Elaborate the characteristics traits and skills of successful entrepreneurs that differentiate
them for other business managers.
A efficient and successful entrepreneur is having only a vision and mission to
accomplish the business oriented target where they actual perform in the platform where the
investor or can say that sources of funds acquire through convincing the business objectives
as well as the start ups are one of the trending act of business through the success of that
owner and manager become an entrepreneur as their field. As with the context of Aldgate
Angels firm having the traits and characteristics which helps to enhance the entrepreneurs to
success into their objectives as their decision making is very strong and effective smart that
create a difference between in entrepreneurs and managers.
As below there are two entrepreneurs where it shows the reflection of traits and innovation as
well as characteristics with skills involved:
Peter David Jones:
Peter jones is a British entrepreneur and businessman and also being television
personality with interest in mobile phones with lesire retail products as he is last remaining
owner of investors company as well as of show Dragons Den where he promotes nay
channels through endorsing the products.
Traits: Innovation: As it consider the most compulsive trait which includes in entrepreneur
as it help to enhance and promote to think about the vision and making effective
decision making power among the customer requirement. As the Peter David Jones
having a innovation of framing about the endorsing and promoting the television
channels as he is personality of digital media (Mehmood, and et. al., 2019). Feedback acceptance: As the Peter David Jones is the pre determined personality of
accepting the failure and try to improvised the factor on which the gap is arises.

Characteristics Problem solving: Peter David Jones having a decision making factor to which he
consult with his peers of company respective to resolve or overcame form the
problem from any situation by evaluating the whole situation effectively and
taking corrective actions.
 Leadership quality: the leadership characteristic can be positive factor
personality specially for business identity to leading the team and workforce of
the business venture Peter David Jones is having making the workforce stable and
flexible by believing the in managerial aspects.
Skills Enhancing the confidence in right time: By using of confidence in right
time to achieving something as well as it comes to use in presentation and
delivering something in front of people it barely requires, as Peter Jones is the
Television personality so he basically famous as for his presence and way of
presenting the things in better way where people get attracted.
 Having communication skills: While performing in digital world Peter joes
is having a excellence communication skills through which it making focus to
the audience to listen the speaker as in business point of view is also a better
having a communication can create effect towards workforce productivity in
the working aspects.
Hayden Wood:-
Hayden is a co-founder and CEO of Bulb which is one among the fastest growing
energy supplier that provide most affordable, renewable energy to around one million
members. Before becoming a entrepreneur, he studied economics at LSE and after that
worked as a management consultant.
Trait
 Innovation: Innovation is consider to be most crucial trait within an entrepreneur as it
help them in offering something unique that can fulfill the customers' requirement.
Hayden Wood has identified the issues that people are facing and then develop an
innovative plan to set up a business efficient in providing renewable energy to save
cost of people along with providing them a backup option for electricity need (Acs,

Szerb and Autio, 2017). This idea has consider most innovative and helpful for the
industry.
 Feedback taking approach: The most influential trait of Hayden Wood is that he is
more focused toward taking regular based feedback from its employees as well as
customers so that regular improvement can be possible along with changes in market.
Characteristics
 Problem solving: Hayden Wood maintains a strong access to solved the existing
organizational issues in effective manner. The Hayden Wood mainly focuses toward
resolving the each and every problem in timely manner by evaluating the whole
situation effectively and taking corrective actions (Turner and Gianiodis, 2018).
 Team Player: It is most crucial characteristics that help an entrepreneur in executing
business operations effectively by getting a support of its employees .Hayden Wood
shares good relation with its staff and always provide them opportunity to perform
well by supporting them. This supported them in achieving their objectives
effectively.
Skill Effective communication: Hayden Wood make use of its communication skills in
order to interact with several energy businesses of UK in order to gain insight about
the business as well as issues faced by companies and consumers in this regard. This
support him in forming up a successful business plan and good command over
communication support in influencing employees to perform well (Chen and
Thompson, 2016). Strong motivator: Hayden Wood mainly believes in keeping its employees motivated
by appreciating them or providing additional monetary benefits at continuous basis.
The main aim behind this is to motivate employees toward the attainment of
organizational goals by putting efforts toward them and interacting for gaining insight
on their situation .
Therefore the difference between entrepreneur and managers of business is highlighted
below:
Basis Successful Entrepreneurs Business Managers
Focus The focus of entrepreneur is on towards The business manager is focus to

the goals and objectives of business for
making it successful as it crack the
business aspects and function to trading
in the market.
directed business and its workforce
into handle to other responsible aspect
of business.
Motivation Entrepreneur motivates their peers
through the providing the business
oriented vision.
Business manager mainly determines
towards the motivating employees
towards .
P6. Aspects Of Entrepreneurial Personality Reflect Entrepreneurial Motivation And Mindset.
Personality of a person reveal very much about them as it help in forming up their
psychology that further form the set of decision they taken into consideration. The
psychologist state that there are five dimensions over which a personality of an individual
reflect through ocean of personality is reflected through the point of entrepreneur are:
Openness: This is one of the traits which represent the individual personality of trait
which defines the presence of mind activeness towards the positive factor by which it
helps to makes understand about gaining of learning in new knowledges in terms of
business exposure as well as the sense of achievement (Amrita, Garg and Singh, 2018).
Consciouness : A personality like Peter jones and Hayden woods they make their stands
for their goals and objectives towards the achieving the sort of business reaches where it
focuses to motivate the employees towards the achievement oriented.
Extraversion:This personality traits facilitates about the person interaction with social
involvement, extrovert in public. By implements with all shades company have
reforms the workforce effectiveness where the mangers get trained them to being the
interactive and social welfare towards the organisation.
Agreeableness: It emphasis about the entrepreneur trust, affection with the kindness
through support which entrepreneur which leads towards the workforce effectively in
friendly nature environment where they coordinate effective trust blood with each other
as Peter Jones and Hayden woods within their organisation premises.

Neuroticism: The factor of neuroticism is refers about to control in emotional stability
otherwise it will generates the inner weakness and anxiety through which it enables to
support the issues or problems that arise to deal with for resolving factor.
M3. Identify the Significance lines of arguments relating to entrepreneurial characteristics
As per the view point of Laurence Graff, 2018. Entrepreneurship is not simple as it
needs lots of efforts to be imposed by an individual in order to keep its business improvising
and get successful. This is so because the entrepreneur involves higher risk that are required
to be managed effectively for sustaining in marketplace. An entrepreneur must contain
certain skill like self motivation, passionate, creative, focused and risk taker for achieving
success.
Behalf of the view point of Scott Shpak, 2017. Entrepreneur is one of who has a
willingness to take over the risk assessment into his /her business and work towards for
achieving objectives and gaining of success(Nagler and Naudé., 2017). But this require
certain skills to being successful such as risk management, organizational skills, confident
etc. in order to keep move forward.
D3. Critically evaluate the characteristics traits, skills and motivational drivers of successful
entrepreneurs.
An entrepreneur is comprises of certain traits, characteristics, skills and motivational
factors that support them in becoming successful in their business. As the Peter David jones
and Haydon Woods having they both effective communication and leadership quality they
implies but somehow they plays a different role in significance aspect as through
characteristics, Traits, skills and motivational drivers of successful as they assorted their
competence of these traits and skills factor to improvised the infrastructure of their business
and enhancing the effective workforce.
LO4.
P7.Impact of background and experience on entrepreneurship
As per their background are concerned of an entrepreneur is having a significant
effect on success and destructive of an entrepreneurship which can be understood by
following examples are:
Peter David Jones