Entrepreneurship: Ventures, Impact, and Social Economy Report

This report delves into the multifaceted world of entrepreneurship, examining various types of ventures, including small businesses, scalable start-ups, large company entrepreneurship, and social entrepreneurship. It analyzes the similarities and differences between these ventures, highlighting their distinct characteristics and objectives. The report further explores the impact of micro and small businesses on the economy, focusing on job creation, contribution to GDP, diversification, and inflation. Additionally, it investigates how small businesses and start-ups contribute to the growth of the social economy, emphasizing their role in fostering economic development, creating opportunities, and addressing social needs. The report also touches upon the characteristics of successful entrepreneurs and how their personality and background can influence their entrepreneurial motivation and mindset. The report concludes by providing a comprehensive overview of the factors that drive entrepreneurial success and the significance of entrepreneurship in the modern economic landscape. This report is designed to provide insights into the key aspects of entrepreneurship and its role in driving economic and social progress.

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
P1Different types of entrepreneurial ventures............................................................................4
P2Similarities and differences between entrepreneurial venture................................................5
P3Impact of the micro and small business on economy.............................................................6
P4How small businesses and business start-up will contribute to the growth of the social
economy......................................................................................................................................7
TASK 2............................................................................................................................................8
P5Charactersticis traits and skills of a successful entrepreneur..................................................8
P6How entrepreneurial personality reflect entrepreneurial motivation and mindset..................9
P7Person's background and past experience can hider or foster entrepreneurship...................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurship is a new business that can have define the new ideas and innovation to
start a business which can be determine the social and political factor that show the effective
process to run the new business. Basically entrepreneurship start whit a small business to related
to the start up organization to evaluate the effective target to provide a new product in market
which is called a entrepreneurs. It is a individual person who start a new business in effective
manner to achieve appropriate goals and objectives (Raposo and Do Paço, 2011). It define risk as
well as uncertainty in the new business that can help to increase the development of the business.
In business taking high risk is define high profitability in the business that can help to develop of
the organization in effective manner. In entrepreneurship many people can give innovative ideas
to run the business and define new idea which can help to determine the right way in the
organ9zation to achieve their target and increase their performance. It have to define how to
reach in the last process to get effective success in the organization (Preuss, 2011). The
Federation of small businesses in UK is a small businesses that can be define the start-up
business in innovative process to develop the business. In the below mentioned report is define
the effective entrepreneurial ventures that can help to achieving their appropriate target.
TASK 1
P1Different types of entrepreneurial ventures
Entrepreneurship is a process to introduce the new business with huge risk process to
define the target of the organization. It can be define the financial risk to evaluate the effective
profitability in the organization to reach their target (Nga and Shamuganathan, 2010). It is a
effective process of new business to define the effective idea to run the business and get
appropriate goals. In another process of entrepreneurial venture is a individual person who is
start a new business with the help of limited and small term of resources to get effective result. It
can be define the new idea, effective planing that can evaluated the start-up business it can be
having a risk and profit in the organization to improve their performance. There are four type of
entrepreneurial venture:
Small business entrepreneurship- small business is basically define the small store, travel
agent, electricians, plumber who is doing work in small scale business that can help to run
business in effective manner (Neck and Greene, 2011). It may be include their own family and

local employee to run the business to maintain their profit in loge time which is helpful in extend
the business.
Scalable start-up entrepreneurship- it can be define the new and innovative idea to introduce
start-up business. Federation small business can also determine the effectiveness in their business
they can having risk to evaluate the profit. It is start-up process which is involved venture
capitalists to take financial term that can help to run business (Ligthelm, 2010).
Large company entrepreneurship- large company entrepreneurship is a process to define the
product life cycle which is show the product in different target which is introduction, growth,
maturity and decline to get effective result. It can be define the customers taste according to the
product and service so that they can provide effective service to the customers to get higher
satisfaction and increase their productivity and profitability. It ca define the new strategy and
technology to increase the sale of the company to achieve effective target which is grow the
business (Sampaio, Thomas and Font, 2012).
Social entrepreneurship- Federation small businesses can be define the social entrepreneurship
which can be determine the effective innovator who is focus on the effective as well as creative
product and service to resolve their social needs and wants of the organization. Basically social
entrepreneurship is related to the social needs and wants and analysis the effective factor which
is define effective way to evaluate and increase their productivity as well as profitability (Lee-
Ross and Lashley, 2010).
Federation of small businesses can define the different typology of entrepreneurship:
Trading entrepreneur- it can be define the finished product which is related to trading
process which is sale to the service user by the retailer. Trading entrepreneur have to determine
the wholesalers, dealers which is sell the product.
Women entrepreneur- it cab be define as well as controlled by the women. It can be
define the financial interest which is give to the women in a minimum rate of interest.
Small scale entrepreneur- small scale entrepreneur include minimum investment that can
be involves plant and machinery up to rs 1.00 Crore to define the small business.
Large scale entrepreneur- it may be include the investment of the plant and machinery
with rate more than rs 5.00 crore that have to be evaluate the large business to achieve large
number of profitability (Islam and et.al., 2011).

P2Similarities and differences between entrepreneurial venture
Small business entrepreneurship Scalable start up entrepreneurship
Similarities Small-business entrepreneurship is a
process to having a high risk which is
help in get high profit in the business.
It can be define the effective
performance of the business to get
hight profit as well as productivity.
Scalable start up entrepreneurship
define the innovation process to
define the effective profit and
improve their performance. It can
be show effectiveness of the
business.
Dissimilarities In small business entrepreneurship
growth will be limited. It can be define
the small store which is determine the
short term process to evaluate the
effective profit in business. Basically it
is a small size business to define in the
short time process.
Scalable start up define meteoric
growth which can be define the
innovative and new process to get
effective profit. It can be show the
risk to measure the uncertainty. It
can be define the innovative ideas
in a business to run effectively.
Large company entrepreneurship Social entrepreneurship
Similarities Large company entrepreneurship can
be define the new and innovative
product to evaluate the effective profit
and improve business performance. It
also provide new product and service
to the customers to get effective as well
as appropriate profit (Schaper and
et.al., 2014).
Social entrepreneurship can be
define the society needs and
wants which is related to the new
service and product to define
customers needs and wants of the
market.
Dissimilarities Large company entrepreneurship can
be define the particular brand product
which is define the larger level of
profitability to get higher profitability.
Social entrepreneurship can be
determine the social needs of the
society. It can provide effective
service to their customers and get

They can able to determine the
effectiveness of the company.
customers satisfaction. The main
objective is social
entrepreneurship is define the
customers needs (Shane, 2012).
P3Impact of the micro and small business on economy
In the federation of small business can be show the positive impact on the economy
which is define the effective goods and service that can provide to the customers to get effective
satisfaction in the organization. It can help to define the risk of the organization top get
appropriate result. There are some factor which is impact of the micro and small business on
economy:
Job Creation- small business can be define the large number of job creation that can help to
give employment in the organization (Gorgievski, Ascalon and Stephan, 2011). It is a new
opportunity to fine a effective job in the organization that ca be impact on the economy. it can be
positive impact on the economy to develop the employee to work in organization which can be
increase the financial money in the market place to enhance the economic growth. They have to
include employment practices, higher worker productivity, unemployment reduction.
GDP- Gross domestic product can determine the value chain to define the change in capital,
labour to define the large number of income which can help to reduce the risk of the product as
well as organization. It can help to measure as well as determine the output of the economy
which is impact on the economy. That can involve the total gods and service that ca used by the
customers.
Diversification- it is a process of define the growth of the economy product which is use in the
organization which can be impact on the economic growth (Fassin, Rossem and Buelens, 2011).
It can help to increase the living of standard and provide the effective product to customers of
low price to get effective satisfaction.
Inflation- in this factor the inflation can be impact on the economy which is define the flexibility
in the organization to decrease the demand that can determine the sales process. It can be
evaluate the high competition which is determine the effective flexibility in organization. It
include changing in the marketing to evaluate the strategy to improve their performance.

P4How small businesses and business start-up will contribute to the growth of the social
economy
Small business and business start up van be effective contribute to the social growth. It
can define the Brixit in social economy which is show the opportunity to reduce the uncertainty
in the product and service that can provide to the customers to satisfy their needs. It can be
provide the effective social and local need to introduce the future success (Dennis, 2011). Small
business have to develop the relation with customers and employee to define the effective
economic growth. In the small business they have to involve low coat of overhead which is
determine the effective result according to customers need. Small business can define the job for
the unemployed person that can help to improve the growth of the social economy to improve the
performance of Federation of small business. It can be provide effective opportunity to employee
which is relates to the corporation to get effective result and define positive impact in the social
economy. It can be show the innovative product in the organization to improve their quality of
the product. They can define the problem in organization to resolve in appropriate way that can
help to enhance the goodwill of the company (Chittithaworn and et.al., 2011).
Small business define the economy change also respond of the change to determine the
effective performance of the economy. It can be define the innovative idea to run their business
in effective manner so that they can increase the effective productivity as well as profitability of
the organization. Federation of small businesses can be determine the effective target that can
build their business image by the using the service in appropriate manner to enhance their quality
of the production. It can be define the development of personal relationship, responding the
problem and challenges, low overhead to evaluated the effective success.
Start-up business is a innovative process to run the business in market they can define the
innovative idea that can help to increase the economic growth. Basically it is based on the
innovation which is develop the product and service to get higher result in organization. It
include high risk to get high profit to improve their quality of the product as well as service
which is provide to the customers. An entrepreneur can be define the new process to evaluate
the strategy in the new business to define the effectiveness and efficiency in the organization and
community (Carraher and Paridon, 2015). It can reduce the poverty and increase the GDP rate
which have to evaluate the effective process to get higher productivity of the organization as well

as enterprise. It can contribute in GDP of the nation to improve the performance of the
enterprise.
TASK 2
P5Charactersticis traits and skills of a successful entrepreneur
In entrepreneurship there are two successful entrepreneur which is Bill Gates and Mark
Zuckerberg who is define the specific characteristic that will show the effective success in
business (Stokes, Wilson and Wilson, 2010). In new business the entrepreneurs are the future
orientation which is define efficiency and effectiveness in business to achieve appropriate result.
They show the effectiveness to determine how to enhance the profitability in business to get
effective success. It can also define the how to increase market share to increase performance in
business. These are include some characteristic in business to increase the success in market
place:
Passion motivation- it is a important characteristic which can be influence the entrepreneurs to
do start business in effective way. Passion is a idea to define a new process in a business that
can be done by the entrepreneur and motivation is a process to influence the entrepreneur to start
a new business to get success.
Risk taking- effective business can be run to take risk which is increase their profitability as
well as productivity. Successful entrepreneurs have to take risk in organization to increase
chance to get profit as well as they have to increase their business performance in effective
manner to achieve their target of the business to get effective success in market (Carland,
Carland and Stewart, 2015).
Self believe and hard working- it is a important to the entrepreneurs to believe in self and they
have to hard work in business to determine the effective success. It can help to taking effective
decision to the business and get effective result to improve their performance.
Adaptability and flexibility- in business the adaptability is more important to define the
appropriate opportunity to define the effective target in the business that can help to take right
regarding the product. It may be include positive environment that can define the flexibility in
the organization to attain success and increase productivity in business.
Money management- money management is a important factor to increase success in business.
Entrepreneurs can have to able to manage money effectively in business to get higher success in

appropriate manner. They have to define clear expenses and profit foe a monthly to determine
the effective success as well as profitability in business (10 Characteristics of Successful
Entrepreneurs. 2016).
Effective planning- effective planning is important for the business to define effective success
that can help to achieve appropriate target in the business. Successful entrepreneur can define the
effective planning to achieve their objectives and goals to influence business performance and
get appropriate success.
High level of confidence- in business the successful entrepreneur have to high level of
confidence to done their job effectively and get effective as well as appropriate success to
achieve their target and increase performance of the business. Successful entrepreneurs have to
define the effective process to run the business in appropriate manner they have to take risk to
increase profitability in business (Storey and Greene, 2010).
P6How entrepreneurial personality reflect entrepreneurial motivation and mindset
The personality of the entrepreneur is reflect the motivation and mine set. They can
determine the performance of the organization to achieve their appropriate target in the business
to get effective success (Burns, 2010). entrepreneurs have to motivate to start a new business that
can help to achiever effective objectives and goals in appropriate manner. Effective personality
define the innovation process to start the business to define effective success. According to the
advisor they have to set the mind to develop their business to get effective achievement to
increase performance of the organization. It may be define the effective product and service
which is used by the customers to get satisfaction it is also motivation factor for the entrepreneur
to increase product service in effective manner to get maximum profitably in business.
The personality can help to take effective decision regarding the product to develop the
productivity in organization to achieve their target in appropriate manner. It include self respect
and define needs and wants of the company to take effective decision retarding the production of
the organization that can related to the customers demand. Motivation is a large process to
define the efficiency and effectiveness to get success of business in marketplace. Effective
advisor can help to define the appropriate opportunities in the business that can help to run the
business smoothly (Bridge and O'Neill, 2012). Without motivation the entrepreneurs can not run
the business effective manner and they did not get success in proper way.

Personality have to determine the self confidence which is create by the person to do a
new business they have to evaluate to innovation process to increase efficiency in organization
which can help to achieve business target in appropriate manner. It can help to improve
performance and enhance the market share to define the success in marketplace. In new business
they have to involve innovation ideas and p;an to determine the effective needs and wants of the
custoe4rs that can help to develop the appropriate decision that can help to increase their
productivity and influence the profitability (The Importance of the Entrepreneurial Background
in the Detection and the Utilization of the Information. 2013).
P7Person's background and past experience can hider or foster entrepreneurship
In new business the past experience of the person can define the effective learning in the
new business that can n help to achieve their target in appropriate manner and take effective
decision regarding the product. The past experience help to motivate their people to achieve
objectives and goals that can help to set innovative idea to run the business effective manner. In
business the entrepreneurs have to well skills that can help to taking effective decision regarding
to business as well as production (Blackburn, Hart and Wainwright, 2013). It can help to achieve
their target in appropriate manner. Effective experience and skills of the person that can help to
define the innovation of the work to increase the performance of the business.
Persons background have to define the effective way to take decision to make effective
target and define the effective activity to evaluate the business in effective manner. The best
learning can help to define effective process to run the business in appropriate manner to achieve
the goals and objectives and it can help to taking useful decision regarding the business with the
help of past experience to enhance the quality of the product and enhance the performance of the
business to get appropriate success.
CONCLUSION
In the above mentioned report has been discuss the entrepreneurship which can be define
the role of the entrepreneur which can help to increase the growth of the economy. It can define
the affect on local, regional and international. It is based on the innovative process to define the
innovative idea to define the success. Federation of small business can be define the effective
contribution in economy that can help to increase the GDP.

REFERENCES
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