Entrepreneurship Report: Ventures, Economy, and Business Growth

This report delves into the multifaceted world of entrepreneurship, beginning with an introduction to the core concepts and the role of entrepreneurs. It then categorizes and analyzes various types of entrepreneurial ventures, including scalable startups, social entrepreneurship, small business entrepreneurship, and large enterprises, highlighting their similarities and differences. The report further examines the significant impact of micro and small businesses on the economy, discussing their advantages, disadvantages, and contributions to job creation and regional development. It explores the strategies and factors that drive the growth of small businesses within an economic context, and how external events like Brexit can affect the economy. Finally, the report analyzes the characteristics, traits, skills, motivations, and mindsets of successful entrepreneurs, along with the background and experiences that can either hinder or foster entrepreneurial endeavors. The report concludes with a summary of key findings and insights into the dynamic nature of entrepreneurship.

ENTREPRENEURSHIP

Table of Contents
INTRODCTION..............................................................................................................................3
TASK1.............................................................................................................................................3
P1 Different types of entrepreneurial venture........................................................................3
P2 Similarities and difference between the entrepreneurial ventures....................................5
TASK 2............................................................................................................................................6
P3 Micro and small business impact on the economy............................................................6
P4 The ways from which small business will make growth in the economy.........................7
TASK 3............................................................................................................................................8
P5 Characteristics, traits, skills of two entrepreneurs.............................................................8
P6 Aspect of entrepreneur and the motivation and mindset help entrepreneur......................9
TASK 4..........................................................................................................................................10
P7 Background and experience which is been hinder and foster entrepreneurship.............10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODCTION
Entrepreneur is an person which makes lots of efforts to establish an business and they
make more and more efforts to do the business. They sacrifice lot to make their business get
success. They are people how do an lots of hard work. Entrepreneurship is an process which is
been done by an entrepreneur in its firm. An entrepreneur do work, make hard efforts to do work
all to make his business grow in an proper way (Barringer,2012). Austin Fraser is an consultant
company, they use to consult the entrepreneur that would help the entrepreneur to get an proper
guidance from them. And they would get proper ideas to make establish an business in an proper
way. In the below provided tasks it is been included about the entrepreneurship and their
ventures and the impact of an small scale business in an economy so that they would get help all
these things are been discribed.
TASK1
P1 Different types of entrepreneurial venture.
Entrepreneur is an person who makes an lots of the efforts to achieve an business. For
which they can do anything and any hard to hard work to establish an business. He is an person
who is known has the risk taker. They are the person who do hard work to achieve an better
business and that is their dream. Venture is simply known as business and that is the dream of an
entrepreneur. And it is business which is bee ruined by an individual or an group of people.
There are different types of an entrepreneurial venture : Scalable start up entrepreneur: these are those entrepreneur which is known by the
people as soon as they enter the market (Defourny,and Nyssens, 2010). Are the people
which wants publicity at the time they enters the market. For these types of an
entrepreneur there are some crazy investors are also ready to make investment on them as
they like to invest on these kind of the entrepreneur as they introduce an unique amount
of an products and the services ton the people and people is also have good trust on them
and they also waits for these entrepreneur. Social entrepreneurship: This is those entrepreneur which use to take care of the needs
and wants of the society and do welfare for the society. They are the entrepreneurs which
make the products and the services is beneficial for the society as well and that would

help them in achieving things. This will make them achieve an good repo in the society
and that will help them in grow in good way. Small business entrepreneurship: In small business entrepreneurship the business is been
opened in an small manner, it is mainly opened for earning for the day to day purpose as
they need to fulfil their and their families day to day requirements these kind of an
entrepreneur are those which is like- electrician, plumber, small shops, etc.
 Large entrepreneurship: it is an venture which is been ruined in an large unit. This is
been made to run for the long time they plans for the long term. These entrepreneur
makes an products and the services which are aimed for the long run. They do not make
any kind of the things which would only last for the short period of time. They only think
to make long term success.
Typology of entrepreneurship Copycat entrepreneur- these are the entrepreneur which does not want to think by their
own they only copy others, they do like other do and they work like other as they do not
have their own ideas with them (Delgado,Porter,and Stern,2010). They make total copy
of the other entrepreneurs. They do copy of the websites and the business cards as like
the other do. Accomplish entrepreneur- these are that kind of an entrepreneur which had been passed
all levels of the struggles in their life they know on what way they have to go know as
they are trying to scale their business in an proper manner this is all that they want. They
only now want to have balance in the business in appropriate manner. Research entrepreneur- these are that entrepreneur which use to make an proper research
before doing anything in their business as that would help them in knowing all the things
in the work as they do. They do not do anything without the doing prior research. It is
good to do the proper research before doing any kind of thing as that will make them get
an proper idea.
 Determined entrepreneur- This is an entrepreneur which thinks that nothing is their in
copying any of the person as they believe in doing something by their own. They do not
like to do any kind of the copy as they only like to make an new kind of inventions by
their own. They believe in doing hard work.

P2 Similarities and difference between the entrepreneurial ventures.
Types of entrepreneurship Similarities Differences
Scalable and small business Scalable and small business
has the similarity that is they
both start mainly for their own.
The difference in both of them
is: scalable is that business
which is been created by an
entrepreneur which is having
the dream to make his venture
most popular among the
others, they want to make
popular among the others with
their unique products
(Drucker,2014). And the small
scale business is that which is
been established for fulfilling
their own and their families
requirements, they mainly
does not have very much huge
ventures they work in an small
area like in their house front,
etc.
Large company
entrepreneurship and social
entrepreneurship
This both of the
entrepreneurship is different
but it is having the same
process to work with.
In large entrepreneurship it is
been established thinking for
the future they do planning and
process to run for an long
period of time. They produce
the products which will
continue for the long time.
And which will service the
people and stay in the market
for an long period of time.

Social entrepreneurship is that
entrepreneurship which works
for the welfare of the society
they produce products and the
services according to the
society. They always take care
of the goodness of the society
as which will make them get
good value in the society.
TASK 2
P3 Micro and small business impact on the economy.
Micro and small business are those business which is been ruined in an small scale and
which is having the small amount of resources which is available to them, and they have to make
use of the resources in an proper and batter way which is been available with them. This business
mainly does not have the proper amount of financial resources which will make them achiev all
the things easily, so they have to make lots of efforts to grow and run their business in an
appropriate way. They have less turnover then the other large business. They do not having
proper amount of an employees working in their organisation as they have an less amount of the
employees (Hall, Daneke,Lenox,2010). The small business is having advantages and as well as
disadvantages, small business is having an advantage is that they would have an lots of pressure
on them so that will be beneficial for the employees as they can work with an proper mind set.
And this is having an disadvantage which is an small business faces, they do not have the proper
work with them they are having little work to do as that can affect in their turnovers. And they
can even work in an high amount as they only have an limited sources and resources to work
with. They also can be able to grow in an proper manner as if they would make more and more
efforts to make their business grow. As there are many of the small scale business are there
because small scale business can be opened by the people in an little easy way so if they would
work in an appropriate way them they can get success in an proper manner. So all the small
business which is been created their growth and success is mainly depended on its working
conditions and its proper efforts to make business grow. If an small scale business work in an

good and required manner then they would get an better achievements in the business word. Ans
if they have to make an effect of the market them they have to do an proper work and efforts in
their working conditions as by that they would get an appropriate achievements. If the small
business work in an good working condition then it would be able to make the nations economy
better and that can be helpful in making the economy grow in required way (Herrington,and
et.al., 2010). An small business could make many kind of an impact on the different levels, in an
regional level can be helpful in differentiating the one region from the other region, they can help
in making their nation better and develop it in required manner. It can help the people of each
nation in connecting to each other. In the local level of the nation the small businesses would be
helpful as they can make provide the things which are required by the people in their places as
the people does not have to go to the other places and that can also help in providing
employment to the locals of that place. By all this things the economy surly get affected as that
will make many changes in the world as well as in the life of the people.
P4 The ways from which small business will make growth in the economy.
Brexit made the two countries get separated from each other which had been created
many problems in both of the countries. UK had been separated from the European country as
that had been made many of the things changed in the organisation. Their economy had been
effected by it in an bad manner. Economy was gone very down, as the people had also suffered
in an bad manner as that made business which are of the other country had been shifted from UK
and the people who were working over their faced problems as they become unemployed
because of it. Small business can be very effective in increasing the economical conditions of the
economy of the nation (Jones,Covielloand Tang, 2011). If government will also support to
establish an small scale businesses in their nation as small scale business is that business which
can be owned easily as that does not require an lot of resources or the materials, etc. so people
can try to make small scales business as for motivating them the government of that nation
should provide them the possible requirements like they can provide some help in financial terms
and many more which will simply motivate the people to establish the business properly. If their
would be an small scale business in required amount then it would be helpful for the people of
that nation to get employment which will help them and their families to fulfil their
requirements. And it will also help people in getting the required products and the services which
is necessary for them in their nation only they do not have to go out for that. And this would

increase the economy of the nation in better manner which will be again beneficial for the people
only. If the nation will be able to increase the economy then they would be able to achieve many
of the things and that would be more helpful or the people, if economy is in an proper level then
the nation can make an proper development which will help the people in get proper resources
and proper things, they would get more new technologies in their nations. If they would be
connected with the new new technologies then they would help and support with the other
nations also as that will again increase in the economy of the nation. As that will be very helpful
to the nation which means to the people as well which will provide them the better sources in
their nation to work in an better manner as that will make the nation get success with the other
nation which will help them in increasing of their value in the business market also
(Kirzner,2015). Small scale business is an better business type to focus on mainly as that would
make nation get more economy and if the economy will become increase then that would make
the proper development of the nation and that will make them come in compare to the other
nation. And even the small scale business would help the people which are living in that nation
can get an employment so that they would fulfil the requirements of themselves and the
requirements of their families. This will give the opportunity to the people to earn in their nation
only as they now do not have to go out to do the work. And that will also help in increasing the
economy because they will spend their money in their own nation only.
TASK 3
P5 Characteristics, traits, skills of two entrepreneurs.
Entrepreneur is an person who takes the risk to establish an business and face whatever
problems came in the way. So it is important for the entrepreneur to be good and hard working as
that will help in growing the business in an proper way. An entrepreneur should make plans
which will help them in running their business smoothly. They should be an very focused
towards their work which will help them in increasing their work in proper way which would
help them in growing of their business in an proper way (Santos, 2012). An entrepreneur should
have good talent and he should be an person who can do anything to make their business run in
an proper manner. Entrepreneur should be always motivated so that he can give motivation to the
people which are working with him in their organisation as that will provide help in increasing
the growth. Entrepreneur is that person who make efforts to grow their business so they should

be always up to date s that will help in getting all the information which is changing day to day
in the world so that they can make possible and required changes in their organisation according
to the changes which came in the world. There are some of the entrepreneurs who are the persons
which had been done lots of hard work to make their business grow in an proper manner as that
would made them get good success also. Two of the them are Walt Disney and Bill Gates.
Walt Disney was an entrepreneur who was an animator, voice actor and an film producer.
And he had been developed the cartoons. Walt use to make sketches, he then done work for
magazines also and after that he had got some of the ideas to make something of his own as he
have to do something very big in his life (Short,and et.al., 2010). He had started the Mickey
mouse show as that had been liked by all the children's a lot he then also wanted to do something
more and then he created an idea of making Disney land and that is been loved by all the
peoples. He had been worked hard and he had the aim to do something big which should be liked
by the people so he tried his best and he got success in his life.
Bill Gates is an co-founder of an Microsoft, which had been became an world's largest
PC software company. He is an entrepreneur which had been made lot of efforts in making their
company grow better. He had done lot of an hard work to reach here. Now he had been earned
lot of money and had been got great amount of success.
An entrepreneur should have the proper knowledgable and should have the good skills
which will help them in achieving for what they are working. They should be very hard working
by their nature which would make them different from the other entrepreneur. The entrepreneur
who are successful is that people who use to be motivate and they make other people also
motivated always. They are the people which had been increased their skills and knowledge by
doing more work and learning from the others which helped them in their work a lot. It is
important for them to have an proper skills. And it is on the necessary basis for them to work in
an correct manner as that will help them in achieving their dreams and aims.
P6 Aspect of entrepreneur and the motivation and mindset help entrepreneur.
The entrepreneur is an person which have to be motivated and the person who do the hard
work so that they can achieve better growth in the market. They should be the person who have
to take care of the themselves as well as the people which are working over their firm. They
should themselves be motivated and keep the others also motivated all the time which will make
help in developing the business in an better way. An entrepreneur is an person which should

have the skills and should have the ability to learn more, this will help them in achieving the
proper knowledge to do work in the firm (Von Graevenitz,Harhoffand Weber2010). They should
be that person which should be up to dated with the entire world as that will make them in touch
with the new technologies which is been introduced in day to day life which is necessary for the
organisation to make more and better development and that will also make possible help in
growing their business in desired manner. All the entrepreneur is having the different kinds of an
talent and the skills and they are having the something different in them which will make them
unique from the other entrepreneurs as that will make them get an achievement. There are many
entrepreneur which is been done many things to get success in the life and that are the people
which are the best inspirations of the other new growing entrepreneur. From the successful
entrepreneur Bill gates and Walt Disney is that entrepreneur which is gives good inspiration to
the other entrepreneur to get success in their lives. They are that people which had done lot of
work and researches so that they can develop their skills. They worked very hard to achieve the
success, it is not easy to get success in life for that they have to make lots of hard work. They
gives lot of motivation to the entrepreneur which is struggling or which is new in the field so that
they can work properly in the business to grow. Motivation is the most important part in an
working life as that will help any of the people in performing their work properly. As they also
provide the people more motivation to perform well.
TASK 4
P7 Background and experience which is been hinder and foster entrepreneurship.
Entrepreneur should have the proper skills which will help the other entrepreneur to take
guidance with them and that may give them proper knowledge of the things which will make
them attain things. They help the other growing entrepreneur in having the appropriate
motivation which will make them do their work properly and they can face the problematic
situations. The background of the successful entrepreneur will help the other growing
entrepreneur in having proper knowledge and skills which will make them do their work in an
correct manner. It is important for the people to take an good inspiration from them which will
help them in making their future better (What is Entrepreneurship. 2017). But the growing
entrepreneur should make possible efforts to achieve the success, and for that they have to follow
all the things which will help them to get success. It is important to follow the people which got

success in their field so that others would get much inspiration. Backgrounds and experience of
an other entrepreneur will help in achieving the entrepreneur successful if they would follow
them in an proper way, they should take an proper motivation so that they could be able to do the
things better.
CONCLUSION
From the above report it is been concluded that the entrepreneur is an person which make
possible efforts and takes lot of risk to make their business establish in an proper way. An
entrepreneur should have an proper skills so that they would make the proper decisions in their
working area which will help them in achieving better success. They should be always motivated
and should be hard working in nature. Small scale business can help the nation in increasing of
their economy in faster manner as that would help the people in getting the proper development
in their nation. The entrepreneur should have better motivation and they should learn with the
other successful entrepreneur.

REFERENCES
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Online
What is Entrepreneurship. 2017. [Online]. Available through:
<http://www.businessnewsdaily.com/2642-entrepreneurship.html>. [Accessed on 30th May
2017].