A Research Proposal on Entrepreneurship's Role in UK Economic Growth

This research project investigates the role of entrepreneurship in fostering economic growth within the UK. It outlines the project's objectives, which include developing a basic understanding of entrepreneurship in the UK market, inspecting its impact on economic growth, and exploring ways entrepreneurs can enhance economic growth. The literature review highlights entrepreneurship as a function for developing business ventures and its impacts on economic growth through innovation and job creation. The research methodology employs a positivism philosophy, a cross-sectional time horizon, a deductive approach, and a quantitative research choice using survey strategy with both primary and secondary data collection methods. Potential outcomes suggest that entrepreneurship is a significant element for economic development, offering job opportunities, while also acknowledging associated risks. The project includes a conceptual map, Gantt chart for time management, and a risk register outlining potential risks and mitigation strategies.

Research proposal
The effects that entrepreneurship has on the
growth of the economy in UK

Content
• INTRODUCTION TO THE PROJECT
• BRIEF LITERATURE REVIEW
• METHODOLOGY
• POTENTIAL OUTCOMES
• A CONCEPTUAL MAP
• GANTT CHART
• RISK REGISTER

Overview of the topic
• The term entrepreneurship plays an essential role in the growth that is
economically mainly in the UK market.
• It is also noticed in the UK market that the market is known to take
innovative and risky steps as compared to other economies (Ferreira,
Coelho and Moutinho, 2020).

Research Project Objectives
Research aim
To evaluate the involvement of entrepreneurship in enhancing the economic growth of the UK.
Research objectives
• To evolve the basic understanding in relation to the concept of entrepreneurship in context of
the UK market.
• To inspect the impact of entrepreneurship on economic growth of the UK.
• To explore the ways that would be used by an entrepreneur for enhancing the level of
economic growth in UK.

Brief Literature Review
• According to the view of Birk and Thiemann (2020), the concept of entrepreneurship in Context to the UK market
is referring to the function to develop the overall business venture for earning profits by taking financial risk.
• In the opinion to Al-Awlaqi, Aamer, and Habtoor (2021), there are many impacts of entrepreneurship on the
economic growth of the UK because it's promotes and develop the economic growth for creation and innovation
of nature.
• As per the point of view of Cerver Romero, Ferreira, and Fernandes (2021), there are some ways that is used by
entrepreneur to improving the UK's economy growth where they provides many job opportunities to people.

Research methodology
• Research philosophy: Positivism
• Research approach: Deductive approach
• Research strategy: Survey strategy
• Research choice: Quantitative research
choice
• Time horizon: Cross section time horizon
• Data collection: Primary data and
secondary data collection methods
• Data analysis: Frequency distribution
technique

Potential outcomes
• From the above information, it can be said that entrepreneurship is one of the
significant element for the economic development.
• It also provides major benefits for the people as it also provides various job
opportunities (Wang, Mundorf and Salzarulo-McGuigan,2022). Moreover,
there are various risks which are involved while doing and expanding the
business.

A conceptual map

Gantt Chart

Risk Register
Risk Way to mitigate
1. Time: Time is the time frame which is needed to
be managed within risk as risk of delays are
always existed within research. For the research
this is essential that to provide ample time to
complete the activities within research.
Using Gantt chart as time management tool risk of
time can be mitigated within research.
2. Cost: Cost is the amount which is provided to the
research in order to manage availability of the
funds.
In order to mitigate this risk internet is used so that
in minimum amount proper information can be
gathered.
3. Resources: Other risk is related with management
of reliability and accuracy within research by using
available resources.
By using authentic source of data this risk can be
mitigated by the researcher so that to carry on
overall research in systematic manner.

References
Al-Awlaqi, M.A., Aamer, A.M. and Habtoor, N., 2021. The effect of entrepreneurship training on entrepreneurial
orientation: Evidence from a regression discontinuity design on micro-sized businesses. The International Journal
of Management Education, 19(1), p.100267.
Birk, M. and Thiemann, M., 2020. Open for business: Entrepreneurial central banks and the cultivation of market
liquidity. New political economy, 25(2), pp.267-283.
Cerver Romero, E., Ferreira, J.J. and Fernandes, C.I., 2021. The multiple faces of the entrepreneurial university:
a review of the prevailing theoretical approaches. The Journal of Technology Transfer, 46(4), pp.1173-1195.