Entrepreneurship and Small Business Management: Venture Similarities

This report provides an overview of entrepreneurship and small business management, highlighting the significance of planning in fostering business growth. It identifies various types of entrepreneurial ventures, including small-scale, scalable, social, and large business entrepreneurship. The study focuses on analyzing the similarities and differences among these ventures, considering aspects such as economic activity, risk factors, and innovation. The report concludes by emphasizing the importance of strategic planning in entrepreneurship and small business management for achieving success.

ENTREPRENEURSHIP AND SMALL
BUSINESS MANAGEMENT

Table Of Content
• Introduction
• Types of entrepreneurial ventures
• Similarities and differences between ventures
• References

INTRODUCTION
• Entrepreneurship is considered as the heart of
every business wherein every entrepreneurial
business activity is carried out and managed by
an entrepreneur.
• It is very obvious that every large business
organisation starts with a small start up. Being an
entrepreneur requires specialised skills that
facilitates the business to differentiate between
the poverty and prosperity.

Types of Business Ventures
Entrepreneurship is referred to the process
of establishing business that aims to foster
the needs of the society. The types of
ventures are-
• Social entrepreneurship
• Small business entrepreneurship
• Scalable entrepreneurship
• Big business entrepreneurship

Similarities and differences of ventures
Entrepreneurship businesses is basically
concerned with establishing a business that
involves innovation and creative ideas that help in
fulfilling the demands of the customers in the
market.
Differences
The differences between the public, private,
social, micro, small and macro enterprises are
explained below-

Social Venture
Public Venture Private Venture Micro Venture Small Venture Macro
Venture
The social
entrepreneurial
businesses aim
owards
delivering better
values to their
customers while
addressing the
various social
welfare norms.
The public
entrepreneurial
ventures are the
ones that aim at
grabbing the
social
opportunities and
turn them into
the utility.
Private venture
enterprises aim
to deliver
products and
services that are
inconsideration
with the needs
and demands of
the customers.
Micro ventures
are also
established with
an aim of earning
profits in the
industry.
The small
ventures are the
businesses that
are established
with higher
capital than that
of the micro
businesses.
The macro
ventures are
the
businesses
that are
established
with an aim
of operating
and
impacting
the industry
as a whole.
The social
entrepreneurial
businesses aim to
address the social
needs of the
people for
making efforts
by raising their
voice and having
an intent to deal
with various
ssues faced by
he society.
The public sector
organisations aim
to manufacture
and deal in
products that
fulfil the needs of
the residents of a
particular region.
The main motive
behind
establishment of
the private sector
organisation is to
maximise its
profit. The focus
of the business is
upon the
business growth
through high
quality products
and services.
The micro
ventures are
established,
owned and
operated at very
small level.
The small
businesses have
an aim of earning
profit by serving
good quality
products.
The macro
ventures are
the
businesses
that run at
large scale
and choose
their factors
accordingly
in order to
aim success
in operation
of the
entrepreneuri

Cont..
Similarities
The similarities between the public,
private, social, micro, small and
macro enterprises are explained
below-
• Economic activity
• Risk factor
• Innovation and creativity

CONCLUSION
• The report concludes that entrepreneurship and small business
management is a very significant term that requires proper planning
that can hinder as well as foster the business organisation.
• The report has highlighted various types of entrepreneurial
businesses that can be chosen by the business.
• The various entrepreneurship businesses that are covered in the
report are small-scale entrepreneurship, scalable entrepreneurship,
social entrepreneurship and large business entrepreneurship.
• The study was conducted in order to highlight various similarities
and differences at among various entrepreneurial ventures.

References
• Agyapong, D., 2020. Review of entrepreneurship, micro, small and
medium enterprise financing schemes in Ghana. In Enterprising
Africa (pp. 142-158). Routledge.
• Boermans, M.A. and Willebrands, D., 2017. Entrepreneurship, risk
perception and firm performance. International Journal of
Entrepreneurship and Small Business, 31(4), pp.557-569.
• Dana, L.P., 2017. International entrepreneurship research: how it
evolved and directions for the future. International Journal of
Entrepreneurship and Small Business, 30(4), pp.477-489.
• Jones, O., 2021. Academic engagement with small business and
entrepreneurship: Towards a landscape of practice. Industry and
Higher Education, p.09504222211034453.

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