ESBM Report: Background Factors in Entrepreneurship & Small Business

This report provides an overview of entrepreneurship and small business management (ESBM), focusing on the background and experiences that can either foster or hinder entrepreneurial success. It highlights the role of the environment in shaping entrepreneurs, citing examples like Elon Musk, JK Rowling, and Armacio Ortega, who overcame various hardships to achieve success. The report concludes that entrepreneurial ventures are crucial for driving revenue and emphasizes the significance of understanding the factors that influence entrepreneurial journeys. Desklib offers a platform to access similar solved assignments and past papers for students.

ENTREPRENEURSHIP AND
SMALL BUSINESS
MANAGEMENT ESBM

TABLE OF CONTENTS
• INTRODUCTION
• MAIN BODY
• Background and experience which hinders and foster entrepreneurship
• CONCLUSION
• REFERENCE

INTRODUCTION
• There are different types and number of entrepreneurial ventures which operates with different
policies and supports different business ideas. The entrepreneurial venture attract many consumers
by providing them with goods and services with the latest use of technology. The small business
contributes to the economy of the country by increasing the economy of the country.

Background and experience which hinders and foster
entrepreneurship
• For an entrepreneur it is found that their cultivated environment plays an significant role. Some of
the entrepreneur are found as sufferer from extreme poverty and lack of resources, no access to
education but still have the clear vision to become successful. There are some entrepreneur who
have good environment at house and no problems which drives motivation among them to
complete the work in a efficient manner (Şahin, Karadağ and Tuncer, 2019). For an example
successful entrepreneur are-
• Elon musk: An South Africa entrepreneur Elon musk known for his Tesla motors which is popular
in whole world. It is stated that in his childhood he was bullied by the group of boys who threw
him down from stairs for which he also admitted in hospital. He also emotionally traumatised by
his father. But still his dedication and persistence lead him to be a successful entrepreneur for all
the time.

• JK Rowling: A successful writer entrepreneur who faced many
hardships during her childhood also her failed married life leads
her to become greatest of the writer. She once wrote the Rabbit
book in her childhood but she stops writing, but after separation
from her husband and for her daughter’s survival she started
writing, her writing novel was “Harry potter” which earn a
world recognition and makes her a greatest of all time.
• Armacio Ortega: Ortega founds the ZARA clothing store, he
lived in poverty, due to financial inability he forced to leave the
school at the age of 14 and to start earning at the local shirt
maker shop. But later on he turn his talent and become a
successful entrepreneur.

CONCLUSION
• From the above report it is concluded that different entrepreneurial ventures are the business
sources to drive revenues. Report concluded with description of background which foster or hinder
the entrepreneurship with certain examples of successful entrepreneur.

REFERENCE
• Ndofirepi, T.M., 2020. Relationship between entrepreneurship education and entrepreneurial goal
intentions: psychological traits as mediators. Journal of Innovation and Entrepreneurship. 9(1).
pp.1-20.
• Şahin, F., Karadağ, H. and Tuncer, B., 2019. Big five personality traits, entrepreneurial self-
efficacy and entrepreneurial intention: A configurational approach. International Journal of
Entrepreneurial Behavior & Research.
• Del Bosco, B. and et.al 2021. Innovative startup creation: The effect of local factors and
demographic characteristics of entrepreneurs. International Entrepreneurship and Management
Journal. 17(1). pp.145-164.