Entrepreneurship and Small Business Management Presentation

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Entrepreneurship and
Small Business
Management

Table of Content
• Slide 3- Introduction
• Slide 4- Task 1
• Slide 13- Conclusion
• Slide 14- Reference List

Introduction
• An entrepreneur starts
business by taking risks and
hoping for profits. The report
provides some examples of
business entrepreneurs to
explain SMEs’ concept. It
identifies some typologies
related to entrepreneurship.
It highlights growth,
development, and expansion
of ventures in UK.

Task 1: Define what the concept of an
entrepreneur
• The meaning of
entrepreneur is “to
undertake.” Concepts
associated with
entrepreneurs are as
follows.
• Organiser
• Passion
• Flexibility
• Socially

Cont..
• Innovator: Innovation motivates
and inspires such entrepreneurs
• Hustler: These entrepreneurs are
enthusiastic and they do not wait
for large opportunities.
• Imitator: They carry out small
innovation in specific business
models or products to make
business more appealing and get
competitive edges.
• Researcher: They believe in viable
and original ideas to choose the
right business.

Identify the types of entrepreneurial
ventures
• Small Business Entrepreneurship
One or more individuals establish such businesses and
they manage it by hiring fewer employees
• Large Company Entrepreneurship
The main motivation for such ventures is profit making
and new product development. Public or private
limited organisations come under this category
• Scalable start-up Entrepreneurship
They grow in a specific field and develop business
through innovative approaches.

Cont..
Forms of ventures Size Objectives
Small Business Size is small having employees not less
than 10 (Burns and Dewhurst, 2016).
 To resolve unemployment problems
 To increase the standard of living of
communities
 To eradicate economic backwardness
from rural regions
Large Company Size is large with more than 249 numbers
of employees.
 To earn profit and stay sustainable
 To offer excellent services to
consumers
 To ensure sustainable growth
Scalable start-up It can be of any size depending on
available scope.
 To maximise profits
 To take risks and innovate products
Social It can be of any size based on growth
opportunities.
 To focus on environmental and
social problems
 To resolve social issues and enhance
lives of people

Cont..
Similarities
• Ventures identified in above section have a
common objective to expand business
models.
• They employ skilled personnel to manage
every aspect of the business.
• They exploit resources to undertake new
projects and maximise return.

Explain the concept of entrepreneurship
typology
• Salary- Substitute Firms: These small firms,
which generate certain amount of profits
and income for owners
• Lifestyle firms: Owners establish such firms
to give opportunities for pursuing lifestyle
activities
• Entrepreneurial Firms: The purpose of such
enterprises is to incorporate and distribute
value to buyers.

Can entrepreneurship exist in a public
sector?
• Entrepreneurship can exist in
the public sector in forms of
new projects, new schemes,
policies, and others.
• Public entrepreneurs work
under government departments
and they infuse innovation and
entrepreneurial spirit in
processes and structures of
Government
• Public entrepreneurs build
various narratives for change by
taking the risk of failure.

What is the scope of new entrepreneurial
ventures
• New entrepreneurial ventures have
greater scope for achieving
productivity by facilitating innovation
and testing effectiveness of such
products in various levels.
• Entrepreneurship and innovation go
side by side to introduce new
products to meet unexploited
customer needs
• British Government initiated a
competition to share up to £ 20 for
best innovation presented by a new
venture.

The development and growth of
entrepreneurial ventures in the UK
• From a research made by
financial times, the UK is the
most suitable place to grow new
businesses
• Numerous Government initiatives
and schemes introduced after the
economic crisis have inspired and
persuaded citizens to set new
enterprises.
• n 2017, the number of new
companies was 660,000 and this
number continues to rise in
upcoming years