Entrepreneurship: Ventures, Brexit Impact, and Skills Analysis

This report delves into the multifaceted world of entrepreneurship, commencing with an introduction to the concept and its application in business establishment. The report then explores different types of entrepreneurial ventures, including small, large, scalable, and social enterprises, and their respective typologies, highlighting their similarities and differences. The analysis extends to the impact of micro and small businesses on the economy, emphasizing their crucial role in national economic growth. Furthermore, the report examines the economic impact of Brexit, particularly on small businesses, including an analysis of how it affects their operations and strategies. It also identifies and contrasts the skills, traits, and characteristics that distinguish successful entrepreneurs from general business managers, focusing on entrepreneurial motivation and mindset. Finally, the report discusses the background and experiences that can either hinder or foster entrepreneurial endeavors, providing a comprehensive overview of the key elements that shape entrepreneurial success.

ENTREPRENUERSHIP

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Different types of entrepreneurial venture and the typology............................................1
1.2 Similarities and differences between entrepreneurs ventures. .......................................3
TASK 2............................................................................................................................................4
1.3 Impact of micro and the small business on economy.......................................................4
1.4 Impact of a Brexit on economy and the impact of small business on it...........................5
TASK 3............................................................................................................................................6
1.5 Skills, traits and characteristics of two entrepreneurs which differentiate them from the
other business managers.........................................................................................................6
1.6 Entrepreneurial aspect reflect entrepreneurial motivation and mindset...........................7
TASK 4 ...........................................................................................................................................8
1.7 Background and experiences which will hinder and foster entrepreneurs................................8
CONCULSION................................................................................................................................9
REFERENCES .............................................................................................................................10

INTRODUCTION
Entrepreneurship is a activity which entrepreneur use to do to make business make
establish, they are those people who bares risk in developing their business and to make it more
successful. they are that people who are main person responsible for starting business and run it
till end. ABC company is a company which is a consultant enterprise which use to consult the
entrepreneurs which tries to start the business or doing business so that they would make the
proper decisions in the organization which would help them to do proper plans in the business
and that would help them to make their business run in a accurate manner which would be
helpful to them in making their business on top (Agarwal, Audretsch and Sarkar, 2010). There
are many type of business and from all that small business is better than other as they plays a
important role in increase in the economy of nation.
TASK 1
1.1 Different types of entrepreneurial venture and the typology.
Their are many kind of a entrepreneurial ventures they all plays a different kinds of role
in a nations economy. The entrepreneur is a person which plays a main role in starting up a
business and to make it run in a proper manner. there are four kind of entrepreneurial venture:-
 Small entrepreneurial- Small entrepreneurial venture is a form of business which use to
be done in a small scale, and which is been run for earning in a daily routine. This is a
business which is been done by those people who establish it to make money to fulfil
their daily bases activities and their requirements. these business are been opened and
plans to open in a small areas or next to their door steps. these business does not required
more amount to start the business. they establish these kind of business so that they
would able to fulfil the requirements of their family and themselves. these kind of
business are like electrician, plumber, etc. they do their work so that they would fulfil
their requirements.
 Large entrepreneur business- large entrepreneur business are that business which is
been established in a long bases. and these are a business which are been made to get it
success in whole world and to earn profit and so that they would be able to provide
people proper amount and quality of products and services for a long run. this would help
them in having people to make more attractive towards their organization so which would
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help them in surviving for the long run. they focus on the people by giving them the best
quality which would help them in maintain their value and brand in the market.
 Scalable entrepreneurial- these are those entrepreneur which are little crazy types they
want to become popular as soon as they enters the market and they can make the people
more attracted to them as they enters without doing any kind of efforts. whenever they
enters the market they enters with a better and new innovations and new kind of products
and services which makes the people attract in numbers, the investors are also ready to
invest for these kind of entrepreneurs (Kirzner, 2015). they serve the products which are
unique in nature as that makes the customers to buy them and they not have to make
more efforts to convince the people to buy it.
 Social entrepreneurial- these is been owned by that entrepreneurs which tries to help or
to serve for societies benefits and they make products and services which would be useful
for the society. they try to provide help to the society in solving the social issues, their
target market is mainly the society. they mainly focus on them and their activities.
Typology of entrepreneurial
 Determined entrepreneur- they are those kind of the entrepreneur which wants to be
very determined which is they use to do the proper amount of hard work they can do to
make their business work properly they do not like to do the laziness in their work, and
even they do not like to copy any of the person or to do the things which others do in
their business to make it grow. they are the people who only wants to do the hard work.
they are the people who makes the possible efforts to make their business successful at
any cost they do not like to follow any one and to make the things or do the things like
the other entrepreneurs.
 Accomplished entrepreneur- these are the entrepreneurs which had been made a much
efforts to run the business and faced many problems but they had at last reached to the
end success and now they want to make their business scalable which would help them
extend beyond the life. they know and made research and they know properly that how to
make the proper plan to attract more customers and to be connected with them they are
person who knows the value of the time so they take care of it. so they use to manage
their time in a proper way and they know how to manage it as they prefer time as the
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most important part. they take proper care so that their work would be done on a proper
amount of time. for them time is the most important resource.
 Skeptical entrepreneurs- these entrepreneurs are the people who use to question a lot,
for the success of the others they use t make questions on that also. they have the thought
that the people who gets the success does have anything with them which is lucky to
them and by which they got success (Barringer, 2012). these are the people who wants
for the miracle to happen in their life to get success they feel that the star to come on
earth which would help then in getting success among others.
 Copycat entrepreneurs- they are the people who are the copycats which use to copy
others and make the products and provides service which is same as the others. they do
not make efforts to think to make something new and different. they use to produce the
same websites and the business cards, etc. they are the same/ carbon copy of the other
organization.
 Research entrepreneur- these are the people who likes to make the proper researches
while doing anything, they tries to study as much as they can and they makes a proper
plan and generate ideas to processed further.
1.2 Similarities and differences between entrepreneurs ventures.
Different types of ventures Similarities Differences
Small and social
entrepreneurial
They works in a small area
and it had been started for
themselves or for families,
they earns for fulfilling the
daily bases activities.
Both of them has the
differences, they both operate
in different condition, the small
ventures produce products
specially which are related to
daily materials and in social
they use to produce the
products and the services while
keeping the social factors in
mind (Welter, 2011).
Large and scalable
entrepreneurial
They both works as a long
range they both needs to be
popular in between the people
and tries that people should
know them as much as
possible.
Large entrepreneurial focus to
make their business run for the
long time and they would get
the achievement for long,
In scalable the entrepreneurs
wants to become popular as
they enter in the market and
their main purpose is only to
make the unique products and
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services and become popular
for some time and then after
that they try to innovate
something other innovate
products.
TASK 2
1.3 Impact of micro and the small business on economy.
Micro and small business is a type of business which works in a small margin and it does
not have more funds to operate their day to day activities, this runs in a small area compared to
the big companies. Economy of a country is mainly depended on the business which is ruined at
a place and and by the taxes which is given by the people of a nation so if a nation wants to
increase their economy then they should focus on the small or a micro business, this business can
be easily developed by people and it can also be managed and this does not take much time then
the large scale business so small scale business is good to increase the economy (Drucker,
2014). If government will also take a step ahead to open up the business by providing financial
help, this will motivate those persons who were thinking to open but because of the financial
problems they were not trying to start up, if government will take a step then many small scale
business will get opened and many unemployed persons can get employment. If any nation
would have good economical condition then it would be helpful for the government to improve
the condition of nation and can bring new kinds of technologies which will be beneficial for the
all the people to make their life better and get updated with the new technologies. If all will take
this business form seriously then it will be beneficial for them to run their life in better way, this
will even aid them in earning more and more money to have a good living conditions.
Government should make relaxation of various policies for small scale business like to quit
taxes, make different kinds of policies avail to them so that they can get some benefits to people.
If small scale business is been opened in different places then it will be helpful for the people of
that nation and as well to the government, people would get employment and government will
get money which will increase the economy.
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Small business is increasing very rapidly as people get to know about its importance and they
know that it is very beneficial for the economy of individual as well economy of nation. There is
a great impact of micro business on economy of a nation as it is now very important for British
to establish more and more micro enterprises so that they can over come with the effect of
Brexit. As it seen in this graph given above shown that micro business is growing rapidly in 2010
it is 4% and till 2015 it had gone around 15%.
1.4 Impact of a Brexit on economy and the impact of small business on it.
Brexit is a part when the British exit from the European country so that was called a
Brexit, this was been occurred due to some of the issues came in between the two countries
which had made them apart from each other. they had good contacts in terms on business they
made business in a better manner together but after Brexit all the business which they had in the
each country had been stopped or moved which had made very much problematic to both of
them as that made a great impact on the economy of the both nation also. they are now trying to
make their economy better as they had before so they would get a better economy which will
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help in the development of the nation in a proper way. and the people residing in that nation
would get help from the increase of the economy (Jones, Coviello and Tang, 2011). to make it
better the people and as well as the government also tries to make the economy better which
would make their country in better condition. small business have the ability to increase the
economy as the small business better to open as that does not contain a lot of amount to make
establish and that would can give employment to the people who were working in the European
country and now which had been unemployed because of Brexit. as the people does not get ready
to think about starting business as they does not have the proper amount of fund to establish so
the government would make the some of the policies for them and they should been provide a
funds which would make them get some help. and that can give motivation to the people so that
they would think of establishing business this can make many changes in the nation and help
them in achieving good economical conditions. they should focus on the things which is not
having in the nation and for what the people has to go to the other places to buy so they should
try to produce that products so the people does not have to go to the other places for purchase of
the products and by this nation would get help in getting the money and the money of the people
will stay in their nation only, which would make them get their economy increase in a proper
way.
TASK 3
1.5 Skills, traits and characteristics of two entrepreneurs which differentiate them from the other
business managers.
The both entrepreneurs and the managers are the similar and they are a individual players
in a market but some of the difference in them makes the entrepreneurs in having the unique
personality and that is the innovation factor and they have a risk barring nature, they are the very
create person and they would have the nature which they can take high risk. they tries to make
the betterment of the nation. they believe in doing the hard work which would result in doing
something better for them and their business.
Two very well entrepreneurs Bill Gates and Mark Zuckerberg. These are the people who
are very much hard working and they are very much effective with their work and their efforts
has change the whole world, every person in the world is aware about them even children know
about these two famous personalities (Hall, Daneke and Lenox, 2010). The innovation which are
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been done by them are very much different and they unique that is the reason which had been
made them what they are now some characteristics and traits which make them different from
business managers.
Mark Zuckerberg and Bill Gates
Passionate- He was passionate person for what so ever the task is given to him, he does it with
passion. He always wished to create such thing which can connect the people with each other. He
wanted that the world to be very wide. His interest was in technology since his childhood.
Passion for him was like what he has decided he has to achieve that unless he become restless.
This trait has made him a very successful entrepreneur of all the time. Similarly Bill Gates was a
very identified personality. He was also very much passionate towards his work. He use to wake
for many nights just to justify his own dreams. It is not a simple routine that all can do this is the
reason which differentiate him from business managers. Motivated- These two personalities were
well aware about their aims and objective therefore they were always been very much self
motivated. They never felt any one should counsel them and motivate them. This trait was inbuilt
in them since their birth (Schaltegger and Wagner, 2011). They always did their work with full
efforts and which now can be very effectively seen a applied in the current scenario.
Grounded- These are the entrepreneurs who are great personalities still they never show off their
achievements because they are very down to earth. They do every small to big task as their
needs. They never felt biased for anything. The task whatever was given to them to do was like
the ultimatum for them they fulfil it on time
1.6 Entrepreneurial aspect reflect entrepreneurial motivation and mindset.
Mark Zuckerberg and Bill Gates are the entrepreneurs who changed the scenario of the
world, there are many factors that made them what they are now. The influence of the family,
society cultural factors lifestyle are the things that can make a layman a entrepreneur. The one
who some or the other way got influenced by these forces definitely attain big thing in his or her
life as these two renowned personality has done.
Social factors- society is the most effective factor through which anything of the world can be
affected positively or negatively. Those who are risk takers they defiantly face them as
challenging factor and do great thing in their life and many are like those get de-motivated with
societal aspect and quit the task in between which will make them a failure. Entrepreneurs are
achiever not failures, they might fail many times but they do not quit their tasks in between
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 Family background- These two personalities are very much influenced by their family
and their upbringing. Although money was not a constrain for them but yes they have the
will to do something different which will make the world to talk about them. Their
dedication and motivation to do unique things made them the best entrepreneurs of all
the time. The family really plays a very big role in one’s success. The way the family
support no one can do to anyone (Von Graevenitz, Harhoff and Weber, 2010). With the
support of their parents and with their effort too they have become successful
entrepreneur. The upbringing was very supportive to both of them. The willingness and
goal oriented attitude has been inculcated in them are just a genetic factor in general we
can say, rest it's their own struggle and effort that made them successful personal.
 Self dedication and motivation- The most and the foremost thing is that the
determination and dedication of them to attain the objectives and goals made them great
people. They were the people who always believed in dreaming big. As big the dream is
the result would be that much big. This is the mantra that every individual should follow
to become people like them. We can cont be like them but we can follow their view and
ideas which as a guide can support us as well. It is very must for one to have dedication
and determination towards what so ever he or she is doing similarly as these two elite
personal had.
TASK 4
1.7 Background and experiences which will hinder and foster entrepreneurs
Entrepreneurs are that persons which make efforts to take their business high or to open
their business, they are the risk takers or the risk barriers, they use to make different plans and
they have to implement it also, if they want to make their enterprise grow then they have to take
risk in each and every steps, every successful entrepreneurs have very hard working stories
behind them, they may also had very much of problems and difficulties while making the
business but they had face all that problems that is why they are here and if they had dropped
that then they would not be able to reach where they are now so to become successful then hard
working should be there, if they will not do hard work and do not face the problems it means
they can't be able to become successful in their life (Hall, Daneke and Lenox, 2010). they have
to take risk in step and has to work hard and they have to face problems in every step they take
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next if these things will not come in their way they not be successful and they will not be able to
learn anything these all things come the ways of the entrepreneurs so that they can learn from it
and can be able make decisions and they will not have these problems then they are not the true
entrepreneur because the meaning of the entrepreneur is the person who takes risk if he will not
tale risk then what will he do, all the entrepreneurs should take motivations from that
entrepreneurs which become successful and to come on this positions the problems which they
had been faced because their experiences and there background can be motivational for the
struggling entrepreneurs, they should take knowledge from them and should gain ideas from
them so that it can be beneficial for them to make their business successful. it is good to take
knowledge as much as can.
CONCULSION
From the above report it is been analysed that the entrepreneur do have a needed skills
and knowledge so they would make the business establish, they have to know all the thing and
take proper knowledge from others, they manly do have some qualities so they can make their
work proper and effective, they should have the nature to bare risk and should know to make
better plans whenever it s needed and they should stay on the created plan so there would no
problems can occur in their business they would have the talent to bare the risk. economy of all
the nation is necessary as it helps in growth of the nation, and to make the betterment of the
people of the nation. and to increase economy government should plan to focus on establishing
the small business all over which is necessary that will help the economy to grow more than it
was before and it will make many kind of difference in nation as it will provide employment to
the people who has need of it, that people can be able to make money and they can be able to
make their requirements fulfil and specially the day to day requirements of themselves and their
families. so doing the small business in the nation can do many of such changes which would be
able to achieve many things and can make the nation good and the person residing their will get
some satisfaction which is a important part.
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REFERENCES
Books and journals
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Kirzner, I.M., 2015. Competition and entrepreneurship. University of Chicago press.
Herrington, M., Kew, J., Kew, P. and Monitor, G.E., 2010. Tracking entrepreneurship in South
Africa: a GEM perspective. Graduate School of Business. University of Cape Town.
Barringer, B., 2012. Entrepreneurship: Successfully Launching New Ventures.(2012).
Welter, F., 2011. Contextualizing entrepreneurship—conceptual challenges and ways forward.
Entrepreneurship Theory and Practice. 35(1). pp.165-184.
Jones, M.V., Coviello, N. and Tang, Y.K., 2011. International entrepreneurship research (1989–
2009): a domain ontology and thematic analysis. Journal of business venturing. 26(6). pp.632-
659.
Hall, J.K., Daneke, G.A. and Lenox, M.J., 2010. Sustainable development and entrepreneurship:
Past contributions and future directions. Journal of Business Venturing. 25(5). pp.439-448
Schaltegger, S. and Wagner, M., 2011. Sustainable entrepreneurship and sustainability
innovation: categories and interactions. Business strategy and the environment. 20(4). pp.222-
237..
Hockerts, K. and Wüstenhagen, R., 2010. Greening Goliaths versus emerging Davids—
Theorizing about the role of incumbents and new entrants in sustainable entrepreneurship.
Journal of Business Venturing. 25(5). pp.481-492.
Agarwal, R., Audretsch, D. and Sarkar, M.B., 2010. Knowledge spillovers and strategic
entrepreneurship. Strategic Entrepreneurship Journal. 4(4). pp.271-283.
Von Graevenitz, G., Harhoff, D. and Weber, R., 2010. The effects of entrepreneurship education.
Journal of Economic Behavior & Organization. 76(1). pp.90-112.
Online
entrepreneurship. 2017. [online]. Available through.
<http://www.businessdictionary.com/definition/entrepreneurship.html>.[Accessed on
17th May l2017].
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