This report delves into the multifaceted world of entrepreneurship, examining various venture types and their relevance within the entrepreneurial landscape. It explores the core concepts of entrepreneurship, including the skills, qualities, and perspectives essential for business management. The report investigates the impact of micro and small businesses on the economy, utilizing relevant data and statistics to illustrate their significance. It also assesses the contribution of small businesses and start-ups to the social economy, particularly in the context of Brexit. Furthermore, the report determines and assesses the key aspects of an entrepreneurial mindset by analyzing the characteristics, traits, and skills of successful entrepreneurs. Finally, it examines how background and experience can influence entrepreneurship, providing practical examples obtained through mini-research.