Entrepreneurship and Small Business Management Report, April-July 2020

This report, prepared for HND Business Unit 9: Entrepreneurship and Small Business Management, explores the multifaceted world of entrepreneurship. It begins by defining entrepreneurship and highlighting its importance in the economy. The report delves into various entrepreneurial ventures, examining their typologies, similarities, and differences. It emphasizes the contributions of small and micro businesses and their significance. Key entrepreneurial traits and skills are discussed, including the five-trait model. The report includes case studies of successful entrepreneurs like Richard Branson and J.K. Rowling, analyzing their backgrounds and experiences. The conclusion emphasizes that success depends on creativity and innovation, not necessarily a privileged background. The report is fully referenced using the Harvard system.

ENTREPRENEURSHIP AND
SMALL BUSINESS MANAGEMENT

 INTRODUCTION 3
 LO 4 8
 P 7 Background and experience of entrepreneurship 8
 CONCLUSION 9
 REFERENCES 10

Contents

Every large company started out as a small business, led by an entrepreneur.
As our economy becomes more volatile, having the skills and knowledge
to start a new business may mean the difference between prosperity and
poverty. This report highlights issues such as different entrepreneurial
ventures and their typology. Similarities and differences between these
type of ventures. Contribution made by small and micro business and their
importance. Traits and skills of entrepreneurs, five trait model and
background of entrepreneur has been highlighted
INTRODUCTION

Richard Branson
Background-
The full name of entrepreneur was Richard Charles Nicholas Branson who
is a British born and raised entrepreneur. He is a multi talented personality
as some of the abilities possessed by him includes the title of author,
investor and philanthropist.
Background and experience of
entrepreneurship

Personal experience-
When the entrepreneur began his journey he met with many of the
experienced people which helped him to obtain the analysis of the market.
This way Branson was able to know that every entrepreneur has a different
thought process and they are everyone works on the basis of their
approach.
Continued..

J.K. Rowling-
Background-
There are many area of work in which she participates such as author,
producer, philanthropist. TV series producer and screen writer. She
gathered her fame with the success of her Harry Potter series.
Continued..

Personal experience-
She is the only and first women author to become a billionaire and she
donated half of that money in charities. Even after such huge donations her
current net worth is more than £600 million.
Continued..

Both the entrepreneurs did not have a powerful background it was because of
their talent, abilities and creative mind that they were able to achieve
success. They have struggled a lot but their hard work has paid off. On the
basis of analysis it has been assessed that background of entrepreneur does
not matter the only thing that does is hard work and patient so that goals
can be achieved.
Continued..

From the above studies it has been concluded that it does not matter
that business running on small scale won’t be able to achieve
success. It is up to their creative mind and facilities which helps
them to bring new and innovative methods into the market. There
are similarities and differences between different forms of business.
Also it is not mandatory that entrepreneur from a rich background
will be successful, it is up to the qualities and talent possessed by
them.
CONCLUSION

 Burns, P., 2016. Entrepreneurship and small business. Palgrave
Macmillan Limited.
 Dana, L.P., 2018. ENTREPRENEURSHIP & SMALL BUSINESS.
REFERENCES