Entrepreneurship and Small Business: Characteristics and Skills Report

This report on entrepreneurship and small business management begins by defining entrepreneurship and its role in business. It then delves into the characteristics, traits, and skills of successful entrepreneurs, including examples of local entrepreneur Adam Ludwin and global entrepreneur Bill Gates. The report also explores the OCEAN model of personality traits in relation to entrepreneurship, examining how openness, conscientiousness, extraversion, agreeableness, and neuroticism influence entrepreneurial motivation and mindset. Furthermore, it examines how background and experience can either hinder or foster entrepreneurship, providing insights into the factors that contribute to entrepreneurial success. The report concludes by summarizing the key findings and emphasizing the importance of entrepreneurship in economic growth and societal development. References are also included.

Entrepreneurship and small business
management

 Introduction
 Characteristics traits and skills of an successful entrepreneurs that different
from managers
 Entrepreneurial personality reflects entrepreneurial motivation and mindset
 Examine background and experience can hinder and foster
entrepreneurship
 Conclusion
 References
Table of content

 Entrepreneurship refers to a heart at every business enterprise and in this a
businesses can take the monetary risk for earning the higher growth and
higher profits. it is the process of extraction of value that may influence
change with the new innovation. in this small business management is an
approachable activity of an entrepreneurs that helps in running the
operations of the organisations.
Introduction

Characteristics traits and skills of an successful entrepreneurs
 Local entrepreneur
Adam Ludwin – He is the leading
local entrepreneur in the UK that
owns a Captify for earning the
profits. At this time he takes the
advertising offers to Microsoft, Nike
to gain the profits and become a
largest entrepreneurs in near future..

Characteristics
 Self motivation and risk taker- this is an essential characteristics for an
entrepreneur in which a person can encourage itself for doing their best
and earns a high amount of profits and revenues and due to this a person is
able to take risk for enjoying large proficiency.
Skills
 Networking- It is the best skills that have indulged in the entrepreneur and
helps in becoming the successful in their life.
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Traits
 Time management- It define the
traits of an entrepreneur that helps
in becoming the successful in
their business.

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Global entrepreneur
 Bill Gates – One of the famous and the
largest global entrepreneur in the world.
He is the Microsoft founder and grows
their wealth by regularly analyzing the
situation that may affect the
profitability of the business. He works
with the wide scope as the presence of
their business in all over the world.

Characteristics
 Passion and flexible nature- It is the best feature that shows under the
successful entrepreneur. If a person work according to their passion they
can achieves their goals in an efficient manner. There passion for work is
also more attractive when they have a flexible nature.
Skills and Traits
 Motivator and confident- In every entrepreneur motivation and self
confidence is the major skill that helps in becoming the successful in their
goals and objectives.
 Effective communication- communication is the two way process and it
is very essential to communicate effectively so that other will understand
the thoughts and ideas.
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OCEAN model
 Openness – In this trait of personality person are high in open minded and
accept the changes frequently without getting fear from this.
 Consciousness- This shows the skills related to managing and organizing
the activities in an effective way.
 Extraversion- It shows the extrovert nature of a person if this trait is high
a person can enjoy high benefits.
Entrepreneurial personality reflects
entrepreneurial motivation and mindset

 Agreeableness- It can describe the kindness and politeness in
a person so that they can achieve whatever they want and
also maintains the respect in the other people eyes.
 Neuroticism- This describes a mental and physical stability
of a person. In this if a person holds high calmness and
stability in every situation than they can achieve anything’s
whichever they want.
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There are two entrepreneurs i.e. Bill Gates and Adam Ludwin where Bill Gates is an
Global entrepreneur and Adam is the local entrepreneur but both represent as a best
example for the other people and the nations.
 Adam Ludwin is one of the best local entrepreneurs in UK in the age of 21. He started
work with their mother in the digital media business because their family condition is
not so good due to this they dropped his study and work with their mother.
 Bill Gates is the best and leading global entrepreneur in the world born on 1975
October 28. He is the founder of the Microsoft that is a global company with a total net
worth of $ 105.6 billion. His success lesson of life that helps him to become a
successful is the start as early as possible.
Examine background and experience can
hinder and foster entrepreneurship

 From the above report it is to be concluded that entrepreneurship is an
essential term to enhance the growth of the economy and living standard of
the individual person by providing different types of opportunities. This is
based on different types of entrepreneurship that helps in showing how
they contribute in the country economy and fulfills the demands of the
society.
Conclusion