Entrepreneurship: Types, Impact and Social Economy Report

This report provides a comprehensive overview of entrepreneurship and small business management. It begins by defining entrepreneurship and its various forms, including small and large business ventures. The report then delves into different types of entrepreneurial ventures, such as serial and social entrepreneurs, highlighting their characteristics and differences. Furthermore, it analyzes the impact of micro and small businesses on the economy, emphasizing their role in employment generation and GDP growth, particularly in the context of the United Kingdom. The report also discusses the importance of small businesses and startups in fostering social and economic growth, focusing on employment opportunities and innovation. The conclusion summarizes the key findings, emphasizing the significance of entrepreneurship and small businesses in driving economic and social progress.

There are some entrepreneur launches who classified typology business of entrepreneurship which
are following elaborated:
Serial entrepreneurs: This is define about the business person who established a new business in a
very short period of time and involve innovative ideas also so that make did difference from other
business perspective. Their main focus is on to implement high level of creativity and new
innovations because they are associated with capability of risk taking and sitting for better
investment on which their Business Innovation get fulfilled in better format. For example Tesla the
most innovative and the type of serial entrepreneurship where this company is having motive to
provide more advanced artificial intelligence type of product and services in Automotive and other
structure segment.
Social entrepreneurs: In this entrepreneurship it is described a form of topology on which over all
individuals they have the responsibility e to certain social benefits generate and get motivated by
the helping people to achieving their needs and wants. On the basis of individual get link and
coordinated with the other social entrepreneurship undertaking and with the help of butter
advantage to be assured. For example Amazon can be considered as social entrepreneurs where
they promote over all brands products and services to help customer to choosing as per their own
choice of brand and helping them to provide the services like home delivery and generating the
suggestions by them.
INTRODUCTION
The description of Entrepreneurship is a business concept which defines about specific task or an
activity which involves creativity Idea elevation with properly organising developing and
maintaining all organisation towards a large amount of profit focus achievement. And I'm not can
be classified into different form of business it can be small medium large type of business where
small business management is defined at a processor of properly managing and structured all
phases of small business whether it is in accordance with managing suppliers for performing
construction task and activities. In terms of entrepreneur it is business organisation that deals with
the several kind of opportunities and also innovation so that better economic and social value can
be implemented. Employer report it highlighted different types of and terminal branches and
having comparison between them in terms of how their size and scope impact on social economic
and their importance. It is former digital marketing interventions also a technology provider the
offer audience and paid search to social media for promotional activity business.
TASK 1
P1 Types of entrepreneurial ventures and how they relate to typology
As per the description of entrepreneurship is encompasses in a capacitor form which enhance and
implement an organisation on the time of dealing with various circumstances in order to achieve
better profits. At before implementing any kind of cooperation it is essential to must have
entrepreneurship :
Small business entrepreneurship: According to this entrepreneurship where it is privately-owned
company where have small capital and very less man power established. It can be form of sole
proprietorship and other Enterprises the same point of time which has leser annual revenue. It is
being evaluated that almost each organisation are small and entrepreneurship venture and I will
contact with those people who are more shows their interested in upgrading profit and will support
in efficient manner.
Large company entrepreneurship: It is defined data companies which are includes to strong and
high range of life cycle where it's also detailed describe about new Association with in the current
business only. In relation with this venture the new product that to produce an enlarged to meet all
the preferences effectively the large entrepreneurship basically focus on high profit maximization
as they have wide range of capital manpower and other advanced resources they can a phone and
compete with multinational companies who are already exist in current market innovation because
they are associated with capability of risk taking that gets converted into failure and gets linked
with scalable startup.
Entrepreneurship and small business management

Differences:-
Basis Public venture Private venture Social venture
Profit distribution It is dispersed across
management, dealers
and all staff members.
It is separated among
both promoters and
owners.
It is dispersed among
the society.
Revenue sources In terms of the source
of income they are
documented with the
help of convicting
certain taxes.
Here, they need to
take loan from bank
or even through
assigning shares.
It is with respect to
providing assistances.
Strategy development The strategies are
implemented for the
progression of
community.
They implement in
order to make profit.
To enhance social
well-being of
audiences.
P3 Data and statistics to analyse how micro and small businesses impact on economy
In the situation of commercial Enterprises there are a variety of business like small, micro,
medium all these types of business plays an important role in economy to lead into another level in
terms of employment provide more standard of living etc. In which small medium Enterprise
generates more employment opportunities rather than large Enterprises as because it is a small form
and they have a Les objective to achieve but they also provided low range of job opportunity that
somehow generate more GDP of specific country. Buy consider United Kingdom economy, small
businesses plays an important role in their GDP growth where it not only profit but it has increase
standard of living of people but also create more start of business value as well as employment in
terms of small range of job to people. Over small businesses and start up as a laboratory of bank
they get the loan and having a vision to establish a business in order to corporate it with banking
sector to the company.
Role of start-up and small businesses: In economy the most important aspect for start-ups business
and small businesses to to generate more job opportunities and business as it is a beginning of
business formation where it requires more sponsors and investors to provide points that weighs
points that increase capital opportunity. Besides that is also provide recommendation in order to
determine the present position of the United Kingdom government through providing support to our
business corporation effectively. On the basis of Business Administration they have decide to make
efficient way of running their business by making strategy and also determine their present position
in United Kingdom government by providing support to all business corporation. This country there
are approximately 93 % of private sector are engage with both small and medium type of businesses
to making business cooperation and having a small partnership motive..
P4 Importance of small businesses and start-ups to the growth of social economy.
Within the terms of social economy as a defined as an efficient level of contribution of
diverse business that indulge with building, charity and Society many more. This being produced
in order to spread the social enterprise due to large amount of opportunity which enhance across
United Kingdom. It is also in accordance on which constant level of relationship on the basis of
social as well as economic element of society. The startup business organisation and small
companies get skill level of workers who are the future Industries expansion of all country. The
large amount of growth of new implement companies is engage with biggest contribution towards
Gross Domestic Product and overall increasing of sales.
 Employment production: in terms of new job opportunities startup business and small
business provide impact on economy and will increase positive outcomes respect of
country. It also involves employment assistance in which both skilled and Semi skilled
workers are there through to which numerous operation are controlled by workers and
consistent result are maintained properly.
 Enhancement of innovation: can we start a small business there is a required of innovation
and creative ideas to implementing the business in such a manner which reflect different
from other business perspective. This type of business entrepreneurship where single
person or group of person open a venture which has a unique concept to provide
Customer services in terms of products and create a good impact in country economy.
CONCLUSION
On the basis of our report of entrepreneurship and small business part a summarise about
different types of entrepreneurship plays an important role in specific countries economy. The
types of business psychology which is serial and Social entrepreneurship having a different
concept where serial entrepreneurship focuses on building a new vision and objective technique
small difference with other business perspective and Social entrepreneurship is having customer
oriented provide quality of services which makes them satisfied. Small business and startup
venture are one of the positive benefits provided in terms of job opportunities and increased
standard of living. Another situation of large enterprise are not much more influence where they
have large capital and more influence of product and services but their growth are limited range.
REFERENCES
Ratten, V. and Usmanij, P., 2021. Entrepreneurship education: Time for a change in research
direction?. The International Journal of Management Education, 19(1), p.100367.
Santini, C., 2021. The Evolution of Entrepreneurship. In The Good Entrepreneur (pp. 1-23).